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Is there any gold inside Fort Knox, the world's most secure vault?
Times Online (UK) ^ | March 28, 2009 | Chris Ayres

Posted on 03/29/2009 8:03:26 PM PDT by Atlas Sneezed

...

For several prominent investors and at least one senior US congressman it is not the security of the facility in Kentucky that is a cause of concern: it is the matter of how much gold remains stored there - and who owns it.

They are worried that no independent auditors appear to have had access to the reported $137 billion (£96 billion) stockpile of brick-shaped gold bars in Fort Knox since the era of President Eisenhower. After the risky trading activities at supposedly safe institutions such as AIG they want to be reassured that the gold reserves are still the exclusive property of the US and have not been used to fund risky transactions. ...

“It has been several decades since the gold in Fort Knox was independently audited or properly accounted for,” said Ron Paul, the Texas Congressman and former Republican presidential candidate, in an e-mail interview with The Times. “The American people deserve to know the truth.”

Mr Paul has so far attracted 21 co-sponsors for a Bill to conduct an independent audit of the Federal Reserve System - including its claims to Fort Knox gold...

... Many gold investors suspect that the US has periodically attempted to flood the market with Fort Knox gold to keep prices low and the dollar high - perhaps through international swap agreements with other central banks - but facts remain scarce and the US Treasury denies that any such meddling has gone on for at least the past decade. ...

(Excerpt) Read more at timesonline.co.uk ...


TOPICS: Business/Economy; Constitution/Conservatism; News/Current Events; US: Kentucky
KEYWORDS: bahog; fortknox; gold; goldfinger; ronpaul

1 posted on 03/29/2009 8:03:26 PM PDT by Atlas Sneezed
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To: Beelzebubba
A moot point if Bond hadn't stopped Goldfinger.


2 posted on 03/29/2009 8:07:45 PM PDT by buccaneer81 (Bob Taft has soiled the family name for the next century.)
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To: Beelzebubba
Wouldn't surprise me if it was all gone.
3 posted on 03/29/2009 8:08:22 PM PDT by lula ( If con is the opposite of pro, is Congress the opposite of progress?)
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To: Beelzebubba

They did the same thing back in the early Seventies. Some congresscritters complained, they got to go in, and sure enough... there was gold. I saw the film footage myself.


4 posted on 03/29/2009 8:10:56 PM PDT by Norman Bates
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To: Beelzebubba

That shows how pathetic recent events are. Less than $200B worth of gold in Fort Knox? That’s chump change to what they have spent in Monopoly money.


5 posted on 03/29/2009 8:12:50 PM PDT by Blogger (Pray and Prepare)
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To: lula

Could any intelligent people think it is still there?? I don’t think so.


6 posted on 03/29/2009 8:13:55 PM PDT by healy61
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To: Beelzebubba

I figure that the government has been quietly and slowly selling off gold for worthless paper money for a long time.

Frankly, it doesn’t really matter if the government holds gold. If they’re not going to actually USE it like they’re supposed to...


7 posted on 03/29/2009 8:15:24 PM PDT by SandWMan (While you may not be able to legislate morality, you can legislate morally.)
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To: Beelzebubba

$137 Billion? What is that, two weeks of government spending?


8 posted on 03/29/2009 8:16:25 PM PDT by fhayek
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To: Beelzebubba

I have a friend who had the misfortune to get a flat tire on the outer perimeter of Ft. Knox. Said its amazing how quickly one can fix a flat with 2 heavily armed guards breathing down your neck.

There’s gold there. Surely some good ole boy has a couple hundred gallons of good Kentucky ‘shine there as well.


9 posted on 03/29/2009 8:16:43 PM PDT by kimmie7 ("It's time we reduced the federal budget and left the family budget alone." Ronald Reagan)
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To: Beelzebubba

Kinda silly that the article ends with a list of ‘conspiracy theories’ just because some congresscritters(Ron Paul) and citizens are asking for a full and unfettered audit of Fort Knox.


10 posted on 03/29/2009 8:20:58 PM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: All

Is there gold in Ft Knox?

Why don’t you try to get a FOIA and ask... or better yet.. Walk up to it and ask.. I wish you luck...


11 posted on 03/29/2009 8:26:05 PM PDT by Kitanis
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To: Beelzebubba

It’d be a hoot if the vault turned out to be full of only IOUs.


