Inside Story: Gold, Trust, And The Federal Reserve - The Video Documentary

Tyler Durden's picture




 

From the inside of the Federal Reserve's gold vault (where we are told one quarter of the world's bullion resides) to NYC's diamond district and the gold-dealers on the streets, this NatGeo documentary is a fascinating walk through the reality of trust, money, and gold. As the narrator notes, "the Fed's discretion is so trusted that few depositors have ever asked to see if their gold is still here," except of course Germany now that is, adding (from the exact opposite perspective to the man that runs the building) that, "for thousands of years people used gold as money... it's the perfect recyclable money...." The must-watch video then progresses to the reality of our financial world where he explains, the trillions in money that is transacted every day "used to be backed gold, but is now supported by the promise of our government... The fact that it all works based on trust alone is simply taken for granted," leaving the ominous question of "who is in charge" of that 'trust'? Cue Ben Bernanke - who answers the question of what the world would look like without a Fed... bank runs, stock market crashes, and financial chaos.

 

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Mon, 06/10/2013 - 18:39 | 3643967 TWSceptic
TWSceptic's picture

"Above all they protect it"

 

Yes, by stealing it from us through inflation. Some protection.

Mon, 06/10/2013 - 18:48 | 3643995 Spider
Spider's picture

Well soon they wont have any more silver left - all US and Canadian mine supply used by bullion coins:

http://seekingalpha.com/article/1484701-u-s-and-canadian-mint-sales-all-of-domestic-silver-supply-used-solely-for-bullion

It also seems thats not enough...

Mon, 06/10/2013 - 18:50 | 3644001 Spider
Spider's picture

They TRUST the Fed?  I think its more like anybody who withdraws gold from the NY Fed will be met with a nice little change in regime.

It aint trust...

Mon, 06/10/2013 - 19:11 | 3644060 nope-1004
nope-1004's picture

 

 

If gold is not money, then I fail to see why it has to be capped in price.

If the FED had Germany's gold, I fail to see why it would take 7 years to deliver a portion of it back.

If the US dollar wasn't a petro dollar tied to oil, then I fail to see why we are in the ME invading oil rich nations.

The USG lies constantly, as does the FED and all bankers.  One day gold and silver will rise above this great theft now taking place and all the lies about "humanitarian" efforts and privacy invasion for your own good will be finally questioned by more than some fringe blogs.

 

 

Mon, 06/10/2013 - 19:33 | 3644146 TheEdelman
TheEdelman's picture

The ever-increasing number of "we buy your gold" stores tells us what now?

Mon, 06/10/2013 - 19:39 | 3644163 jbvtme
jbvtme's picture

i didn't see krugman

Mon, 06/10/2013 - 20:06 | 3644248 Skateboarder
Skateboarder's picture

Can any of you who watched the video comment on its validity/usefulness/etc. I've been meaning to watch a couple of documentaries with the family. Would also appreciate any suggestions of other documentaries that prove useful in providing truthful information regarding our wacky species' history and enslavement. I won't get to reply to this for a few hours, so thank you in advance.

Mon, 06/10/2013 - 20:21 | 3644302 Herd Redirectio...
Herd Redirection Committee's picture

Century of the Self

Power of Nightmares

The Prize

Tue, 06/11/2013 - 06:39 | 3645213 gold-is-not-dead
gold-is-not-dead's picture

This video has a really nice pieces of tungsten shown.

Mon, 06/10/2013 - 20:37 | 3644349 Doctor of Reality
Doctor of Reality's picture

This was pure propaganda. Nothing new to see. 

Tue, 06/11/2013 - 01:52 | 3645072 DollarMenu
DollarMenu's picture

The link only has 30 minutes of it.

Do you have a link to the other half?

You must have seen it all.

Where's the rest?

Tue, 06/11/2013 - 03:12 | 3645098 Bokkenrijder
Bokkenrijder's picture

What a completely fabricated 'documentary,' it obviously doesn't take much to impress people these days!

A couple of brothers pushing an antique cart with some gold bars on it, followed (inside the building WTF?!)) by some more brothers with machine guns.

Then the three white 'custodians' open the 'vault' (an iron fence) with a padlock which is smaller then the one on my garden shed in order to weight the gold on a antique scale that looks even older than that silly cart.

Looks like time has stood still there for decades, and all the equipment has been dusted off, complimented by some tough looking actors holding plastic M19's in order to make a great show for the NGC.

Yawn!

Tue, 06/11/2013 - 08:59 | 3645512 FEDbuster
FEDbuster's picture

Did anyone else notice the value of the gold in FRNs was quoted in the low hundred billions, and our debts and money supply are in the trillions.  Gold at current levels is meaningless in the grand scheme of things, only if it were allowed to rise to parity with the current measures of the world economy would it reach it's potential value.  At that point an ounce of gold would be measured in the tens of thousands of FRNs. 

