But no one want to admit it

According to popular myth, the Fed doesn’t care about gold.

But in fact, the opposite may be true.

The US gold holdings might be the only thing holding the Fed’s balance sheet.

Above we’ve got a short video that introduces the topic and below a longer treatment of the subject.

Here’s the punchline: Rickards proposes that, in fact, we never left the gold standard and that gold provides an essential back stop for the financial system.