Fort Knox, is there really gold there

[fishstick]

I guess I'm confused

If it's not there it harms us?
If we change the value it harms us?

It's as if it's (carry on nothing to see here)?

I just can't imagine raising the value just a bit would do more harm than good. But hey I'm pretty slow at times tho.

 

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[chub]

What would it physically look like in Fort Knox? How many bars? Of what size? How much value would a cubic yard of gold be worth?

 

[chub]

If the gold were stacked in cubic yards, how many cubic yards would there be?

 

[fishstick]

What would it physically look like in Fort Knox? How many bars? Of what size? How much value would a cubic yard of gold be worth?

Obviously $42 an ounce, to the US government at least

 

[newnan man]

It's hard to imagine that the stash of gold in Ft.Know has been basically sitting there unused, undervalued, and out of sight for a century. Another stupid government decision.

 

[Red-Coat]

What would it physically look like in Fort Knox? How many bars? Of what size? How much value would a cubic yard of gold be worth?

If the gold were stacked in cubic yards, how many cubic yards would there be?

For the 4,583 tons of gold held at Fort Knox (not the total reserves), the volume would be approximately 7,600 cubic feet or 281 cubic yards. Not all of the gold is in bars of the same size/weight or to the same purity, so the total volume at Fort Knox if it were in a single stack would probably be a little higher.

You can do your own maths on what a cubic yard of pure gold would be worth from those figures and current market price.

 

[Red-Coat]

I guess I'm confused

If it's not there it harms us?
If we change the value it harms us?

It's as if it's (carry on nothing to see here)?

I just can't imagine raising the value just a bit would do more harm than good. But hey I'm pretty slow at times tho.

Two different scenarios.

Revaluing the gold does not require it to be sold. It simply changes the book value for accounting purposes, and removes some or all of the additional 'hidden' value beyond the declared value to external investors. The hidden value is the 'safety net' that gives investors confidence in fiscal strength of the economy.

If the gold isn't there because it has been sold, that's far worse. The safety net it provided is no longer there and a short-term one-off gain has already been made, with the money used to reduce national debt or spent for an undisclosed purpose, yielding an unknown economic benefit.

Also worth mentioning that if it had been sold on the open market, that couldn't have gone unnoticed. It would have be now stored in a private facility or in a country that doesn't openly declare its gold reserves.

 

[jd5105]

This is just generated drama, of course it is there.

I would not be surprised if all the gold is gone, having been dispensed to Viet Nam for war reparations, Arab countries for oil deals and "peace' initiatives,USAID payola, and last but not least good old China and Ukraine.

 

[beepbleep]

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.]

So I tell him it's only worth $100. No way.

 

[AZ Gold Hunter]

Trump should televise it all live and get this dude to present it to America View attachment 2194438

Living in Chicago during this time I remember being glued to our family television watching this sh%t show.

 

[49er12]

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.]

Just time to audit it again, so dam simple, a rather significant thing in there called gold, upmost importance to a lot of countries. Look just clarifying it is a simple task , unbelievable complaints about something so big yet so simple, we can move on. Truth needs to be told so dam simple

 

[Red-Coat]

So I tell him it's only worth $100. No way.

Not what I said at all. Which part of "you both know it's worth more" did you not understand?

 

[Red-Coat]

Just time to audit it again, so dam simple, a rather significant thing in there called gold, upmost importance to a lot of countries. Look just clarifying it is a simple task , unbelievable complaints about something so big yet so simple, we can move on. Truth needs to be told so dam simple

Not a simple task at all if Musk wants full verification. As I said, audits are scheduled once a year already, but the standard audits are apparently insufficient to satisfy his whims. What exactly he wants is unclear but the previous full audit in 1953 was a complex process all the way down to assaying of samples from the bars.

 

[49er12]

Obviously not aloud I’m certain, there’s equipment used LiDAR to be specific can used to detect colors in the ground seeking targets in the ground, even drones use them, hey if there’s a significant amount of gold there I can assure you it will light up in a color, in short it will tell you something of large size is there, but not aloud to fly a drone over

 

[49er12]

Not a simple task at all if Musk wants full verification. As I said, audits are scheduled once a year already, but the standard audits are apparently insufficient to satisfy his whims. What exactly he wants is unclear but the previous full audit in 1953 was a complex process all the way down to assaying of samples from the bars.

My friend, confirm, just confirm, he will tell them set a date and time go in with whomever and confirm, this isn’t rocket science. What’s the big deal it’s Americans biggest deposit of gold or silver or something, this is so childish, the people deserve to know it’s there, what’s to hide.

 

[ConceptualizedNetherlandr]

Keeping a consistent valuation saves a ton of monkey biz to keep adjusting everything in the nations financials at the whim of markets. That cost to the gov and the world of biz far outweighs any possible advantage gained by upping the value. And then what happens if the price takes a big dump?

Similarly not transacting ANYTHING stashed in Knox saves having to keep track of all sorts of things and providing security for events let alone gov bureaucracy around it. What would be the point of it?

We already have fluid gold accounts at the mints and elsewhere. No need for the big pile to be at play. Shut the door. Leave it shut. When reopened it will be just as you left it. Only documentation required is that the door has remained sealed.

This is more like a safely deposit box than a bank account. Conspiracy theorists strike again.

 

[49er12]

Big pile, little pile, it all needs to be accounted for,I don’t care if it’s on the moon, mats or in your basement, pointis the public needs to know, don’t need to keep going around about it, do you want your expenses and savings accounted for, well get the big heaping pile accounted for and move on , case closed.

 

[49er12]

The government likes obedience and stupid people it’s easier to fool or simply consider them ignorant and they continue there nonsense, like George Carlin once said look it up been dead for years but very true statements.

 

[ConceptualizedNetherlandr]

And next, we will need to prove that water is wet to debunk the dry dihydrogen monoxide theory. Has there ever been any evidence that the gold left?

 

[Red-Coat]

Has there ever been any evidence that the gold left?

Nope. Conspiracy theorists don't need evidence, and when confronted with it, remain in denial.