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1st Fort Knox! now Royal Canadian Mint : PM's Disappear

NumbersUsacomNumbersUsacom Posts: 1,457 ✭
in Precious Metals
CaptHenway posted this article 1st.

Fort Knox ?...... And Now RCM external auditors has confirmed disappearance of PM's


Royal Canadian Mint (RCM) " Mint can't account for missing gold, silver"


News Services June 3, 2009

A significant quantity of gold, silver and other precious metals is unaccounted for at the Royal Canadian Mint.

External auditors are investigating a discrepancy between the mint's 2008 financial accounting of its precious metals holdings and the physical stockpile at the plant on Sussex Drive in Ottawa.

The mystery raises possibilities from sloppy bookkeeping to a gold heist.

Officials with the commercial Crown corporation are saying little and refuse to confirm the amount and value of the unaccounted for gold, silver and palladium.

© Copyright (c) Canwest News Service

NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac

Comments

  • KentuckyJKentuckyJ Posts: 1,871 ✭✭✭

    > Fort Knox ?......


    Just out of curiosity, are there any facts, other than tired old conspiracy theories, to support this allegation?
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    "Just out of curiosity, are there any facts,..."

    That's the problem, no facts. Hasn't been an audit of the federal gold depository reserves, at least not one that has been published, in many many years.
  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    The article is refering to an audit at RCM not FK. I was alluding to all the discussions lately here regarding the questionable gold quanity at FK.

    For the article CaptHenway posted, go to: U.S. coin forum, type in "rcm" and will be first item.
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • coynclectercoynclecter Posts: 2,111
    How do you get "facts" when no one is allowed past the gate.

    The fact that they won't allow an audit should be the main "fact" that tells the story.
  • 1jester1jester Posts: 8,637 ✭✭✭


    << <i>> Fort Knox ?......


    Just out of curiosity, are there any facts, other than tired old conspiracy theories, to support this allegation? >>



    As they say in certain circles,

    "When there is a doubt, there is no doubt."


    imageimageimage
    .....GOD
    image

    "Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9

    "Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5

    "For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
  • KentuckyJKentuckyJ Posts: 1,871 ✭✭✭

    I may be off a bit on this but I seem to recall President Nixon went to Fort Knox back in the 70's and toured the vaults with a press pool because there were rampant stories the depository held no gold, which turned out not to be true. So, the more this theory changes the more it stays the same image

    I think it's likely the feds know EXACTLY how much gold we own, and where it is. You probably can't move large quantities of gold in or out of Fort Knox without someone noticing or saying something about it. I know some of the locals that work there.

    Why should the feds reveal to Joe Public what they have and the locations where they hold it? I'm not against an independent audit but a lack of one does nothing to convince me the Fort Knox gold is gone.
  • SilverEagles92SilverEagles92 Posts: 6,787 ✭


    << <i>

    << <i>> Fort Knox ?......


    Just out of curiosity, are there any facts, other than tired old conspiracy theories, to support this allegation? >>



    As they say in certain circles,

    "When there is a doubt, there is no doubt."


    imageimageimage >>



    The accepted vernacular is "gay."

    image
    image
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  • BearBear Posts: 18,953 ✭✭✭
    Perhaps there is a secret tunnel

    from The RCM to Fort Knox.image
    There once was a place called
    Camelotimage
  • BearBear Posts: 18,953 ✭✭✭
    Calling Inspector LeStrad of S.Y...... Detective Curly....Detective Moe....Detective Larry!
    There once was a place called
    Camelotimage
  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    Didn't I hear that Bear has cavernous instints?
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • CaptHenwayCaptHenway Posts: 32,232 ✭✭✭✭✭
    I never said anything about Fort Knox.

    According to the Coin World Almanac, a tour group consisting of seven congresspeople and approximately 100 reporters toured the Fort Knox gold vaults on Sept. 23, 1974. A special audit followed the tour, conducted by the General Accounting Office and the Treasury.

    My Editor at the time, Margo Russell, was on that tour. She came back to Sidney amazed at the amount of gold she had seen.

    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • KentuckyJKentuckyJ Posts: 1,871 ✭✭✭

    > She came back to Sidney amazed at the amount of gold she had seen


    It was posted on the coin forum a week or so ago the Perth mint in Australia holds more gold than any other place on earth. I found that hard to believe. My understanding has always been vaults of the NY fed are #1, Fort Knox #2, overall USA #1, Germany #2. The question re the Fort Knox gold ... who actually owns it? I think it is clear a lot of the NY gold is being held by the US for other countries.
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    linky

    from Ottawa.....

    250 kilograms ..........a lot but not like where did it all frickin' go?...............
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    My Editor at the time, Margo Russell, was on that tour. She came back to Sidney amazed at the amount of gold she had seen

    That was 35 years ago. A lot has changed since then. According to former Fed Chief Paul Volcker, he regretted did nothing to suppress gold during his years of tenure. But when Rubin hit the Clinton white house in the early 1990's he was a seasoned pro on how the maneuvering of gold swap/lease/sales was critical to managing or strengthening the dollar. His doctoral thesis was on the same topic: strong US dollar policy and how it was related to the 1960-1968 London gold market. Rubin established the AIG London gold trading desk in 1990. Rubin passed along his knowledge of gold "tactics" to his understudy Larry Summers during their years together in the Clinton cabinet. Summers followed Rubin as Secretary of the Treasury. He was a major proponent of using gold to help manage the US dollar. Both men are now back in the current administration along with Volcker. It would make sense that Rubin and Summers are there to do what they do best while Volcker is the guy that had first hand knowledge in raising interest rates to record heights to crush inflation.

    I have no doubts that the physical gold was all there in the 1970's. But, how much gold has been leased/sold/swapped since the 1990's? Certainly much more than most people think.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • CaptHenwayCaptHenway Posts: 32,232 ✭✭✭✭✭


    << <i>linky

    from Ottawa.....

    250 kilograms ..........a lot but not like where did it all frickin' go?............... >>



    Where did you see the figure 250 kilograms?
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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