For historical reasons the US government owns an enormous buttload of gold bricks in Fort Knox. Why? It doesn't back up the currency anymore. What purpose does it serve? Why don't we just sell it? If it all disappeared tomorrow it wouldn't make a bit of real difference in the economy or in anyone's life. What's the point? Is is just hoarded to avoid flooding the gold market and tanking the price of gold?
2007-02-04 15:10:18 · 5 answers · asked by KevinStud99 6 in Social Science ➔ Economics
They are holding it for the crab people, waiting for their return to the planet earth so they can reclaim what is rightfully theirs.
2007-02-04 15:18:41 · answer #1 · answered by ? 2 · 0⤊ 1⤋
good question! i don't know the answer. so i'll just pose another question. if the country is in a deficit, why aren't we selling this gold to get out of debt?
2007-02-04 18:24:10 · answer #2 · answered by smokesha 3 · 0⤊ 0⤋
It makes us look rich. We're so rich, that we have tons on gold, that we don't even touch.
2007-02-04 15:13:37 · answer #3 · answered by Donovan G 5 · 0⤊ 0⤋
May be its for emergency or something.
2007-02-04 16:10:44 · answer #4 · answered by Anonymous · 0⤊ 0⤋
its for bragging rights
2007-02-04 15:13:00 · answer #5 · answered by Tim 3 · 1⤊ 0⤋