Home Forums Hunting & Shooting Hunter's Campfire Fort Knox is Empty (the Gold's Missing)...

the wheel, what a concept. without going into the details of how best to feed 9 billion people, lets step back a step or two.

at the end of the animal economy, right before the beginning of the age of oil, what if everything stopped with animal power? why didn't that happen? oil came upon the scene at the nick of time.

so, here we are, got a missle to ship us to the moon, mars, or further. what's going on here dude? if we just had more gold, we'd all be more warm in the winter?

Once again you reveal your profound and disqualifying ignorance on the subject. More gold would merely reduce the purchasing power of each holder's stockpile according to the ratio of new gold to old. Since it's so rare an element, however, this rarely happens to any significant degree in relation to world population.

It didn't stop because smart men came through with revolutionary technology that changed the world and allowed everyone to become more productive. Oil also allowed for more efficient machines and the ability to feed the billions of people on earth.

I know you won't comprehend any of this and merely change the subject with more asinine questions, just as you did with the gold conversation.

i'm prepared to intentionally remain focused, with your help, efforts, propaganda and agenda.

so, what are you selling to the rank and file on this day?

REASON.

And you?

pure Logic. ever heard of it?

There is nothing remotely logical in any of your posts...

A=A is what I'm selling...do you understand that logic?

I also apologize for this hijack! I will stop now

It says " In God we Trust " on my bills.

there's very little hi-jacking occurs when Gold is the subject. well, there are robberies of various kinds, types and varieties.

let's agree to engage later, when the conditions best merit our efforts. i appreciate your willingness to engage.

a world without Gold? say it ain't so.

"The U.S. government has NOT done a public audit of the gold in Fort Knox since 1974. Policymakers have ignored all requests for a new audit, too."

I'm pretty sure there's never been an actual audit of the gold that's supposed to be in Fort Knox. I read about one so called audit where a few Congressmen were give a short partial tour of Fort Knox to see some gold stuff that might have been gold but no gold was actually audited.

Don't worry. There hasn't been enough gold in Knox to back the dollar for a long time.

so, if ounce of gold was gone, or at least there, but assigned to other national interests, what difference would it make.

ol TRH thinks the gold should be there, if his chickens can come home and lay eggs every day.

not so.

as long as the Sun rises, the goldbugs can continue to inspire the oxygen in the atmosphere. we're continue to go forward, even without gold. trust me, ok?

let's continue to talk, never to give up on each other. but so many need to be saved, as they are un-enlightened.

Birth Certificates are supposedly used as collateral for the prospective taxable labor/production, which may explain why the govt is so anxious to flood the country with illegal�s who breed like cockroaches.

You lack the minimum in intellectual discipline required for a discussion with you to be profitable to anyone, least of all yourself. You've proved that many times over.

contrary to your goldbug perspective (where did that come from?), life moves forward. just ask the biological people's among us?

i think following gold is engrained in our (your?) DNA?

ecological development is being handed down from God to us Humans. it's a part of the process.

carry on, troop.

Can anyone translate this?

01-31-2008
WSJ today has ad saying Fort Knox is empty
Just picked up 3 copies of today's Wall Street Journal. There is front page article on gold and a full page ad on C-5 about Fort Knox being empty. "We are in a new era believe it or not." - Ron Paul

Join the Ron Paul Gold Rush!

Submitted by SteveMT on Mon, 02/09/2009
in Daily Paul Liberty Forum
Is this common knowledge?
I just asked the question and here is the answer as well as another source. Is this a joke or the truth? We are up the creek if we have no gold reserves. Alternative hard currencies cannot be minted out of thin air! We need hard assets to mint a hard currency.
I need some answers from our PM gurus on the DP about this.

How much gold is in Fort Knox?
Answer:
There is no gold at Fort Knox. When Ronald Regan was President he assigned a committee called the "Gold Committee" to investigate this matter. The results was staggering. There is no gold at Fort Knox. It is being held by the Federal Reserve Bank (which is privately owned by international bankers) as collateral for America's debt. This explains why there has been no audits of Fort Knox. THE AMERICAN GOVERNMENT AND THE INTERNATIONAL BANKERS DO NOT WANT THE AMERICAN PUBLIC TO KNOW THIS. Do you know there was a time in American history when it was illegal to have gold coins? Did you know Americans were required to turn in their gold coins to the federal government for $20.00 an ounce? This gold was melted down and sold to foreign companies and countries for $35.00 an ounce while it was illegal for Americans to buy any gold from Fort Knox. This is and was the biggest robbery of monies ever from the American people.
http://wiki.answers.com/Q/How_much_gold_is_in_Fort_Knox&alre...

