Fort Knox, is there really gold there

[ConceptualizedNetherlandr]

would Help !

Maybe the Place is Loaded with Gold Certificates
View attachment 2194451
& IOU's

10$ in gold coin. How is that defined? 10$ ain't much gold anymore

 

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[fishstick]

You are missing that our dynamic duo would want to roll around in it with hookers & porn stars.

Duo?

 

[Nwohseeker]

I think most Americans want "the truth", for me it's just the way this current administration is going about with the "tear it all down" mentality!

I think most Americans want "the truth", for me it's just the way this current administration is going about with the "tear it all down" mentality!

Speaking of tearing down things you guys catch any of that rain last week in California to fill up those fire hydrants? Fire season ain’t over yet. I guess the ocean won’t catch fire since that’s where all the rain goes. When exposing crimes are treated as a crime you are being governed by criminals

 

[metrotec]

A news clip last week , that did not get a lot of coverage just a couple of news blips.
"Why is gold being moved from UK to New York all of a sudden"?
My thinking is; someone is replacing Fort Knox Gold, the American people can see gold bars being stored as supposed to be. After all, we (USA) were on the gold standard once upon a time.You can't have more paper money in circulation than we have gold stored to back it.
Now we, (USA) is backed by "FIAT" money. In other words, I'll print you some paper and call it an I O U to pay you, backed MY WORD, a promised note, not backed by anything, much less gold.
Fort Knox Gold was bought @ $30 per ounce, now worth $2,949 per ounce... pretty good profit IF it's there.

 

[metrotec]

PS: I hope someone is watching the gates at Fort Know to see if any trucks are "going in and out for President Trump's show, cause He Will get a look and see. I hope it's Our gold.

 

[Red-Coat]

A news clip last week , that did not get a lot of coverage just a couple of news blips.
"Why is gold being moved from UK to New York all of a sudden"?
My thinking is; someone is replacing Fort Knox Gold, the American people can see gold bars being stored as supposed to be. After all, we (USA) were on the gold standard once upon a time.You can't have more paper money in circulation than we have gold stored to back it.
Now we, (USA) is backed by "FIAT" money. In other words, I'll print you some paper and call it an I O U to pay you, backed MY WORD, a promised note, not backed by anything, much less gold.
Fort Knox Gold was bought @ $30 per ounce, now worth $2,949 per ounce... pretty good profit IF it's there.

See post #26, last 2 paragraphs. The gold being moved out of London to New York is not government gold. It's being moved by investment banks who are fearful that Trump may impose tariffs on precious metals, as he has already done for steel and aluminium.

 

[ARC]

10$ in gold coin. How is that defined? 10$ ain't much gold anymore

10$ worth of gold just wore / rubbed off my ring from scrolling the mouse in the time it took me to read this thread.
Scrolling...... heh.
Now there is a word.

Scrollin scrollin scrollin... raw hide.

 

[Red-Coat]

Unless there’s a secret tunnel from the depths of Fort Knox to Oak Island, I wonder just how many people would need to be complicit in a conspiracy to move gold out of the vaults? And whether that number of people would have been able to keep their mouths shut over the years and maintain the pretence that the gold is still there? Each chamber in the vaults is protected both by electronic codes for which no single person has the complete sequences, as well as by tamper-evident seals. It’s not as if someone could just break (and later repair) the seals, bring in a fleet of forklift trucks and wheel the gold out of the vaults into a convoy of armoured cars without suspicions being raised and questions being asked by those not part of the conspiracy. That would include the troops guarding the site among others. Gold has not routinely been transferred to or from the depository for many years, so any such activity would certainly have been perceived as unusual. Seems completely implausible to me.

The gold is in fact already audited yearly on a regular schedule, with the last audit conducted by the U.S. Treasury in September 2024. It’s true however, that these audits could be claimed as the Treasury ‘marking its own homework’ and that they rely largely on checking the official joint seals that were placed on all vault compartments during the more rigorous audits between 1974 until 1986 when 97% of the gold was inspected. It’s also true that the Treasury was unable to fulfil a Freedom of Information request to produce all of the audit records for those years (thus fuelling the conspiracy claims.)

The last audit that could be considered as “full” was in 1953, but a partial audit was conducted in 1974 (including sampling of the gold for purity testing) by a committee of auditors from the U.S. General Accounting Office and the Department of the Treasury, who drew auditors from the Office of the Secretary, the Bureau of Government Financial Operations, the U.S. Customs Service, and the Bureau of the Mint. The Mint also called on a number of its technicians, trained in assaying and weighing gold bullion.

Just exactly what is going to satisfy Musk, given that for the fraud to have been perpetrated in secret, it would have to have involved a sophisticated series cover-ups and deceptions worthy of a David Copperfield stage illusion?

[Interesting factoid: The gold is held by the Treasury as an asset of the United States at a statutory book value of $42.22 per ounce. It doesn’t fluctuate with the market price of gold and has had that constant book value since 1973.]

