May 14, 2012

http://www.zerohedge.com/news/switzerland-wants-its-gold-back-new-york-fed

In 1921 the world's governments agreed to pool their gold in the World Collateral Accounts, on the theory that this would prevent wars (where nations invade others to steal it).

The Federal Reserve then misused it for its own purposes in the 1950's, and when the bonds came due, they claimed they were fakes and refused to give back the gold.

In recent years, some nations have been able to get their gold returned to them, including Venezuela. Now it appears that Switzerland wants theirs returned.

It will be interesting to see if that will take place, since many believe that most of the Fed's gold has been sold off already, and the rest has been turned into bars of gold-plated tungsten (counterfeit gold).