Glenn Beck on Germany’s [Rehypothecated] Gold

Glenn Beck reviews Germany’s early 2013 request to repatriate 300 tonnes of gold held by the Federal Reserve Bank of New York and then asks why the Fed responded with a pledge to return the gold in 7 years.  If the gold exists, it should be a simple matter of shipping logistics.  But 7 years?  Beck goes on to logically speculate that the gold doesn’t, in fact, exist.  The gold that the Fed has so far returned, is not the original bars first delivered to the US from Germany some 70 years ago. They are newly recast bars.  Could it be that the original gold was long ago rehypothecated, in order to maintain the illusion of a strong dollar?  Beck believes it’s even worse – that the Fed and other western central banks of the world have not only rehypothecated each other’s gold, but have even sold or transferred the physical gold to new owners.

One note of error: Beck says at one point in the video that the Fed reports holding about 6,700 tonnes of Germany’s gold. But this would be larger than Germany’s known gold reserves. As this chart shows, the Fed is only holding some 1,500 tonnes of Germany’s gold.