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Uncle Sam audits its stash of gold at the New York Fed


LA Times:,0,5461335,full.story


"In 1981, when Paul was on the Gold Commission — a panel set up by Congress to explore expanding gold's role in the U.S. monetary system — he argued for full gold audits every year. He has pitched legislation for an exhaustive examination of the country's gold that could cost as much as $60 million.
"If the gold is there and everything is in order, they should welcome an audit," Paul said in an interview.
He said he doesn't suspect that anyone has replaced the gold bars with fakes. He's more interested in examining paperwork that would show whether the gold has been used in any transactions that were never disclosed to the public, such as loans to other governments.
He is not alone. In Germany, there have been calls by some politicians to "repatriate" the country's foreign gold reserves and return to a gold standard as the euro common currency faces an uncertain future."

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