US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

[billstew]

US finsec corruption : Fort Knox probably has not held any Gold whatsoever since the Nixon Shock...

The Vietnam conflict and its immediate post war finsec outcomes probably drained it completlely dry.

To even imply that Fort Knox holds any Gold may be foolhardy -- as there has not been an audit since the 1960s.

[sn1p3r]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

any links or proof?

[jpatter666]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

Don't forget to include that the moon landings never happened.

[xela]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

any links or proof?

honestly, this wouldn't surprise me one bit..any other reason to prevent audits?

[kingcopper]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

I saw a video on one of the discover/history channels that documented an audit in the mid 1970s. Maybe I was hallucinating and I'm not going to waste time looking for the tape but I saw what I saw.

[sn1p3r]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

Technically you might be right, this article says it's held at the Fed

http://www.dailypaul.com/node/82193

[ThePythonicCow]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

Technically you might be right, this article says it's held at the Fed

http://www.dailypaul.com/node/82193

I wonder if we're missing something here. This is beginning to feel to me like we gold bugs are potential victims of a giant "three shells and a pea" game.

The central banks, especially those of the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, and United States) would I presume like to perpetuate paper currencies, whether they be dollars, a basket of currencies or special drawing rights.

Unless their fundamental monetary control fails, those who have sought to get more gold (China, Russia, and us gold bugs) risk ending up on the short end of this play, along with the Wall Street investment banks, investors in the likely corrupt GLD and SLV EFT's, the failing western industrial companies, the American regional banks (once commercial real estate blows up), the hedge funds (who got hit hard in late 2008 and may be the buyers in this latest stock market pop, at risk for another blow) and other hapless victims (such as investors in dotcoms and McMansions.)

Perhaps the controversy over the gold in Fort Knox is a shell game. Perhaps it doesn't matter if there's gold in Fort Knox or not. Perhaps what matters is that they won't tell us; as one more element of discrediting the idea of a precious metal basis for the worlds dominant currencies.

The devaluation of one or several of the worlds dominant paper currencies does not insure gold is a winner. Only the collapse of the currently dominant world central banks ensures that. Such a collapse is unlikely in my view and would be part of a catastrophic failure of civilization.

If gold bugs (including perhaps nations such as China or Russia or Saudi Arabia) get too uppity, then they get squashed, as before in 1933.

[cobben]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

"Perhaps it doesn't matter if there's gold in Fort Knox or not. Perhaps what matters is that they won't tell us"

And if there was an "independent" audit, would you believe the results?

What matters is whether folks trust their guvm'nt . . .

[sn1p3r]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

I've said it before and I'll say it again....


INTO THE LIGHT I COMMAND THEE!


they REALLY don't want us to look behind the curtain so we must rip it down.

[bpr]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

The devaluation of one or several of the worlds dominant paper currencies does not insure gold is a winner. Only the collapse of the currently dominant world central banks ensures that. Such a collapse is unlikely in my view and would be part of a catastrophic failure of civilization.

Very good points, all. The endgame for the current currencies may already be in play but if there is a coordinated move to SDRs or some similar fiat-based reserve, the CBs could easily start a new shell game all over.

These guys work behind closed doors when times are good. What will happen when unemployment is over 20% and every state is issuing IOUs?

[Tim9]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

As was pointed out,,,anything is possible. Fort Knox could be empty,,,,,then again,,a few years back,,,,a book was written about World War 2 plundered gold. Peggy and Sterling Seagrave's Gold Warriors: Americas's Secret Recovery of Yamashita's Gold
http://www.rense.com/general49/sece.htm
As I said,,,who knows,,,if the USA actually did get hundreds of tons of plundered gold which Japan had looted from all over Asia,,,,maybe Fort Knox has much more gold than anyone can immagine.

[aaron]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

Maybe they do not allow an audit because they have a lot MORE gold than they are supposed to. The life of a fiat currency is quite predictable, even to a government official. Perhaps they have looked at the same exponential curves on this web site and followed them to their logical conclusions. They may even read history books (god forbid)!

If I were the fed/treasury, I'd want to accumulate gold. When the dollar no longer functions effectively, they can just flip a switch to a gold-backed currency and they can continue in power, and America continues on.

In fact, we like to theorize it is China propping up the gold price over the past year. It could just have easily been the fed/treasury. They have said they want inflation. They have said that gold is an important reserve asset. They say they have all the gold accounted for. Why not just take them at their word?

The real conspiracy is the Fed/Treasury/U.S. government is not as short-term in their thinking as they would lead us to believe. The dollar's decline has been on-going for years and years. They want to cover their collective asses just like we do. When the time comes for a gold-backed currency, we are going to find that the U.S. has thousands of tons more gold they are supposed to.

[jtabeb]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

Maybe they do not allow an audit because they have a lot MORE gold than they are supposed to. The life of a fiat currency is quite predictable, even to a government official. Perhaps they have looked at the same exponential curves on this web site and followed them to their logical conclusions. They may even read history books (god forbid)!

If I were the fed/treasury, I'd want to accumulate gold. When the dollar no longer functions effectively, they can just flip a switch to a gold-backed currency and they can continue in power, and America continues on.

In fact, we like to theorize it is China propping up the gold price over the past year. It could just have easily been the fed/treasury. They have said they want inflation.

The real conspiracy is the Fed/Treasury/U.S. government is not as short-term in their thinking as they would lead us to believe.

I have often thought along these lines as a potential alternate possibility. Great consolidation of these points. (and added some that I had not considered to boot!)


Really a fine and thought provoking post!

Thank you.

[Tim9]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

Yes,,,I tend to agree with both of you Jtabeb and Aaron. While so many are very quick to dismiss the Fed Reserve and the USA Treasury as being so short sighted and incompetent,,,,I also wonder if it's possible that maybe they are a bit sharper than they portend.
Having the worlds reserve currency for over 50 years,,,,and having the ability to print at will,,,then what would stop them from purchasing bullion on the open market and stashing it away. Even if the Golden Lily Legend is untrue, that would not stop them from increasing gold stored at Fort Knox. That scenario actually makes sense to me, as these guys are not stupid,,,,they also studied history.
However,back to the Golden Lily and the looted WWII Axis gold,,,,I tend to think the Legend is true,,,,,I tend to think that the USA actually did get all that gold(suspected to be over 160 tons),,,,and they have kept it secret partially for the same reason DeBeers regulates the supply of diamonds on the open market. Keep it rare !
Have a great day--Tim9

[walenk]

Re: US finsec corruption : Fort Knox probably has not held Gold since the Nixon Shock...

Why would Nixon wait until Fort Knox was bare before getting off the gold standard? Even I never thought nixon was that dumb.