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<p>[QUOTE=&quot;fatima, post: 1264236, member: 22143&quot;]I didn&#039;t look at the video.&nbsp; FDR took the physical gold obtained from the 1933 gold seisure, had Ft. Knox built, and this is where the gold went.&nbsp;&nbsp; He then sold this gold to the Federal Reserve which received gold certificates represented by the physical gold.&nbsp; &nbsp; The gold was used to balance out trade with other countries that redemmed their excess Federal Reserve $s.&nbsp; Nixon ended that in 1971 because the Ft. Knox supply was quickly running out.&nbsp;&nbsp; Supposidly the gold bars in Ft. Knox are rather unique because they are mostly coin gold (90%) instead of pure gold.&nbsp;&nbsp; There is supposed to also be a horde of gold coins from the time that were not melted down.&nbsp;&nbsp; </p><p><br /></p><p>Whether this gold is there or not, I have no idea, but this is the official story of the US and Federal Reserve.&nbsp;&nbsp; At the time, they were issued, the certificates were valued at $35/ounce gold. It was repriced in the early 70s to $42 where it stands today.&nbsp;&nbsp; (you can see this yourself on the Federal Reserve balance sheet on their website)&nbsp; Of course I didn&#039;t get into this convoluted arrangement because it would have distracted from the topic.&nbsp;&nbsp; The reason it was handled this way is because it let FDR devalue the US dollar by 70% by the stroke of a pen.[/QUOTE]</p><p><br /></p>

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