Poll: gold in Fort Knox?

coolest · January 30, 2014 8:23AM

What is your opinion?
Lots of gold?
No gold?
Can't make a decision by myself?

AUandAG · January 30, 2014 8:30AM

Lot's of gold........maybe

bob

derryb · January 30, 2014 8:33AM

How can anyone make a decision if they won't open the doors?

If there were lots of gold there, Germany would have been given what is theirs. They won't even open the doors for Germany to have a look.

secondrepublic · January 30, 2014 8:51AM

I think there's a lot of U.S. gold still there. I read somewhere that U.S. law prohibits selling the government's gold except to pay down the national debt. Gov't officials are unlikely to risk their own hide.

But selling / trading / leasing foreign countries' gold -- the stuff held by the Fed in NY -- well, that's a different story. The story about German gold seems to be a real smoking gun here.

bronco2078 · January 30, 2014 9:26AM

The neat thing about polls is if you vote early then check back you can almost tell what crowd is online at the moment.

I confess to being the first no gold vote

OPA · January 30, 2014 9:30AM

<< The neat thing about polls is if you vote early then check back you can almost tell what crowd is online at the moment.

I confess to being the first no gold vote

>>

Or which one is a Paranoid Conspiracy Advocate

Overdate · January 30, 2014 10:48AM

<< I think there's a lot of U.S. gold still there. I read somewhere that U.S. law prohibits selling the government's gold except to pay down the national debt. >>

Does the law prevent leasing it?

derryb · January 30, 2014 11:37AM

<< 

<< I think there's a lot of U.S. gold still there. I read somewhere that U.S. law prohibits selling the government's gold except to pay down the national debt. >>

Does the law prevent leasing it? >>

Law only applies to you and I.

secondrepublic · January 30, 2014 11:50AM

<< 

<< I think there's a lot of U.S. gold still there. I read somewhere that U.S. law prohibits selling the government's gold except to pay down the national debt. >>

Does the law prevent leasing it? >>

Dunno... haven't been able to find the original law anywhere.

bronco2078 · January 30, 2014 11:05PM

<< 

<< The neat thing about polls is if you vote early then check back you can almost tell what crowd is online at the moment.

I confess to being the first no gold vote

>>

Or which one is a Paranoid Conspiracy Advocate

>>

It looks like the PCA crew is behind in the polls by a score of 15-11 . I count the don't knows as PCA's .

Time to energize the base , bump for the dayshift

derryb · January 30, 2014 11:12PM

to most people 10 ounces is "lots of gold." Hopefully there is more than that in the vault.

ricko · January 30, 2014 11:31PM

I believe it is there..... if there were none, the secret would long be out..... Cheers, RickO

cohodk · January 30, 2014 11:46PM

I believe it is there. But if it wasn't, the USA and its fiat currency would still be the strongest economic, political, and technoligical force on the planet with the strongest and most sophisticated military to back it up.

derryb · January 31, 2014 12:25AM

<< I believe it is there. But if it wasn't, the USA and its fiat currency would still be the strongest economic, political, and technoligical force on the planet with the strongest and most sophisticated military to back it up. >>

If it's not there, then why is it so important for the world to believe that it is?

reddwing · January 31, 2014 12:39AM

One question I have is this. Does the US still add to their gold holdings? If not, when was the last time that the US Govt added to their official gold holdings. I read where China, India, Germany, France, Russia, Mexico, and other countries continue to do so. Not sure what the US position is on this.

derryb · January 31, 2014 12:59AM

<< One question I have is this. Does the US still add to their gold holdings? If not, when was the last time that the US Govt added to their official gold holdings. I read where China, India, Germany, France, Russia, Mexico, and other countries continue to do so. Not sure what the US position is on this. >>

I suspect the US position is to assist these countries in adding to their gold holdings.

renman95 · January 31, 2014 4:08AM

Is there gold in FN? Yes. Who owns it? Ah, it's complicated.

johnny9434 · January 31, 2014 4:35AM

if its empty then were all in huge trouble.