12 posted on 03/29/2009 8:26:50 PM PDT by Minn (Here is a realistic picture of the prophet: ----> ([: {()
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To: Beelzebubba
Is there any gold inside Fort Knox, the world's most secure vault?

Yes and hopefully the Obama administration will not find a way to use it up.

13 posted on 03/29/2009 8:28:20 PM PDT by Dustbunny ("The problem with socialism is that you eventually run out of other people's money." Margaret Thatch)
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To: Kitanis

A neutron culminated beam would tell the tale. Also sort of ruin what was left.


14 posted on 03/29/2009 8:30:35 PM PDT by bvw
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To: fhayek

Actually 8300 tons should be worth about 239 billion dollars. However, when you consider that the price of gold has been supressed by the world’s central banks for the past 30 years, the free market price will shortly rise to several thousand and once the hyper inflation kicks, its anyone’s guess. But more importantly, after the dollar’s collapse, you have to figure that Bambi’s boys, Helicopter Ben and little Timmy will try another fiat currency. This will fail, and they will be forced to go back to the king of currencies, gold. They will have to pay the cops and soldiers in gold and gold backed currency or they will walk, so that gold that doesn’t exist will be very important. In addition, we are holding 7000 tons of Europes gold at 33 Liberty Street in NYC at the NY Fed. Wanna bet that it never makes it back to those ingrates?


15 posted on 03/29/2009 8:30:44 PM PDT by appeal2 (Brilliance is the act of an individual, but great stupidity is reserved for the Government)
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To: penelopesire

What does it matter if the Gold is there or not? It is Chinese owned gold.

Has anyone tried to add up the value of New York City realestate and compare it to what we owe China?


16 posted on 03/29/2009 8:31:29 PM PDT by Fpimentel
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To: buccaneer81

..”I don’t think the miami beach police would take kindly to what you are doing”


17 posted on 03/29/2009 8:32:16 PM PDT by bobby.223
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To: buccaneer81

I never thought of the similarities between the original Goldfinger and George Soros. I can just picture Soros; “...nooo mister Bond, I expect you to die!!”


18 posted on 03/29/2009 8:32:42 PM PDT by Wildbill22
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To: Beelzebubba

Have fun . .. . .

http://www.freerepublic.com/focus/f-chat/2217534/posts


19 posted on 03/29/2009 8:34:37 PM PDT by Jeffrey_D.
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To: Beelzebubba
Found the missing gold.


20 posted on 03/29/2009 8:35:11 PM PDT by SparkyBass
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To: Fpimentel

“What does it matter if the Gold is there or not?”

Seriously? You don’t think it matters just because ‘we owe’ China so much money? I guess with your kind of logic we should not care whether we hold any deeds to property because thanks to Obama,in 6 years we will owe China more money than all of the property in the United States is worth as well...lol.

I see your point, but unless we have already shipped that gold to China..it is still OURS!!

Possession is 9/10’s of the LAW!!


21 posted on 03/29/2009 8:38:05 PM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: SparkyBass

ROTFLOL!!


22 posted on 03/29/2009 8:38:30 PM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: bobby.223

LOL


23 posted on 03/29/2009 8:40:53 PM PDT by Norman Bates
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To: Beelzebubba

Ron Paul is a turd and this is just plain stupid from the showboat.


24 posted on 03/29/2009 8:43:36 PM PDT by packrat35 (You could make a fortune as a politician if you have the moral standards of a convicted pedophile)
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Comment #25 Removed by Moderator

To: Beelzebubba

Not mentioned is “gold leasing” where a large gold owner “leases” their supply to someone else for a set sum to be paid every month. I am not sure what happens in the event of default or if it all just an accounting maneuver.


26 posted on 03/29/2009 8:57:31 PM PDT by ikka (Brother, you asked for it!)
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To: ikka

“They did the same thing back in the early Seventies. Some congresscritters complained, they got to go in, and sure enough...”

They were only permitted, after much stalling by Knox,
to see one carefully vetted and opened vault. They did not ask to look at any other vaults, or have a random check of the entire place. The whole trip was simply a photo-shoot; which was what made me more suspicious than anything else...


