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One more for posterity................. true value of gold............ 

By: micro1 in POPE IV | Recommend this post (2)
Thu, 28 Jul 16 10:42 AM | 83 view(s)
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The official book price of gold is $42.22. if you think I am nuts you should read this article

http://www.fiscal.treasury.gov/fsreports/rpt/goldRpt/current_report.htm

Book Value: The Department of the Treasury records U.S. Government owned gold reserve at the values stated in 31 USC § 5116-5117 (statutory rate) which is $42.2222 per Fine Troy Ounce of gold. The market value of the gold reserves based on the London Gold Fixing as of September 30, 2015 was $291.3 billion.

Deep Storage: That portion of the U.S.Government-owned gold bullion reserve which the Mint secures in sealed vaults that are examined annually by the Treasury Department's Office of the Inspector General and consists primarily of gold bars.

Working Stock: That portion of the U.S. Government gold reserve which the Mint uses as the raw material for minting congressionally authorized coins and consists of bars, blanks, unsold coins and condemned coins.

The gold reserve held by the Department of the Treasury is partially offset by a liability for gold certificates issued to the Federal Reserve Banks at the statutory rate, which Treasury may redeem at any time.




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