Posted on 05/17/2011 12:21:08 PM PDT by statestreet
NEW YORK The next big question on the federal debt limit could be whether to start selling the governments holdings of gold at Fort Knox and at least one presidential contender, Ron Paul, has told The New York Sun he thinks it would be a good move.
The question has been ricocheting around the policy circles today. An analyst at the Heritage Foundation, Ron Utt, told the Washington Post that the gold holdings of the government are just sort of sitting there. He added: Given the high price it is now, and the tremendous debt problem we now have, by all means, sell at the peak.
(Excerpt) Read more at nysun.com ...
We should DEFAULT on the debt and issue a new currency back by that gold.
ML/NJ
klintoon gold plated tungsten bars.
HMMMMMMM What would we sell when all the gold was gone?
Good idea on the nuclear power plants. It also has the benefit of being a location with good security and infrastructure. Especially military bases in the middle of nowhere.
Where is all the gold stolen from bank deposit boxes back in the 1933 timeframe?
http://en.wikipedia.org/wiki/Executive_Order_6102
Cheers!
Is There Gold in Fort Knox?
by Constance Gustke | Jan 20, 2010 | 10 Comments
Protected by a 109,000-acre U.S. Army post in Kentucky sits one of the Federal Reserves most secure assets and its only gold depository: the 73-year-old Fort Knox vault. Its glittering gold bricks, totaling 147.3 million ounces (thats about $168 billion at current prices), are stacked inside massive granite walls topped with a bombproof roof. Or are they?
Its hard to know for sure. Few people have been inside Fort Knox, a highly classified bunker ringed by fences and multiple alarms and guarded by Apache helicopter gunships. When the U.S. finished building Fort Knox in 1937, the gold was shipped in on a special nine-car train manned by machine gunners and loaded onto Army trucks protected by a U.S. Cavalry brigade. And the fort has been pretty much off limits since then. A U.S. Mint spokesman said in an email statement to MoneyWatch that the accounting firm KPMG, which audits the Mint, has been present in the vault at Fort Knox. The Mint wont comment on exactly how much gold is in there, though.
Thats why Ron Paul (R-Texas), a 2008 presidential candidate known for his libertarian streak, wants to have a look around. Paul introduced a bill to audit the Federal Reserve, which includes Fort Knoxs gold. My attitude is, lets just find out whats there, he says.
http://moneywatch.bnet.com/economic-news/article/is-there-gold-in-fort-knox/385523/
In the thirties, governments routinely made payments in gold for public debts to foreign powers. If the US paid out some billions in gold to, say, Germany in 1937, it would have been an ordinary transaction and raised no eyebrows at all. It was a different world back then.
The deal would, for my approval, have to stipulate sale to a US citizen or US registered company.
My guess is it's there, but we're paying to store it for the actual "owners."
Sell New York and California.
Who constitutes the “deadheads?”
Approximately 38% of the federal payroll. The same percentages apply to state and local government.
Dumbass.
Just curious...why 38%?
The U.S. also owns an ENORMOUS amount of real estate PROPERTY!
The feds should AUCTION off MOST unnecessary property before attempting to RAISE the DEBT LIMIT.
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