Are our gold reserves still being held at Fort Knox?

Question

while watching Aaron Russo's video "America: Freedom to Fascism" the issue of not knowing where our gold reserves are was brought up The person being interviewed stated there had not been an audit in quite awhile This gold is what backs up our monetary system The dollar is now only worth .04 cents It is no wonder that is why the rest of the world is dumping the dollar for the euro Our dollar is worthless We are on our way to being a third world country

Answer 1

As stated we went off the Gold Standard I presume before you were born. Strategic gold reverves are held not just at Ft Knox they are distrubuted all over the country.

Answer 2

Yr gold reserves are at Fort Knox. But they are just a cover for your currency. They are not traded in international trade or for financing imports to be more specific.
Now, the recent decline of the dollar vis-a-vis the euro is not a 'never before phenomenon'. The same happened when Japan staged a come back via its economic miracle and yen became a very strong currency vis-a-vis dollar.
US dollar became an intervention currency and then later the primary currency for valuation and currency baskets owing to the fundamental strength imparted to it by strong payments positions. And trade deficits manifestly had not much of an effect. To be able to preserve its strrength on global bourses, US need not be oblivious of its past monetary annals. However, one need not be overly pessimistic though the concern is not misplaced indeed.

Answer 3

First of all,the U.S. went off the gold standard a long time ago so put your mind at ease.I would suggest you not pay so much attention to blatant propaganda.This Russo fella was obviously counting on his viewers lack of knowledge to pass of this nonsense as fact..04 cents compared to what?A Euro?That's not even close.

See here for some real facts http://www.marketwatch.com/news/story/dollar-touches-two-week-high-against/story.aspx?guid=%7B9AA42A6E-D074-4766-982C-CE51A0B6EEA1%7D

Answer 4

My uncle was the head accountant for Fort Knox...they don't keep gold there.

Answer 5

congress was given a tour not too long ago and they brought one gold bar out of the vault and showed it to them and said "see, it's here". Hahahahahaha... they were allowed to see one gold bar.

Answer 6

if we're really lucky...