Just how much gold do you think is in Fort Knox?
sturmgrenadier
Posts: 158
Speculate away
My older brother is a 'goldbug' and is unswerving his his belief that there is much less in the repository than the US govt leads the public to believe. He believes the govt has gradually depleted its gold supply by strategically selling its gold over the years at critical moments so as to suppress gold's value. Conspiracy nonsense? Fifteen years ago, my finance professor taught me that the Fort Knox gold supply was established and maintained so that if there was a catastrophic, global economic meltdown necessitating a return to the gold standard, we would have the most gold and thus be best positioned. I looked at my bookstore this weekend, but I didn't find any interesting books about Fort Knox.
My older brother is a 'goldbug' and is unswerving his his belief that there is much less in the repository than the US govt leads the public to believe. He believes the govt has gradually depleted its gold supply by strategically selling its gold over the years at critical moments so as to suppress gold's value. Conspiracy nonsense? Fifteen years ago, my finance professor taught me that the Fort Knox gold supply was established and maintained so that if there was a catastrophic, global economic meltdown necessitating a return to the gold standard, we would have the most gold and thus be best positioned. I looked at my bookstore this weekend, but I didn't find any interesting books about Fort Knox. 0
Comments
That would work out great...keep the price down, keep the physical gold, and get extra income from the fees!
So, the US would 'own' no gold, but have physical posession and control of it.
Random Collector
www.marksmedals.com
I wonder what else is hidden in those rapids: pirate treasure, rusty tin cans
I believe that the govt. has all the gold in Ft. Knox now that was there when they opened it up in the 70s for reporters to see. With the possible exception of gold belonging to other countries.
and more brass than grass.
Whenever one party refuses to act transparently to a second party
concerning how the assets of the second party are managed, I have doubts.
...
As of 2:27 P.M. EST, there is 133,306,500,000 dollars worth.
according to the U.S. Mint's website and the spot gold price.
Too many positive BST transactions with too many members to list.
<< <i>As of 2:27 P.M. EST, there is 133,306,500,000 dollars worth.
according to the U.S. Mint's website and the spot gold price. >>
Just enought to back the money owned by 3 people, Bill Gates, Buffet and who ever is third
...
<< <i>
<< <i>As of 2:27 P.M. EST, there is 133,306,500,000 dollars worth.
according to the U.S. Mint's website and the spot gold price. >>
Just enought to back the money owned by 3 people, Bill Gates, Buffet and who ever is third
actually, if i recall, the rankings have changed: 1. Carlos Slim 2. Warren Buffet 3. Bill Gates
edited to add: yeah, you're point is valid. If that number is correct (133b), it is scary that 3 folks hold that much alone
<< <i>
<< <i>As of 2:27 P.M. EST, there is 133,306,500,000 dollars worth.
according to the U.S. Mint's website and the spot gold price. >>
Just enought to back the money owned by 3 people, Bill Gates, Buffet and who ever is third
However, a lot of that wealth is only "theoretical" wealth, backed by non-government securities such as stock holdings.
60 years into this hobby and I'm still working on my Lincoln set!
That is when they're not out flaunting them at coin shows!
1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
Any help locating any of these OBW rolls would be gratefully appreciated!
This tax season we the tax-paying public are going to receive in the form of a rebate check -- and spend that whole amount ($150 billion) and more, buying more plastic pumpkins from China as a free gift from our goverment.
Tyler
I tell ya though, like I've said before.....In a deep recession time, I'd rather have corn than gold. This coming from someone who has enough land and know how to grow his own food.
"Ya can't eat gold boy!"
Too many positive BST transactions with too many members to list.
These 9 oz are currently masquerading as 10 individual 1933 Double Eagles!
As for the other, I really could care less how much is in there and simply takes the governments response at face value! After all, we are no longer on the gold standard so what's the biggie?
The name is LEE!
The name is LEE!
132.84 billion dollars worth.
Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
I think I know a way to pay off the deficit!
Loves me some shiny!
Proud recipient of two "You Suck" awards
That amount would back our circulating currency to the tune of 100 - 1. A small number but still a control.
You can't eat gold boy
Well how many investments out there can you store serious quantities of and actually "eat?" Let's name a few that aren't very edible: savings account, CD's, stocks, bonds, oil, natural gas, land, timber, gold, silver, copper, nickel, ivory, diamonds, beanie babies, antiques,
lead, uranium, meteorites, rubber, silk, cotton, etc. Man, it's hard to find any investment you can actually eat! Essentially nothing is the answer. So who cares if you can't eat gold. Jedd Clampett couldn't drink his Texas Tea either, but he was a millionaire x 80.
Now those of the corn, water, milk, sugar, coffee, variety how much can you store to make this an "investment?". Obviously having stock in these items doesn't mean you ever get any if you want, not even in an ETF. So if your not a farmer w/o a grain silo, how much corn could you keep at home in place of say 10 - 1 ounce AGE's? ($9,000) And how long would it keep?
If it was no biggie how much we have at Fort Know why is not audited more often? Why can't it be made more transparent how much we own and how much has been leased or sold?
I would guess that less than half survives under US ownership. Much of the rest went to the Bundesbank and other CB's in keeping gold suppressed in the 1995-2005 era. But the BIS is smart and allows both parties (seller and buyer) to keep the gold on their books, even though one of them no longer owns it. If ENRON had followed this type of GUSAP accounting principles they would still be around today fleecing more investors.
GUSAP = Generally Unacceptable Stupid Accounting Principles
roadrunner
<< <i>Alot. >>
"The Depository is a classified facility. No visitors are permitted, and no exceptions are made."
Pretty much nullifies everything mentioned before it.
No visitors are permitted, and no exceptions are made."
Except for James Bond movies.[
Proud recipient of two "You Suck" awards
and at the time, the value was about $17 Billion, if I recall.
I saw something a few months ago that said the gold
there was valued at $30 Billion, so that makes sense......
(I actually got to hold one of the bars - heavy puppies!!!)
The gold is held as an asset of the United States at book value of $42.22 per ounce
Hold, If Fort Knox actually did
Hold gold?
Camelot
rainbowroosie April 1, 2003
<< <i>Its' all in the Potomac, right below Great Falls.Respectfully, John Curlis
I wonder what else is hidden in those rapids: pirate treasure, rusty tin cans
Jimmy Hoffa
I was a Monkey
<< <i>
<< <i>As of 2:27 P.M. EST, there is 133,306,500,000 dollars worth.
according to the U.S. Mint's website and the spot gold price. >>
Just enought to back the money owned by 3 people, Bill Gates, Buffet and who ever is third
I heard Buffet moved into 1st
<< <i>None. The US is only holding gold for its rightful owner -- the People's Republic of China -- wish this was an April Fools Day answer...
They'd prefer our land to our gold, I'd think.
<< <i>I tell ya though, like I've said before.....In a deep recession time, I'd rather have corn than gold. This coming from someone who has enough land and know how to grow his own food.
"Ya can't eat gold boy!" >>
Amen! thats why I have 28 more fruit trees coming this month, but a little gold or silver isn't a bad thing to have arround.. a couple silver dollars will pick up a good breeding pair meat rabbits, if need be.. I am not going to crawl in a bunker and hide from the world.. but I can feed my family with I have, or trade what I have for what I need if things get too bad.
"I am sorry you are unhappy with the care you recieved, is their anything I can do for you right now, how about some high speed lead therapy?" - A qoute from my wife's nursing forum
"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them." – Thomas Jefferson