POLL: The US Govt should SELL GOLD to pay down the debt/ save the Dollar/ etc.

In the build-up to currency war, Gold is already recognized as an "alternative monetary asset" in Basel III.
In 2010, the People’s Bank of China first called on the US to sell some of its 8,133.5 tonnes in Gold reserves. American Paper-Bugs have long agreed: SELL THE GOLD!

In May 2011, during the last debt umbroglio, Ass. Sec of the Treasury Mary J Miller dismissed that idea:

http://www.treasury.gov/connect/blo...ot-Avoid-Need-for-Increase-in-Debt-Limit.aspx

In 2013, the 'emergency idea' of a $1 Trillion Platinum Coin resurrected calls to tap the reserves. Should the Fed/Treasury sell gold to defend the dollar?

 

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No they shouldn't. When the dollar collapses it will be all they've got left!

 

the us has no gold reserves

 

they claim to have them, do you believe they have sold them in secret?

 

I donno I have heard ron paul talking to some government guy and the guy said the us hasnt has a gold reserve since 1930's.

but then again I have also heard that the us has gold but its not they're gold.

no idea, im not american

 

The U.S. does have gold reserves unless they are lying about it.

8,133.5 tonnes of gold as earlier indicated by Juan

http://en.wikipedia.org/wiki/Gold_reserve

 

They haven't audited the gold in Ft. Knox since 1974, roughly 40 years after it's inception, and roughly 40 years ago. I'd say they are due. People saying the gold isn't there are simply speculating because there hasn't been an audit lately. It could be there. The speculating stems from all the gold leasing used to artificially inflate the supply I believe, since the USG has seemingly the most motivation for price suppression to maintain world reserve currency status for the USD. But I have not seen anything concrete to support this line of thinking. If gold is remonetized you can probably bet we'll seen an audit! Could there be tungsten? Who knows. It's possible.

 

Nay!

 

I have heard the gold at fort knox has been sold off over the years(seen a video on it on youtube)

and I know for a fact there is gold under new york, but when you go visit there to see the gold they told me that it was not the US's gold, but other country's gold that the US is holding.

 

It must be true, then.

 

Of course, because everything on the internets be true!

 

well, thats why I said "I heard". I donno for sure.

but I have been to NY and seen the gold but they told me its owned by other countrys.

 

http://www.youtube.com/watch?v=Lu32deAm_n8

the fed says there is no gold reserves

nothing to say now. I win

 

http://www.youtube.com/watch?v=h4vjhxbc9-w

gold at for knox was sold off in 1974 to keep the gold price down.

 

http://www.youtube.com/watch?v=EsP-BJS6pBQ

gold in new york is not owned my the US.

 

I hope all you slaves are believers now, the US has no gold reserves

 

I'm inclined to believe much of the Gold was sold (swapped away) in various accounting fictions.
But I don't know this. What does Dr. Ron Paul think?

I DID hear an NPR program (Diane Rehm?) a few years ago where a Treasury honcho dodged the question but implied the Gold wasn't all there. He could have answered directly; he didn't.

When they refuse to, whine about the cost of an audit, security (?!) etc. ... it only looks worse.

If an audit revealed that only 25% of the US Gold Reserves remain (unencumbered) would that cause a global mkt panic? Maybe. The Dutch also store 50% of theirs in NYC (supposedly) ; the Germans' concern has been well-publicized: http://www.dw.de/tracking-down-germanys-gold/a-16383224

 

Sell the gold (if any)? For what? More fiat money, which will be worthless PAPER when hyperinflation comes??? Do you trust the government to protect your PAPER?

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But, hey, if you think YOU have problems, what's this poor druglord going to do when the dollar tanks? Yeah, that's all $100 bills except a few pesos in front (pizza money).

 

sorry but you lose.:foot-mouth:

He said the treasury owns the gold, not the Fed.

 

wow you actauly think the treasury has the feds gold? wow go do your homework the treasury sold off the gold in 1974, but the fed still has the paper.