Mnuchin’s Pre-Fort Knox Quip: ‘I Assume the Gold Is Still There’
carew4me
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-Only third Treasury secretary to visit U.S. Bullion Depository -$200 billion worth of gold, but it hasn’t counted since 1953
Loves me some shiny!
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We all know the old euphemism that goes with 'assume'...... Cheers, RickO
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Meaningless... Whether it's there or not there, the fort is looking for their bitcoin anyways...
And his wife suddenly became more newsworthy than the gold.
Natural forces of supply and demand are the best regulators on earth.
Why would someone of his wealth and stature ever get married, especially to someone who could be his daughter? Dude must like writing alimony checks.
Knowledge is the enemy of fear
@cohok..... "Why?"..... Well, the obvious answer... hope he had a good prenup....Cheers, RickO
With his wealth and stature he could easily go out and get a like kind replacement.
What's a trip to the gold vault without a gold digger?
Natural forces of supply and demand are the best regulators on earth.
Hope. The odds are better at a casino in Las Vegas yet hope rules.
Why ?......................because he **can **
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The existence of the gold is not the only concern. The gold held by the US government is not just owned by America, it holds gold for many countries. Because the Fed keeps secret its gold swap arrangements with foreign banks, these gold swap arrangements could be nothing more than an expensive game of pass the parcel. These gold swap arrangements bring to question whether the fed his holding allocated gold for a foreign country or simply a paper promise for the gold. Fractional banking may very well extend beyond commercial banks.
Natural forces of supply and demand are the best regulators on earth.
The USA holds lots of oil, natural gas, iron ore, coal, forests, rivers, lakes, sunshine, cows, chickens, pigs, corn, wheat, soybeans, sandy beaches, mountains, missiles, manufacturing plants, airplanes, railroads, ect. That's really all that's important.
Knowledge is the enemy of fear
The majority of these things are held by productive American citizens and businesses and not hidden unaccounted for in a secret vault with secret accounting. Big difference. What's also important is the holdings and liabilities by our government - they are actually the holdings and liabilities of the taxpayers.
Natural forces of supply and demand are the best regulators on earth.
Here's another secret.....don't tell anyone......
Gold is meaningless and worthless in regards to the strength, vitality, productivity, innovation and power of the USA, it's currency and it's citizens.
Knowledge is the enemy of fear
Must be why they keep it in a secret vault with secret accounting under guard by the US Army. Yep, worthless and meaningless.
Natural forces of supply and demand are the best regulators on earth.
So you DO believe it's there!!
Belief in the value of gold is a religion. Nothing wrong with believing. We all die in the end. We can either worry, fret, be afraid, or allowed to be controlled, or we can enjoy life and all the spoils that come with freedom of thought.
Knowledge is the enemy of fear
Rickards: The truth about the Fort Knox gold
Natural forces of supply and demand are the best regulators on earth.
**_Many gold bugs and conspiracy theorists say there is no actual gold in Fort Knox. They say the reason the government will not audit the gold, for example, is because the gold is not there.
But the truth is quite the opposite_**
Well, there you go then.
Knowledge is the enemy of fear
I believe there's gold in them thar vaults. Quality and quantity is questionable, should be assayed and audited. Would also be nice to know how many "owners" there are for each bar. Fractional banking is common so why should gold be any different.
Natural forces of supply and demand are the best regulators on earth.
Humans hoard gold because we must do so, by genetic imperative. We have been bred to do so by the Sky Brothers, who will return to collect it someday. Thus we as a species are irresistibly compelled to mine, refine, form, and store it. And of course, we must build strong places to put it, and keep meticulous count of it and obsess over the amount.
Liberty: Parent of Science & Industry
It is much simpler - we have learned that it will always have value, especially in the face of declining value elsewhere.
Natural forces of supply and demand are the best regulators on earth.
The USA holds lots of oil, natural gas, iron ore, coal, forests, rivers, lakes, sunshine, cows, chickens, pigs, corn, wheat, soybeans, sandy beaches, mountains, missiles, manufacturing plants, airplanes, railroads, ect. That's really all that's important.
Exactly. And gov.com wants to split it with the banks, but the banks simply want it all.
Gold is meaningless and worthless in regards to the strength, vitality, productivity, innovation and power of the USA, it's currency and it's citizens.
And gov.com wants to split it with the banks, but the banks simply want it all.
With trillions in unsecured debt & unfunded liabilities, I will give you 3 guesses about how gov.com in collusion with the banks intend to redistribute all that wealth.
3 guesses only.
I knew it would happen.
Of course we all > @derryb said:
When has gold risen when the values of everything else declined? When has everything decined?
More evidence shows gold declining, especially on a relative basis, when everything else has risen.
Knowledge is the enemy of fear
I guess you should buy the banks then?
Knowledge is the enemy of fear
I was referring to declining value in forms of money other than gold. Gold is the anti-fiat currency, no matter where you are in the world.
Natural forces of supply and demand are the best regulators on earth.
Ok....I guess that brings us back to, "what is money?".
I would hazard to guess that almost everything, including services, have at one time or another been exchanged for other things or services.
I, on more than one occasion, have exchanged my time and labor for a truckload of cow sh*t.
My belief is that time and labor is more universally accepted, desired and attainable than gold. Many, many more folks can afford and have time and labor than have gold.
Knowledge is the enemy of fear
Gold is simply an element.
People and their range of Cares about it are interesting.
