Prepared to find out if there is or isn't any gold in Ft. Knox. If there isn't. who would be prepared for the decline of the US dollar in drastic amounts. This may result in chaos and anarchy from the many millions of angry people. Are you prepared when they reveal?
If I was in charge of the whole thing I wouldn't let anybody in either. I would rather everyone think it's empty. Then again I'm paranoid about telling people how much gold is in my coin collection lol.
The total value of gold reported to be there is 147 million oz. At today's price of $1653/oz, that's $243 billion. Not much in comparison to: GDP is $14.5 trillion. Cost of government is something like $125 billion per month currently. Not to mention the Fed bank in Manhattan has something like 225 million ounces anyway.
Ft. Knox is so loaded with gold even the Treasury Department doesn't have an accurate count of all of it.
If it were discovered that there wasn't any gold in Fort Knox, nobody would care. There would be no bank runs or holidays. The FDIC changed all that long ago. Face it, I doubt you can redeem your gold certificates for anything but Federal Reserve Notes, anyway. The most would happen, is the Media would have a few good days speculating about what happened to it. There would be an outcry for the Fed to conduct an investigation, etc. But in reality, just another crummy day to listen to the talking heads. There's more gold in th ground north of Nellis AFB in Nevada than ever was in Fort Knox. One mine was reported taking 1,000,000 a week when gold was around 1500. That's just ONE mine and there are a lot of mines ! Really, after Brad Metzer did the piece on Fort Knox on the Discovery Channel, I think most people believe Fort Knox to be empty anyway. Come on, it's not a secret location. If there is gold there, we would have seen it before now. It would have been shown to help re-establish faith in the economy at some point during the last few years. Nope, can't show it, because they likely don't have it. IMHO gary
I would be more interested in knowing more about the gold in the Fed Bank in New York. It has 75 million more ounces than what is reported in Fort Knox. Aren't they a holding bank for many foriegn governments? I remember seeing a documentary about it on TV. It was more impressive to see their security measures, and storage, than Fort Knox in its best day. Fort Knox is living off its history and past glory. Its more of a monument to our country's heritage than our country's wealth.
The question as to whether or not the gold is in Fort Knox is impossible to answer. Those who think it is gone are not going to be satisfied by anything less than a personal inspection. Even then they will say that the gold was brought in for the inspection and then removed again once they left. So they can't be convinced. Those who believe it is there do not need to have it proved to them.
It's there all right. It's just highly discretionary for the treasury Dept. not to flaunt it. Believe me the gold that is is in Ft. Knox weighs so much the Queen Elizabeth II couldn't handle it all.
Hmmm. Thats not what I got. According to the video, the sign on the door said that each "room" held 36,236 bars for a total of 11,837,925 oz. A total of 28 such rooms came to 331,461,905 total oz. At today's $1,600/ox market value, I came up with $530,339,048,019. (530 Billion) As for Manhatten, doesn't "that gold" belong to other countries?
I have a really cool job. I get to spend your tax dollars, and better yet, I don't even work for the government. I work for an ORG that is responsible for utilizing and maintaining a publicly held state recreational facility. When I do spend your money, I am required to submit at least three competing bids and every year, I have accountants showing up asking to count certain high priced widgets that I may have bought years ago. They want to know how we use them, what their current condition is, what their life expectancy is, and what their replacement cost is. Getting back on track, should we expect less from the Department of Treasury? As far as the gold in Fort Knox no longer backing the money supply, yes it's true. We operate a Faith Based Monetary System. I have faith that the $20.00 in my pocket will buy X number of cans of Beanie Weenies, tomorrow, next week, and hopefully next month. So what happens when people lose faith? It's called a run on the dollar, just like what happened at the tail end of the Carter Administration. What they did at the time was to tap into the Treasury's foreign currency reserves and buy dollars quicker than people were dumping them. As a last ditch effort, the same can be done with the gold, oil, and other natural reserves. It helps keep the faith.
