The Federal Reserve Does Not Own Gold

If the Treasury finds itself truly strapped for cash, the Congress would only have to declare the Fed’s gold certificates permanently unredeemable.

The Federal Reserve Does Not Own Gold

Authored by Ryan McMaken via The Mises Institute,

Historically - as during the days of the classical gold standard - central banks maintained stocks of gold to facilitate the conversion of gold-backed national currencies. Those days are long gone, but in modern times, many central banks continue to own gold, and many …