Posted on 08/12/2011 7:41:01 AM PDT by Dubya-M-DeesWent2SyriaStupid!
"In September, Treasury completed its latest audit, showing that U.S. gold reserves total 9,300 tons with a market value of $320 billion, Thorson said. The recent run-up in gold prices -- the precious metal is trading at about $1,515 an ounce -- puts the market value at $340 billion as of Wednesday, according to Thorson's testimony. He added that each gold bar weighs about 27 pounds and is worth around $500,000.
Paul said that his questions were partly in response to the numerous Internet conspiracy theories, including those that accuse the government of secretly selling all of the gold in Fort Knox."
(Excerpt) Read more at money.cnn.com ...
Seriously exactly how much do we owe China? And what means can we pay them back and take America back- even if the entire government has to be laid off/cut in pay/severely downsized/do 80/20 health care and live on Ramen Noodles every day until the budget is balanced?
No more borrowing from Paul to pay Paul to pay Peter.We must think of it like a typical American household budget and act responsibly and pay the debt first no matter what it takes.Any ideas of what we can sell before cutting entitlements to pay off China and cut our deficit?
Some ideas to raise revenue without taxation:
1. Open all federal lands and offshore blocks for drilling, and collect leases and royalties on an open market price basis.
2. Ditto above, but for mining, and grazing and timber.
3. Federal lands not suitable for drilling, mining, grazing or timber should be sold.
4. Sell title outright to the radio spectrum, and abolish the FCC.
Excellent ideas but first and foremost the POTUS,VP,SENATE,CONGRESS all need downsized and cut in pay. With the POTUS making $499K a year they get COLA’s we don’t.We need all jobs brought back from over seas,all steel mills, factories,foundries re opened immediately.The EPA needs downsized and unpolitical. No more GREEN crap beyond recycling.
That video says there has been no fort knox audit since the 1950’s? I think the article Iinked in this thread c/o an audit costing millions?
Government owned Pacific Northwest timber in particular is terrible...almost all timber land there is owned by the federal government. Douglas Fir trees are money trees--a huge resource--that government land produces less, even with the best resources, then almost any forest area in the world.
I;m aware that the video is older than the article.
I’m only pointing out WHY it has taken this long to do an audit and more importantly ‘just because you see all of those bars doesn’t mean that they are real...
Many people suspect that the real gold bars were replaced with fake ones back in the 90’s...
You misunderstood me. I am lost about fort knox is all and I was pointing out they claim an audit would cost millions. It is all strange. If there is gold there why not sell it now? It is too simple for the progressive communists that want us to default.
Abolish the Dept of Energy. They have squandered billions and not put 1 damn barrel of oil into the market.
See funding chart at this link: http://www.cfo.doe.gov/crorg/cf30.htm
Abolish the Dept of Energy. They have squandered billions and not put 1 damn barrel of oil into the market.
See funding chart at this link: http://www.cfo.doe.gov/crorg/cf30.htm
Yes, I agree. First downsize the federal government to its strictly enumerated functions. In Grover Norquist’s words, the ideal size for federal govt is “small enough to drown in a bathtub”.
Then sell federal assets until the debt is paid in full.
The remaining downsized fed gov should be able to fund itself from rents, royalties, import duties, tolls, user fees, and the sale of postage stamps. All other federal taxes abolished.
No borrowing unless authorized by 2/3 of congress in conjuction with an actual declaration of war.
ThirdMate as POTUS.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.