The Largest Gold Vault In The World Is In New York City #shorts
1Did you know that the largest gold vault in the world is hidden under the streets of New York City? In this video, I will take you on a virtual tour of the Federal Reserve Bank of New York's gold vault, where more than 6,000 tons of gold bars are stored.
The gold vault is located 80 feet below street level and 50 feet below sea level, resting on the bedrock of Manhattan Island. The gold vault contains more than 6,000 tons of gold bars, which is about 5% of all the gold ever mined. The gold belongs to various central banks, governments, and international organizations, not to the Fed or the U.S. government. The gold vault is secured by a massive steel cylinder that rotates to align with the entry hallway. Only a few authorized staff members have access to the vault, and they must be accompanied by an internal auditor at all times. The gold bars are stored in 122 separate compartments, each assigned to a single account holder. The Fed does not mix or exchange the gold bars but returns the exact ones deposited by the account holder upon withdrawal. The Fed charges a handling fee of $2 per bar for transferring gold between compartments or withdrawing gold from the vault. The Fed does not buy, sell, or lend gold but only acts as a custodian for its account holders.
The gold vault has a long history, dating back to the 1920s when the Fed's building was constructed. The vault's holdings peaked in 1973, shortly after the U.S. suspended the gold standard, and have declined gradually since then. The gold vault has some interesting facts and secrets, such as:
- The gold bars vary in size, shape, and purity, depending on their origin and age. Some of the oldest bars date back to the 17th century.
- The gold bars are weighed and measured using a special scale that can detect even the slightest difference in weight or dimension. The scale is calibrated every day using a standard kilogram weight.
- The gold bars are marked with a serial number, a stamp of the country or institution that owns them, and sometimes a symbol or logo. Some of the stamps are very unique, such as a kangaroo, a maple leaf, or a Star of David.
- The gold vault is connected to a network of underground tunnels that link the Fed to other banks and financial institutions in the area. The tunnels are used to transport cash and other valuables but not gold.
- The gold vault is guarded by a sophisticated security system that includes cameras, alarms, motion detectors, and armed guards. The vault is also protected by the New York Police Department and the U.S. Department of Homeland Security.
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