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Via Drudge: Paul Questions Whether There's Gold at Fort Knox

Just though I'd post if no one has...yet.

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.

Continues at The Hill

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The scary part

is that we will know on certain terms what that dollar bill I worked for is actually worth. Is minimum wage really a 1.50 an hour?

What is a U.S. dollar worth?

It is worth a little over a quarter percent of a Kuwaiti Dinar: .288.

http://finance.yahoo.com/currency-converter/#from=USD;to=KWD...

or 13.06 Mexican Peso's:

http://finance.yahoo.com/currency-converter/#from=USD;to=MXN...

beesting

Is your title correct?

RP wants to know how much gold is there. He's not saying none is there.

You Must Have a Note Signed By Our Treasurer, Rated XX.

Counterfeiting.

You must have a green note, signed by our Treasurer of the United States to see it. Rated XX.

Secretary of the Treasury signs over to the right. You may see it as Double Cross (XX) counterfeiting.

Void where prohibited by law.

See Treasurer of the United States for details.
http://www.UStreas.gov/offices/treasurer/office-history.shtml

Ask Dr Ron Paul, What does this mean?

"It makes no sense," often laments Dr Ron Paul on such matters. 2010.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Yes, Counterfeiting is unlawful !

But when are the American people and the people of the world going to wake up to the fact that we have been forced by coercion to use and accept counterfeit money in exchange for goods, services, and hard labor ? ? ?

So far the potato, grape, and plums that I grow are owned by me, but how long will that last under a socialist type dictator ? ? ?

beesting

Yep. I am impressed with what you write. Treasury Needs Help.

Sheer comedy to have our Treasury of the US website lament about counterfeiting 4x in two short paragraphs. No mention of anyone caught. No mention of gold on their history page.

Shear comedy is not funny to sheep!

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

I am curious as to who is

I am curious as to who is actually responsible for the custody of OUR gold. The American people seem to be willing to accept the idea of "the government", but there is always someone who signs, someone who is responsible. If the gold is not there, and the American people have been led to believe it is, then someone stole it.

Damn Custody Argument.

Secretary of State says=> Treasury of the US says=> US Mint says=>No comment.

Above the ground is he chain of custody. Might as will keep diggin.'

Below the ground is the often cited, seldom read, worthless "Deep Storage Audit" of Custody of "the Schedule" of "Gold & Silver." Weasel words by the ton. Gold netted to ZERO.

"The Great Audit Wreck of Spare Change, 2006"

Audit of Spare Change Schedule... $10M @ $42/troy oz, netted out to ZERO. See table. Reference footnote 2.
http://www.treas.gov/inspector-general/audit-reports/2007/oi...

"But, We Did Audit. Honest. Audited the Schedule, Mr
Twain."

"It came out to ZERO, Mr Twain. Why do you still have questions?"

Regretfully still diggin,

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Damn Good Question. Rosa Gumataotao Rios, US Treasurer.

Rosa Gumataotao Rios, US Treasurer has herself a nice website w/ her portrait. Signs the private green Federal Reserve Notes. Makes it look so official; the guy running the government side of the racket above her, also signs. No Bank signature. One sided contract?

Welcome to the U.S. Treasurer's website.

The Treasurer of the United States advises the Secretary on matters relating to coinage, currency and the production of other instruments by the United States. In addition, the Treasurer serves as a senior advisor and representative of the Treasury on behalf of the Secretary in the areas of community development and public engagement.

http://www.ustreas.gov/offices/treasurer/

Schooling on US Treasury, circa 1776.

From their website counterfeiting paper currency was a big issue. Mentioned 3x in this paragraph alone.

Both before and after the Revolutionary War, the United States recognized the need to safeguard the integrity of its currency and to prevent counterfeiting. Just as today, the new government realized that it needed to stay ahead of counterfeiters by employing technology to design bank notes. At that time, though, private printers produced the notes that were then issued to banks. Benjamin Franklin came up with several simple but ingenious methods to slow down counterfeiters.

Obviously, history has been rewritten... Aforementioned is the modern version. No mention of Gold nor Silver at all.

1812. No comment.

Schooling on US Treasury, circa 1845.

When I was in school, our teachers stated,
"They handle the money. Gold & silver." Times were simpler. They had money. The US Mint did too! They could sit in large vaults all day long, "weighing & counting."

1861.

Counterfeiting continued during the Civil War. At that time, the government took over the printing of currency from private banks and printers to standardize the design of the money, which was quickly dubbed "greenbacks." On July 17, 1861, Congress passed the first federal law authorizing the U.S. Government to issue paper money.