I was surprised to learn that the contents of Ft. Knox are actually an asset on the balance sheet of a privately owned corporation and banking entity. That�s right, the Fed owns the gold. The U.S. Treasury is holding the gold for the Fed, not necessarily for U.S. citizens. Both the Fed and the Treasury are on the line if the gold is gone. U.S. citizens will be the losers. The �faith and confidence� behind the global money we issue will.
http://www.investorsdailyedge.com/article.aspx?id=179

Calls for a U.S. Gold Audit Miss the Point
By James Rickards www.usnews.com
June 4, 2012
James Rickards is a hedge fund manager in New York City and the author of �Currency Wars: The Making of the Next Global Crisis� from Portfolio/Penguin.

For those who comment on the role of gold in the international monetary system, one of the most frequently asked questions involves the existence of the U.S. gold hoard. Officially the U.S. Treasury is in possession of 8,133 metric tons of gold stored mostly in two large depositories�Ft. Knox, Ky. and West Point, N.Y.�with smaller amounts on deposit at the Denver Mint and the Federal Reserve Bank of New York.

Yet, as a writer and speaker on the role of gold, the most frequent question I encounter is, "How do you know the gold is actually there?" or some variant. The suggestion is always that the United States long ago dumped its gold on world markets to suppress the price and that the vaults in Ft. Knox are actually empty or, at most, filled with tungsten bars lightly coated with gold paint.

Invariably these critics point to the fact that the Treasury will not permit an audit of the gold as proof of their suspicion. A proper audit would verify both the quantity and purity of the U.S. gold hoard. Ideally, each gold ingot would be individually numbered and tested and at the end a reputable nongovernment auditor such as a major accounting firm would attest a complete inventory of separately numbered ingots. This should be a fairly straightforward task. The failure to conduct the audit is perennially advanced as evidence that the gold does not exist.

Analysis should always be based on the best available evidence and not speculation. I have seen some evidence, gathered from military and Treasury officials, that the gold is where the government says it is. I have seen no evidence whatsoever that it is not. Based on this, I assume the gold is there.

If I learn differently someday, I'll change my view, but until then I'll base my economic and monetary analyses on the fact that the United States is the proud owner of 8,133 metric tons.

But what about the audit? What harm can there be in that if the gold is where the Treasury says it is?

There are two powerful reasons not to do the audit even if the gold is in the vaults. The first has to do with the credibility of gold as a component of international reserves and monetary systems in general.

Gold was officially demonetized by the International Monetary Fund in 1973 not long after President Nixon ended the convertibility of dollars into gold in 1971. Since then gold has been continually disparaged as a monetary asset, most recently in the remarks of Federal Reserve Chairman Ben Bernanke that the possession of gold by the United States was a mere "tradition."

If that were so, why would the United States audit something so unimportant? An audit suggests that gold is somehow meaningful and deserving of respect. The official position is that gold is a legacy asset of no particular importance. In this context, refusing an audit makes sense. An audit would give gold too much credit and start to erode the official propaganda that gold is not a monetary asset. After all, no one audits the number of acorns in the national parks�they are too unimportant.

Another reason has to do with not calling attention to a host of ancillary questions. Assume the audit were conducted and everything was in good order, that the United States had the right number of ingots of 99.99 percent purity and everything was numbered and in its place. This would immediately lead to other questions. Is the gold leased? To whom? On what terms?

Some naively assume that if the gold is leased to commercial banks such as J.P. Morgan that the leasing bank backs up a truck and takes it away. That is not true. The gold can be leased in paper transactions without ever leaving Ft. Knox or West Point. The leased gold can then be rehypothecated by J.P. Morgan to other banks and so on until multiple parties all claim some title to the same physical gold. That gold goes on to support an even larger inverted pyramid of "paper gold" transactions in futures, options, forwards, swaps, and so-called unallocated storage. One reason not to do an audit is to avoid all of the awkward legal title questions that would arise once the physical existence issue was settled. The Treasury would rather ignore gold than open Pandora's Box.

Gold remains the 8,000 ton gorilla in the room; the thing that is too big to ignore but that no one wants to discuss.

The international monetary system and the role of the dollar are in dire straits even if all of the gold is where it is supposed to be.

It is not necessary to fantasize about phantom gold in order to see that a monetary crisis is imminent.

The Fed and Treasury refusal to audit gold is part of their painstaking effort to deny that gold is still at the heart of the system.

No more elaborate explanation is required.