Free Republic

BREAKING: Senator Rand Paul calls for auditing Fort Knox to make sure the 4,580 tons of US gold is there. @RandPaul Nope. Let’s do it.

The US gold reserves - last "audited" in 1974 - remain shrouded in secrecy. Elon Musk's recent query sheds light on decades of opacity. Let's delve in. The 1974 “show audit” inspected only 6% of Fort Knox’s gold. Politicians and journalists held bars but none were assayed, tested for purity, or matched to serial numbers. Foreign gold stored there added confusion. Critics call it a “pep rally,” not proof. US gold is valued at $388B unrealized value at Fort Knox alone. The Treasury’s statutory rate—unchanged since 1973—ignores today’s ~$2,633/oz market price, masking trillions in potential national wealth.

Inflation is pernicious and widespread – silently siphoning the purchasing power of the U.S. Federal Reserve note “dollar” from the savings of the American people year after year. Meanwhile, central banks all over the globe – from Saudi Arabia to China to Egypt and beyond – are buying gold at breakneck pace. Some global banks, including the BRICS nations (Brazil, Russia, India, China, South Africa), are even considering a non-dollar alternative to the Federal Reserve note for global trade settlement. As geopolitical uncertainty increases, precious metals have gained renewed attention; savers, savvy investors, businesses, and even state treasurers are taking...