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Thread: Swiss Institutions Ask: Where's the Gold?

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    Swiss Institutions Ask: Where's the Gold?

    Daily Bell

    "He who owns the gold makes the rules." – An old adage

    Have you ever wondered what would happen if most of the claimed US gold reserves do not really exist? Can Washington continue to operate under its own questionable and often non-existent accounting rules if it doesn't have the gold reserves as promised? Should we worry about the old idiom, "When the chickens come home to roost" when a person, entity or a government pays dearly for a mistake or something bad they have done in the distant past?

    Well, the gold has to be somewhere but what if it is in France, Germany and Switzerland rather than in Fort Knox? The price of gold probably wouldn't change much except in dollars which would likely dramatically fall in value as would US Treasury obligations. While the monetary elites and their central banks might prefer to keep the question under wraps, American citizens and foreign holders of dollars and US debt deserve the same full disclosure and transparency as required in the private sector.

    Congressman Ron Paul Questions Whether There's Gold at Fort Knox and the NY Fed

    Quoting from The Hill website, "Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it's "a possibility" that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank."

    Is Washington Still # 1 In Gold Reserves?

    Most of the 8,965 tons of gold is supposed to be at Fort Knox and valued at over $350 billion dollars but is this still true today? First the gold hasn't really been audited since the Eisenhower Administration. Although a spokesman for the US Treasury recently stated US gold holdings are audited every year by the Treasury's Office of Inspector General, I fear this is more like the internal audits of Fannie Mae or the supposed audits of Madoff, AIG and Enron.

    The Swiss well remember the calls for an audit of Fort Knox made after the 1974 Nixon impeachment following the 1971 Nixon Shock. This action unilaterally closed the gold window and ripped off the nation of Switzerland but the "fake audit" was little more than a photo opportunity designed for home consumption in the United States.

    Will the Nixon Shock of August 15, 1971 Be Followed By An Obama Event?

    Why should Switzerland and other nations or investors trust the US Treasury? There are ominous parallels between 1971 and today and this is why I support Ron Paul's call to audit the gold at Fort Knox in 2011. In 1971 the costs, deficits and debts of the Vietnam War were worrying foreign nations just like the deficits and overhanging national debt today threaten the dollar and Treasury obligations. Therefore many nations including Switzerland and France began demanding that Washington redeem their dollars for gold as required by the Bretton Woods agreement. Switzerland had redeemed $50 million in paper dollars for gold in July but was stuck with the rest when Nixon arbitrarily and without warning "closed the gold window," ending convertibility between US dollars and gold on August 15, 1971.

    I fear that much of Washington's gold reserves were lost back in 1971 prior to the Nixon emergency closure of the gold window and was the reason for the sudden, secret announcement sprung on investors and nations without even consulting other members of the international monetary system. In addition, the world's central banks have kept very quiet when questions arise about whether the Federal Reserve has used the remnants of the US gold reserves through international swap agreements to keep gold prices artificially low and to hold up the dollar earlier in this decade.

    Why Trust Washington?

    The US Treasury claims to have the gold bullion reserves but why should we believe them? Since the government stretches the truth about almost everything else today, I seriously wonder if they are giving us the true condition about Washington's gold ownership.

    A recent poll has shown that 80% of the American people don't trust their government and when you add the 22 million government employees and their families, one could say zero percent of productive Americans in the private sector trust the government. So why should global investors have any more confidence or faith in Washington than the American people?

    Just think back over the last few years. From the wars in Iraq and Afghanistan, to the real estate bubble and collapse, the Wall Street meltdown, the Gulf oil spill, the recession that wasn't expected, the recovery that never happened, promised change with Obama, the bailouts from both political parties etc. Can you think of one political promise kept or one true statement out of Washington, the Federal Reserve or Treasury? Therefore why should American citizens, foreign nations or international investors believe for a moment the US has the gold reserves claimed?

    Here in Switzerland at Appenzeller Business Press AG publisher of "The Daily Bell" and "Freedom Matters" we believe American citizens certainly deserve a full and complete outside audit of "claimed" United States gold reserves during these trying economic times.

    The same can be said in even stronger terms for international investors, central bankers and sovereign funds that have purchased trillions in US treasury obligations. Those who still use the dollar as their currency of choice in business transactions and as a safe haven in times of crisis on the world financial stage need to do their due diligence concerning the US gold holdings out of responsibility to their investors and citizens.

    Foreign investors are rightly concerned about accountability and openness about supposed assets when there has been no real audit for decades. Certainly, an audit is required following the regulatory breakdown and oversight of the American financial system and the misplaced trust in institutions like Fannie Mae and Freddie Mac and the Fed which led the world to the brink of another 1930's style collapse. A gold audit is only prudent due diligence and this should be welcomed in order to help restore confidence in the US. It is time to bring down the wall of secrecy and restore confidence and accountability to the US balance sheet. Therefore I endorse Congressman Ron Paul's initiative to audit the American gold reserves.