Higashiyama · January 31, 2014 4:39AM

Of those who voted "no" -- does anyone have a credible explanation as to why we felt compelled to let it go? For years, the Saudis, the Japanese, and now the Chinese have been happy to take our "paper". The financial markets are utterly obvious to what is happening under the surface at Fort Know.

dbcoin · January 31, 2014 4:50AM

<< One question I have is this. Does the US still add to their gold holdings? If not, when was the last time that the US Govt added to their official gold holdings. I read where China, India, Germany, France, Russia, Mexico, and other countries continue to do so. Not sure what the US position is on this. >>

The US owns more gold than any other nation by a large amount. Why would they need to add to it?

roadrunner · January 31, 2014 5:52AM

The US owns more gold than anyone else on "paper." Those paper numbers include leased and promised gold. The inventory doesn't tell us on which country's books it is listed.

There's lots of gold in Fort Knox. But probably not the amount listed on the current inventory. Something considerably less. The real issue is who owns the gold at Fort Knox. The US FED/Treasury could have
easily worked swaps and leases over the years with other countries essentially giving them title to that gold. Forget the inventory, show us the swap, lease, loan, and sale books. In the rare instance that all
tonnes are there....you can bet we don't own it all. Rumor has it that JPM was leased millions of ounces of gold from the US govt back in 2004-2008. And the govt wants it back. JPM doesn't want to give it back.

LowBudget · January 31, 2014 6:31AM

probably moved and location will never be known

cohodk · January 31, 2014 12:58PM

<< 

<< I believe it is there. But if it wasn't, the USA and its fiat currency would still be the strongest economic, political, and technoligical force on the planet with the strongest and most sophisticated military to back it up. >>

If it's not there, then why is it so important for the world to believe that it is? >>

I think there is only a very very small number of people in the world who feel it is important. Really, the vast majority of people in the world and in this grand country couldnt care less about any gold in Fort Knox. Gold in Fort Knox is not what makes this the greatest country the planet has ever known .

derryb · January 31, 2014 9:39PM

<< 

<< 

<< I believe it is there. But if it wasn't, the USA and its fiat currency would still be the strongest economic, political, and technoligical force on the planet with the strongest and most sophisticated military to back it up. >>

If it's not there, then why is it so important for the world to believe that it is? >>

I think there is only a very very small number of people in the world who feel it is important. Really, the vast majority of people in the world and in this grand country couldnt care less about any gold in Fort Knox. Gold in Fort Knox is not what makes this the greatest country the planet has ever known . >>

There is no guarantee that greatness will last, even with the most powerful military. Ask a Roman, if you can find one.

Greatness is extended by honesty, fairness and social conscience. History has shown that it can easily end due to economic mischief and financial irresponsibility.

cohodk · February 1, 2014 12:23AM

Ah yes. Gold, the Almighty, the Savoir. Surely gold will protect us from ourselves and keep us on the path of salvation. Viva la gold!!!

Baley · February 1, 2014 12:27AM

Ask a Roman, if you can find one.

I was recently in Rome. It was packed with Romans.

derryb · February 1, 2014 1:11AM

<< Ask a Roman, if you can find one.

I was recently in Rome. It was packed with Romans. >>

You were mistaken, they were Roman descendents now under a different ruler. They're not even allowed to call themselves Romans.

Baley · February 1, 2014 1:25AM

Well, they seemed happy, for the most part, whatever they're called.

Even if Rome had maintained and grown its empire, those folks would have died, and their decendents would live just like other modern people, and each one's personal outcomes would be mostly determined by luck of birth, chances of fate, and daily decisions about what to do with their time.

derryb · February 1, 2014 1:29AM

<< Well, they seemed happy, for the most part, whatever they're called.

Even if Rome had maintained and grown its empire, those folks would have died, and their decendents would live just like other modern people, and each one's personal outcomes would be mostly determined by luck of birth, chances of fate, and daily decisions about what to do with their time. >>

They were fortunate (unlike the Tibetians, Ottomans or American Indians) to have found a new greatness.

Overdate · February 1, 2014 4:50AM

<< I was recently in Rome. It was packed with Romans.
You were mistaken, they were Roman descendents now under a different ruler. They're not even allowed to call themselves Romans. >>

"When in Rome, do as the people who happen to live in Rome do."

