Gold is more precious than ever.  On a global landscape countries and financial institutions are playing major games behind the scenes jockeying for tonnage of precious metals.  Many billions of dollars worth of fiat money is lined up to get into physical metal and it’s tough to find. They’re doing it for a very good reason as the financial system leans on the brink of total disaster and the future is going to have their gold backing.

Very few people in the world, maybe a dozen or two, legally arrange for the sales of tonnage of gold and other precious metals for wealthy people and macroeconomic analyst Rob Kirby of KirbyAnalytics.com is one of them.

Kirby’s an expert on world gold sources and a huge critic of the U.S. Treasury and the Federal Reserve Bank.  He’s trying to get a big book published on the “gold suppression movement” and he thinks many central bankers are going to be hung by their necks.  He understands that countries and central banks are scrambling to possess, purchase, and / or steal whatever amounts of the precious metals they can get their dirty little hands on.  He knows the dollar backed markets are in trouble all over the world, national GDPs are down across the board, and bonds are showing major signs of stress. Rising interest rates have created major stress in the automobile and housing markets.  The financial system appears to be stretched to the limits and everyone is looking for a way out and gold is the answer to many experts.  The global financial world is slowly moving its way toward a new gold standard.

That’s why in a recent interview with Greg Hunter of USAwatchdog.com Kirby found himself discussing the validity of a November 9, 2018 Treasury audit report from the OIG, Office of Inspector General.  The issue is audit and the question is whether the U.S. really has the gold they say they do to back their new currency.

The report is about U.S. gold holdings and it’s called, Audit of the Department of the Treasury’s Schedules of United States Gold Reserves Held by Federal Reserve Banks as of September 30, 2018 and 2017.

The first question in anybody’s mind who follows gold is, Did they really audit our gold reserves?

Nah, the gold expert answers without apology.  It’s not even an audit to begin with.  “Well, it’s not an audit to begin with,” Rob Kirby says.  “It’s really about as material as Treasury Secretary Mnuchin when he visited Fort Knox and came out of a brief visit and said gold is safe.”

Steven Mnuchin tweeted that out but that didn’t tell us how much gold we have.  “We all know that gold is safe.  But saying that gold is safe says nothing to the notion that Fort Knox gold has not had a credible audit since the Eisenhower Administration in the 1950s.  And if you read into this November 9 publication you will see very quickly that it says they’ve audited the schedules that were provided,” Kirby says.

U.S. auditors have done basically a read-over of the paperwork provided to them by the Treasury, but no actual inspection of precious metal.  “And they’ve given an opinion:  Yeah, it looks like it’s all in order.  But that in no way constitutes an audit in physical gold claimed to be held by the U.S.government,” Kirby says.

This is not an actual audit which would require a lot of work.  The gold expert says a credible audit of the U.S. gold reserve would entail quite a number of people with a lot of professional expertise.  People to assay bars.  “This is something that’s quite time-consuming and what’s presented in this publication in no way constitutes a credible audit of U.S. sovereign gold,” Kirby insists.

So why would the U.S. put this out now saying we’ve audited the gold and everything’s okay?

There’s a great reason why they’d be pushing this out right now, Kirby says.  It’s called financial disclosure.

“It was just last week an ex trader for JP Morgan admitted that he was rigging the gold market for a period of six years with the full knowledge of senior people in the bank. And he stated in his admission that he had learned how to rig the market from more senior traders than himself,” he says.

But why say the eight thousand tons of gold is safe?  Is it to reassure American taxpayers?

“Look, the price discovery that we have for precious metals is largely set through the Comex exchange in New York and the LBMA in England and these markets are virtually all paper, where the price of futures are used to achieve price discovery for metal,” the macroeconomic analyst says.  “And the amounts of paper that gets sold versus the amount of physical metal there is to back the paper selling.  You’re talking about hundreds – I believe on Comex right now it’s around 360 paper ounces are sold for every ounce of deliverable metal they have in their warehouses.”

The price discovery process as we know it cannot differentiate between a paper ounce and a physical ounce.  “So they’re using this paper price discovery system which amounts to basically nothing but naked shorting of metal.  They use this fallacious price discovery system to price real physical metal. And the reality is this is bogus. And people are getting it.  This is becoming more widely understood. Certainly in foreign markets. But even here with the great unwashed – people are beginning to realize that things aren’t right,” Kirby says.

