Posted on 07/12/2025 12:05:26 PM PDT by delta7
this lame-ass story didn’t even say if the “revaluation” of gold would raise or lower its value!
Agree - Bunch-o-babble.
The gold has been unburdened by what has been.
I believe that was Musk that originally said that. But if can provide proof that Trump promised he would audit Ft Knox, I won’t call you a lying POS.
It would raise it, of course.
Gold is only valued on central bank balance sheets at $35.
Official Treasury holdings, mostly confiscated from the public in the 1930s and known as “coin melt bars” are 90% fine and not considered acceptable as “good delivery” for settling futures contracts. But, supposedly around 6000 tons.
At current prices they represent maybe 3 months of government spending. Chew on that a while. Officially gold is $42.22 a revaluation last made in 1968 when the government was eventually forced to suspend convertibility, so much gold was leaving the vaults and being traded the floor of the London exchange collapsed. Charles De Gaul of France sent a warship to pick up bullion in exchange for dollars. Nixon gets a lot of flak for “closing the gold window” but his hands were tied, he had little choice.
I will take a minute to spoon feed you, son.
“We’re going to go into Fort Knox to make sure the gold is there… do you know about that?” Trump said to a reporter aboard Air Force One,……
https://www.foxbusiness.com/politics/trump-backs-confirming-fort-knox-gold-there-treasury-says
“ We’re actually going to Fort Knox to see if the gold is there. Because maybe somebody stole the gold. Tons of gold,” Trump said Monday afternoon at the White House.
…..and on and on….
Ya, tongue in cheek. He said they would have a look-see, and maybe they did. Hardly a statement promising to audit Ft Knox.
“I will take a minute to spoon feed you, son.”
HAAHAA‼️
‼️THWACK‼️
The Musk/Trump audit talk was ridiculous. The gold is in Fort Knox repository. It is inventoried and tested constantly (room by room) for yearly reporting and the idea that it has been stolen is a concept embraced by people who watch too many movies.
The Fort Knox Repository is monitored 24/7 by humans and all manner of above and below ground sensors. Almost every inch is covered by cameras. The vault cannot be opened by one person (there are something like 12 people who each know a fragment of the combination and who all must be present in order to enter the complete combination). There are numerous individuals who have spoken about the gold holdings, people who actually witnessed and or tested the gold at Fort Knox within the last few years. In order for gold to be missing, it would require a conspiracy of hundreds of people.
This is not a time critical item.
It takes months to prepare.
You are funny.
It’s time for gold to do what it has been doing, and that time is every day!
Um, actually whatever is there is in sealed vaults. The seals are signed by mutiple agencies. In my lifetime, one of the vaults was opened in 1974 and then again, may have been the same vault, in 2017.
.
“ Gold is only valued on central bank balance sheets at $35.”
Pretty sure it’s been $42 since 1971.
Wow! delta7 must be somebody. She’s got a sycophant and everything.
“Since then, the annual audit consists of having the Office of the Inspector General (OIG) of the U.S. Department of the Treasury inspect the seals for any signs of tampering. From 1993 to 2008, the OIG began auditing selected compartments and choosing a statistical sample of gold bars to be weighed and assayed by independent assayers. The total discrepancy from 2004-2008 was 0.0078 troy ounces, which is immaterial. Given the size of the gold reserves of the United States, the discrepancy needs to be at least $310 million to be considered material.”
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