Mercy! Mercy! That Dang Nabed PERCY!

How Much Gold is Left in Fort Knox?

How much Gold is Left in Fort Knox?

I have been sitting here thinking about how much gold is really left in Fort Knox. I suspect it is a whole lot less than most people think. I was going to explain why when I remembered that most who read my blog could care less.

What we don’t know can hurt us and we sat idly by as the government quietly raided the Social Security Trust fund, leaving it stuffed with IOU’s signed by a long list of presidents from both parties. If this doesn’t hit close to home I don’t know what will. If they can do it with the Social Security Trust fund what keeps the government from slowly selling off the nation’s gold reserves to finance shortfalls in food stamps, unemployment or give it to Freddie and Fanny to buy up worthless mortgages. College kids on food stamps….can you imagine that?

Then I paused and remembered my blog ratings. They plummet when I begin writing about these things even though the average citizen should be aware of what is going on and the certainty that it will directly effect our lives and the lives of our children and grandchildren.

The “Tea Partiers” are being much maligned by the media for all that is wrong with the fiscal policies of our huge and out of control government. They are the messenger of sanity, a voice of the prophet crying out in the wilderness, proclaiming the word that printing paper, not backed up by anything but the unsupported word of the Government is not a good idea. That the Government needs to reign in the presses and begin to live within a budget. Failure to do so they warn will soon will bring the card castle, down about the heads of everyone.

Much of the controversy has centered around the debt crisis which is the issue of bonds to finance shortfalls in tax revenues. It hasn’t really dawned on the taxpayers what the steam rising from the printing presses really means. Or what the steadily increasing rate of exchange between the dollar and gold truly signifies. Yes we are trying to get the bond issue under control but that is but the tip of the iceberg. The unconstrained printing of currency with little to back it up is the behemoth that stands in the background.

The federal Reserve won’t tell you how much gold is left in Fort Knox. It is probably best that they don’t. The Stock market is too fragile to withstand the shock of what the truth really is. That statistic is no doubt locked up in one of the empty vaults that used to be stacked high with the precious metal.


Finally the breaks are beginning to be applied and questions being asked.
One political leader wants to go back onto the gold standard and threatens to visit Fort Knox…. I hope he takes some auditors and insists on being taken beyond what is being “Show Cased” in the central vault.

All this gold that is currently being purchased by the Ton, on the world market has to be coming from somewhere. The trickle being produced through mining these days can’t begin to approach what is being moved on the International scene from one bank vault to the next. It would appear that we are already on the Gold Standard and the value of the dollar is being expressed by the rate of exchange. If that is true and we have seen a substantial change in the rate over the past two years. What was selling for a thousand dollars an ounce when the current administration came to office is now selling for Seventeen-fifty. That is a much better indicator of inflation than the point five percent reported by the Bureau of Labor Statistics last quarter. After they adjusted it to ignore food and energy costs. I guess if you don’t like the numbers and don’t want to pay cost of living increases you simply ignore the criteria that are harbingers of the truth.