Why the Gold of Countries is Not Safe in New York

"I think it’s not safe. It is physically safe, but the US government might steal it. If you have a financial panic and there is a collapse of the dollar, and the US government sees a need to back the dollar with gold to restore trust, there is a risk that the US will confiscate that gold. The US government would add that to the US gold supply, create a new gold backed dollar, turn to the countries (whether the Netherlands, Italy or France) with a certificate and say they could get their gold back in the new system. That’s what I mean with re-writing the rules of the game."

- James Rickards, author of Currency Wars