Fort Knox: If the Gold Were There, They’d Let Us See It

Finance U Public Finance U
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Originally published at: https://peakprosperity.com/fort-knox-if-the-gold-were-there-theyd-let-us-see-it/

Note: Paul is traveling this week, so we’ve brought him in with a pre-recorded piece to explain to us a gain the importance of running a risk-managed portfolio during times like these. But first I dive into the Fort Knox audit and gold and silver’s remarkable price action of late.

It looks like we’re about to find out how much gold is actually in Fort Knox. Or not there.

Trump has confirmed that by saying, “We’re going to go into Fort Knox to make sure the gold is there.”

Is it Fort Knox or Fort Deception? And if the latter, does that explain the massive gyrations in the gold markets of late, with exploding lease rates in London and speciation that more than 2,000 tons have been flown across the Atlantic Ocean over the past couple of months?

That’s a strong possibility. It fits.

If true, it means two things. (1) The US’s official gold has been used to put additional supply out into the gold market which would have been price suppressive. (2) Now that same gold has to be brought back into Fort Knox, which would be quite price-supportive.

It implies also that the great game of endlessly suppressing the price of gold with endless paper gold contracts issued by US bullion banks might be over.

Whatever the cause, big money is moving in gold in a very big way. When the elephants stampede, my instinct is to run along with them in the same direction, and not stop to ask to many questions.

Back to the audit of Fort Knox. I am 99% sure that the gold that is supposed to be there isn’t there. Why such certainty? Because my rule of life is that whenever bureaucrats spend more effort trying to prevent something from seeing the light of day than it would take to simply let that thing be seen, it’s because they really want that thing to remain hidden.

If the gold was actually there, we’d all be able to book a tour, walk past the vaults, have a nice lunch in the visitor cafeteria, and buy a t-shirt on our way out. If the gold was there, they’d let us see it.

We can tour the US Treasury’s money printing operations. We can visit national galleries with untold wealth in them. But not gold. Oh no! Not the gold!

That’s the tell right there.

At any rate, there’s a fascinating historical tale to tell about the earlier supposed gold audits both for what they say and what they omit.

I review both the last audit in 1986 as well as the (truly) honorable Ron Paul’s 2011 gold transparency hearing.

Finally, I think the equity markets are super stretched, as are consumers and that US government spending is sure to fall. All of which is a polite way of saying your portfolio should be managed by someone who uses a risk-managed approach. This is no time to passively buy-and-hold, or buy the dip. Instead, get a free portfolio and financial planning review with one of Paul’s team at KWM so you can develop a defined plan for managing risk and navigating toward a successful retirement.

If you’re ready to buy gold or silver, especially if you are ready to have it securely vaulted in your name in the jurisdiction of your choice, then click here to reach our preferred gold partners at GoldCore.

Or, if you are self-employed and ready to take control of your 401k by managing its investments yourself, then please click here to get in touch with one of the amazing people at eQRP to explore if a self-directed retirement plan is right for you.

Now, let’s dive in…

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18% on Polymarket right now
Polymarket | Gold missing from Fort Knox?

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I.e., they’d rather climb a tree to tell a lie than stand on the ground and tell the truth.

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There should be a live TV special when they count the gold hosted by Geraldo Rivera.

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That seems like a steal. 18% chance gold is missing. I guess conspiracy truthers haven’t seen the bet.

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At this stage, even a live stream viewing cannot be trusted, especially after all this time with zero audits. I do not know what CAN be trusted in terms of verifying.

Question: what if the gold really is there, but they say it is not? :thinking::woman_shrugging:t2:

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Maybe they would bring Rand Paul. A straight shooter if ive ever seen one. But i trust Trump and Musk, so i hope they bring Rand for your sake.

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I’m debating buying “yes” just because it’s such an absurdly low margin of error. 0.03% under and it resolves as “yes”. If you audit it twice in a row you’d you’d probably come out with more difference than that. Even if it’s all there it’s still about a 50/50 chance of it resolving to “yes” just due to a tiny error. 5x payout on a 50/50 chance isn’t an opportunity that comes often.

And I think odds are high that it will be way more missing than that.

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If gold is missing, then the next question of relevance for people like me in Australia is this:

What will happen to the USD? :thinking:

It will be a bummer for gold prices to shoot up and the USD to cave in! Then it implies gold prices in foreign currencies will be stationary.

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You can believe them if the livestream is brought to you by Lucky Charms.

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Thanks Chris, for your very funny delivery of what could soon be not so funny news. I laughed more through this than I have laughed over the last 4 months!

That Americans and our elected government officials have been OK and evidently with full trust for so many years about the US gold stash…is the hilarious bit.