People intuitively know that precious metal is precious, Kirby says.  It’s called precious metal because it is precious.  “And it’s dear and it’s rare.  And people intuitively understand precious metal should be reacting differently than it has in the wake of geopolitical uncertainties, international financial dis-equilibrium.  The price of precious metals has not been behaving due to this false price discovery mechanism that we’re all subject to,” he says.

Metals have not been behaving the way they historically have and should be.  This is why Treasury Secretary Mnuchin trots out the goods or the wares to make people feel more reassured that nothing is amiss and America has all the gold that it claims to have.  Look, we have a fresh new audit right here that says all is good.  But is it really?

“Well, the reality is all is not good,” Kirby says.  “There’s been a lot of chicanery that has occurred in the precious metals markets.  As evidenced by the admission of JP Morgan ex trader just last week.”

The markets have been rigged and evidence of this is spilling back into the markets.  Both Australia and Venezuela have asked for their gold back from London but they have been denied.

And there’s precedence for this too, Kirby says.  It was five years ago in 2013 when Germany asked the American Federal Reserve if they could come and audit their gold that the Fed was holding for them in trust.

“They wanted to come in and look at the bars and inspect the bars and assay some of the bars, and the Fed said no you can’t do that,” Kirby says.  “And the reason that was offered at the time was we don’t have the room to allow you to complete this.  We don’t have enough space to accommodate you and your request.” 

It was not long thereafter that the Germans said well if we can’t audit our gold you’re holding for us we’d like some of it back.  And then they were told no to that as well.

So why is everybody hanging onto their gold?  We have Venezuela and Australia being stiffed by London.  Are they holding it because they think there’s going to be some sort of a reset?  Or are they holding it because they know gold is going to explode in value? 

“A reset will come at some point in the future,”Kirby assures us.  And it may be very close at hand, or it may not.

The debt is colossally overpriced.  And the price of gold is colossally undervalued.  “So a reset would mean that the value of debt, or the value of bonds is going to take a big haircut as the price on the bonds is going to go down dramatically, which would imply that yields have to go up and the value of precious metal has to go higher because there’s an insatiable demand for physical precious metal in the world today,” Kirby says.  “And central bankers are accumulating gold today at a rate they haven’t done in literally decades upon decades.”

Real Eastern money isn’t biting on Western banking sorcery where the financial powers work hand in foot with the lapdog mainstream media promoting alternatives to physical metal like GLD and SLV in silver, different sorts of certificates and paper programs where they sell people promises of gold but not the real thing. “People in the East, the Asians, the Russians, they’re well up the curve on the truth that the metal markets have been rigged with the futures markets and the paper price and that’s why when they buy precious metal they demand physical bars.”

Banking in gold is completely different in the East than it is here in the U.S.  Kirby calls it dislocation.  “If you’re talking to a prospective buyer of metal in the Eastern world they’re going to want nothing but physical metal,” he says. “But if you talk to a hedge fund manager in New York he will buy GLD if he wants gold or SLV if he wants silver exposure and they will believe that they really own gold or silver.”

The problem is it’s only going to get more difficult for banks as well as individuals to get their hands on tonnage of precious metal,especially silver.  “Interestingly it’s harder to get a large amount of physical silver right now than it is to get a large amount of physical gold. Silver is very difficult to obtain in the market,” Kirby says.

Purchasing large amounts of precious metal is not as easy as it used to be, especially here in the West.  There seem to be many roadblocks in the way of such purchases.  “The kind of roadblocks are the same kind of roadblocks that are showing up in Venezuela in their attempts to repatriate their gold from the bank of England,” Kirby says.  “I’ve done some reading into the reasons why the Bank of England is denying Venezuela the repatriation of their physical gold. And one of the reasons offered was because Venezuela hasn’t given a good enough explanation to the Bank of England as to what they were going to do with the gold once it was returned.”

That’s a very lame excuse not to return their gold.  There’s got to be something bigger going on and it has to do with the financial system and what’s going on is a battle to claim ownership to the world’s gold as the dollar markets collapse.  Everybody’s jockeying for position from a geopolitical and global economic platform and threatening to blow each other up with a combination of nukes and banks as we wind down the road to something very huge and costly.