Posted on 06/17/2011 11:08:16 AM PDT by Nachum
Gold has given up much of yesterdays modest gains and is marginally lower in all currencies except the Swiss franc. The euro has stabilized despite continuing contagion concerns and an existential threat to the euro currency itself.
Gold remains close to record nominal highs in all major currencies but media coverage in the UK, Ireland and Europe remains minimal and skeptical. Focus continues to be almost exclusively on bond, equity and currency markets with little or no coverage of gold.
The ramifications of contagion and a euro currency crisis which would lead to the price of gold in euros surging has not been covered in the media. This is of course bullish as it shows a continuing lack of understanding and appreciation of golds importance as a diversification and a safe haven asset.
(Excerpt) Read more at zerohedge.com ...
Isn’t some of that gold that was stolen from US citizens in the Great Depression.
They were very sneaky how they did that.
First, the ask the people to turn in their gold. There are rumors that the banks had already been front running and reducing gold in circulation before that.
The people who did turn in their gold got back a gold certificate. Most thought it was going to be a short term thing and did it for the country’s sake. They held gold certificates, what could go wrong?
It was six months later that the gold certificates were to done away with, and the gold revalued to almost double the price it went for before. This doubled the money supply with the stroke of a pen, as it were.
So, there it is. The people had their gold stolen, were given gold certificates back, and then they made then useless. And stole the value of the gold from them, by “law”.
FDR had no honor, nor the thieves who still hold that gold.
This is gold held by the U.S. treasury. It doesn't include gold held by the Federal Reserve. I believe you find verification of that in the notes to the Federal Reserve Audits, which I believe are on this page: Fed Financial Reports.
I have another link to the Fed audits, but can't get to it right now.
Ditto. Some freepers need to understand that the Treasury is inundated with former members of the Too Big To Fail (TBTF) banks and gov workers who do not mind having a lucrative post federal career in the TBTF. If the Fed Reserve said jump, the Treasury will jump. Given this conflict of interest in the Treasury ranks, an independent audit is needed to make sure our gold supply is accounted for including assaying (checking for the bars gold purity). It is interesting that the Treasury vehemently opposes this audit. If they have nothing to hide, they would not behave this way. As a point of reference, the same people (Treasury) opposed disclosing where the TARP money went. When forced to disclose just one year of activity under the bank reform regs, we found a sizeable majority of the TARP was used to pay off foreign banks, corporations and many nonbank US corporations who reorganized themselves under a bank charter. Prior to disclosure Fed Reserve and Treasury sworn the TARP was used to help US economy and banks. The Treasury and Fed Reserve lied once, why are some freepers willing to trust them at their word on the US gold reserve in Ft Knox??? PS- US gold reserve always did a handreceipt type audit (ala is all the gold not physically present signed by someone under a handreceipt), there was never a complete physical inventory of the gold. Anyone who had military service will understand what a handreceipt inventory vs a physical inventory (item physically at recorded location and matching serial number) is.
The History Channel did a documentary a few years ago and in the course of the program they showed an audit in progress. Audits therefore do happen. But there’s also a lot of secrecy and I can understand needing to keep things as secret as possible,
As to Mr. Paul’s sudden interest (which, of course, has NOTHING to do with his run for President...he wouldn’t gin up an issue just for some free media...right?):
“In Season 3, Episode 13 (”The Two Bartlets”) of the American television show The West Wing, a meeting takes place between a senior white house staff member and a UFO conspiracy theorist. The meeting was called in order to secure an audit of the Bullion Depository, as the theorist alleged that it was being used to store wreckage of an alien spacecraft rather than gold.”
“I wonder how deep the gold coating on those tungsten bars is?”
Archimedes would know the answer.
Many freepers are not aware of the tungsten filled gold bars bearing US serial numbers that were found by the Chinese when they open their own gold deposit facility in Hong Kong and asked recalled all their overseas holdings and had their gold shipped to the facility. US gold bars bearing US serial numbers that have been circulated internationally when gold was used to settle accounts were found to be filled with tungsten. Reporters interested in this story know that tungsten made to the dimensions needed for the gold bars is no small operation. They have approached major US tungsten smelters and found that the US gov did ordered a large number of uniquely dimenstioned tungsten bars. The smelters still have the paperwork for the unusual order. Is there a link to that tungsten order to the tungsten filled gold bars with US markings??? If so, what happened at Ft Knox? Did someone steal the gold and the US gov tried to coverup the robbery and shortage? Did the gov secretly loan out the gold to their buddies at the COMEX and LBME to help them cover their gold shortage in their fractional banking approach to gold contracts (ie sell more paper contracts on gold then gold physically available at the exchange). Such gold bar loans are illegal and could the tungsten filled bars be used to cover the shortage? Worst if the US during the gold backed currency decided to print more money then gold available to back it decided to make more fake bars in order to have a larger circulation of dollar bills???? No one really knows unless a top to bottom physical inventory is made complete with assaying and serial number matching is done.
You nailed it.
Wouldn’t surprise me a bit if they do it again. This time won’t be restricted to coins or bullion. There’s a lot of gold in American homes, i.e. jewelry boxes, coin collections etc.
Imagine a “Be a Patriot, Turn in your Gold for America!” campaign.
Sorry, Megan. You’re dead wrong.
Ron Paul has been calling for an audit by external agencies for as long as I can remember.
“Ron Paul has been calling for an audit by external agencies for as long as I can remember.”
Then if that’s the case it’s high time he got the idea that, no matter who in charge of the Treasury, Fort Knox like Area 51 is not open to inspection.
He’s beating a dead horse and it’s time to move on.
I will say if he’s elected President (and monkeys fly out of my a**) then he can order an audit at that time.
As a gold and silver investor (physical only), this audit is very important and it’s about damn time.
Fort Knox is OUR bank account, OURS!
The government works for us.
We want to know how much we have in our account.
(I certainly hope that you are smart enough to balance your own personal bank account)!
It’s not rocket science, my dear. The govt. is hiding something or they would open the books to the American people.
Ron Paul will never be President and he knows it. He is only trying to wake up the American people about the suspicious activity of the Fed in regards to OUR money.
Don’t try to argue your case until you can come forward with some strong facts. You have nothing to gain by continuing to embarrass yourself by spouting off Democratic talking points.
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