We obviously need to bring the experts in on this.
Posted on 09/04/2010 2:11:52 PM PDT by Perdogg
Is there real gold at Ft. Knox? According to Rep. Ron Paul, the answer may be "no!" Monetary historian Andy Gause joins Ian to talk about the implications if Ron Paul is right
(Excerpt) Read more at coasttocoastam.com ...
Supposedly there was in the 70s.
We obviously need to bring the experts in on this.
ping
I think the point is not to argue weather there is real gold or not, but what the consequneces would be if it turned out that the gold was not real.
I understand.
The jpeg was in response to "Coast-to-Coast" -- not the subject of the presence or non-presence of any aurum in the Ft Knox vault.
Anybody want to speculate, that if, it was revealed there was none, what would be the closing spot price the next day?
Lead would become the most valued metal that and brass
It probably is there. But there might just be a little note attached to each bar stating: "PROPERTY OF THE FEDERAL RESERVE BANK OF NEW YORK".
Alright, we’ve all heard that one like a zillion times. Are you saying that if Fort Knox is empty, then the next day we’re all cannibals or zombies?
I asked a serious question. Gum wrapper replies don’t cut it.
No its say property of China
“Lead would become the most valued metal that and brass”
I do hold a small amount of Gold Bullion and coins,
However I am Heavily Invested in the other two commodities you mentioned.
You make a very, very good point.
We should probably include Antimony, Tin and Copper in the mix of Investments.
$167,366,379,006.10 worth of Gold in Fort Knox.
Total Claimed Gold Reserves held by the USG: 261,498,095.534 troy oz (= $325,975,680,949.82 at Friday’s FOREX rate of 1246.57 per troy oz)
The M2 for July 2010 was: $8,596,200,000,000. That means that the total gold reserve for this country is only about 3% of the value of the total money supply (minus long term deposits).
The point is that whether or not there is or is not any gold in Ft Knox, we aren’t going back to any kind of a gold standard. I don’t care what Ron Paul, Alex Jones, or George Noory says.
thx thx
In an old episode of “Barney Miller”, Richard Libertini plays an apparent nutjob who claims to be a time traveller (the punchline of this subplot is, the prisoner truck got to Bellvue and was empty, but anyway) who convinces Ron Glass’ character that in what was then the near future, a huge precious metal strike made them worthless, and the entire world went on the zinc standard. At one point Glass’ character is on the phone to his broker, finds out the price of zinc (which was priced by the pound) and says he’ll spring for a couple of ton of it. As you may remember, his character had gotten rich by authoring “Blood on the Badge”. ;’)
That’s a nice shot of Charlie Sheen.
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