    (...)
    Rest at the above link.
    The sense of honor is of so fine and delicate a nature that
    it is only to be met with in minds which are naturally noble or
    cultivated by good examples and a refined education.
    - Sir Richard Steele

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    Ron Paul and Ft. Knox Gold

    Ron Paul is blithering idiot and this current Media Issue Launch is nothing more than an attempt to increase his media coverage and Name Recognition during the upcoming Mid-term elections and so save his job. He's got a major fight on his hands with extreme right wing opposition.

    As for "Gold" it no longer matters (except to individual investors). Currency value is now based on exchange rates, not the value or quantity of National Gold reserves. Unless of course you wish to wreck the World Economy and enrich your own by reinstituting a "Gold Standard".

    "As for Business, Commerce, Industry and Agricultural world wide, the cry was and is, "You will not crucify us upon a Cross of Gold".

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    Even if the Gold is still in Fort Knox it would 'only' amount to around 100 billion US dollar. Given the amounts which are thrown around for the deficit that goes into the trillions.

    The gold may only cover the cash money which is around but by far wouldn't cover the money which is book money on bank accounts.


    It is good to know where it is because the collaps of the worlds leading currency is not far away. All schemes are exhausted, the pants are down, the crash evident.
    weel nich will dieken dej mot wieken

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    I suspect the US government has sold off its gold reserves, along with most other assets, as it frantically tries to stay afloat. Our idiot Chancellor (Gordon Brown) did the same for a quick fix a few years back but he only got $200 an ounce for it and look at its value now!

    You say gold doesn't matter, Wittwer, but you sound like you've just bought into the fiat currency myth and haven't yet realised that this money doesn't exist. Either that or someone of limited historical perspective who's always been used to the dollar hegemony and is now entering the "denial" phase. The Bretton Woods agreement created short-term prosperity (especially for the USA) and enabled you to finance all those illegal wars while the “clever” Jewish manipulators lined their pockets but it’s lasted what? … 40 years? That’s the blink of an eye in historic terms, whereas gold has been a store of value for millennia and it might just be a good idea to have some now that the bill is due!

    I'm sorry but it's no good sounding off against Ron Paul in your desperation either, just because he wants to do things like audit the Fed and find out if there's actually any gold left at Fort Knox. He's merely trying to establish what the financial REALITY is, and why would anyone be opposed to this unless they were unable to face up to it and felt more comfortable living with the illusion?

  6. #6
    Its not even Gold anyway, thats allready been stolen, its gold plated tungstun.

    http://www.youtube.com/watch?v=R0EIv...layer_embedded

    Dont be shocked or suprised though, if you keep voting for criminals and Satanists to run your countries, you have to expect this sort of thing.

    As for Gordon Brown, whilst he might look like an idiot, hes not, just a traitor who works for the Jewish Bankers who select our voting choices for us, soon in the UK we will have the choice to vote for the Labour party which will be run by a Jew of the Milliband brothers, or the Conservatives lead by a decendant of Moses, http://www.timesonline.co.uk/tol/new...cle6677414.ece

    All presided over by a Jewish Speaker.

    Heres Brown shaking the hand of the Governor of the Bank of England
    http://www.youtube.com/watch?v=aiHnLBnogok

    I wonder who he sold our Gold so cheaply too?, somebodies made a lot of money in advance of the planned financial collapse, maybe thats why they made him Prime Minister as a reward for his treason?

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    I don't think the gold is there, and if so it is not worth the amount of debt owed.

    wittwer does make a good point though about Business, Commerce, Industry and Agricultural a point to think on.

    Also keep in mind that the U.S. not only owes debt to other nations, they are also owed debt by other nations.

    This is the problem with a fiat system.
    Life is like a fire hydrant- sometimes you help people put out their fires, but most of the time you just get peed on by every dog in the neighborhood.

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    Even if the gold is not there, America could still go to a gold standard. Most of the world's gold is privately owned, Americans having a great share of it. If America went to a gold standard, gold would be deposited in banks just like money. The gold accounts just wouldn't belong to the government.

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    Quote Originally Posted by Æmeric View Post
    America went to a gold standard, gold would be deposited in banks just like money. The gold accounts just wouldn't belong to the government.
    If it went back to a gold standard it would more likely be that they do it Roosevelt style be confiscation private gold supplies to rebuild the gold reserves to a level necessary to make it happen.
    The sense of honor is of so fine and delicate a nature that
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    What Roosevelt did was the reverse, he took us off the gold standard & confiscated the gold. There was a modified gold standard from the end of WWII to 1972 but only central banks could redeem their US dollars for gold. Unless gold can be freely held (as it was before 1933) there is no way a true gold standard can function.

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