It’s not clear just how much gold is actually held by the Bank of Canada, the Bank of England, the U.S. Federal Reserve and Fort Knox, asserts a new documentary. Much of it is long gone, much of it to Asia, say people interviewed for The Secret World of Gold, aired on the public broadcaster CBC.
When people trade gold they may think they own the actual metal but in fact, they are just trading paper. “Some claim that… for every 100 ounces of gold traded, there exists only one ounce of real, physical gold. So where is the gold and who really owns it,” says a description of the documentary. It suggests massive manipulation of the gold market by individuals.
How the Nazis seized Europe’s gold to finance its war effort in World War II is outlined in the piece, as is a description of how European countries moved their gold to Canada and the U.S. to try to keep it out of German hands.
CBC-TV will air the documentary again this Sunday at 11am EDT and Saturday at 11pm EDT on CBC News Network.
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