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SPDR Gold Shares Message Board

  • macrocosmonaut macrocosmonaut Sep 1, 2010 4:06 PM Flag

    Fort Knox is empty - USA is bankrupt

    US-Dollar is toilet paper - worthless.

    No invention of Fort Knox since 50 years and toilet paper of a private bank (=FED).

    John F. Kennedy was killed after he tried to abolish FED worthless paper money.

    The US-System is corrupt. Fort Knox is the biggest show of the US since decade - a Fort without Gold - worthless money in all kind in the US.

    Do your own due dilligence.

    M.

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    • There are some paid bashers here on the board - trying to fool the people - like the government of the USA is doing.

      Printing worthless paper and toilet dollars.

      Fiatmoney will be worthless - and China will buy all the Gold of you.

      IMO.

      M.

    • The war in Afghanistan is a war for Gold, Lithium and rare earth.

      The USA has no gold anymore - but they need new gold, because Fort Knox is presumably already empty since the late 60´ies.

      They sold the Gold of the US citizien to the billionaires.

      M.

    • When the USA has no gold anymore, because it was sold to the big boys the USA is even bankrupt.

      Papermoney is worthless toilet paper.

      Greetings.

      M.

    • I've stated this before: you only back the monetary base with gold and precious metals. It does not factor into Federal budgets.

      As a thought experiment, suppose the US has a monetary base of $2 trillion, that is there are 2 trillion $1 bills, or equivalent higher denominations. Say the US had 50,000 tons of gold, then every dollar bill could be REPLACED with a gold certificate, at a gold price of $1300 per ounce.

      That doesn't change anything. The government still owes the same amount, and borrows the same amount. Backing the dollar with gold does not make the gold available to spend. It just makes the dollar supply inflexible.

      Bankruptcy does not result from a lack of monetary backing. It results from fiscal irresponsible budgets.

      No new money is created by the change to a gold standard. Comparing the gold in Fort Knox to the Federal budget is only useful, if you plan on selling it, and using the money to pay for the budget.

      For calculation purposes, the US could transparently back the monetary base, at a gold price of about $4000, ASSUMING the US has about 9 to 10,000 tons of gold. A lower price might be used, if you limit the exchange/redemption. Then the gold becomes a functional marginal reserve.

    • The USA has Gold - and why is there no inspection of Fort Knox since many decades.

      Simple - sold out to billionaires - like Silver

    • For all you know the bars of metal backing GLD could be pig iron painted yellow.

    • USA is playing catchup to re-stock the empty spaces...and so is the rest of the world, not only in anticipation, but in knowledge, that paper the financial ponzi schemes...are becoming rapidly exposed.

      Weak dollar...is a REALITY...WEAKER dollar is an even greater reality.

      GOLD and SILVER will continue to, and is being orchestrated to move a lot HIGHER.

    • I don´t think that at Fort Knox is any kind of gold.

      They sold it to the big guys.

      Fort Knox is empty. Ask yourself why they never has controlled the gold since Theodore Roosevelt.

      M.

    • Even if fort knox is empty it was only purported to hold up to 500 billion in bullion as of 2008ish? So that would cover 2 months of a years budget. The dollar is backed by the US military and that is all.

    • The USA trust in God - but God will not rescue the US financial system.

      M.

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