Posted on 09/30/2024 7:22:40 AM PDT by delta7
This should have made the news.
Gold up 45 percent YOY
Silver up 51 percent YOY
https://goldprice.org/
This is a fascinating little mystery — is the gold really there? And in recent years foreign nations have quietly been requesting that the gold we’re holding for them — for safekeeping — be returned.
Gold pulling back from historic highs today.
Paper gold being sold driving price down, paving the way for more CB purchases. All the while more contracts being converted to physical.
World prepping for War.
What are the potential consequences if the gold is not still really there, in the quantities purported to be? That is, if it was made transparently public that we had little or none?
The BRICS nations are reportedly looking to create a new world reserve currency based on gold to replace the dollar. Even if the US gold reserves are real (and there is great doubt) there are rumors they were sold off years ago and/or alloyed with other metals so they are not pure gold. Even if they are pure gold the 8000 tons we have are only worth about $700 billion dollars (a very small fraction of our national debt). We are essentially bankrupt.
Check Menendez’s suit pockets.
I thought the Fed repository in NYC held more gold...
That’s what Die Hard 3 said.
The USA could issue debt, to be bought by the Federal Reserve - and buy gold with it.
“I thought the Fed repository in NYC held more gold...”
Not after Die Hard With a Vengeance.
It's the private non-federal FED that issues debt, which the USA borrows at interest, then the USA could buy gold with it.
The USA could issue debt, to be bought by the Federal Reserve - and buy gold with it.
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Trumps rumored Treasury pick is a big gold bug,honest, Constitutional money…BUT the cost will be? Gold has seen a 40 percent plus increase YOY, and rising…the World’s Central Banks have been buying historically for almost two years now ( since the World Bank and BIS made Gold a Tier One asset). They definitely are preparing, most likely tge Brics Unit backed by Gold.
The more probable outcome, stepping up our gold mining and then possibly nationalizing them. Like oil, we have it, but prohibited by the Green Deal to mine it.
That said, getting it out of the ground in known deposits takes much time, and the average exploration/ discovery/ mined is about 3-5 years.
The very first thing Trump must do is have a full assay audit of our Gold holdings. If ( when ) it is discovered we don’t have what we say, expect a full blown USD collapse.
What are the potential consequences if the gold is not still really there, in the quantities purported to be? That is, if it was made transparently public that we had little or none?
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Total USD collapse, a currency crisis event…..think Argentina, Venezuela,….heck even Tanzania ( the 5 trillion $ notes) has been on the road to recovery by buying massive amounts of gold ( but not convertible)….
That said, I doubt we have what they say, however we do have a reserve, quantity unknown…do realize MANY mining sources, and financial experts state China has now reached 40,000 metric tons!!!
The World Gold Council says much less, but they are liars OR they don’t realizes China has bought mines all across Africa and South America ( I saw one in Colombia) years ago…. ship the gold dore to China for processing, unrecorded, unlisted, off the Comex and LBMA.
They are not proposing- they are doing. Trials been on going between Russia, Saudi and China. I am well versed on the Brics M Bridge Gold and commodities based “ Unit”.
The Brics Summit Oct 22-24 will reveal much- the west will say little about it.
Listen to Trumps speech in Wis, he mentioned the USD IS losing its status, he knows, hopefully he knows what to do….AND NO, 100 percent tariffs on non dollar trade is stupidity…..massive Gold mining ( even if nationalized) will be the only option to remain a viable currency.
The most it could be valued at is close to a trillion.
That mattered once.
It 35 trillion debts, not as much.
For all the USD pumpers- do realize the USD is in long term decline….125 decade ago, now below 100…..Moody’s is set to announce ANOTHER downgrade ( second one) on US Treasuries….we are entering a debt spiral.
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