[penelopesire]

“What does it matter if the Gold is there or not?”

Seriously? You don’t think it matters just because ‘we owe’ China so much money? I guess with your kind of logic we should not care whether we hold any deeds to property because thanks to Obama,in 6 years we will owe China more money than all of the property in the United States is worth as well...lol.

I see your point, but unless we have already shipped that gold to China..it is still OURS!!

Possession is 9/10’s of the LAW!!

[RedMonqey]

Seriously? You don’t think it matters just because ‘we owe’ China so much money?

The United States have been off the Gold Standard for years and it is only the "good faith and credit" (backed by the goods and services in the United States economy) United States can fiance it debts and foreign investors trust the US government can service this debt.

It is a not so minor actor in the ability of governments to aggrevative inflation and thus steal your money without taxes or the aid of a gun. Just print more fiat currency( paper money without equal fianceial backing )

It doesn't matter if there not one flake of gold at Fort Knox. In the same way it doesn't matter that a bank doesn't have the equal amount of money owed by depositors in stacks and piles of money and coins sitting neatly stacked in big bundles in the vault it "holds" for depositors. It's invested in the community in homes and businesses.

There's not enough gold in Fort Knox to cover a fraction of the National Debt even if it remained.