Evolution of FED thinking--humor

Marta Russell ap888 at lafn.org
Wed Oct 14 10:35:09 PDT 1998


Brad De Long wrote:


> The Federal Reserve Bank of New York is supposed to be much more so. You
> see, many countries keep their gold reserves in the FRBNY basement (a habit
> that they started back around WWII). When one country wants to sell gold to
> another, they are supposed to send a forklift into the basement to pick up
> the bars from one pile and move them to another...

And the New York Fed is storing millions in bricks of gold that came from Nazi loot - melt down of personal possessions, gold fillings, rings, etc which has been there since the war ended.

Marta Russell



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