If we have all that gold at Fort Knox, Ky, why can't it be used to help the American people or pay the G.N.D?

Answer 1

Ummmmm Fort Knox have Gold since when is this recent????

Unless your referring when Fort Knox had Gold the last time which was in the late 1960's.

And, if there is any gold left it sure is not enough to help the US Citizens nor pay the G.N.D.

Answer 2

Because it is comepletely unnecessary and may even be a bad thing. Let me explain...

Fort Knox is just one repository (and a small one but just happens to be very famous for some reason) for our nations gold, there are many others all over the country including West Point. In fact, this country possesses more than 80 percent of the world's refined gold supply. And it is all ours. That is the sole reason why we are the king of the world. Yes, the world trade center held the gold of foreign nations (not much), but that didn't work out so well - did it? However, it was all recovered and returned to its rightful owners or placed in our banks for safe keeping.

The reason why we are not in such a big hurry to pay down the GND is simple: It is not a bad thing for the economy. Some economists argue that it is a good thing. Why? Because the federal government goes to the same financial institutions as me and you to borrow money. The government does not owe foreign interests money; they owe the private sector of this country. They owe us or we owe ourselves. So really, it all stays in the family (so to speak).

All in all, this creates a tremendous amount of "cash flow" which is a key economic indicator that determines the GDP. Trust me, the Government knows exactly what it is doing when it comes to this country's finances. A capitalist society is deadly serious about its cash (or "capital"). The proof is that this is the most prosperous time that the world has ever seen, and we lead the way. Look up the stats - its fact!

Just remember, the financial rules and principals that apply to running a household dont work when running a country. That is why there are so many critics - because they just dont understand the complexity and magnitude of the matter. As for why we dont use the gold to "help the American people", well, maybe some people should learn to run the finances of their households more efficiently. Otherwise, all is well my friend.

Answer 3

in accordance to the U. S. branch of the treasury comments about the U.S. mint, the present holdings of gold at fort Knox are 147.3 million oz. at $40 2.22 per ounce e book fee. it really is saved interior this style of 368,000 gold bars of four hundred troy oz. or 27.5 kilos of weight. In 1941, there have been 649.6 million oz. there, which grow to be adequate to make 20 Statues of Liberty out of of organic gold. that is likewise reported that no gold has been moved from the ability except small quantities for purity assessments throughout the time of scheduled audits. and there is an decision answer, a conspiracy idea that states that the gold from fort Knox grow to be secretly bought and despatched to London via president Lyndon Johnson in 1967 and 1968 to save the prices of gold solid. It has also been pronounced that in 1970's less than one thousand a great deal remained, yet there has been no audit of this gold reserve on account that 1950 and no concrete motives for why not.

Answer 4

Because the gold you are talking about belongs to foreign nations, and is there only for storage.

Answer 5

Life is not simple and free.