This is a subject that comes up periodically. Since the Fed's attorney recently answered Ron Paul's query, correctly I might add, that the Fed has no gold under its control, I thought I would reprise a previous blog entry on the subject of the US gold reserves.
The real question is not whether or not the Fed has any gold or direct control of it, which it does not, but rather, does the Fed have any knowledge of or any participation in gold swaps, leases or sales to foreign entities.
There is anecdotal information and plenty of stonewalling by the Fed to suggest that the answer to this question is not a straightforward 'no.'
