American monetary hegemony is supported by the custody of foreign
The gold is stored in the fifth sub-floor of the New York Fed building on Liberty Street. The vaults on the bedrock of Manhattan Island are located 80 feet below street level.
Each of the 530,000 gold bars weighs 400 troy ounces, or about 12.44kg.
At today’s market value of approximately US$1700 dollars a troy ounce, the New York Fed has within its vaults a multi-billion dollar treasure trove.
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