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James Turk continues:

“Schacht was on a visit to the Federal Reserve of New York in the 1920s, and the President of the Federal Reserve, a guy by the name of Strong, offered to show Schacht his gold. They went down into the vault, and after a period of time, the people who were in the vault said they couldn’t find the German Reichsbank’s gold.

This (astonishing interaction with the Federal Reserve) is recorded by Schacht in his autobiography (some three decades after it took place)....

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“Is the record keeping in the Federal Reserve as bad today as it was in the 1920s, that they couldn’t find the German gold? There are just so many questions. And the sad thing is that the central banks perpetuate the mystery and the secretiveness by refusing to open up the vaults and have a full audit.

But even more importantly, Eric, to claim their own sovereignty, countries should have their gold stored in their own vaults. That’s the only way they can be safe and be assured that their gold is fully protected.

When asked about the possibility that central banks will work together to issue a false report, assuring people that the gold is still in the vaults, Turk responded, “I’ve seen so much trickery, false reporting, and rules being broken, that I would really have my doubts (about such a report).

Until all of the central banks have their own gold returned to their own vaults, I’ll take with a grain of salt any pronouncements that come from central bankers. My basic premise, with regard to central banking, is they only tell you what they want you to hear. But also keep in mind, Eric, that there is no logic for central banks to keep their gold in other central banks any more.

Under the days of a gold standard, there was a certain logic to it. You settled trade balances with the movement of gold, by moving gold from one part of a vault to another part of the vault. But we’re not on a gold standard any more. So having gold stored in certain parts of the world doesn’t make sense any more.

Gold is now basically reserved for a rainy day or any kind of problem that comes up. So it makes all the more sense for central banks to return the gold back to their home country, and have it safe and secure in their own central bank’s vault.”

The blockbuster audio with James Turk has now been released. The above information was just a small portion of his incredible interview which covers Germany’s missing gold, as well as other central bank gold which has been leased into the market. The King World News interview with James Turk is available now and you can listen to it by CLICKING HERE.

The interviews with James Turk, Egon von Greyerz, Gerald Celente, MEP Nigel Farage, Dr. Stephen Leeb and Rick Rule are available now. Also, be sure to listen to other recent KWN interviews which included Jean-Marie Eveillard, Bill Fleckenstein, Art Cashin (UBS $612 billion) and Jeffrey Saut (R.J. $360 billion) by CLICKING HERE.

Eric King

KingWorldNews.com

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Turk - 2nd Time Germany’s Gold Has Gone Missing From Fed

This is the fourth and final of a series of blockbuster interviews with James Turk covering missing central bank gold. Turk spoke with King World News about a rather stunning event which took place at the Federal Reserve gold vault in the 1920s, and yes, it once again involved Germany’s missing gold.

Here is what Turk had to say: “There is an interesting thing I read a few months ago. It was an autobiography of the President of the Reichsbank, who was President (of the Reichsbank) back in the 1920s. His name was Hjalmar Horace Greeley Schacht.”

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October 30, 2012

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