Ron Paul questions whether there's gold at Fort Knox

[Serpo]

Ron Paul questions whether there's gold at Fort Knox, NY Fed
By Michael O'Brien - 08/30/10 10:21 AM ET

Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold.

Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it's "a possibility" that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank.

The libertarian lawmaker told Kitco News, a website tracking news about precious metals, that an audit was necessary to determine how much the U.S. maintains in gold reserves in case the government were to use gold to back the dollar.

“If there was no question about the gold being there, you think they would be anxious to prove gold is there,” he said.

“Our Federal Reserve admits to nothing, and they should prove all the gold is there. There is a reason to be suspicious and even if you are not suspicious why wouldn’t you have an audit?

“I think it is a possibility," Paul said when asked if there was truth to rumors that there was actually no gold at Ft. Knox or the New York Fed.

Paul had been one of the Republicans to spearhead a broader audit of the Fed as part of the Wall Street reform bill passed through Congress this year. The provision, which was weakened somewhat in the final version, found Paul joining with a number of Democrats to require the Fed to open its books and outline its assets and liabilities.

The gold reserves, which Paul's new bill would audit, are generally seen as a guarantee on a nation's currency, but the U.S. moved the dollar away from being tied to the price of gold in 1972.

Paul stopped short of calling for the reinstitution of the gold standard and instead called for the government to allow the use of hard currency — gold and silver tender — alongside the use of the dollar.

"If people get tired of using the paper standard they can deal in gold or silver,” he said.

http://thehill.com/blogs/blog-briefing-room/news/116341-ron-paul-plans-bill-to-audit-us-gold-reserves

[chad]

i predict nothing will happen, just like with everything ron paul says.

[Serpo]

i predict nothing will happen, just like with everything ron paul says.


Fair enough ,he did mention it though which is more than anyone else

[joe_momma]

I'd almost argue it does not matter how much gold (tungsten) is or is not in the vaults (Ft Knox, West Point, Philadelphia.
- even at 8,400 tons it only amounts to 245,000,000 troy ounces
- call it $300B at current market prices
- there's about $3,000B in FRNs floating around
- the current deficit is about $14,000B
- total unfunded liabilities (SSI, Medicare, debt) works out to be $40,000B

I suppose from a credibility standpoint, finding out the gold was secretly sold over the years would cause more political uproar and a loss of confidence in the Federal Government, but with the inevitable collapse of the entitlement state, IMHO if this were true, it really won't make much difference.

[TheNocturnalEgyptian]

Take all the names out of this, and you realize just how silly our system is.


Representative of the people states in that he believes country's gold stash is missing. Nothing happens.





No remedy! Ridiculous.

[Still Barbaro]

i predict nothing will happen, just like with everything ron paul says.


Agreed.

But I'm glad he's still saying these things, and acting upon his beliefs.

[Silver Shield]

i predict nothing will happen, just like with everything ron paul says.
Asking questions is the best way to lead people to new realities...
Ron's questions will lead to much bigger results when people become more aware...
I am thankful for anyone who raises awareness.

"Judge a man by his questions and not his answers."

[learn2swim]

i predict nothing will happen, just like with everything ron paul says.


Ok, I'll bite, what should he do?

[chad]

i predict nothing will happen, just like with everything ron paul says.


Ok, I'll bite, what should he do?


beats me, but he's a useful idiot. he stands around and does his little founding fathers/constitution schtick on cnbc or fox news once a week, and that's about it. he's been there 20+ years and accomplished none of his founding fathers/constitution agenda.

the only conclusion i can draw is that tptb put him there to draw the g-kahn types out to salivate over him and placate a potential problem group of people. "oh look, ron paul is running again! i think we better go to rallies and hand out pocket constitutions!"

everyone at this point knows what is going on, why we have legions of "ron paul is going to save us" idiots is beyond me.

that's what i really think ;)

[Joe King]

i predict nothing will happen, just like with everything ron paul says.


Ok, I'll bite, what should he do?


beats me, but he's a useful idiot. he stands around and does his little founding fathers/constitution schtick on cnbc or fox news once a week, and that's about it. he's been there 20+ years and accomplished none of his founding fathers/constitution agenda.

the only conclusion i can draw is that tptb put him there to draw the g-kahn types out to salivate over him and placate a potential problem group of people. "oh look, ron paul is running again! i think we better go to rallies and hand out pocket constitutions!"

everyone at this point knows what is going on, why we have legions of "ron paul is going to save us" idiots is beyond me.

that's what i really think ;)
I think RP's biggest problem is that he's just about the only one even talking about this kind of stuff. As such, everything he tries to get started is a major uphill battle.

