There has not been an honest audit of our country's gold reserves since 1954. A sham audit was staged in 1974 but none of the gold was tested and independent auditors were not allowed. It is generally accepted that the United States is now gold-poor. Why won't anyone in the government answer questions or do an audit, which by our Constitution is required every year? Are most of our officials actually clever thugs, hoping to treat us like mushrooms...that is keep us in the dark and feed us BS?
2007-01-14 15:34:13 · 10 answers · asked by Paul 3 in Politics & Government ➔ Government
Constitution? Are you nuts? there's nothing about money or financial systems in the constitution, other then allowing only congress to regulate it.
Oh, and we went off the Gold Standard in the 70s, much later then most countries. It no longer matters.
2007-01-14 15:41:13 · answer #1 · answered by The Big Box 6 · 2⤊ 0⤋
A popular and recurring conspiracy theory, as alleged by Edward Durrell, Tom Valentine and others, claims that most of the gold in Fort Knox was sent to London in the late 1960s by Lyndon Johnson. In response, on September 23, 1974, Senator Walter Huddleston of Kentucky, eight congressmen, and about one hundred members of the news media toured the Vault and opened various cells and doors, each filled with gold. Radio reporter Bill Evans, when asked if it seemed like the gold might have been moved in just for the visit, replied that "all I can say is that I saw gold there" and that it seemed like it was always there. Additionally, audits of the gold by the General Accounting Office (in cooperation with the United States Mint and the United States Customs Service in 1974 and the Treasury Department from 1975-81 found no discrepancies between the reported and actual amounts of gold at the Depository.Approximately ten percent of the bullion is audited annually to ensure the amount and purity matches official records. The theory continues to persist, however.
2007-01-14 23:43:40 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Gold is no longer the basis for our paper money. The gold in Ft. Knox is just like any other government property and it can be sold. I remember at least two different times in recent years when the government sold off gold.
It used to be that Americans could NOT own gold, the only place you could sell any gold which you found was to the government and the price was fixed. Now it is sold on the market.
The US Mint just announced that it was minting a bunch of gold coins. Where do you think THAT gold came from?
Besides, what does it matter whether we are talking about gold or surplus military property?
2007-01-14 23:43:54 · answer #3 · answered by plezurgui 6 · 1⤊ 0⤋
The world no longer uses the gold standard, so it's not really relevant. Despite the movies that show Fort Knox being robbed, it never happened.
Being "gold poor" for a country no longer has any meaning to the world bank. Besides, we are oil rich, which trumps gold poor.
But yes, too large a percentage of our elected officials are clever thugs. I wouldn't say most.
2007-01-14 23:46:26 · answer #4 · answered by danny_boy_jones 5 · 0⤊ 0⤋
This leads to another question I have.
Direct deposit + Credit cards+Online Bill Bay+Checking Accounts
How much cash is actually used now?
Hardly any. So isn't the whole economy ran off of "credits?" Like at a gaming arcade?
How is this possible?
For example.
I get paid 1500 to direct deposit. I turn around and pay bills online from my checking account.
Credits? Not money?
Explain this to me hunni, please!!!
It almost matches up with your question....
2007-01-16 14:21:59 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Its still there until China and Japan want their money back to help fund the war.And then the big tax increases will come leading to a recession that will make the Depression look like a pea in a snowbank ...lol
2007-01-14 23:48:23 · answer #6 · answered by Anonymous · 0⤊ 1⤋
It's probably all in hock to the Chinese who will soon own this country at the rate we're going. Time to start learning Chinese because we're all going to be speaking it sooner or later, especially if they ever call in what we owe them.
2007-01-15 00:14:48 · answer #7 · answered by Anonymous · 0⤊ 0⤋
It is true, there is no more gold in Fort Knox but you will find an American Express card
2007-01-14 23:41:44 · answer #8 · answered by Anonymous · 1⤊ 1⤋
We should be careful with this administration. They're seeking for easy money and wouldn't surprise a little bit.
2007-01-14 23:41:00 · answer #9 · answered by Javy 7 · 0⤊ 1⤋
Well um dude. No comment.
2007-01-14 23:38:54 · answer #10 · answered by Anonymous · 0⤊ 0⤋