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Ron Paul on Selling the Gold in Fort Knox

It's been a while since I posted here and I'm glad to see things are revving up to take the message of Liberty to the next level.

I came across a few articles earlier today saying that Ron Paul advocates selling off the gold in Fort Knox to pay down some of the debt. The Max Keiser response is just max Keiser ranting with his brain-mouth filter tuned down so I really think that in and of itself is of no consequence.

There are a few pertinent points I think need to me made about how selling the gold in Fort Knox completely jives with his libertarian/constitutional views on money.

The first: The constitution states that the congress is the only governmental authority allowed to issue money, and they can only do so in the form of gold and silver coins. These coins are meant to be in circulation, in the hands of the people, not confiscated and sitting in a vault underground as they have been since 1933's joint house resolution to repossess gold from the people and de facto remove the gold standard from the dollar.

Ron Paul's idea to return the gold to the people in exchange for FRN's is a good one, and puts the money back in circulation and in the hands of the people, providing a sizeable alternative to the current currency.

But there is something else going on here that I'm surprised nobody mentioned. While Dr. Paul is rock solid in his ideologies I think he's more clever when it comes to playing things out than he sometimes lets on.

We all know he has been attempting to get an audit of the gold in fort knox passed for a long time now - this has been an ongoing issue with him for as long as I can remember. Encouraging the gold sales might just be what it takes to get this accomplished.

In order to sell the gold, they will first have to figure out how much they have and what they are going to make at market prices. This is the audit he has been looking for - perhaps he's just looking to get this accomplished so the American people can find out if it has just been gathering dust down there since Eisenhower, or if a whole chunk of it has been leased away while still sitting on the books of the government.

I think this is more of a clever attempt by Ron to see if the emperor still has his underwear on, let alone his clothes....



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Oh come on, we all know fort

Oh come on, we all know fort Knox is just the transfer area to the Anunnaki who genetically engineered humans 100,000 or more years ago to mine gold for them.

Wake up! There is no gold, our masters have been coming very rapidly lately to collect.

:p

Blah.

"The constitution states that

"The constitution states that the congress is the only governmental authority allowed to issue money, and they can only do so in the form of gold and silver coins."

Nope. The constitution says the congress may define how much gold or silver constitutes a dollar. It also says that the mint can make gold and silver coins. (You take your gold to the mint, and for a small fee, it trades you gold coins.) The constitution says nothing about "issuing money" except to say the states may not make anything other than gold and silver coin legal tender.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

Serious Candidate?

This will be seen as another "wacko" position by Ron Paul.
Is he trying to win the nomination or trying to shock the average voter? What next?
If he's trying to be a serious candidate, this won't do it.

do you now understand what

do you now understand what Ron Paul was trying to do?

I think the constitution says...

...that the states can only issue legal tender in gold or silver. It doesn't require Congress (the federal government) to adhere to that standard. I may have misunderstood that section, but I think that was reserved for states only.

The Fed May No Longer Have Any Physical Gold !

I have been researching for about 2 hours here and other places:

http://www.federalreserve.gov/releases/h41/Current/

For many years the Gold held in Ft.Knox, West Point mint, and other federal mints was listed at over 261 million ounces, and valued at $42.2222 per ounce.

If you scroll way down towards the bottom of the page that comes up when you click on the above URL, you can see a listing of,"Gold Certificate Account", of 11,037 {Billion omit-ed } If 11,037 is divided by 42.2222, you get 261,,402,769 plus, which is approximately the amount of "physical" Gold in ounces, claimed to be held in the Fed/Treasuries vaults.

Now, I looked up Gold certificate:

http://en.wikipedia.org/wiki/Gold_certificate

And lo an behold a Gold certificate is simply a paper that is supposed to "represent" physical Gold.

Ron Paul is forcing the Fed to disclose the Fed's physical Gold holdings !

beesting

The way double entry

The way double entry accounting works, there are offsetting "assets" and "liabilities." Presumably the gold ("gold stock") that the Treasury gave to the Fed for safe-keeping is a liability of the Fed, and the receipt or certificate for it is an asset. Seems backwards to me, but I think that is how it is written down.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

your points do make some

your points do make some sense, but selling our gold is the last thing they need to do.

Funny, I don't recall much mention in the media when...

Clinton, at the recommendation of Vice President Al Gore, sold the Elk Hills Petroleum Reserve to Occidental Petroleum when oil was $10 a barrel. By the way, the Gore family has a big financial interest in Occidental Petroleum.

Definalty need some

Definalty need some clarification of the thinking behind the statement.

I like the ideas that it is to force the Fed to allow the Frt Knox audit, and perhaps cause outrage if the gold is not there.

I like the idea of returning the gold to the people when FDR stole it from us.

I like the idea that it reveals the depth of the debt problem and makes people think.

For one thing, it sure does have a lot of people thinking about gold and money at the same time, that is a good thing.

Still though, need some of the thinking behind the statement. Don't let th media run around like chikens as we all know they will do.

Hmmm...

I agree that RP is pretty sharp, but sometimes, like this time, I am baffled by his tactics. Was he specific regarding who to sell our gold to? If he meant sell some to the mint so that gold eagles could be minted, that's one thing. Surely he knows our predicament with respect to debt ($14T) versus gold reserves (8,000+ tons @ $1,500/oz. brings about $380B), and he must have known that this kind of talk would cause people, who otherwise have deep respect for him, to wonder if he's lost his mind.

RP's Reason, Likely

See Bob-45's comment below yours.

School's fine. Just don't let it get in the way of thinking. -Me

Study nature, not books. -Walton Forest Dutton, MD, in his 1916 book whose subject is origin (therefore what all healing methods involve and count on), simple and powerful.

Great idea!

1. This will force an audit of US gold reserves and
determine how much is still owned by the US and
how much has been sold to foreign interests by
the Federal Reserve.

2. This will validate that the gold is solid gold
and not gold plated tungsten.

3. This will temporarily depress the price of gold,
enabling Americans to own real money not IOUs
from the Central Bank.

It could be as simple as

Ron Paul is just saying that the right thing to do is pay our debts. When we all run around on this site saying "America is Bankrupt" we should probably stop and realize that this means our debts are more than our assets, including our gold. So why is it such a surprise when the prospect of selling our gold comes up? America is broke, we no longer have a moral or legal claim to our assets, including our gold!

Keeping our gold and avoiding to pay a debt, or attempting to somehow get out of paying the debt is as immoral as stealing, because it is.

I agree with your first

I agree with your first sentence and haven;t bothered to read the rest. I think this it what it comes down to. Paul is wary about if Fort Knox holds ANY gold so he can offer a good idea at the same time allow and audit of the reserves.

It would obviously be a BAD time to sell any gold or silver but the damage is done and Ron is just offering alternative views, even if they aren't the best yet still Constitutional, to the devilish views of more debt and more money printing.

You are exactly right

We all know that there's little, to no gold left...It has been pilfered and was the catalyst crime that set the global banks in an all out frenzy to own the world.

Yeah, like

how much of the "gold" is gold and not just plated tungsten. Also, Fort Knox warehouses gold for other governments and entities that may have been robbed of their physical metal as well. Be interesting to see what it uncovers.

Give us clear vision, that we may know where to stand and what to stand for - because unless we stand for something, we shall fall for anything.
~ Peter Marshall, US Senate Chaplain 1947

I think this is what RP is

I think this is what RP is thinking too.

Ventura 2012

That's exactly right.

That's exactly right.