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Feb 18
Dropped by local coin shop to hear the local chatter perspective of more knowledgable folks than me.

Their professional insight matched discussions here. The chatter they had heard was that the tremendous demand was for larger bars for the big players somewhere. Smaller size coinage was available & selling but not in huge demand - yet.

Some folks were shopping.
Some folks were selling.

If I was a betting man,
One little older lady, looked like she was selling a little bit of accumulated coins as needed to supplement some living expenses.

Took the wife to the local BBQ shack next door for lunch. It’s a simple older place with good food, and mainly simple wooden plywood booths. There were pads on the plywood seats to sit on and eat. The back of the booths were just stained plywood. The stained plywood backs on the booths were all worn and scratched up around waist high for some reason especially on the seats that looked towards the access doors for some reason. Maybe I will figure out why someday.

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What if it’s all there but ownership is now in the hands of the Fed and not the mint/treasury?

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My feeling is that Trump/DOGE are “telegraphing” an the audit so THAT there’s time to physically bring it back to Fort Knox (from privately held hands).
Reasons:

  1. to provide stability / credibility for the USD
  2. to ensure that any potential future “confiscation of gold” will result in the physical receipt of all gold. No point confiscating something if gazillions of ounces have already been invisibly exited out the back door before a confiscation effort… " D’oh "
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I was in the Army at Ft Knox in 1976 for a short time and the senior Sargents told us there wasn’t much gold left because most of it was moved to NY city depository.

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Sergeant

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Interesting show. There are several points of interest I would like to bring up. First, I am 80 years old and I relate these points with not the greatest memory. I have been with GATA and have been invested in gold for some three decades. Thus, I try to understand inflation and its true impact. If we take a dollar item and inflation was 3% yearly, that item in 10 years would cost say 138 dollars. But most of us, by pure observation know that prices are much higher after 10 years. If we had 7% yearly inflation that object would cost 177 dollars and say if we had 14% inflation that object would cost 325 dollars after 10 years. Now I like to ask friends that own businesses and factories how much more the products they have to bring in cost. We also look at international studies and note that the increase of costs are often 12 to the low 20%. My home insurance went up 25% this year alone. My conclusions is that the PPP of currency decreases at much faster rate than advertised.
The next evaluation would be the strength of the overall economy. One measurement would be the percent gain of gold say in a 20 year period against a currency.
We see an 423% against the Swiss franc, 579% gain against the USD and a 769% gain against the NZ dollar. Add to that the gold price is manipulated downwards in a daily routine. For me this is even a greater indication of the devaluation of currencies as related to the health of a country.
Max KEISER and others tried to convince the German public to demand the return of gold from NY. Two German representatives flew to NY to view the gold but noted that the numbers of the bars did not match the gold given. As we have heard it took 7 years to get the gold back. Many years ago the Chinese bought 10 or 12 kg bars from the States and had them sent to London for storage. They demanded inspection which revealed Tungsten covered with gold. The Chinese demanded an investigation since the gold had originally at one time been in Fort Knox. The US refused. Somehow the info came out that the bars were from a foundry near the Great Lakes.
If I remember correctly it was thought that these bars were made before WW2.
Knowing of all the corruption that we are exposed to, including the vast leasing, short selling, multiple ownerships of the same gold, etc, I doubt that the gold in storage actually belongs to the US government. To me it seems like an impossible task to pinpoint actual ownership of specific amounts of gold given the storage facilities in so many parts of the world and the subterfuge of dishonest transactions we already know about, let alone those hidden from us.

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The gold will be there. They will come back with a count. This will then serve to revalue Gold and Gold Back the USD, the only way forwards. Time to hold Gold before it goes “x” ponential!

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Just proof that both political parties are two sides of the same coin. So DOGE finds wasteful spending and the Senate is voting to increase spending. Rand Paul as the lone wolf calls out the Republican hypocrisy. He warns that that a debt crisis is looming, something Martin Armstrong has been yelling about for years.

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An area of confusion is the difference between a Ton and a tonne.

A ‘Ton’ and ‘tonne’ are not equal, and it’s not just about the spelling.

Both are a unit of weight, a Ton is an Imperial measurement (still widely used in the USA), and a tonne is a Metric measurement.

This recording mentions a 2010 Audit at Fort Knox gold weighing “over” “9,300 Ton”. Writers like those at the BullionStar website use the metric spelling “tonne”.

So we need to know from your new Auditors if they will be using imperial tons. or metric tonnes in their new Audit.

And if they do already use metric tonnes, a question I might pose is when did they stop using imperial tons and how did they account for the difference in ton vs. tonnage???

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