27 posted on 03/29/2009 9:06:44 PM PDT by CondorFlight (I)
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To: appeal2
Wanna bet that it never makes it back to those ingrates?

You do remember the golden rule, don't you? He who has the gold, rules.

28 posted on 03/29/2009 9:09:34 PM PDT by fhayek
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To: penelopesire; Fpimentel; CondorFlight; SonOfPyrodex; appeal2
Seriously? You don’t think it matters just because ‘we owe’ China so much money?

The United States have been off the Gold Standard for years and it is only the "good faith and credit" (backed by the goods and services in the United States economy) United States can fiance it debts and foreign investors trust the US government can service this debt.

It is a not so minor actor in the ability of governments to aggrevative inflation and thus steal your money without taxes or the aid of a gun. Just print more fiat currency( paper money without equal fianceial backing )

It doesn't matter if there not one flake of gold at Fort Knox. In the same way it doesn't matter that a bank doesn't have the equal amount of money owed by depositors in stacks and piles of money and coins sitting neatly stacked in big bundles in the vault it "holds" for depositors. It's invested in the community in homes and businesses.

There's not enough gold in Fort Knox to cover a fraction of the National Debt even if it remained.
29 posted on 03/29/2009 10:03:10 PM PDT by RedMonqey
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To: lula

I’ve wondered the same thing since the Silver Certificates went away and got supplanted by the Federal Reserve Note during Nixon’s term.


30 posted on 03/29/2009 10:10:46 PM PDT by Senormechanico
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To: SparkyBass

FUGLY !


31 posted on 03/29/2009 10:14:30 PM PDT by Senormechanico
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To: Fpimentel

I suggested earlier we just trade them New York for our outstanding debt and call it good.. Apparently most of the residents desire to live under Communism anyway.


32 posted on 03/30/2009 3:13:36 AM PDT by Jack Black
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To: Beelzebubba
They are worried that no independent auditors appear to have had access to the reported $137 billion

I saw a TV show on that last audit of Fort Knox, and the only time a TV crew had been allowed on premises.

As I recall, the amount of gold transferred there after the government confiscation of private gold, was 6 billion dollars. If there's supposed to be $137 billion there, that's absolutely nothing, compared to the annual budget of the USA. There might as well be nothing stored there, when you consider that the annual deficit dwarfs that amount.

Mark

33 posted on 03/30/2009 3:42:53 AM PDT by MarkL (Do I really look like a guy with a plan?)
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To: Blogger
"That’s chump change to what they have spent in Monopoly money."

Which is the whole point.

Meanwhile, I don't hear any politicians offering thanks to Maynard Keynes.

34 posted on 03/30/2009 5:37:48 AM PDT by Designer (We are SO scrood!)
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To: RedMonqey

“There’s not enough gold in Fort Knox to cover a fraction of the National Debt even if it remained.”

No doubt, but there should still be a full accounting of it all.


35 posted on 03/30/2009 6:23:06 AM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: penelopesire
"...there should still be a full accounting of it all."

--meaning that the accounting that my taxes have already paid for is not "full" enough to suit you and Ron Paul. 

My guess is that y'all will never be satisfied no matter how many accountants and photographers my taxes could cover.  I vote no.

36 posted on 03/30/2009 7:09:32 AM PDT by expat_panama
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To: buccaneer81

I thought it was all radioactively contaminated when some evil genius set off a dirty nuke in the vault so he could corner the gold market...


37 posted on 03/30/2009 7:10:28 AM PDT by MrB (irreconcilable: One of two or more conflicting ideas or beliefs that cannot be brought into harmony.)
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To: expat_panama

For the record, I don’t have a clue about what Ron Paul has said on the issue other than what I just read in this article. I have never really even thought much about the gold in Fort Knox until now...lol. Just an opinion on the merits of a full accounting of what is there.

For all we know, William Jefferson is hiding some of it in his freezer as we speak...lol!


38 posted on 03/30/2009 7:16:41 AM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: penelopesire
William Jefferson is hiding some of it in his freezer...

[-laughs and winces at the same time-] 

Come to think of it, there's an audit I'd be willing to fund...

39 posted on 03/30/2009 8:07:36 AM PDT by expat_panama
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To: penelopesire

I have no problem with that....


40 posted on 03/31/2009 8:14:05 AM PDT by RedMonqey
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