Fort Knox Audit of Gold Reserves

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#1 Fri, Jun 17, 2011 - 10:37am
Elijah Craig 18
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Fort Knox Audit of Gold Reserves

https://www.businessweek.com/magazine/content/11_26/b4234039356718.htm

Can't wait to see if Ron Paul gets his wish for a full, independent audit of U.S. gold reserves. It might take an increase in public pressure for this to become a reality. And while I generally agree with Rep. Paul, his earlier suggestion to use our gold reserves to pay down U.S. debt makes my stomach turn.

If Fort Knox has been guarding tungsten and cobwebs all these years? It will have been the greatest swindle in the history of mankind.

Edited by: Elijah Craig 18 on Nov 8, 2014 - 5:31am
Fri, Jun 17, 2011 - 11:13am
Save_America1st
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Did you see this article w/ Ron Paul video?

This was a good one...from last week, but not many may have seen it yet.

Excerpt: 

Thats right. The Fed owns NO gold. Zero, zip, ziltch.For those of you who did not watch yesterday’s monetary policy hearing in the house of representatives, you most likely missed this bombshell exchange between Federal Reserve lawyer Scott Alvarez and committee chairman Dr. Ron Paul. My jaw literally dropped when I heard the Fed’s general counsel declare that the Federal Reserve owns no gold. After 1934, Alvarez explains that the Fed handed its gold over to the Treasury in exchange for gold certificates. When pressed further, Alvarez noted that the gold certificates do not represent any interest whatsoever in the gold itself. He explained the gold certificate listings on the Fed balance sheet, not as a claim to gold, but at most a claim to dollars from the Treasury. See the quotes here (and watch the videos at the bottom of the post):

https://goldnews.com/2011/06/02/fed-lawyer-alvarez-the-federal-reserve-does-not-own-any-gold-at-all/

Fri, Jun 17, 2011 - 11:16am
Save_America1st
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And this is the updated article link...

Has tons of further analysis, charts, etc.

Recommend both

https://goldnews.com/2011/06/10/the-fed-has-no-gold-part-2-a-deeper-look/

Fri, Jun 17, 2011 - 12:41pm
No1Hunter
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Audit

There was an audit of Fort Knox during an audit of the US Treasury Dept. not to long ago by one of the big accounting firms. However, the auditors were not allowed to go inside. They were only allowed to peek inside when they opened the door for them.

Fri, Jun 17, 2011 - 1:48pm
Elijah Craig 18
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Last public look inside the vault

Here is the last time that members of the public and press were allowed inside the depository in September of 1974. This short clip gives a rare glimpse inside the vaults...

Video unavailable
Before Enlightenment - Chop wood, carry water. After Enlightenment - Chop wood, carry water. ~ Zen Buddhist Proverb
Fri, Jun 17, 2011 - 3:52pm
Dr. Sandi
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Different head of the same beast

It's important to remember that the gold Dr. Paul wants audited belongs to the U.S. Treasury. The Federal Reserve's miserable splatter of gold is a separate animal that is watched by a different head of the hydra.

Fri, Jun 17, 2011 - 4:06pm (Reply to #6)
No1Hunter
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Gold in NY City

Dr. Sandi wrote:

It's important to remember that the gold Dr. Paul wants audited belongs to the U.S. Treasury. The Federal Reserve's miserable splatter of gold is a separate animal that is watched by a different head of the hydra.

Isn't the Fed Reserve gold it in a vault in NY City? I know there use to be more gold in that vault than at Fort Knox as it belong to various countries.

Sat, Jun 18, 2011 - 9:16am (Reply to #7)
caramel
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my understanding is the

my understanding is the $10K-$12.5K target for gold is based on a gold price to balance the US' liabilities.

Now, if correct, and less gold is present, it'll take a higher price to balance.

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