Skip to comments.If the Chinese Raided Ft. Knox, They Would Find Only 1/4 of What We Owe Them!
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 todays 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 dont recommend that Goldfinger, the Chinese or Japanese raid Ft. Knox. But Washington DCs 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 ...
That is, of course, assuming that what is claimed to be in there actually is in there and hasn’t been surreptitiously sold off.
The GOP needs to get with it, and demand a balance in our balance of trade.
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’.
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...
Until Bernanke the federal reserve only held very small amounts of the debt. This is not an "of course" situation.
oddjob is actually suppose to be “korean”
What seems to have caused you to excerpt your own blog?
Super-serial blogpimp! What a record!
I will not but any item made by the UAW. The UAW can kiss my butt.
“Ft. Knox in Kentucky allegedly holds 147,200,000 ounces of gold bullion.”
Note the salient word: “allegedly”.
He's the personal bodyguard henchman (singular).
Henchmen (plural) are the Chicom technicians placing and arming the nuclear device.
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 !!!