@ 8:20: “…The Fed’s discretion and intense security is so trusted that few depositors have ever even asked to see if their gold is still here…”
@13:30: “Every couple of hours, Trillions of US dollars changes hands around the world. All of that money used to be backed by gold. But, not any more. Today, our buck is backed by a PROMISE from the US government. The fact that it all works based on trust alone, is simply taken for granted.”
from Zero Hedge:
“Whether its cash, gold, or digital-data bits, we all know that money makes the world go round; but what that money is worth depends on trust.” In this fascinating documentary, National Geographic Channel takes you inside the heart of the money machine to places that you’re not allowed to bring a camera (unless you’re a blind-folded Bob Pisani)… straight into some of the world’s largest vaults.
America’s Money Vault follows 55 million dollars worth of gold as it makes its way down into the most valuable gold vault in the world. Hidden deep under the streets of New York City, hundreds of billion dollars in gold bars – the wealth of nations – are tucked away in a bunker that is anchored to the bedrock of Manhattan Island itself.Following this introduction, tomorrow, we will reveal much more on the world’s biggest vault.