Question: IS THERE STILL GOLD IN FORT KNOX
 

10/06/11 3:25 PM

This should be an easy question you would think, but it isn't as there has NOT been an Audit of the Bullion Reserves of the United States in more than 35 years...!!!!

The Gold is owned by the American People and yet no officials have seen it since Ronald Reagan and even then he just had a look in at one or two rooms..

Naturally there should never be disclosure of the Vaults Security Measures, but it does make me ponder why there has been no accounting for Americas Gold Reserves if we do have any now in such a long time..!!!

What do you think, is it time to have an Audit and start demanding that there is one..????

 

10/08/11 4:45 AM

Maybe America really is broke and nobody's bothered to tell the people... I'm serious here. I'm thinking the world is headed towards Depression and the powers that be are frightened to say the word...

 

10/09/11 4:10 AM

trevoreriksmoen posted:
This should be an easy question you would think, but it isn't as there has NOT been an Audit of the Bullion Reserves of the United States in more than 35 years...!!!!

The Gold is owned by the American People and yet no officials have seen it since Ronald Reagan and even then he just had a look in at one or two rooms..

Naturally there should never be disclosure of the Vaults Security Measures, but it does make me ponder why there has been no accounting for Americas Gold Reserves if we do have any now in such a long time..!!!

What do you think, is it time to have an Audit and start demanding that there is one..????

Interesting question. Well, my understanding of the issue is that unless the world's economy stops growing entirely, we can't rely on a gold-based commodity backing of money because we've mined most of the gold already. There simply wouldn't be enough gold to cover all of the world's economic activity. Also, gold has industrial applications such as computers and electronics and medicine now that decrease the amount of inflow to any potential reserves - and those are unrecycled back into the economy.

Are you presenting this as a curiosity, or as a solution to economic troubles? If it's the latter, the question might be more along the lines of "Do you think America still has enough gold in Fort Knox to 'bank' on being the economic leader if all currency systems fail except gold OR if another country brings its chips to the table and demands we pin our currency to theirs?"

Either way, at its most basic level, a government is simply the sustained monopolization of physical force, and I'm not sure we need to conjure up more visceral hostility toward America by way of the Scrooge McDuck image of the President taking baths in a lake of gold by visiting Fort Knox every week just to make sure it's all still there.

Finally, there is the issue of trust. It was placed in a trust when we sent it there in 1933. If you don't trust that it's still there, you have no reason to trust an auditor unless the facility were made open to the public. When gold is devalued, that will happen, and not before.

 

10/09/11 7:05 PM

falkor posted:
Finally, there is the issue of trust. It was placed in a trust when we sent it there in 1933. If you don't trust that it's still there, you have no reason to trust an auditor unless the facility were made open to the public. When gold is devalued, that will happen, and not before.

^ This.

If Obama sent an auditor there tomorrow, would his detractors believe the results?

It makes me wonder if the the right is doing this deliberately, and is therefore somewhat clever, or their collective memory is really just that deficient.

 
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