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IPFS News Link • Afghanistan

Did The NY Fed Confiscate $1.3 Billion In Afghan Gold: Striking Revelations From Afghanistan's..

• https://www.zerohedge.com, BY TYLER DURDEN

Conveniently, overnight Reuters provided a handy breakdown of the international reserves owned by the DAB (as the Afghani central bank is called). The most recent financial statement posted online shows DAB holds total assets of about $10 billion, including $1.3 billion-worth of gold reserves and $362 million in foreign currency cash reserves, according to currency conversion rates on June 21, the date of the report. Notably, a big chunk of the reserves aren't held in the country as we observed yesterday.

Digging deeper, the DAB's June statement stated that the bank owned investments worth $6.1 billion. While the latest report did not provide details of those investments, a breakdown in the year-end report showed that the majority of those investments were in the form of U.S. Treasury bonds and bills, most likely held by proxy at the Fed where they make up a portion of the $3.5 trillion in securities held in custody by the US central bank. 


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