Doesn't sound quite as pithy.

roadrunner · February 1, 2014 4:57AM

<< I think there is only a very very small number of people in the world who feel it is important. Really, the vast majority of people in the world and in this grand country couldnt care less about any gold in Fort Knox. Gold in Fort Knox is not what makes this the greatest country the planet has ever known . >>

If tomorrow the USTreasury reported that all 8133 tonnes of US gold reserves were gone. In other words they were sold off to help keep gold and currencies in check over the past 20 years. How do you think the price of gold
the USDollar, and other key financial metrics would respond? I think the dollar would crash big time. The markets would enjoy similar wild swings. If it doesn't matter, why don't they just come forward with a detailed audit on
all what they have plus all the gold swaps, leases, and various transactions conducted over the last 25 years. After all, if only a "few people in the world" care why not just come clean? Why the big charade? If J6P found out
that his gold was gone and govt had been lying about if for decades all heck would break loose....immediately.

The gold the US held from 1787-1960's is precisely what helped make this country great. It's rather obvious that the superpowers of the past 500 years or so were the ones that had a monetary system backed by gold/silver.
Great Britain rose to power on gold and the US did the same thing in the late 19th/early 20th centuries. It was precisely the gold standard and the industry that was built on that, which drew in all those immigrants from 1870
onward.

derryb · February 1, 2014 7:12AM

what are the chances a lot of the gold was sold off to bullion dealers to keep gold prices down by increasing market supply?

If so, what are the chances that once it was depleted the futures market became the method to control market price?

Leasing to bullion dealers to sell would not accomplish the task because the dealers would eventually have to decrease market supply by buying it back to return it to its source.

cohodk · February 2, 2014 12:30AM

If the USA had no gold, the USA would still be the worlds #1 superpower. Chaos would not break out. Good is not what defines a country.

There is no charade. Only the fantasies of a few desperate to preach a religion.

Baley · February 2, 2014 1:19AM

<< If the USA had no gold, the USA would still be the worlds #1 superpower. Chaos would not break out. Good is not what defines a country.

There is no charade. Only the fantasies of a few desperate to preach a religion. >>

The one thing zealots all have in common: the claim that they're right and everyone else is wrong. This is based on a claim that their revelation is both novel (they are the few enlightened ones among all the current uninformed or misled) and timeless (based on ancient "truths")

Meanwhile, evolution favors the adaptable that can use new information and technology to advance and pass the advantage to the next generation.

derryb · February 2, 2014 2:23AM

"Zealots, end of the world, preaching their religion"

Sounds like a gun control activist.

It's really quite simple - let the facts speak for themselves. Denying reality does not make reality any less real nor does it make those that do see it any less accurate.

Gold in Ft. Knox? Not important. What is important is if it is not there, where did it go and why?

ricko · February 2, 2014 3:28AM

Good thing we are not sitting around a comfortable room with full brandy snifters (and a copious supply).... wow... imagine the theories that would arise and the debate ensue.... all over a simple 'yes or no' question....

Cheers, RickO

roadrunner · February 2, 2014 11:34AM

<< If the USA had no gold, the USA would still be the worlds #1 superpower. Chaos would not break out. Good is not what defines a country.

There is no charade. Only the fantasies of a few desperate to preach a religion. >>

The truth is we don't know what would happen if the people's gold were reported all gone tomorrow. My feeling is that massive moves in numerous markets would occur. And things would not settle out where they had
been. You could consider this an instant devaluation of the $1 TRILL or so in circulating FRN's. Yes, the USA would still be the #1 superpower. But our markets would take a pounding for quite a while....especially our finanical
and economic markets. The Defense Dept would do just fine. No religion or charades here just following what has happened in history with such revelations. One can preach all they want that the world hasn't been on a gold
standard for over 40 years.....but that's really BS. And the evidence of the CB's continuing to hold 31,000 tonnes of "useless" gold demonstrates that fact. Fwiw that "religion" is currently practiced by the FED and CB's of the
world. Must be something to it. The lack of transparency in any gold transactions for decades also supports the validity of this central bank "religion." When those guys come clean with all the books and records and dispose of
all their holdings, then it will be clear it was a charade all along. I don't think the other nations of the world would look too kindly upon the purchasing power of the USD if the world's reserve currency were found NOT to have
8133 tonnes of gold behind it. The USD's relative strength to all other major currencies would plummet overnight. China, Russia, India, Brazil, Germany, Italy, France, etc. all take gold's role in their economies very seriously.

cohodk · February 2, 2014 11:46AM

My feeling is that massive moves in numerous markets would occur. And things would not settle out where they had
been.

