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Wow, the US is really hurting, we can't even 'coin' money.


"COIN!" - Ron Paul yells to Chairman Bernanke

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About Fort Knox

---Wish I could take credit for originating this, I did not. The gentleman who did is very, very thorough.---

The Gold in Fort Knox

The gold in Fort Knox does not belong to the government ---- it belongs to the FED --- here's the documentation:

Yes, there is still some gold in Fort Knox (according to the Mint audit) but there are unanswered questions about the quantity. The audit report of the U.S. Mint for 2006 lists the gold stock as 248,046,116 fine troy ounces (FTO), but this does not belong to the U.S. government. See note 6 on page 42 at

http://www.ustreas.gov/inspector-genera ... g07022.pdf

Footnote 2 on page 84 in the FY2005 Financial Report of the U.S. Government says:

“Gold totaling $10.9 billion for the years ending September 30, 2005, and 2004, was pledged as collateral for gold certificates issued and authorized to the FRBs by the Secretary of the Treasury.” (FRBs is the Federal Reserve Board)


Furthermore, this transfer of gold was at a “statutory price of $42.2222 per fine troy ounce (what a steal). This is also found in note 2 of this financial report. Thus we see that all the U.S. gold in Fort Knox is owned by the FED.

Even if the gold in Fort Knox did belong to government the only thing they could do with it from a Constitutional authority viewpoint would be to use it to pay the expenses of government. This would allow a reduction in taxes, at least temporarily, and put the gold back in the hands of the public where it belongs.



They're rationing now. Limited numbers to dealers....when

they get around to striking some more. It seems that more people are "getting it" than the mint or supplies of gold can stand.
"An economy built on fiat money is a society on its way to ashes."

"An economy built on fiat money is a society on its way to ashes."


Out of Gold, What is this coming to??