NationStates Jolt Archive

I have a question for all of you.
All nations own gold but do you know what is done with it or where it even is?
Most nations have a reserve in gold form wich the national banks of each nation protects. i.e. the gold the United States owns is in Fort Knox (New York I think).
My national bank is calld 'Seðlabanki Ísland' and we have gold but I just found out that the English are renting it, the country of England rents Icelands gold. How about that, I had know idea that nations could rent other nations gold reserves. Did you?
Our gold is protected in the National Bank of England.
So whats up England? Running low on funds or what???

For Knox is in Kentucky. The Federal reserve is in New York.

For Knox is in Kentucky. The Federal reserve is in New York.
Thanks, I wasnt really sure about that.

From what I have heard, Fort Knox is pretty much empty. Where the gold went/is is anybody's guess.

I think the fact that there's little or no gold in Fort Knox has to do with the fact that the U.S. currency hasn't been backed by any kind of raw metal for many decades. We, along with just about everyone else, use fiat currency, backed on the "full faith and credit" of the U.S. government and economy.