RichardQ wrote:
Dr. Wilk, I've been studying the Tripartite Gold Commission's final report (1959). I'm somewhat puzzled by what appears to be obfuscation. Correct me, please, if I'm wrong, but I assume the Army would have inventoried the gold bars as so-and-so many bars, not as so-and-so many ounces. That would be the way to ensure that any quantity discrepancies would become evident as time passed. The TGC report, however, states: "By July 1948 a total of 9,849,169 ounces of gold in bars, coins or pieces had been deposited with the Federal Reserve Bank of New York or the Bank of England or was still being held at the Foreign Exchange Depository in Frankfurt by the U.S. military authorities." I'm aware that banks measure gold deposits in ounces, but at some stage the number of bars was converted to ounces by somebody, and I presume a record was kept of that conversion. I'd love to compare that to the original inventory taken at the mine. The grand total rose by another millon ounces during the next 26 years, indicating significant traffic volume in the gold storage areas.
Also, the fact that the bars were split up between New York, London, and Frankfurt reveals there was a lot of handling and shipping involved, exposing the gold to possible losses. As I mentioned earlier, the Army was engaged in drastic down-sizing and redeployments in 1945 to 1950, which meant frequent personnel changes among the officers and enlisted men assigned to guard, manage, and ship the gold.
According to the TGC, 80 percent of the total gold pool was distributed to the claimant Governments by November, 1950. The last two gold bars (net 797.539 ounces of fine gold) were recovered from "German financial authorities" on Sept. 27, 1996. They apparently were originally Belgian Central Bank gold bars looted by the Nazis, remelted by the Reichsbank and given false identification marks (Prussian State Mint insignia and a 1938 date stamp). But the Reichsbank had meticulous paper records that proved their real heritage.
Dr. Wilk, I've been studying the Tripartite Gold C... (
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I have followed you and most of what you say is true but and I know there is always a but .... Gold and I am a prospector so I might be wrong as to the army but even in the 1800,s when the government was dealing with gold measures it was never in Gold Bars so to say it was in how much each gold bar weighs in Ounces. Each gold bar would weight a certain amount in ounces and would have a small difference between the bars and weighing the bars in ounces would take no longer than weighing of any other precious metal ... must be exact one ounce does not matter much as gold was only 35 dollars an ounce but say 1000 ounces in all of the bars would make a monetary difference of much.