Of course, this presumes that the US still has physical gold. What happened to the audit of our gold? Could you imagine explaining to Alexander Hamilton how we could become fiscally solvent by establishing a reserve of Bitcoin based on absolutely nothing. That traitor would be ecstatic.
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Nope, it’s an absolute tell, AND puts some explanation behind some of Trump’s economic moves.
Play the game, there’s 2 possible paths, we have the gold, or we don’t.
If we don’t have the gold, they can pretend we do…. but I don’t think anyone believes anything the US Gov says anymore, so I don’t think that’s possible. If we don’t have the gold, the conversation is moot. So why is it being brough up?
If we have the gold, then Trump can re-value the dollar vs. gold like Tricky Dick. Boom, deficit’s not a problem, treasuries are not a problem, interest rates? Not a problem….
I suspect this is a trial balloon, and we have the gold.
I’m glad I know where my gold is. And yes, if Ft. Knox holds either no (unlikely) or some else’s gold (most likely) then what is the point? And before anyone would trust any revaluation, they would demand an audit…and WE ALL KNOW they can’t EVER let that happen.
Which European country requested their gold back a year or so ago, and we refuse to comply? How much of our gold have been tranferred to the NY FED building at 33 whatever street it is? Supposedly the largest store of physical gold in the country.
That was the Germans. And yes, they’ve gotten most of their gold back. And they fully inspected it to make sure it wasn’t gold coated tundsten.
Yes, but look at how much “nothing” can be stored and used as collateral.
Why, I have, right at this very moment, sixty metric tons of “nothing” stored on the head of a pin in my safe.
“They asked me for some collateral and I pulled down my pants.”
— Bob Dylan’s 115th Dream
Better question, ask a guard why they don’t issue them rounds for their M-16’s was one that was floating around after news video interviews with locals in Knox.
That said, re-value the gold we say we have, and instantly eliminate the nearly $38 Trillion in national debt.
Love the idea. It will devalue the dollar even more and the gold price will shoot even higher. In order to cover all dollars in existence (assuming we have the 8000+ tons of gold) the price would need to be north of $30000 per troy ounce.