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Author Topic: Most of the gold removed from Fort Knox
Dick Tracy
The Red and the Green Stamps


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Here is an inquiry suggesting that most of the gold may have been removed from Fort Knox secretly by the US gov:

http://www.fgmr.com/right2know.htm

What do you think?


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Midway Bilbo
The Red and the Green Stamps


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Well, all this "evidence" is based on one witness: Mr. Durrell. Folks have witnessed alien abductions and the gunman(men) on the grassy knoll too.

Anyway even if there was no gold left in Fort Knox our economy wouldn't collapse, since we left the gold standard our money is backed by the sale of T-bills*, not the value of gold in Fort Knox. (Found a sorta introat Motley Fool)

Midway "golden shower of facts" Bill

*Yeah I'noo - it's not quite that simple, but dammit Jim I'm a doctor not an economist! Oh crap, I'm not even really a doctor either


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die daagliks phosdex
Monster Mashed Potatos & Grave-y


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quote:
Originally posted by Dick Tracy:
Here is an inquiry suggesting that most of the gold may have been removed from Fort Knox secretly by the US gov:

http://www.fgmr.com/right2know.htm

What do you think?


You have to wonder if the source is credible, for one.

Or, for another, is something cooked up by Far Right zealots as are interested in cooking up some class of an excuse to justify their claims as to the "worthlessness" of Federal Reserve Notes inasmuch as same are not backed by gold and/or silver reserves.

Which, come to think of it (and getting a bit off topic here), leaves me wondering how many countries still have monetary policy pegging their currencies to gold or silver reserves in their Treasuries; and, if so, whether such:

    *has kept inflation in check;

    *kept wages, prices and exports competitive;

    *kept savings rates (as a percentage of wages) stable; and

    *has actually stabilised consumer buying power.


This notwithstanding Far Right propaganda in this respect....

--------------------
"Nie lees die hoofopskrifte--lees die daagliks phosdex in plaas ..."

Posts: 1316 | From: Winona, MN | Registered: Mar 2000  |  IP: Logged | Report this post to a moderator
Midway Bilbo
The Red and the Green Stamps


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quote:
Originally posted by Iludium Phosdex:
Or, for another, is something cooked up by Far Right zealots as are interested in cooking up some class of an excuse to justify their claims as to the "worthlessness" of Federal Reserve Notes inasmuch as same are not backed by gold and/or silver reserves.

Ooo, ooo Mistah Cottah! I was just reading that some folks is using exactly that argument to not pay taxes. Problem is there's already about 100 lbs of case law refuting this. So try it only if you don't think the the IRS is everywhere watching everything you do...

Midway "oops better go now I see someone- aggggkkk" Bill


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Robigus, Frozen Mushroom
The First USA Noel


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quote:
Which, come to think of it (and getting a bit off topic here), leaves me wondering how many countries still have monetary policy pegging their currencies to gold or silver reserves in their Treasuries; and, if so, whether such:
[list]*has kept inflation in check;

*kept wages, prices and exports competitive;

*kept savings rates (as a percentage of wages) stable; and

*has actually stabilised consumer buying power.
[/list]
This notwithstanding Far Right propaganda in this respect....[/QB]

Well, according to several sites, on August 15, 1971, there was no longer any country in the world that would redeem currency for gold. Whether or not this is a good thing is a matter of much discussion. Personally, it makes little difference to me. As long as I can still earn and spend paper money as easily as gold, I'll not complain. [Cool]
Posts: 724 | From: Florida | Registered: May 2001  |  IP: Logged | Report this post to a moderator
   

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