How much forex reserves do US have?Why US is not there in the list of countries with most reserves?

Question

I have heard that US reserves are on Gold Bullion In Fort Knox Texas.How many days will it lasts if affected by a crisis?

Why financially strong country like US ,Britain,Germany etc and others are not in the list in Wikipedia.But there are countries like China,India,Brazil,small countries like Singapore ,UAE etc
Another factor i have observed is there is Japan one of the financial power house in the list.
Can some one help me in the dilemma regarding why US etc does not believe in investing in resrves.Wht are the other alternatives.

On Wht grounds can we consider US as the richest nation?If it does not have enough resrves to counter any crisis?

Answer 1

The U.S. doesn't need forex reserves. There are three kinds of official reserves: (1) precious metals, (2) foreign currencies on deposit with foreign central banks, and (3) foreign central banks' deposits in domestic currency with the domestic central bank. Most of the U.S. official reserves fall under (3); they are dollar deposits made by foreign central banks with the U.S. Federal Reserve.

As to "investing in reserves", you are mistaken. Reserves are not an investment, they are a cost. The only reason for reserves to exist is to maintain an orderly flow of international payments without causing too much volatility in exchange rates.

On what grounds can we consider US as the richest nation? On the grounds that no other country has as much stuff (houses, factories, cars, airplanes, office buildings, freeways, etc.) as the U.S. does... :)

Answer 2

Ft. Knox is in Kentucky. You make a sound point about the lack of foreign currency reserves. The US government carries tens of trillions worth of liabilities in the form of outstanding bonds and unfunded federal entitlements, and still squanders tens of billions ever year on subsidies and wasteful spending. When the US economy goes under in another decade or so it would be from their own doing.

Answer 3

He who has the biggest gun, the most ammunition and the expertise to hit what he aims at WINS! Ask Saddam Hussein!