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do buy gold.
The Federal Reserve bank doesn't need to buy gold, because the dollar isn't backed by anything.
They can print as many dollars as they want to inflate and devalue your currency. So the fed doesn't buy gold because they don't need to have any in reserve.
But the fed's owners do buy gold, silver, and other precious metals by the kilo-ton.
Bernacke gets up before congress and belittles gold, but at the same time he buys it for himself religiously.
The Fed doesn't purchase gold, but the owners of the fed do.
When you hear that the fed doesn't hold gold, that's true, but the owners of the fed can't get enough of it.
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