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Is there any gold inside Fort Knox, the world's most secure vault?
Is there any gold inside Fort Knox, the world's most secure vault?|
Times Online (UK) ^ | March 28, 2009 |
For several prominent investors and at least one senior US congressman it is not the security of the facility in Kentucky that is a cause of concern: it is the matter of how much gold remains stored there - and who owns it.
They are worried that no independent auditors appear to have had access to the reported $137 billion (£96 billion) stockpile of brick-shaped gold bars in Fort Knox since the era of President Eisenhower. After the risky trading activities at supposedly safe institutions such as AIG they want to be reassured that the gold reserves are still the exclusive property of the US and have not been used to fund risky transactions. ...
“It has been several decades since the gold in Fort Knox was independently audited or properly accounted for,” said Ron Paul, the Texas Congressman and former Republican presidential candidate, in an e-mail interview with The Times. “The American people deserve to know the truth.”
Is there ANY gold in Fort Knox?
Dr Ron Paul
In 1933 new President Franklin D. Roosevelt signed a bill forcing all the American people, to hand over all their gold at base rate. With the exception of rare coins. He disowned himself from the bill claiming to not have read it and his secretary of the treasury claimed this was "what the experts wanted".
Bought at bargain basement price with money produced from nothing by the Federal Reserve, the gold was melted down and stacked in the newly built bullion depository called Fort Knox. Once collected in 1935 the price of gold was raised from $20.66 up to $35 per ounce, but only non American gold qualified to be sold. This meant those who had avoided the crash by investing in gold they had shipped to London could now nearly double their money while the rest of America starved.
But that's not all folks. By the end of WWII Fort Knox did hold 70% of the world's gold, but over the years it was sold off to the European money changers while a public audit of Fort Knox reserves was repeatedly denied.
Rumours spread about missing gold.
"Allegations of missing gold from our Fort Knox vaults are being widely discussed in European circles. But what is puzzling is that the Administration is not hastening to demonstrate conclusively that there is no cause for concern over our gold treasure - if indeed it is in a position to do so."
Finally in 1981 President Ronald Reagan was convinced to have a look into Fort Knox with a view to re-introducing the Gold Standard. He appointed a group called The Gold Commission. They found that the US Treasury owned no gold at all.
All the Fort Knox gold remaining is now being held as collateral by the Federal Reserve against the national debt. Using credits made from nothing. The Fed had robbed the largest treasure of gold on earth.
Now people, all through the last 50 years there have been allegations and we have heard that OUR, as in "WE, the people's" gold is NOT in Fort Knox. Here is another link
I know this issue has come up before but, with Saudi Arabia, China, and Iran recently (within the last three weeks) purchasing thousands of tonnes and billions of dollars in gold, I thought the time might be ripe for another discussion.
Mr Paul has so far attracted 21 co-sponsors for a Bill to conduct an independent audit of the Federal Reserve System - including its claims to Fort Knox gold...
... Many gold investors suspect that the US has periodically attempted to flood the market with Fort Knox gold to keep prices low and the dollar high - perhaps through international swap agreements with other central banks - but facts remain scarce and the US Treasury denies that any such meddling has gone on for at least the past decade. ...
WHO'S GOT THE GOLD?
Was Fort Knox robbed of thousands of tons of gold?
This incredible story focuses on some 165.1 million ounces of gold which the United States allegedly lost between 1961 and 1971.
In a London Sunday Express article, which appeared on December 13, 1981, the writer quoted Dr. Peter Beter who believes the theft occurred in the late 1960s when the United States, a leading member of the London Gold Pool agreement, transferred 233.4 million ounces from Fort Knox to the Federal Reserve Bank in New York and London's Bank of England. Dr.. Beter was a financial adviser to the late President John Kennedy and a legal adviser to the American Gold Association and the American Export-Import Bank, according to the report.
According to the article, 23.1 million ounces were accounted for at the Federal Reserve Bank while another 45.2 million ounces arrived safely in England. The destination of the remaining 165.1 million ounces is unknown and Dr. Beter states that attempts to learn what happened have been "stonewalled" by treasury officials.
Jerry Nisenson, Deputy Director of Gold Market Activities at the Treasury Department, said: "We have investigated the claims of Dr. Beter and his supporters and we contend that the gold was not stolen. There is no cover-up. They have misinterpreted our books. The gold was being refined into better quality gold and those ounces just went up the chimney."
Edward Durell, identified as an Ohio industrialist, sheep farmer, and active Republican, supported Dr. Beter's claims, saying he believes the gold was shipped abroad, probably "to the Bank of England, and from there to an unknown destination."
The possibility of irregularities at the U.S. Assay Office in New York, through which all the gold was shipped, was noted in a brief item in Money, in January, 1980: "Loser: The Treasury Department, which reported $1 million in gold missing from the U.S. Assay Office in New York in 1978. The department said the federal investigators 'just could not tell what happened'."
The "missing gold" issue has been a hot one in America's conservative press but not widely publicized elsewhere. The apparent failure of the U.S. government to either prove that the gold is not missing or to explain what happened to it qualifies this for nomination as a "best censored" story of 1981.
London Sunday Express,