Experts: America's gold is gone

WND and King World News ^ | 18 Jul 14 | Mark Leibovit

[SkyPilot]

Paul Craig Roberts: The entire U.S. gold hoard is now gone

Former U.S. Treasury official Dr. Paul Craig Roberts told King World News the entire United States gold hoard, including gold supposedly held at the Fed for other countries, is now gone. This is very bad news for Germany and other countries which have trusted the Fed to safely store their gold. Excerpts from the interview:

Eric King: Dr. Roberts, I know you’ve seen the report on Bloomberg about Germany supposedly being happy with storing their gold at the New York Fed. It seemed to be a propaganda piece. What was your take when you saw that?

Paul Craig Roberts: Clearly what that means is that the United States doesn’t have the gold and cannot deliver it – and has forced Germany to come to terms with that, and to stop asking for it since it can’t be delivered … And so they [the U.S.] have told their puppet state [Germany] to shut up and come up with a different statement that they are content to leave [their gold] with the Fed. Perhaps they had to bribe them or give them other advantage. But, essentially, they have stopped any German agitation for the return of their gold because it can’t be returned.

King: What are the implications of that for other countries that have gold stored at the Fed? Because it’s outrageous they are not returning Germany’s gold.

Roberts: The implications are nobody will get it back. People in the gold market have suspected that the Fed used up all of the U.S. gold trying to suppress the price of gold over the years. And then after they ran out of U.S. gold, they started using all the gold left with the Federal Reserve on trust.

[GOPJ]

Didn’t we sell off the German gold too?

[Biggirl]

You got it!

[FreedomPoster]

Let’s see the audit report from Fort Knox.

They said the same thing in the wake of the Nixon Presidency - King Richard has stolen all the gold! It was there. I helped move it in support of the audit in ‘77, and knew others who did the same in ‘76, ‘78 and ‘79.

[Diana in Wisconsin]

Sadly, my boat, my gold, my guns and my ammo are all at the bottom of the lake...it was an accident, I swear!

(And I DO and I WILL continue to trust in God.)

[servantboy777]

>>Obama will most likely make ownership of gold and weapons illegal in the same Executive Order.<<

I hate to laugh, but what comes to mind is:
Powder
Keg
Spark

[UnbelievingScumOnTheOtherSide]

>I contend that Gold has very little economic value.

I agree. Even if we still have 100 million ounces, it would only be worth $130 billion, which is nothing in the economy. Gold became useless as a medium of exchange with fractional reserve banking which creates private fiat currency whose volume and value cannot be controlled by a single commodity, which was demonstrated by the bank failures of the Depression.

>Our Dollars value is based on OIL or energy production.

Our dollars are backed by plutonium warheads without which they would not buy oil or anything else.

[UnbelievingScumOnTheOtherSide]

Gold-plated tungsten.

[mcshot]

And they tripled security so no one would ever know. I think at best we have gold colored bars of tungsten.

[Triple]

” If what he says was true, the price of gold would skyrocket to $3000 almost immediately and it would keep going up.” -K5

I disagree, a bit. If the physical gold custody was fraudulent, there would be a huge difference in price between physical/tangible gold and paper/trust gold.

AFAIK - There is no real difference right now.

The paper/trust gold price would drop compared to the physical gold market (which may or may not rise in price.)

[Triple]

The may be in Ft Knox - but how many parties own the same bar? (or lay claim to it?)

That is the question. ad just a few people could pull that off.

Just look at Jon Corzine and MF Global. The money (value) flowed out of there in to democrat re-election coffers. Customer accounts that were supposed to be backed with commodities and cash balances were actually worthless.

Don’t confuse a lock on the front door with security. All it takes is a sharp pencil to steal. (take social security for another example)

[Political Junkie Too]

The solution to the national debt is going to be appropriating the IRA’s and 401K plans of the population and rolling the money into the Social Security system.

Here's the rub.

For many people, this will have zero impact because they earn so little that they don't pay taxes now. They likely don't have 401k's or IRA's.

So next you will have the super-rich, like the Trumps, Limbaughs, Soros and Kochs. Do they have their wealth in 401k's and IRA's? Probably not. There's is probably in other assets. Does that mean that they won't have their retirement funds confiscated?

Next we have the political class. Not quite super-rich, but still multi-millionaires. How will they protect their own money while still confiscating the savings of everyone else?

And then there are the institutional investors, people who have their 401K's in company stocks. How will those be seized and swapped for treasury bonds? Will this type of seizure really be a back-door nationalization of the companies whose stocks were just seized?

Does the government become the stockholder of these stolen shares, or does the government sell off the stocks at spot sale prices? Who will be the buyers of these stolen stocks? And what does the corporation itself have to say about the sudden garage sale of the stocks that they rely on to finance their businesses?

-PJ

[OneWingedShark]

f the physical gold custody was fraudulent, there would be a huge difference in price between physical/tangible gold and paper/trust gold war.

Fixed.