[Wingy]

This is a well written article that lays out the facts for the uninitiated, but I've been reading about this for 10-15 years. The info is true, as far as I can tell, and the only thing that keeps the markets afloat is the ignorance of the general public, and the size of the pot that they started with. As I understand it, the last audit of the vaults at Fort Knox showed approx. 8600 tonnes. In 1972! The rumor is that if another audit were done today it would find many empty drawers, and some say they are all empty!

My thoughts are that when the Fed drives down prices, it's like a sale, so time to buy. $1250 gold is certainly cheaper than $1900, and in the quantities that I can afford, fit in my safety deposit box with no problem. No need to store in my boat...

[FreedomPoster]

I moved gold for a few weeks at Fort Knox in the Summer of 1977 as part of an audit. Similar audits had been going on for the previous two years. I’m pretty sure the 1975 audit was the first one in quite a while, and I know the audits continued for at least a couple years after 1977.

I’m not sure where the 1972 number came from. My understanding was that the 1975 audit was the first one in some time.