Mon, 06/10/2013 - 22:13 | 3644659 HedgeHammer
HedgeHammer's picture

I have not had a chance to view the video of this article. However, the following is long and I've watched it at least twice in full. It is one of the best, IMHO, in-dept video of money, the history of it and how it was used throughout history in many different civilizations as well as the USD specifically. I recommend everyone watch this video.

 

https://www.youtube.com/watch?v=T2zr4y-Ip2I

Tue, 06/11/2013 - 08:51 | 3645484 Reptil
Reptil's picture

The Secret of Oz is a good one.
https://www.youtube.com/watch?v=7qIhDdST27g

Mon, 06/10/2013 - 20:20 | 3644298 Herd Redirectio...
Herd Redirection Committee's picture

Remember when they trotted Mr T out on TV, in order to convince people that gold is what else, a bubble?  When the shoe shine boy (or the 21st century equivalent) tells you to go long GLD then you know gold is probably in bubble territory. 

Mon, 06/10/2013 - 21:56 | 3644600 DoChenRollingBearing
DoChenRollingBearing's picture

TheEdelman

 

I have see numerous reports that the "we buy gold" are getting much less gold now.  It is also getting harder to buy fractional gold coins now too.

Mon, 06/10/2013 - 20:09 | 3644263 LeisureSmith
LeisureSmith's picture

Speaking of Gold and Germans... Deutsche Bank opens 200-tonne gold storage facility in Singapore

http://www.mineweb.com/mineweb/content/en//mineweb-gold-news?oid=193622&...

 

Mon, 06/10/2013 - 21:30 | 3644521 dryam
dryam's picture

Not one mention of how our monetary system is a flawed debt based system. It's an especially flawed system when banks are not allowed to fail. Thus, the entire system is incentivized to go further in debt, grow the money supply, and create inflation in an exponential (not linear, big difference) fashion. Exponential growth is unsustainable, and subsequent collapse is guaranteed at some point. It's simple math.

Mon, 06/10/2013 - 18:50 | 3644002 Spider
Spider's picture

They TRUST the Fed?  I think its more like anybody who withdraws gold from the NY Fed will be met with a nice little change in regime.

It aint trust...

Mon, 06/10/2013 - 20:18 | 3644022 RockyRacoon
RockyRacoon's picture

All things considered, not bad for the mainstream information funnel.   It's better than the usual network crap, you gotta admit.   Totally lacking is the tin-foil hat finger pointing that usually occurs outside the goldbug crowd.  I saw this when aired and was surprised at the relatively even-handed style.  Worrisome is that J6P was watching Fox or MSNBC or NASCAR or [insert favorite mindless 'entertainment' here].

Mon, 06/10/2013 - 19:01 | 3644038 graspAU
graspAU's picture

"Where would we be if we had I.O.U.'s scrip and certificates floating all around the country?" Instead he decided to "issue currency against the sound assets of the banks. [As opposed to issuing currency against gold.] The Federal Reserve Act lets us print all we'll need. And it won't frighten the people. It won't look like stage money. It'll be money that looks like real money." 
-Treasury Secretary Woodin,  3/7/1933 (Source: 'Closed for the Holiday: The Bank Holiday of 1933', p20 - Federal Reserve Bank of Boston) http://www.bostonfed.org/about/pubs/closed.pdf

Mon, 06/10/2013 - 19:49 | 3644199 Ident 7777 economy
Ident 7777 economy's picture

Riiiiiight ....

Mon, 06/10/2013 - 19:32 | 3644145 auntiesocial
auntiesocial's picture

trusted.

WINKY FACE! 

;P

Mon, 06/10/2013 - 20:37 | 3644347 Crisismode
Crisismode's picture

 

 

"All trust

comes from [behind] the barrel of a gun."

Mao Zedong

paraphrased

Mon, 06/10/2013 - 18:39 | 3643968 francis_sawyer
francis_sawyer's picture

Fuck the Fed

Mon, 06/10/2013 - 19:37 | 3644160 BurningFuld
BurningFuld's picture

Now how in the fuck do you get 5 down votes for saying that?

Mon, 06/10/2013 - 19:48 | 3644197 auntiesocial
auntiesocial's picture

vote downs:

 

1. blankfeind

2. timmay geithner

3. ben bukkake

4. j. demon

5. h. paulson

Mon, 06/10/2013 - 20:23 | 3644311 Herd Redirectio...
Herd Redirection Committee's picture

Francis has a group of travelling companions that downvote him automatically.

