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If the Chinese Raided Ft. Knox, They Would Find Only 1/4 of What We Owe Them!
Confounded Interest ^ | 12/30/2012 | Anthony B. Sanders

Posted on 12/30/2012 11:19:03 AM PST by whitedog57

A great scene in the James Bond film “Goldfinger” is the dawn raid on Ft. Knox where Goldfinger and his Chinese henchmen break into the vaults and attempt to set off a nuclear explosion.

Fast forward to today. Chinese is the larger holder of Federal debt outside of the US ($1.16 trillion), while Japan holds $1.13 trillion. The Federal Reserve, of course, is the largest holder of the Federal debt overall.

Ft. Knox in Kentucky allegedly holds 147,200,000 ounces of gold bullion. At today’s price of $1,655.80 per ounce, a raid on Ft. Knox would yield $243,733,760,000.00 (or 243 billion). Or just about one quarter of the amount we owe China.

Stated differently, the entire gold reserve in Ft. Knox is not quite 25% of the current Federal budget deficit for one year! THAT is how big of a problem government spending has become.

Of course, I don’t recommend that Goldfinger, the Chinese or Japanese raid Ft. Knox. But Washington DC’s complete lack of interest in fixing our spending and entitlement problems will probably tempt them!

Or the Democrats and Harry Reid trying to raise money to spend.

(Excerpt) Read more at confoundedinterest.wordpress.com ...


TOPICS: Business/Economy; Government; Politics
KEYWORDS: blogpimp; deficit; gold; obama
Great. There isn't enough gold in Ft. Knox to reduce the Federal budget deficit by 25% FOR ONE YEAR!!!
1 posted on 12/30/2012 11:19:08 AM PST by whitedog57
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To: whitedog57

That is, of course, assuming that what is claimed to be in there actually is in there and hasn’t been surreptitiously sold off.


2 posted on 12/30/2012 11:23:02 AM PST by Jonty30 (What Islam and secularism have in common is that they are both death cults.)
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To: Jonty30

The GOP needs to get with it, and demand a balance in our balance of trade.

Now.

Buy American.


3 posted on 12/30/2012 11:26:15 AM PST by Cringing Negativism Network
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To: whitedog57

The author is quite optimistic.
There is more gold in the penthouses of New York City than there is in Ft. Knox.

The situation in the Ft. Knox vaults is about the same as the Social Security ‘lockbox’.


4 posted on 12/30/2012 11:26:17 AM PST by LegendHasIt
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To: Jonty30

The Federal Reserve shows “gold receivables” on the same line on their balance sheet as “gold.” When they lease out gold, it is then sold into the open market as a mechanism to help influence the value of gold vs. dollar. It is a closely guarded secret how much has been leased out and is shown as a receivable...


5 posted on 12/30/2012 11:28:07 AM PST by JustTheTruth
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To: whitedog57
"The Federal Reserve,of course, is the largest holder of the Federal debt overall."

Until Bernanke the federal reserve only held very small amounts of the debt. This is not an "of course" situation.

6 posted on 12/30/2012 11:32:03 AM PST by RDasher ("El Nino is climate, La Nina is weather")
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To: All

oddjob is actually suppose to be “korean”


7 posted on 12/30/2012 11:33:12 AM PST by VAFreedom (maybe i should take a nap before work)
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To: whitedog57
(Excerpt) Read more at confoundedinterest.wordpress.com ...

What seems to have caused you to excerpt your own blog?

8 posted on 12/30/2012 11:37:15 AM PST by humblegunner
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To: whitedog57

Super-serial blogpimp! What a record!

http://www.freerepublic.com/tag/by:whitedog57/index?tab=articles


9 posted on 12/30/2012 11:39:39 AM PST by humblegunner
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To: whitedog57

[IMG]http://i957.photobucket.com/albums/ae56/Poppajo8/Celebs/pussy-galore-2.jpg[/IMG]


10 posted on 12/30/2012 11:49:38 AM PST by DFG ("Dumb, Dependent, and Democrat is no way to go through life" - Louie Gohmert (R-TX))
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To: DFG
Pussy Galore
11 posted on 12/30/2012 11:53:50 AM PST by DFG ("Dumb, Dependent, and Democrat is no way to go through life" - Louie Gohmert (R-TX))
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To: Cringing Negativism Network

I will not but any item made by the UAW. The UAW can kiss my butt.


12 posted on 12/30/2012 11:56:41 AM PST by bmwcyle (We have gone over the cliff and we are about to hit the bottom)
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To: whitedog57

“Ft. Knox in Kentucky allegedly holds 147,200,000 ounces of gold bullion.”

Note the salient word: “allegedly”.


13 posted on 12/30/2012 12:02:59 PM PST by ctdonath2 (End of debate. Your move.)
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To: Jonty30
"Ahhhhhh, lemme see if I have this right, sir. Tungsten is not worth what gold's worth?"


14 posted on 12/30/2012 12:22:08 PM PST by carriage_hill (Have A Happy & Healthy New Year!)
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To: VAFreedom
oddjob is actually suppose to be “korean”

He's the personal bodyguard henchman (singular).

Henchmen (plural) are the Chicom technicians placing and arming the nuclear device.

15 posted on 12/30/2012 12:26:51 PM PST by Oztrich Boy (I think, therefore I am what I yam, and that's all I yam - Rene "Popeye" Descartes)
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To: whitedog57

I saw a show on cable about Ft. Knox. They talked to a Wall Street guy who is EXTREMELY suspicious ...

He said that the Treasury releases a monthly report showing the value of all of the gold in the vault.

Since the value fluctuates with the dollar - the value reported should vary month to month.

It doesn’t - the value reported each month is EXACTLY the same ...

Wall Street guy says that something smells BIG TIME !!!


16 posted on 12/30/2012 1:13:03 PM PST by Lmo56 (If ya wanna run with the big dawgs - ya gotta learn to piss in the tall grass ...)
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