Actually the European union has the largest official gold reserves of the world. http://www.elitetrader.com/vb/attachment.php?s=&postid=2086287 Or there must be more gold in Fort Knox then they'd like us to believe that is.
well, i dont know, who has to back up the EURO but i think it is the European cantral bank, not the single nations. And the ECB has 15% Gold reserves, 70% USD and 15% Yen... the single nations have more gold, thats correct.
There is the deep storage gold and US hold more gold than the next 2 counties on the list combined but of course less than EU.