Fort Knox holds about 4.6 thousand metric tons; the Federal Reserve in NY has about 6 thousand.
You can take a tour if you’re there. They put the gold in the basement, directly on the bedrock because it’s too expensive to build floors strong enough to hold it. You go down a security elevator and end up in a trap with the most intense locking mechanism you will ever encounter.
That said, the vast majority of what the Fed does, isn’t in gold. Their daily cash transactions dwarf the total amount of physical gold
Your understanding is correct.
Fort Knox holds about 4.6 thousand metric tons; the Federal Reserve in NY has about 6 thousand.
You can take a tour if you’re there. They put the gold in the basement, directly on the bedrock because it’s too expensive to build floors strong enough to hold it. You go down a security elevator and end up in a trap with the most intense locking mechanism you will ever encounter.
That said, the vast majority of what the Fed does, isn’t in gold. Their daily cash transactions dwarf the total amount of physical gold