New York City Fed Holds Millions In Gold

    Published: 06-16-2009
    Views: 14,816
    New York City Residents Unknowingly Walk Over Billions of Dollars of Gold

    Tom Holmes: Most New Yorkers are so busy they don't see all the hidden treasures around them, even if it's lying at their feet. Five stories below 33 Liberty Street at the Federal Reserve Bank sits 25% of the world's gold.

    Annie Desmond: The Federal Reserve is the largest holding institution in the whole world. 36 foreign governments keep their gold there. I mean if you look at it, it's built like a fortress.

    Most New Yorkers I don't think even give it a second thought, but much like most New Yorkers have never been to the Statue of Liberty or the Empire State Building either.

    When you go down to Wall Street then you see all of that security around the New York Stock Exchange, but you don't get that same sense at the Federal Reserve and I think that's how hush-hush they keep it.

    Tom Holmes: And just what does the famous vault look like inside, that's roughly $355 billion, yes billion with a B.

    Annie Desmond: The men that work there they wear these big steel tip shoes, just in case one of those bricks falls on top of them.

    Tom Holmes: The only way you could see this incredible display of riches for yourself is signing up for the select number of tours that are offered in this high security building. Go online to the Federal Reserve website and book your tours directly. They will be closed for renovations and won't open until January 2012. So act fast and go see for yourself some of the riches in the grandest city of them all.

    This is Tom Holmes reporting from New York.