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The financial crunch has been averted.	by Peace_man	2007-08-13 14:25:37
the US federal reserve	by jaqie	2007-08-13 16:46:19
is just that, a huge reserve, literally tons (hundreds or thousands, I suspect) of gold sitting in places like fort knox and the NY US federal reserve building. I don't know about other places, but that's where the US stores it's "emergency money" for times like this, and that's just the stuff that they let us know about. I strongly suspect other countries have something similar, and even some banks.
[ Reply ]
Not for the past few decades.	by subbywan	2007-08-13 16:50:59
Two words: "Smithsonian Agreement"	by esbita	2007-08-13 17:35:49

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