 

[Gold Maven]

if some vaults are empty, i believe they will have to keep it quiet.

 

[fishstick]

Unless there’s a secret tunnel from the depths of Fort Knox to Oak Island, I wonder just how many people would need to be complicit in a conspiracy to move gold out of the vaults? And whether that number of people would have been able to keep their mouths shut over the years and maintain the pretence that the gold is still there? Each chamber in the vaults is protected both by electronic codes for which no single person has the complete sequences, as well as by tamper-evident seals. It’s not as if someone could just break (and later repair) the seals, bring in a fleet of forklift trucks and wheel the gold out of the vaults into a convoy of armoured cars without suspicions being raised and questions being asked by those not part of the conspiracy. That would include the troops guarding the site among others. Gold has not routinely been transferred to or from the depository for many years, so any such activity would certainly have been perceived as unusual. Seems completely implausible to me.

The gold is in fact already audited yearly on a regular schedule, with the last audit conducted by the U.S. Treasury in September 2024. It’s true however, that these audits could be claimed as the Treasury ‘marking its own homework’ and that they rely largely on checking the official joint seals that were placed on all vault compartments during the more rigorous audits between 1974 until 1986 when 97% of the gold was inspected. It’s also true that the Treasury was unable to fulfil a Freedom of Information request to produce all of the audit records for those years (thus fuelling the conspiracy claims.)

The last audit that could be considered as “full” was in 1953, but a partial audit was conducted in 1974 (including sampling of the gold for purity testing) by a committee of auditors from the U.S. General Accounting Office and the Department of the Treasury, who drew auditors from the Office of the Secretary, the Bureau of Government Financial Operations, the U.S. Customs Service, and the Bureau of the Mint. The Mint also called on a number of its technicians, trained in assaying and weighing gold bullion.

Just exactly what is going to satisfy Musk, given that for the fraud to have been perpetrated in secret, it would have to have involved a sophisticated series cover-ups and deceptions worthy of a David Copperfield stage illusion?

[Interesting factoid: The gold is held by the Treasury as an asset of the United States at a statutory book value of $42.22 per ounce. It doesn’t fluctuate with the market price of gold and has had that constant book value since 1973.]

Good read there Red

But I have a hard time believing the book value hasn't changed in over 50yrs and if so why not if it's an asset.

 

[SD51]

Don't recommend using these guys to attempt to ship Gold...

https://www.bing.com/ck/a?!&&p=9eca958ceeef928e8b6d81d737863726e93853c9abb77a24fda3d277dd1ce40aJmltdHM9MTc0MDE4MjQwMA&ptn=3&ver=2&hsh=4&fclid=26198f24-4361-69d8-1464-9aa942e76868&psq=gold+falls+from+plane+in+russia&u=a1aHR0cHM6Ly9hYmNuZXdzLmdvLmNvbS9JbnRlcm5hdGlvbmFsL3RvbnMtZ29sZC1zaWx2ZXItYmFycy1mYWxsLXNreS1ydXNzaWEvc3Rvcnk_aWQ9NTM3NzIyMTE&ntb=1

 

[newnan man]

Gold is pushing 3K an ounce so no matter what they set as a "book value" for Ft Knox gold it is still worth the current market price.
FDR in the 30's stopped people from being able to trade currency for actual gold. He inflated the price of gold as well basically doubling it's value without adding any more physical gold to the coffers. Good old Nixon took us off the gold standard permanently in 1971 & our currency has been basically a "fiat" currency ever since. So if we are not using gold for backing our dollar, what good is accomplishment by hording it in a vault? Who benefits by it just sitting in there?

 

[SD51]

Guessing you don't want to purchase Gold from these guys..

Big gold fraud busted in China! Gold market spooked by massive counterfeiting scandal

The fake gold bars which were used as collateral is equivaThe fake gold bars are equivalent to 22 per cent of China's annual gold production and 4.2 per cent of the China's gold reserve as of 2019lent to 22 per cent of China's annual gold production and 4

www.businesstoday.in

 

[Red-Coat]

Good read there Red

But I have a hard time believing the book value hasn't changed in over 50yrs and if so why not if it's an asset.

Thanks @fishstick

In 1972 the U.S. announced a devaluation of the dollar by 10% against nearly all of the world's major currencies in an effort to halt a crisis, resulting from investors walking away from the dollar in international monetary markets. Under the rules of the International Monetary Fund, the dollar was devalued by changing the statutory price of gold to $42.22 per Troy ounce, which has remained the fixed book price ever since. That’s less than 2% of the current market price.

The discrepancy arises from specific accounting practices that have their roots in Roosevelt's 1934 Gold Reserve Act when the Federal Reserve was required to hand over all its gold to the U.S. Treasury in exchange for gold certificates at the then-applicable statutory price of $35 per Troy ounce.

