Gold held at the Federal Reserve

[artfarmartfarm]

Sent a question to the Federal Reserve:

Answer:
The entry in the Treasury's balance sheet called "Gold certificate fund ,
Board of Governors of the Federal Reserve System" refers to the
monetization of the gold owned by the United States. The U.S. gold
holdings, which are owned and managed by the Treasury, are monetized by
the Federal Reserve at a rate of $42.22 per ounce. In essence, the
Treasury issues gold certificates backed by their gold holdings; these
gold certificates are used as collateral with the Federal Reserve System
in an operation which increases the liquid funds available to the U.S.
government without having to sell any of the United States' gold holdings.

[Orson]

It is one of the most ironic aspects of our fiat system. The Federal Reserve demands fully gold-backed notes from the Treasury but won't do the same for the Fed notes that they issue.