2006-07-22 06:13:20 · 10 answers · asked by the_one_khmai 2 in Politics & Government ➔ Other - Politics & Government
Fort Knox Gold Facts
The gold stored in the Depository is in the form of bars of almost pure gold or coin gold bars resulting from the melting of gold coins. These bars are slightly smaller than an ordinary building brick. The approximate dimensions are 7” x 3-5/8” x 1-3/4” and contain approximately 400 troy ounces of gold. Each bar weighs about 27-1/2 pounds and is worth approximately $17,000. Great care must be taken when handling the bars to avoid abrasion of the soft metal.
The present gold holdings at the Fort Knox Gold Bullion Depository amount to approximately 147.3 million ounces worth more than 6 Trillion Dollars! Except for small samples removed to test its purity, no gold has been transferred to or from the Depository for many years. The highest gold holdings were 649.6 million ounces, on December 31, 1941.
2006-07-22 06:38:42 · answer #1 · answered by tough as hell 3 · 1⤊ 0⤋
I believe quite a lot, but mostly Gold if not all of it. Here's a fact I was told once, not sure if true or not but all the gold ever harvested in the entire history of the world would fit into a room 90 feet by 90 feet solid. My numbers may be a bit off but it still does not seem like a lot. I'd think Fort Knox is a bit bigger than that so maybe they hold other stuff too.
2006-07-22 06:19:57 · answer #2 · answered by searing 3 · 1⤊ 0⤋
>>>Ironically every president that has tried to "reign in the fed" since its creation has undergone an assasination attempt. This includes Lincoln and Kennedy.<<<
Nice. The fed wasn't even created for a hundred years after Lincoln.
The fed was created to police banks. Banks have been here since the beginning of our country. Before the fed, banks were allowed to loan out more money than they had, fueling inflation and leading to economic disasters such as the Great Depression. Had the fed been around in the 30's, there would have been no Great Depression.
As pointed out, there is no money in Fort Knox. What is in Fort Knox is everything of value the U.S. bases it's wealth off of, gold, silver and all it's other holdings.
The value of these holdings is dependent on the strength of the U.S. economy, specifically our gross national product (the nations "net worth") which effects our credit with other countries which is in the end what our country is really worth. Things of value such as gold and printed money are only worth what people will give you for them. As long as our economy continues to grow, our credit remains strong and the value of gold and the rest of our holdings will continue to rise. As we drive the value of gold, all other economies in the world that are significantly driven by the value of gold will prosper. This is why it is completely ridiculous to think some country like Russia or China would ever do anything to damage the U.S. economy. They're financial well being depends not only on the gold market, but the performance of the T-bills, real estate and corporations they have in the U.S. While everyone wants leverage against our economy, none want it to fail because it will drag the rest of the industrialized world down with it.
Essentially, the value of everything in Fort Knox is near the value of the U.S. gross national product, because that drives the value of everything in Fort Knox.
2006-07-22 06:44:08 · answer #3 · answered by soontobeit 2 · 0⤊ 0⤋
That reminds me of the James Bond movie Goldfinger. An evil villian plotted to steal all the gold in Fort Knox. What was stupid about that was, there is no way he could ever convert that gold to cash without getting arrested.
2006-07-22 06:20:33 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Nobody knows except the central bankers. You see back in 1913 we turned all control of our monetary system over to the richest people in the world by creating the Federal Reserve. Truman, the president who signed the Federal Reserve Act, lamented the decision on his deathbed saying he was duped into ruining his country's government. Andrew Jackson fought fiercly against central banking his whole political career (there was an attempt made on his life by the central bankers) and he put that fight on his tombstone as his greatest accomplishment. Ironically every president that has tried to "reign in the fed" since its creation has undergone an assasination attempt. This includes Lincoln and Kennedy.
So to answer your question, I don't think there is even that much gold left because a group of the richest people in the world has had control of it for the last 100 years and haven't had to account for any of it.
2006-07-22 06:30:41 · answer #5 · answered by Jared H 3 · 0⤊ 0⤋
It is where the gold reserves of the US are stored. So, there really is no "money" there. The gold is a guarantee for the reserve notes, "dollar bills", that are issued by the government.
2006-07-22 06:20:53 · answer #6 · answered by Dave B 4 · 0⤊ 0⤋
No money , Alot of gold bars.
2006-07-22 06:21:01 · answer #7 · answered by sillywilly 1 · 0⤊ 0⤋
$1.95 cents I think, wait let me count it. Yup $1.95 cents. Cool
2006-07-22 06:20:07 · answer #8 · answered by Rusty 2 · 0⤊ 0⤋
None its all Gold...
2006-07-22 06:16:07 · answer #9 · answered by ralphtheartist 3 · 0⤊ 0⤋
Does not matter It is not mine
2006-07-22 06:31:53 · answer #10 · answered by Julio L 1 · 0⤊ 0⤋