Two Scenarios For Next Precious Metals Rally (Part I)
News sez "...China knows that Fort Knox contains no gold."
Where do you find info on Ft Knox gold? Ron Paul has been trying for years to get an official audit. This is of greater concern since the 2008 discovery of tungsten covered gold bars in international circulation.
Questions: How much pure gold does the US have secured, and how much of that does US have clear title to?
Ron Paul already grilled the Tresury/Fed on the availability of gold anywhere--there's nothing but pretty receipts dated around 1933.
By the time joesixpac figures out there isn't any gold anywhere, except, and this is a laugh, European gold held here for "safety" purposes, for which we'll glad turn over US worthless toilet paper.
FYI, the amount of gold that would have been held, worth in paper dollars, is about $100 Billion. It wouldn't amount to a tit on the boarhog compared to all our current debt. It's 140/th of the debt, less than half percent, well under the minimum sci fi requirement of 6% under the worst of the eggregious core holdings one should have against debt, about 1000X less the individual requirement in cash to own a foreclosed house.
You wonder why the world is going its own way without our "reserve" currency? I wonder why they even talk to us at all.
It is no longer our reserve currency. It is the bankers reserve currency. We are no longer a free nation. The US is owned and controlled by the bankers of the world. The bankers manipulated Bush into the Iraq War to weaken the US so they could get control.
It's one thing to counterfeit a twenty or hundred dollar bill. The amount of financial damage is usually limited to a specific region and only affects dozens of people and thousands of dollars. Secret Service agents quickly notify the banks on how to recognize these phony bills and retail outlets usually have procedures in place (such as special pens to test the paper) to stop their proliferation.
But what about gold? This is the most sacred of all commodities because it is thought to be the most trusted, reliable and valuable means of saving wealth.
A recent discovery -- in October of 2009 -- has been suppressed by the main stream media but has been circulating among the "big money" brokers and financial kingpins and is just now being revealed to the public. It involves the gold in Fort Knox -- the US Treasury gold -- that is the equity of our national wealth. In short, millions (with an "m") of gold bars are fake!
Who did this? Apparently our own government.
In October of 2009 the Chinese received a shipment of gold bars. Gold is regularly exchanges between countries to pay debts and to settle the so-called balance of trade. Most gold is exchanged and stored in vaults under the supervision of a special organization based in London, the London Bullion Market Association (or LBMA). When the shipment was received, the Chinese government asked that special tests be performed to guarantee the purity and weight of the gold bars. In this test, four small holed are drilled into the gold bars and the metal is then analyzed.
Officials were shocked to learn that the bars were fake. They contained cores of tungsten with only a outer coating of real gold. What's more, these gold bars, containing serial numbers for tracking, originated in the US and had been stored in Fort Knox for years. There were reportedly between 5,600 to 5,700 bars, weighing 400 oz. each, in the shipment!
At first many gold experts assumed the fake gold originated in China, the world's best knock-off producers. The Chinese were quick to investigate and issued a statement that implicated the US in the scheme.
What the Chinese uncovered:
Roughly 15 years ago -- during the Clinton Administration [think Robert Rubin, Sir Alan Greenspan and Lawrence Summers] -- between 1.3 and 1.5 million 400 oz tungsten blanks were allegedly manufactured by a very high-end, sophisticated refiner in the USA [more than 16 Thousand metric tonnes]. Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day.
According to the Chinese investigation, the balance of this 1.3 million to 1.5 million 400 oz tungsten cache was also gold plated and then allegedly "sold" into the international market. Apparently, the global market is literally "stuffed full of 400 oz salted bars". Perhaps as much as 600-billion dollars worth.
An obscure news item originally published in the N.Y. Post [written by Jennifer Anderson] in late Jan. 04 perhaps makes sense now.
From me: This is why the Chinese believe that there is no real gold in Fort Knox. When members of Congress like Paul ask for an exam ( and it could as simple as a random exam on a few selected bars), or a complete audit like Paul wants and are told no, then ????