In practice, this means that most of America’s massive gold stockpile is illiquid and wouldn’t be readily accepted on the international market should the need arise: “It’s a decrepit relic just like our monetary policy is. With respect to America’s gold stockpile, we hold ourselves to a lower standard than the rest of the world,” Money Metals CEO Stefan Gleason said. The French central bank recently sold 129 tonnes of similar non-standard gold that was stored in New York and replaced it with higher-quality bars that will remain in France. Notwithstanding the lack of any credible physical audits for decades, US gold ... (full story)