You can't really expect to win alot of those.
Especially not by yourself.

[madfranks]

beats me, but he's a useful idiot. he stands around and does his little founding fathers/constitution schtick on cnbc or fox news once a week, and that's about it. he's been there 20+ years and accomplished none of his founding fathers/constitution agenda.


I disagree; if it wasn't for Ron Paul, we might not have Gold American Eagle and Silver American Eagle bullion at all. It was Ron Paul who recommended we start producing gold and silver coins again in the Gold Commission report presented to President Regan. There were plenty of parties in the gov't who did not want gold or silver to be available to the public anymore. The "problems" of public ownership of gold and silver were already taken care of in 1933 and 1965, why go back? It took some fighting and some time, but in 1985 Congress passed the Gold Bullion Act which is why we have modern gold and silver coins. I think Ron Paul deserves some credit for this.

[philo beddoe]

I'd almost argue it does not matter how much gold (tungsten) is or is not in the vaults (Ft Knox, West Point, Philadelphia.
- even at 8,400 tons it only amounts to 245,000,000 troy ounces
- call it $300B at current market prices
- there's about $3,000B in FRNs floating around
- the current deficit is about $14,000B
- total unfunded liabilities (SSI, Medicare, debt) works out to be $40,000B

I suppose from a credibility standpoint, finding out the gold was secretly sold over the years would cause more political uproar and a loss of confidence in the Federal Government, but with the inevitable collapse of the entitlement state, IMHO if this were true, it really won't make much difference.
That means as a bare minimum gold is worth 13K an oz.

[MAGNES]

the only conclusion i can draw is that tptb put him there to draw the g-kahn types out to salivate over him


I think you are wrong about RP , especially about your time line, decades, first of all most
never even heard of RP until the last few years and only on the internet, his movement
was real, and out of nowhere almost, right point in history with FED messing up, etc,
they screwed him big time, he ain't mad enough and mean enough and tough enough,
I was introduced to RP on the antiwar forums even before 9/11, I was learning about the
NeoCons and war on Serbia on there, if it wasn't for these last few year on the internet
nobody would know anything, TPTB I don't believe understand that many get it.

LOL SS, are you saying RP is Socrates, hey, my explanation above highlighted is Socrates too, lol .
They ignore him and maybe will kill him, but like Socrates they will never kill the ideas, never.
A Plato is around the corner to write his story, and the destruction of the USA and West,
and how it all happened that way because of how they treated RP. Laugh at me, but these
stories I know, and the parallels are frightening similar. Plato concerns himself with the moral
state, freedom, justice, how to make it last, etc, Athens destroys itself run by degenerates,
doing injustice to truth tellers, if only they listened.

SS, do you know who the Silver Shields are ? lol Nice old avatar, that's a hint.

This is relevant to what we are doing here. More so for you and the "apple seed" program,
if I am using the right term.



Asking questions is the best way to lead people to new realities...


Don't forget it is a good way to piss people off too, especially if they know the answers
and don't want to say, lol . Socrates main thing was asking questions, he believed people
knew the answers, had them within themselves, needed the right questions, etc,

Why does all this matter, Socrates ? Like I said above the parallels are striking.
These related writers are also the foundation of the West and even Christianity, beliefs.

We have a degenerate in office that may attack Iran or be lead that way,
end of Empire. lol Syracuse sent a request for help, the Spartans sent
ONE MAN, that was the end of degenerate run Athenian Empire.
ZOG knows classical history and from what I see uses it as a blueprint,
how to build , how to destroy. Thucydides covers most of this, required
reading at US War College, how to fuck with peoples countries, etc,

[Serpo]

I'd almost argue it does not matter how much gold (tungsten) is or is not in the vaults (Ft Knox, West Point, Philadelphia.
- even at 8,400 tons it only amounts to 245,000,000 troy ounces
- call it $300B at current market prices
- there's about $3,000B in FRNs floating around
- the current deficit is about $14,000B
- total unfunded liabilities (SSI, Medicare, debt) works out to be $40,000B

I suppose from a credibility standpoint, finding out the gold was secretly sold over the years would cause more political uproar and a loss of confidence in the Federal Government, but with the inevitable collapse of the entitlement state, IMHO if this were true, it really won't make much difference.


See what you mean

Kind of turns it into Fort Knox Very Important.....

