How much gold reserves does the United States hold? (DOGE Audit)

https://www.foxbusiness.com/politics/how-much-gold-reserves-does-united-states-hold ^ | 2/18/2025 | Eric Revell

[bert]

This will be interesting just to learn from whence will come the lamentations. Anyone who complains is going to be deemed a gold thief

[Jonty30]

Just as an aside.

The value of 4780 tons of gold is $542 billion.
If that 4780 tonnes of gold was really tungsten, it would have a value of $200 million.

[hardspunned]

Why did London ship hundreds of billions in gold to NYC recently?

[HYPOCRACY]

How much is an ounce of tungsten? Asking for a friend.

[HYPOCRACY]

Got it. Thanks.

[Jonty30]

Musical chairs. When the audit is over and the 4780 tons has supposedly been confirmed, they will send the gold back so British auditors can confirm that they still have their own gold.

[Jonty30]

An ounce is an ounce. However, the standard gold brick is 400 troy ounces, which is 27.4lbs. For tungsten to be made to the size of the standard gold brick, it would weigh 27.33lbs.

[Qwapisking]

“those who complain the loudest about budget cuts make it easier to follow the money” L.Star

[alloysteel]

There is a method of bookkeeping at Ft. Knox, in which the gold never leaves the vaults, but is merely shifted around from one country’s designated pile to another country’s designated pile, but never removed outside.

Sometimes the title to the gold gets a little complicated, with several conflicting claims to the same stack.

[Jonty30]

I can only say, “yeah” to that.

Today, it will be US’s gold. Tomorrow, it will be Europe’s gold. Thrusday it will be Africa’s gold. All depending on where the audit is being done.

[TalBlack]

If the gold is gone how did they get it out of there?

[PGalt]

? Good question. How much money is in your bank? If everyone wanted THEIR money from said bank today, would the bank be able to come up with it?

[wny]

If the government assures us the gold is all present and accounted for, that’s the best reason for doubting it …….

[oldtech]

If the U.S. Treasury reports X number of ounces/pounds of gold, then I guess it better be there or someone is hauled into court & PRoNTO! Isn’t that part of the law?

[MinorityRepublican]

[bert]

I will suggest that in reality, no one actually knows more than what is posted on the ledgers

[bk1000]

“ If the gold is gone how did they get it out of there?”

[Justa]

But, but it’s our good faith and credit. Isn’t that good enough?

It’s the same as other countries. They’re all fractional reserve currencies with unaccounted for assets backing their inflating currencies.

[PIF]

The value of 4780 tons of gold is $542 billion. If that 4780 tonnes of gold

ton=2000lb
tonne=2240lb

[Palio di Siena]

Any old accountants out there remember the salad oil swindle that we learned about in auditing class getting ready for the cpa exam?