1913. No comment.

1916. No comment.

1921.

Moved under Secretary of Treasury.

1933. No comment.

1965. No comment.

1971. No comment.

1981.

Bureau of Engraving and Printing and U.S. Mint reports for duty here.

Modern US Treasury.

Now what does Ms Rosa Gumataotao Rios, US Treasurer do today? Stated Resources

  • History of the Treasurer's Office... scrubbed clean out of Gold & Silver.
  • U.S. Mint Overview
    Bureau of Engraving & Printing (BEP) Overview
    Introduction to Savings Bonds
  • FAQs about Currency
    FAQs about Coins
    Fact Sheets about Currency & Coins
  • Bureau of Engraving & Printing - For Kids
    U.S. Mint - For Kids
  • "Council on Women & Girls" is presented predominately. Perhaps to keep Ms Rios busy.

Gold & Silver written right out of history.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

I have read

that most of the US gold confiscated in 1933, was sent by the Federal Reserve to Europe to bolster up banking confidence there, in the face of a bank run going on in Europe at the time.

We know that there were at least some gold reserves left in the US up until 1971, because European countries were demanding settlements of payments from the US in gold at $35/oz.
However, it is possible that the US had to buy this gold from some banks somewhere, if there weren't any real gold reserves left.

I think it is entirely possible and plausible that there is no gold reserve in the US at all, and that it's all sitting in a European central bank somewhere, being traded back and forth between banks, as a way to control the gold commodity price.

I Have Also Read.

That after WW II the USA was the only country left that had it's large Manufacturing/Production industry unscathed by wars, and proceeded to exchange goods and products at the international level for Gold for a number of years.

The U.S. Gold reserves ballooned to over 24 thousand metric tonnes for awhile, during this period, only to be depleted during the Vietnam era to about 8,130 some odd tonnes by the time Nixon closed the dollar exchange for Gold in 1971. {Utterly destroying the notion that wars create prosperity }

Another question that Dr. Paul could include in his upcoming bill would be:
Where is the IMF, headquartered in Washington D.C.'s, Gold stored? They claim to hold over 3,000 metric tonnes, last I heard.

beesting

I Followed Along Pretty Good, Till IMF Entered The Room.

Stepped out for fresh air.

IMF: the Fed Fantasy Creature From Jekyll Island Lagoon. Loaning Even the Fed Blind, since creation.

You may browse my postcards this year related to IMF promising everyone other people's money. US Reps are Uncle Ben, the Fed Pitch Man + Helicopter Bailout Hobbyist + Chair Monitor & Timmy G, US Treasury-Fed-IMF Triple Secret-Agent Man + Iris Turbo Tax Abuser + Secretary. They loan promises; you pay.

Zegfeld's Follies were much better entertainment & folks had to pay their own way to see the show.

Last Ziegfeld Folly dies aged 106 BBC News 5/12/10
Doris Eaton Travis, the last surviving dancer... http://www.freerepublic.com/focus/f-chat/2512008/posts

I should send Doris a card. See if she remembers me.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

"to Europe to bolster up banking confidence..."

"US gold confiscated in 1933, was sent by the Federal Reserve to Europe to bolster up banking confidence..."

You might use your own words to continue what I wrote:

"As if there was any such thing. Your Gold goes to bolster Washington? Doesn't stop bank running there. Vacations in Europe; Banks keep running there. Hidden safely to rest in private vaults, for a long Winter nap.

To be continued..."

Big T,

Same facts. It's all in the telling...

Enjoy your writing. Best to ya,

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

what??

Thats crazy, of course there's gold there. "Can we look?"

erm.... uh... umm... no...

May be someone knowledgeable

May be someone knowledgeable of the topic can counter the claims made in an August 25 article:
Grounding the Hype: Audit the Ft. Knox Gold!
http://tinyurl.com/2v4tf4y
[excerpt:]

Paging Dr. Paul! Paging Dr. Paul! The U.S. gold reserves held at Ft. Knox and elsewhere are actually under the control of the U.S. Mint, a bureau of the U.S. Treasury Department, and these gold reserves are ALREADY being audited by the independent accounting firm KPMG. In fact, an annual audit has been ongoing for a number of years, first by inspectors of the U.S. Treasury Department since the 1980s (Treasury inspectors are sworn federal law enforcement personnel) with additional audits by independent accounting firms starting in the 1990s..

THE GOLD IN FORT KNOX IS OWNED LOCK STOCK AND BARREL

BY THE OFFSHORE BANKERS FOR ALL THE PAPER MONEY THEY PRINTED FOR US SINCE 1913...