[Serpo]

I'd almost argue it does not matter how much gold (tungsten) is or is not in the vaults (Ft Knox, West Point, Philadelphia.
- even at 8,400 tons it only amounts to 245,000,000 troy ounces
- call it $300B at current market prices
- there's about $3,000B in FRNs floating around
- the current deficit is about $14,000B
- total unfunded liabilities (SSI, Medicare, debt) works out to be $40,000B

I suppose from a credibility standpoint, finding out the gold was secretly sold over the years would cause more political uproar and a loss of confidence in the Federal Government, but with the inevitable collapse of the entitlement state, IMHO if this were true, it really won't make much difference.
That means as a bare minimum gold is worth 13K an oz.


Fraid so.........hahahah

[Buster]

beats me, but he's a useful idiot. he stands around and does his little founding fathers/constitution schtick on cnbc or fox news once a week, and that's about it. he's been there 20+ years and accomplished none of his founding fathers/constitution agenda.


I disagree; if it wasn't for Ron Paul, we might not have Gold American Eagle and Silver American Eagle bullion at all. It was Ron Paul who recommended we start producing gold and silver coins again in the Gold Commission report presented to President Regan. There were plenty of parties in the gov't who did not want gold or silver to be available to the public anymore. The "problems" of public ownership of gold and silver were already taken care of in 1933 and 1965, why go back? It took some fighting and some time, but in 1985 Congress passed the Gold Bullion Act which is why we have modern gold and silver coins. I think Ron Paul deserves some credit for this.


Yes and I believe that he is involved in a movement to get The US Mint to coin palladium. too.

Furthermore, he regularly returns excess funds allotted him to run his congressional office.

I wish we had more like him.

[chad]

holy shit, ron paul is behind getting palladium coins minted?

i take back everything i said about him, the republic is saved.

[1970 silver art]

Nope. There is no gold in Fort Knox. There is just a bunch of overpriced Tungsten bars stored there. There is really nothing to see in Fort Knox.

[JDRock]

all the gold in fort knox has been, long ago,.....transferred to ; FORT LOX
:soap

[philo beddoe]

beats me, but he's a useful idiot. he stands around and does his little founding fathers/constitution schtick on cnbc or fox news once a week, and that's about it. he's been there 20+ years and accomplished none of his founding fathers/constitution agenda.


I disagree; if it wasn't for Ron Paul, we might not have Gold American Eagle and Silver American Eagle bullion at all. It was Ron Paul who recommended we start producing gold and silver coins again in the Gold Commission report presented to President Regan. There were plenty of parties in the gov't who did not want gold or silver to be available to the public anymore. The "problems" of public ownership of gold and silver were already taken care of in 1933 and 1965, why go back? It took some fighting and some time, but in 1985 Congress passed the Gold Bullion Act which is why we have modern gold and silver coins. I think Ron Paul deserves some credit for this.
Maybe you should do some research mad. Gerald Ford approved private ownership of gold. South Africa was on its way to producing the number one defacto currency in the world. Strategic move by Reagan to cut out the South Africans, nothing more, nothing less.

[Joe King]

Speaking of gold in a vault, how do they keep the bars on the bottom from deforming when stacking them as shown in this pic from the NY FED?

Yea, I know. It's probably all tungston, but assuming it is gold, how do they not get squished?
In most of the pics I've seen of gold bar stacks, they're stacked on multiple shelfs with about 4-6 bars per stack as in the second pic.
Is gold just not as soft as I thought it was?


http://img409.imageshack.us/img409/7357/feddgoldvault.jpg
http://img829.imageshack.us/img829/5241/goldvaultimage002.jpg

[Serpo]

Speaking of gold in a vault, how do they keep the bars on the bottom from deforming when stacking them as shown in this pic from the NY FED?

Yea, I know. It's probably all tungston, but assuming it is gold, how do they not get squished?
In most of the pics I've seen of gold bar stacks, they're stacked on multiple shelfs with about 4-6 bars per stack as in the second pic.
Is gold just not as soft as I thought it was?


http://img440.imageshack.us/img440/303/gold01.jpg
http://img829.imageshack.us/img829/5241/goldvaultimage002.jpg


This is how I would like my basement to look like........if I had a basement that is....hehehehe

[FunnyMoney]

There's been no audit there for over 4 decades. Put 2 and 2 together and you soon figure out the truth.

It is obvious to anyone with half a brain that no gold exists in ft knox. The problem is going to be finding enough people with at least half a brain.