Is There Gold In Fort Knox – Ron Paul Wants To Know

is there gold in fort knoxU.S. Representative Ron Paul, known for wanting to audit the Federal Reserve, now promises to try to find out if there is gold in Fort Knox by introducing a bill for an audit after the Labor Day recess.

Perhaps more importantly than is there gold in Fort Knox is the question of whether any of that gold is obligated, which Dr. Paul’s bill will also seek to learn.

Finding out if the gold (if there be any) in Fort Knox is obligated is crucial since possession of the gold is irrelevant if the gold has been leased out or otherwise had its ownership disconnected from the American People.

It’s sort of like a person living in a million dollar home and having everyone think he is rich, only to find out that a bank holds a million dollar mortgage on the home; the equity then becomes zero. (We won’t go into the fact that in today’s real estate market the “owner” would likely be well under water with the mortgage and the bank in big trouble on the loan!)

Most critics of organizations like GATA who have claimed there is no government intervention to suppress the price of gold and silver have finally come around to the realization that no only does it happen, it is blatantly obvious.

Selling or “obligating” the gold in Fort Knox is a reasonable expectation under the circumstances. What really makes many like myself angry is that certain large banks are allowed the exclusive ability to profit hugely from the manipulation.

Find out how best you as an individual might profit from gold and silver price appreciation despite government manipulation here.

GATA Exposes Flaw in Mike Shedlock Analysis

Jon Nadler of Kitco seeks out the stories he wants to report (IMHO). He sought out that Dennis Gartman was bearish on gold, ignoring that the Aden Sisters were still bullish – after he himself referenced their work to conclude they would be bearish. When they disappointed him, he quoted Dennis instead.

Now Jon has quoted and commended the work of Mike “Mish” Shedlock who insists that there is simply no conspiracy among gold and silver trading.

I won’t go into here, why not reference the great work of who did a better job of exposing the flaws in Shedlock’s analysis than I ever could.

Read GATA’s story on Shedlock.

Is there Gold in Fort Knox?

A short time ago I relayed a favorite joke about Fort Knox. In the joke, there is no gold left in Fort Knox.

But is there really?

Today, GATA (Gold Anti-Trust Action committee), publishes a full page ad in the Wall Street Journal asking that very question.

There has been no audit of Gold in Fort Knox since the Eisenhower administration (the 1950’s, in case you don’t remember Ike).

Additionally, if there is Gold there, how much has been compromised by leases, swaps, and any and all other encumbrances? (Effectively making it “not there”.)

If you fear a devaluing of the dollars you hold, or just want to make a lot of money on your investments, I recommend you subscribe to Big Gold from Casey Research.