The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is responsible for the Second District of the Federal Reserve System. The Federal Reserve Bank of New York acts as the market agent of the Federal Reserve System, the sole fiscal agent of the U.S. Department of the Treasury, the bearer of the Treasury's General Account, and the custodian of the world's largest gold storage reserve.[1]
Coverage[]
The Federal Reserve Bank is featured in Heavy Metal starting in 1 day after people.
The show give information that it holds more than half a million gold bars worth $200 billion, the accumulated wealth of some 60 foreign governments and central banks. Steven S. Ross stated that there are more gold in the basement of the Federal Reserve Bank than has been gathered at any other place on Earth and in history. The gold is stored 80 feet below street level, protected from the vault by a rotating 90-ton steel cylinder that forms air and watertight seal with the surrounding 140-ton steel and concrete frame. Steven S. Ross stated that gold lasts forever because it doesn't corrode and tarnish. Gold is known as one of the most non-reactive metals on Earth and it can resist disintegration by the molecules when exposed to air or water.
It is soon revealed in 10,000 years after people that the Federal Reserve Gold Vault is hundred of feet below ground and inundated with water from the rising seas, with the crypt itself is corroding. The largest stockpile of gold ever assembled on Earth still remains well-preserved. Jan Zalasiewicz stated that when the vault is underground and encased in steel, it tend to pit and corrode unlike the surface which it rust. While the steel eventually corrode, the gold bars themselves would not just last for thousands of years, but even millions. Steven S. Ross theorized that when the future archaeologists finds it, they'll wonder about the culture. The gold at the once Federal Reserve Bank lives on as a precious metal.
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