behind these walls is one of the most secretive organizations in the world u.s. federal reserve websites to audit them it's a wall this place is impenetrable for body we years the u.s. federal reserve has been the place where many countries of the word a big chunk of their nations well as the countries whether it's different waves of economic crises around the instability the federal reserve seems to them like a more or less secure place to keep their funds but are the funds really secure or are they even being there has been speculation for a long time that the fed doesn't actually have much gold that has either sold it all lent it out or used it as collateral for borrowings either way there are many claims that the gold that is being stored on behalf of many nations doesn't actually exist germany has recently decided to bring home all these gold but the federal reserve says that it's not possible that it would need until two thousand and twenty to be able to accomplish such a transfer germany then asked to visit the fed vaults to make sure that the gold is

actually there but the fed first refused to permit germany to exempt examine its own gold then the germans apparently assisted in the fed did open only one of nine rules but they were not permitted to either enter or touch the gold the german government has stored about half of its schools supply with the us federal reserve so they are understandably nervous this makes not only germans nervous of course u.s. financial institutions have a history of selling things that don't exist one example last year goldman sachs were proven to have been selling gold certificates to the public saying that they were backed by real gold in their balls but the story leaked out as if they'd fact held no gold at all and were doing the so-called fractional reserve gold banking on the basis that few people would want to claim their gold at any one time and looking further back in history during world war two when the fed came to many countries in asia latin america and africa. and told them their gold holdings might

not be safe because of the war and that they should permit the fed to take all of it to the u.s. for safekeeping many countries have done that receiving said gold certificates in exchange but when they later tried to cash in those specific kids and reclaim their gold they were told the certificates were fake that they contain spelling and other mistakes so on and so forth and the fed still has all that gold the power of the u.s. federal reserve has grown dramatically especially since the one nine hundred seventy when the u.s. cut the link between dollars and and gold that allowed the u.s. dollar to be bought and sold freely on the market and with the u.s. dollar being the main reserve currency the u.s. has basically been able to tax the whole world in just the value of the country holdings by printing more money now we see many countries trying to maneuver away from the u.s. dollar is the main reserve currency and we see many central banks increasing their

own gold reserves and he seems after all these years the world decided they put too much power in this one building. the germans were infuriated when the u.s. federal reserve didn't even let them examine their own ass to speed or boeing or the founder and chairman of german precious metal association says that is a bad sign. we have pressured business bank a lot we have sent a lot of questions there and other people parties have as well we have to know why they are not doing a proper audit we're not pressuring their partner central banks especially the fed to do proper audit if that's not possible for whatever reason whether or not repatriating the gold so there's a lot of reasons and questions unanswered the u.s. or the fed is nowadays monetizing between sixty and eighty percent of newly admitted federal debt federal treasury treasury bonds there's basically no. foreign free market buying for the u.s. dollar treasury debt and that is bad news it says something around the quality of

the u.s. dollar as a reserve currency of china and india will probably consume two thousand three hundred tons together of gold this year which is almost one hundred percent of world mining production. remember all of the furor over the size of the u.s. debt earlier this year what happened to all of that well you can find out next in venture capital. oh. right to. search for you and i were being featured.

on our reporter's twitter. instagram. telling you that welcome to venture capital with the nikkei fees will be this week china has been putting the stock into gold but is it all about savvy investments or always witnessing the transformation of the global financial system as we know its analysis on that one plus if britain is ready for the shell gas revolution and will weigh out the pros in the calm cool when used to come as well as checking in with our in-house investor has shown so much to find out what he's been working on in

terms of the russian stocks and how his ten thousand u.s. dollars it is for full day that's also come first of all the talk about the eurozone because the region is officially out of recession. has been a roller coaster ride for. since two thousand and eight when the worlds began to give way and the only direction seemed to be down but the mechanics of the system seem to be coming together well some parts of and away the region happy as a whole has grown no point three percent in the second quarter of this year after enduring six months of contraction in the front row seizes germany along with france as you can see that but what about the rest of the eurozone passages where the likes of spain and greece demonstrate that the right as a whole may not be entirely safe just yet now for more on these latest growth figures i'm joined by steen jacobsen from sachs a bank hi steve good to have you with us today can you tell me what was your initial reaction to the fact that the eurozone is now officially out of recession.

well first of all of course it's great news that we are finally seeing some sort of attraction on the growth perspective but also must say that i'm very skeptical about the ability to maintain this momentum as we look at the underlying data which is going to support growth long term unemployment rate still elevated lending in the banking sector a very limited. miking the issue being that you remain without the a some means to eighty percent of the economy being activated so skeptical but happy to see that you're finally having a little bit of success i think back in two thousand and eight two thousand and nine if you just said to somebody then we'd be having these kind of conversations in twenty thirty there would have been a roof if asked to go easy on having said that do you see the eurozone sticking together now. think europe has locked itself in