Many ignore it and live long, fulfilling lives nevertheless.
Others obsess over it, and are continually miserable.
Liberty: Parent of Science & Industry
No worries. Inside the vaults are probably IOU's.
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3 guesses only.
I guess you should buy the banks then?
Try again. 2 more tries left.
I knew it would happen.
You said the banks were going to split it all with gov.com (lol), so using your logic I think the guess I made is best. Are you withholding some other info?
Knowledge is the enemy of fear
Um, continue to devalue the dollar?
Good. We're well positioned here,
aren't we?
Liberty: Parent of Science & Industry
I hear tell that recently David Copperfield was sighted in the vicinity of Fort Knox. Perhaps he can shed some light on the "disappearance" of the gold.
You said the banks were going to split it all with gov.com (lol), so using your logic I think the guess I made is best. Are you withholding some other info?
Unless you own a bank, you're fooling yourself if you think they'll cut you in on the mainline of their profit stream.
I'll only count that as 1/2 of a guess.
Only 1 1/2 more guesses left. Use them wisely.
I knew it would happen.
Guessing implies that one does not know. I don't need to guess.
Knowledge is the enemy of fear
Bought some gold teeth the other day. The dead guy won't be chewing with them.
It's about $20 higher today. Blessings are abundant... Like teeth.
Take a bite out of gusto.
Why all the secrecy then? Shouldn't there be full transparency to all Americans? What if it wasn't "there" as the government sees that it is "there"? It would not be that hard to fake large amounts of gold bricks with cheaper copies.
_Guessing implies that one does not know. I don't need to guess. _
There's always a possibility that you could be "wrong". It seems to me that Harvey will force the Fed into more blatant support of the economy via more free money to the banks so that the banks can start shagging more loans to businesses hurt by the storm.
Profitability is going down the drain in Texas right now, and the additional drag on the economy isn't going to help anyone. Diluting the value of a dollar by creating more of them only redistributes wealth, mostly to the distributors of those dollars.
I knew it would happen.
Try auditing your bank that holds your cash. They were allowed to loan 90% of it to others. When you withdraw it all, 90% of it comes from the other depositors' 10% that is on hand. This is why the FED will stop at nothing, including closing the banks, to prevent a bank run.
No reason for fractional banking to also not apply to gold deposits. Note that what Germany has deposited here was not all returned at once when they asked for it.
Natural forces of supply and demand are the best regulators on earth.
Does Jesus exist?
Knowledge is the enemy of fear
Why the visit to Ft. Knox?
"Maybe Mnuchin and McConnell just wanted to make sure the gold was there before they revalue it and issue new certificates."
This could also explain why gold is being allowed to make a move up.
Natural forces of supply and demand are the best regulators on earth.
There is gold in the Fort Knox vaults. Whether it has been hypothecated or not is for a different discussion. The important fact is that it is carried on the books of the United States at $35 an ounce or so. Thanks to a 1934 currency law the Treasury can mark the gold up to free market value and issue a gold certificate to the Fed for it and they can then use that as the basis to issue more FRNs. This is plan B if Congress does not raise the debt limit. Turns out the Eisenhower administration did this back in 1954 or so. Now you know why he went to Fort Knox.
There is gold in the Fort Knox vaults. Whether it has been hypothecated or not is for a different discussion. The important fact is that it is carried on the books of the United States at $35 an ounce or so. Thanks to a 1934 currency law the Treasury can mark the gold up to free market value and issue a gold certificate to the Fed for it and they can then use that as the basis to issue more FRNs. This is plan B if Congress does not raise the debt limit. Turns out the Eisenhower administration did this back in 1954 or so. Now you know why he went to Fort Knox.
If that's the plan, it's only a one-time fix. What happens after that? To go down that road would imply that no other options exist and surely they already know that it won't work for long. I don't think that's the reason for the visit, but I don't know what that reason could possibly be. They have absolutely no intention of a transparent accounting, so I'm baffled by what the purpose of the visit was.
I knew it would happen.
It's not exactly a one time fix since the price of gold fluctuates, and they have already used this once before.
Don't all the gold bugs think it's going to $5000 an ounce. They'll have plenty of new opportunities in the future if it starts rising.
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Just because the Gov says their gold is worth $5000 an ounce does not mean your gold is worth $5000 an ounce. Currently US values their gold at $42 an ounce, what does the market say yours is worth?
Natural forces of supply and demand are the best regulators on earth.
For some folks gold is worth zero. Can't exchange it for what they want.
Knowledge is the enemy of fear
Depends entirely on the form.
If i have a pure oz. each a.g.w in the form of:
An AGE
A poured bar
A natural gold nugget
A pile of assorted dental gold in various alloys
A pile of broken jewelry
A pile of nice jewelry
1805 and 1812 half eagles and the rest of the ounce in gold dust
A ton of gold plated electronic parts that contain an oz total gold
and
A one ounce slice of a good for delivery bar
How much should i expect to get for each?
Liberty: Parent of Science & Industry
Sounds like the actual reason for the visit was to watch the total eclipse, and the whole check on the gold bit was just an excuse.
I like that question about Jesus, previously posed . He lives, but you have to believe. Now back to the mine.
Are we digging a deeper hole or raising the debt ceiling ?
You mean, are we going to pay the bills that we already incurred, or just default on them?
It means we are enslaving generations to come until we have another emancipation proclamation declared for the people. That's WE, the people in the 99%