Mon, 06/10/2013 - 22:01 | 3644619 LongBallsShortBrains
LongBallsShortBrains's picture

Fuck them too. And their flying carpets.

Mon, 06/10/2013 - 18:40 | 3643970 LawsofPhysics
LawsofPhysics's picture

There is no trust once fraud is the status quo, period.  Good behavior (saving, living within one's means) continues to be punished.  Bad behavior (John Corzine), continues to be rewarded.

Meh, my physical can easily be exchanged for whatever the fiat du jour is... and this will end as it always does...

hedge accordingly.

Mon, 06/10/2013 - 19:50 | 3644203 Ident 7777 economy
Ident 7777 economy's picture

Amen.

Punish Corzine.

SOON

Mon, 06/10/2013 - 18:40 | 3643972 TeamDepends
TeamDepends's picture

You can reach out and touch gold, and surprisingly, it feels really good.

Mon, 06/10/2013 - 18:41 | 3643977 SeattleBruce
SeattleBruce's picture

"what the world would look like without a Fed... bank runs, stock market crashes, and financial chaos."

Um Bennie boy, depending on where you live around the world, those things are happening WITH the fed right now, and oh, so much more nasty stuff...End the fed...

Mon, 06/10/2013 - 20:27 | 3644325 Herd Redirectio...
Herd Redirection Committee's picture

It would crash, its true.  But thats because the system is crooked, and there have been years of malinvestment.  But what would rise from the ashes would be much more prosperous than the status quo. 

The bad banks would go bankrupt, the gov't would have to *shock* spend only as much as it brings in.  Bad debt has to be written off.  Pretending its NOT bad debt is NOT a solution.  But thats exactly what the Fed's solution is.

Tue, 06/11/2013 - 10:20 | 3645914 SeattleBruce
SeattleBruce's picture

"It would crash, its true." - exactly.  And my point is it's crashing right now WITH the fed (in a different way, and in different places (see Greece and Spain for instance, and Japan)).  But yes, remove the fed, and the punch bowl, and the crash would be much more epic, sooner, and then the world could recover.  Currently, the fed, and other CBs are making recovery impossible.  So we have this slo mo crash going on around the world.  It's like pulling a band aid off very slowly, or getting it off quickly.  Now, ending the fed means removing some of the most potent illusions and cons ever devised against the people of the world.  Taking the punch bowl away will be hard, even when the punch is really bad for everyone's health.

Mon, 06/10/2013 - 18:45 | 3643988 King Nothing
King Nothing's picture

Who is the negative arrow clicker on here?

Mon, 06/10/2013 - 18:52 | 3644008 RockyRacoon
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The Neg-Bot has been set upon ZH for some time now.  Matters not who or what said.  NSA?

Mon, 06/10/2013 - 19:18 | 3644097 Peter Pan
Peter Pan's picture

It's probably Ben on his coffee break.

Mon, 06/10/2013 - 19:52 | 3644211 Big Slick
Big Slick's picture

No.  Ben uses that time to catch up on his NAMBLA posts

Mon, 06/10/2013 - 19:52 | 3644213 Ident 7777 economy
Ident 7777 economy's picture

 

 

 

" Who is the negative arrow clicker on here? "

 

Unionized federal treasury employees.

 

Don't rag on the Bernank. /sarc


Mon, 06/10/2013 - 20:54 | 3644392 NoTTD
NoTTD's picture

Click here if manly.

Click here if gay.

 

Let's see how that works.

Mon, 06/10/2013 - 23:03 | 3644802 RaceToTheBottom
RaceToTheBottom's picture

What you were planning on doing a calculation to see if the % matches the normal % of gay people in the US?  10%?

 

Or was that some juvenile homophobic insult, that only smalll minded people who live in your particular trailer park would understand?

Mon, 06/10/2013 - 18:52 | 3644009 Urban Roman
Urban Roman's picture

Next week, NatGeo visits the Bitcoinium mines. 

Not as interesting, photographically. 

Mon, 06/10/2013 - 18:56 | 3644025 Bay of Pigs
Bay of Pigs's picture

$55M a ton? Is that all?

Real money bitchez...

Mon, 06/10/2013 - 19:26 | 3644027 IdeasRbulletproof
IdeasRbulletproof's picture

Sure is a whole lot of guns around for such barbaric relics...

Mon, 06/10/2013 - 19:27 | 3644121 tenpanhandle
tenpanhandle's picture

If one was really interested in stealing it, they would not do it when it was under the guns of so many guards.  Much easier to steal it from the tungsten mine where it came from; before it gets delivered to the fed.

Mon, 06/10/2013 - 22:07 | 3644641 LongBallsShortBrains
LongBallsShortBrains's picture

They aren't getting anything passed you...

Do NOT follow this link or you will be banned from the site!