a corner it's painting itself into a corner where it's very difficult to extract himself from unless we get a new crisis point because i think what we learn from the history of the last five to sixty is in europe it's that the only changes state is mandated in europe comes when the market is pressuring the politicians all you see stock markets coming down so unfortunately like in history i think the only way we get resoled and mandate for change will come through that exciting new crisis point which i think will be back to our starting point as weak growth what we risk right now is clearly a jap and i ses and in europe doing nothing doing too little and waiting reforms to happen naturally it will not go that way unfortunately i case it stayed here is that you know out of the danger zone yet then. no but you know any news is good news in terms of positive growth but overall we need to see the structural elements is imbalances be dealt with and then we can have some hope but i don't think we're

too forward but it's not going to be in thirteen and probably not in fourteen. thank you very much indeed that stephen jacobson from sachs a bank. a global shift is happening china is set to take over from the us and become the biggest consumer of oil there and i one of the main reasons for this shift is the u.s. is becoming less reliant on foreign oil because the domestic supply has been revolutionised by shale gas talking to show gas one place where fracking has bought a huge debate is the u.k. now on the pro fracking team is the british prime minister david cameron who thinks development of the shell gas will create much needed jobs an estimated seventy four thousand in family here are some of the other benefits mr cameron is claiming is well. sim vironment this saw a lead in the anti fracking campaign and his the reasons now according to the way

system ations five hundred years worth of gas supply is lying beneath britain right now so how we shall get such xstrata that want to have a so the process of fracking involves drilling a hole deep into the dent shell rocks that contain contain the natural gas and pumping in a very high pressure a vast quantities of of water mixed with sand in chemicals in this opens up these tiny fishes in the world now through which the trapped gas can then escape it bubbles out and is captured and brings it all the way to the surface and then and then it's point count now i asked chris we thought a senior partner with advisory whether fracking is the way forward for britain now as to what it practical to have an overall economy of course is very much the. question is the u.k. and this other resourced extends to optimist or. see there is no question about it we're considerably north energy basically energy cost of history goes to comparisons of the manufacturers an industry. in general and that's what the

u.k. government is the key they see that shows yes i'm sure it always has been a fixed us economy and has been that least one of the factors in the us economy called the notion of this. i'm showing decent girls this year so you know you could expect their government is looking for ways that it can also sustain what is still a very fragile. economy and moving on to some corporate news that here brush up on some of the biggest business stories that rocking the country will start a way that rushes ross at the balls to give companies traded oil per. case as a by john oil and gas still as applies on is the third biggest oil exporter in the former soviet union to russia and hasn't stopped. russian billionaire metals magnate i got a past case the montenegro for one billion dollars by the fact that. pay

pal is launching ruble transactions starting up from september the russian ruble will become the payment systems twenty six cards check in with our in-house invest . thomas to find out how he's been getting on with the russian stocks have been good to see you so as we know you were given ten thousand u.s. dollars to invest a second week in the jobs who we are expecting results to tell us how you can get a well i was expecting results too but i'm going to have to say wow this is confusing ok so when the numbers are going up and down in the charts and graphs are all over the place when it's going down that's bad right so bad ok so i decided i was going to like have some faith in their pocket because you know he had this idea to look to the east not a good. being i took a bath nosedive it went down i'm getting out getting out getting else down at four point seven two percent and still falling i'm just going to get out of the metals

business altogether roussel being the largest aluminum company in russia it's not doing too well at this point time some good news though we talked about telephones and megaphone they had a pretty good week they've been up not as bad as resolve been down but they are they're up about zero point eight percent so i didn't lose my shirt in this whole thing but man this is confusing stuff while it sounds really confusing and you've. got that's good news indeed well also russo all they're actually having some meetings this week to talk about even closing down some of their facilities so it really is time to get out on that one as far as i'm concerned ok and what's up his sleeve for next week all right so energy oil everyone talks about how russia is like an energy giant and this is what they know so i'm going to try and do some recuperating from this huge roussel loss i'm going to go into gazprom and see what i can do on the oil side of things because i hear gazprom is rolling in fact

they're up two point four percent so i think i'm going to look to the future and look to the energy stocks this week and it's the gas problem that's what you're all about we'll be checking back with you next week to see what you've been up to stay away from metals you've had a bad run of it and mega-fun as well said he she got a bit of direction all right showing thomas a fully clothed show in thomas just i will see you next week all right thanks. china has been building up its gold reserves in a record numbers in preparation for what some see as a revolution of the global financial system now this current buying spree is fueling speculation that china is preparing to adopt the gold standard now this follows comments made by a member of the. people's bank of china committee calling for a new system to stabilize global exchange rates so this is where all the gold is

right now you'll be able to see behind me and as it stands the u.s. holds the world's largest go but it is suspected that go to china has up to ten thousand tons of passing that of the u.s. so all the dominating days of the u.s. dollar as the all powerful reserve currency over what i'm going to get some experts and irises right here from dots william wilson from business schools to tell me presuming that china is is doing this on purpose this is why it's buying up all the gold is the right decision is this the right way forward we do it china's been buying gold in recent years the quote we don't know how much gold the chinese officials have not released any official statistics on it but the we know this the chinese are three point five trillion in foreign exchange reserves there's about fifty percent of their g.d.p. and they're worried about the value of the dollar of the world's major reserve currency five ten years from now so they're looking to diversify those mess.