IT MAY BE THERE BUT I ASSURE YOU WE, "THE UNITED STATES OF AMERICA" GAVE IT TO THEM VIPERS..

How is it OWNED by the banks ??

the 16th amendment was never ratified..Ask Larry Becraft...Here's an email address to use
becraft@hiwaay.net Why not go straight to the top he's kicked the IRS in the jewels a few times.

Just one last kick in the nuts, then a final deathblow

bigmikedude's picture

I hope his legislation when introduced

includes random selections of bars being assayed to. It isn't hard to fake gold bars from the outside.

Finest Selection of Jail Cell Bars in Designer Colors

Yes sir, step right in...

We have the finest selection of colors, materials, weights & measures.

Most popular is our new patented gold plated tungsten...

Will you be staying with us long? ...

[Fade to Black]

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Thank you, Dr. Paul...

Thank you, Dr. Paul...

In case the US were to use

In case the US were to use gold to back the dollar? This raises several questions.

1. The dollar is supposed to be gold or silver. The Constitution says that no state shall make anything but gold and silver a tender in payment of debt. The Constitution also mandates that the Congress COIN money, and regulate its value. How does the Federal Reserve square with this?

2. Who owns the gold? The "government" or the people of the United States? The gold is owned by the people of this nation. One of the duties of our government is to coin that gold and silver into units of guaranteed weight and purity. That is what money is.

3. How did the gold get into Fort Knox? It was stolen from the American people by criminals acting under color of law. Once they had the gold in their possession, they devalued the dollar from $20.67 per ounce to $35 per ounce. This enabled them to print more "dollars", which could no longer be exchanged for gold by the American people.

4. While American citizens were prohibited from owning gold for monetary purposes, foreigners were able to exchange the paper dollars for gold. And how did they get these paper dollars? Primarily from our own politicians in "Foreign Aid" and other giveaways. In 1971, Nixon stopped this practice, completely divorcing the dollar from gold. This opened the flood gates to massive inflation.

5. To combat the inflation, Nixon then imposed Wage and Price Controls - one more fascist measure. This caused shortages as wage and price controls always do.

6. Gerald Ford came up with the creative approach of distributing WIN Buttons (Whip Inflation Now), along with commercials telling the American people that they were to blame for inflation through excessive consumption.

7. As the National Debt has continued to increase into multiple trillions of dollars, our politicians continue to spend money on every conceivable wasteful socialist program they can come up with. Even as they increase taxes, the deficit continues to soar.

8. With the obvious intention of destroying the dollar, the idea that gold might come in useful is an interesting concept. With the entire world using Monopoly Money, how would the gold be reintroduced into our economy? If it were, wouldn't that be an admission that we had all been swindled? Who would go to jail?

9. So how can they even imply that the gold might be needed to save our economy without admitting that THEY had destroyed it? Admitting that the Federal Reserve was an instrument that they created to facilitate the swindling of the American people, and to finance the socializing of our economy.

careful here

When you talk to someone who knows the Constitution, they will slam you on this:
1. The dollar is supposed to be gold or silver.

The Constitution does not say that.

The Constitution says that no state shall make anything but gold and silver a tender in payment of debt.

Now you are on target. Notice it applies to the STATES, not the federal government.

If you want it to apply to the federal government, change the Constitution to say so. And don't start with "but the coinage act says", because a law made by Congress is not the Constitution.

#2 Who Owns the Gold?

I guess the only fair thing to do is turn all the gold in Fort Knox into coins. Then send every citizen thier gold back in the form of gold eagles. Thats a stimulus that would work.

But the fair thing to do will not be chosen...

1. There is no gold in Ft. Knox.
2. "They" wouldn't send our gold back to us anyway, but "they" might sell it to us.
3. This is all just a vicious circle, anyway! We should use the gold to pave our streets (wouldn't that be pretty!), and go back to bartering goods and services.

-
"Stand up for what you believe in. Even if you stand alone."
~ Sophie Magdalena Scholl
"Let it not be said that we did nothing."
~ Ron Paul
"You must be the change you want to see in the world."
~ Mahatma Gandhi

If there is gold stored at

If there is gold stored at Fort Knox the question is, what country or countries own it and what are the US obligations for the gold that we do own? See: http://911research.wtc7.net/wtc/evidence/gold.html.

I have no doubt the dollar will collapse in the near future -- foreign countries will not subsidize the dollar for ever. When that happens precious metals could very well be the world's new reserve currency.

As long as energy trading

As long as energy trading (oil) is denominated in US dollars, the US dollar will stand above most other currencies.

bump

good to see this coverage.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15