The U.S. government continues to use these practices based on outdated valuations for reasons of accounting stability. Adjusting the valuation to market price would significantly inflate the federal government's balance sheet assets, potentially affecting fiscal health indicators and the debt-to-asset ratio. Conversely, maintaining the current book value minimizes volatility in government accounts and helps sustain the credibility of the U.S. dollar in the international financial system.

 

[newnan man]

Thanks @fishstick

In 1972 the U.S. announced a devaluation of the dollar by 10% against nearly all of the world's major currencies in an effort to halt a crisis, resulting from investors walking away from the dollar in international monetary markets. Under the rules of the International Monetary Fund, the dollar was devalued by changing the statutory price of gold to $42.22 per Troy ounce, which has remained the fixed book price ever since. That’s less than 2% of the current market price.

The discrepancy arises from specific accounting practices that have their roots in Roosevelt's 1934 Gold Reserve Act when the Federal Reserve was required to hand over all its gold to the U.S. Treasury in exchange for gold certificates at the then-applicable statutory price of $35 per Troy ounce.

The U.S. government continues to use these practices based on outdated valuations for reasons of accounting stability. Adjusting the valuation to market price would significantly inflate the federal government's balance sheet assets, potentially affecting fiscal health indicators and the debt-to-asset ratio. Conversely, maintaining the current book value minimizes volatility in government accounts and helps sustain the credibility of the U.S. dollar in the international financial system.

I'm trying to understand how pricing gold from $42 per ounce to $3000 could negatively affect the economy. Credibility in the international financial system? How would a 98% increase in our golds value be a bad thing? It could be a hedge against the 36 trillion national debt. If your house was assessed at 400K and then a market correction made it worth 2 million, that would not be negative.

 

[jeff of pa]

if some vaults are empty, i believe they will have to keep it quiet.

I agree ! Even if Nothing there But Regular Dust,
It would undermine the U.S economy and Kept under Wraps

 

[Red-Coat]

I'm trying to understand how pricing gold from $42 per ounce to $3000 could negatively affect the economy. Credibility in the international financial system? How would a 98% increase in our golds value be a bad thing? It could be a hedge against the 36 trillion national debt. If your house was assessed at 400K and then a market correction made it worth 2 million, that would not be negative.

Underestimating the gold's value by using an outdated book price is essentially a strategy to manipulate economic influence and create investor-confidence in the dollar. The book value is closely tied to the broader international financial system, where the U.S. dollar serves as the global reserve currency. The gold reserves are a key component of the dollar’s stability, and revaluing gold to market prices could directly impact confidence in the dollar's strength.

However, the book value has the disadvantage that in times of economic crisis, it limits the government’s policy options. For example, the effectiveness of using gold reserves as collateral during a fiscal emergency would be restricted by the outdated value.

Nevertheless, revaluing America’s gold reserves to market price would create a $760 billion ‘windfall’. Even so, it wouldn’t make much of a dent in America’s national debt, running at $36.49 trillion (growing by roughly $1 trillion every 100 days) and unfunded obligations of around $73.2 trillion.

A full revaluation is unlikely but newly-appointed Treasury Secretary Scott Bessent is known for his pro-gold stance and said on 3rd February that government would "monetize the asset side of the U.S. balance sheet." That is, if he follows through on that statement, he intends to revalue the U.S. gold reserves at a higher price (but not necessarily full market value.)

Proceed with caution! Decisions like this can have wider economic consequences outside the control of the U.S. government.

 

[beepbleep]

Why would anyone undervalue their gold? Gold is power.

 

[Red-Coat]

Why would anyone undervalue their gold? Gold is power.

As I said in post #77, it's a deliberate strategy to manipulate the investment market in America's favour (or at least has been since 1972/3.)

The international financial markets know that, although America's fiscal health is supported on paper by the book value of its gold reserves, there's considerably more actual value in the gold it holds. That's what creates confidence for investors in the dollar and the U.S. economy.

Take that away by revaluation towards market price and investor-confidence decreases, especially in times of economic crises.


[Think of it this way. You go into a pawn shop with a vintage Gibson guitar that you paid $100 for thirty years ago. It’s value has appreciated to $500 at today’s prices. You need money now to buy a drum-kit but your salary check won’t arrive until the end of the month. You still have the original receipt showing what you paid for it, but you both know it’s worth more. The pawn shop owner gives you $250 for the guitar and a ticket to redeem it for $300 within the next six months. He’s happy to give you more than the original cost because he’s confident it’s worth more than that now and he will still make a $50 profit if you buy it back after your salary check arrives, or a $250 profit if you don’t.

That’s pretty much how the investor market works with respect to lending, borrowing, collateral and asset valuation.]

 

[pepperj]

I'm not going to get into it as it violates TNet rules unless discussed in the Charter Member section.

Oh come on, Ron.
It's like walking into a conversation, then throwing a sucker punch.
Then put up the defense "I don't want to fight."

Grow a set, and pony up a few bucks, then come over into the charter member forum.

There throw your cheap shots at the administration.

So typical of some that want to state the opinions, but use the same excuse.