This is unsettling for anyone who trusts the dollar, because the US can't actually prove its massive gold reserve is still where it's supposed to be.

• The US claims over 8,000 tons of gold in storage, but no independent check has confirmed it's really there in decades.
• The government still values this gold at a price set in the 1970s, far below what it would be worth today, so the real number never gets scrutinized.
• Banks have recently been moving large shipments of gold bars from London to New York, which is raising new questions about what's actually in the vaults.
• If the gold turns out to be missing or short, it could shake confidence in the dollar, push inflation higher, and revive calls for currencies backed by gold again.

Outlook: Pressure for an independent audit of US gold reserves is likely to grow, and any sign of a shortfall could spark serious market and political fallout.