I would agree since most models are built on what is known. The unknown is what causes problems. But when the markets determine that F, or MSFT or WMT, or AAPL will not experience any adverse effects to their earnings and the world did not end and the US still has the most powerful economy and military all will revert back to "normal". The mailman will deliver your mail. The lights will stay on. Planes will not fall out of the sky and people will still discuss American Idol by the water cooler.

TwoSides2aCoin · February 2, 2014 11:22PM

Yes … thats why I was in uniform with an M 1911 A1, and an M-16. To guard it.

DoubleEagle59 · February 2, 2014 11:24PM

Very little left.

Justacommeman · February 4, 2014 4:41AM

some gold

MJ

derryb · February 4, 2014 10:44AM

<< Yes … thats why I was in uniform with an M 1911 A1, and an M-16. To guard it. >>

Maybe they even had you fooled.

Did you see the gold or just the locked vault?

coolest · February 18, 2014 3:33AM

Tha answer is....... No gold left!
all teh gold has been rehypothicated or sold to China
The price of gold will be well over $3000/oz by the end of the year!

OPA · February 18, 2014 5:04AM

<< Tha answer is....... No gold left!
all teh gold has been rehypothicated or sold to China
The price of gold will be well over $3000/oz by the end of the year! >>

good grief..another brainwashed conspiracy nut....welcome to the asylum.

jmski52 · February 18, 2014 11:54AM

If it's so unimportant, why isn't there a public accounting done on a regular basis, just like any business is required to do every year? Apparently, the answer is too important or too sensitive, for reasons that we don't get to know. The whole thing smacks of dishonesty.

cohodk · February 18, 2014 3:07PM

Why account for it if we know its there? There is only a small group of people who dont agree. Why appease them?

jmski52 · February 18, 2014 9:34PM

So, you don't think that the government should be held to at least the same standards as any private company or individual? So you really believe that the people should be accountable to the government, but that the government doesn't need to be accountable to the people?

The answer to the question of whether or not there is gold in Ft. Knox is an answer to a question of principle, cohodk. Don't you agree?

GRANDAM · February 18, 2014 10:52PM

As my wise old GrandPappy use to say,

He who has the gold makes the rules,,

If / when it is discover that the US doesn't have all the gold it is supposed to have the rules will change and someone other than Americans will be making the new rules and the NEW rules will not favor the US.

JMHO, GrandAm

TwoSides2aCoin · February 18, 2014 11:01PM

<< 
Maybe they even had you fooled.

Did you see the gold or just the locked vault? >>

I only saw the lead and the brass, and had to salute the latter.

mhammerman · February 18, 2014 11:17PM

At this point, what difference does it make?

roadrunner · February 19, 2014 8:45AM

<< Why account for it if we know its there? There is only a small group of people who dont agree. Why appease them? >>

So if you and I made a bet for $10,000 that all that gold listed on the US gold inventory was in the vaults with the US as the rightful owner to every ounce, that you'd take the YES side? Just to be fair, I'll give you 99% which allows for 83 tonnes of "slippage." Of course to do this we'd have to review both sets of books on those vaults including all the lease and swap records. The difference at this point is that if J6P found out tomorrow that there was more than 1/3 of the gold missing or reassigned to some other nation, the price of gold would sky rocket over night. Of course, the following morning the PPT would get to work selling hundreds of thousands of naked gold futures contracts on the Comex....lol. Within the next 10 years the on-going scams on the Comex/LBMA and/or US official gold inventory will blow wide open. Take your pick....or both if you like.

The US still owns the world's reserve currency. And those 8300 tonnes of gold in inventory have a huge influence on the dollar's perceived value and liquidity to our trade partners. Symbolism is an expensive notion in this case.
If the gold is indeed gone there is no way the US govt will give up that information.

Poll: gold in Fort Knox?

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