| Author |
 Replies: 10 / Views: 902 |
|
|
Pillar of the Community
United States
5199 Posts |
Reading about the possible audit of Fort Knox's Gold supply and found this amazing fact I did not know.........
Gold at Fort Knox is Valued at $42 per Ounce - The U.S. Treasury still lists its gold holdings at a 1973 price of $42.22 per ounce, even though gold is trading near $3,000 today. If an audit forces a revaluation, the implications for gold's role in the financial system could be massive..
The Last Fort Knox Inspection Was in 2017 - Before that, only two other public visits occurred: one in 1974 and one in 1943. Conspiracy theories questioning how much gold is truly inside have been around for decades
|
|
|
|
Pillar of the Community
United States
2951 Posts |
|
|
Pillar of the Community
United States
1717 Posts |
i didn't know that either, Marve65, until a few days ago. I've been tuning in to various podcasts for the past week or so listening to people talking about a potential audit of the alleged Ft. Knox gold and I've heard the mentions of past audits & the current $42/oz. valuation. it's been informative & entertaining.
|
|
Pillar of the Community
United States
1717 Posts |
that was an interesting read, Tunnioc. thanks for posting that.
|
|
Pillar of the Community
 United States
5199 Posts |
Yeah, that's crazy about the US valuing the gold at 42$ per ounce - wonder if they'd like to sell a few hundred ounces!  |
|
Valued Member
United States
330 Posts |
The "Book Value" of $42.00 is for accounting purposes. Given the fluctuations in PM values, a different value is only relevant upon sale. The quantity of gold in storage at Fort Knox and West Point is what matters, one can then calculate "value" at any given time using PM spot prices.
|
|
Valued Member
United States
220 Posts |
Government has always borrowed just on its word. Updating undervalued assets on your balance sheet solves nothing. If anything it just gives them an excuse to borrow more.
|
|
New Member
United States
3 Posts |
I heard an analyst state that even if the gold was revalued at $3000/oz, it would only cover several months on the INTEREST ALONE on the National debt. That's how indebted this country is to the Fed Reserve.
Edited by TNHighwayman
03/23/2025 4:16 pm
|
|
Moderator
 United States
160660 Posts |
It also demonstrates how useless going back to a gold standard would be.  |
|
Pillar of the Community
 United States
4366 Posts |
Gold and silver have only ever been mediums of exchange. There has probably never been a culture on Earth where a government's gold reserves were even close to the nation's transactional GDP.
|
|
Moderator
United States
160660 Posts |
Quote:
There has probably never been a culture on Earth where a government's gold reserves were even close to the nation's transactional GDP. 
|
| |
Replies: 10 / Views: 902 |
|
Posted 02/20/2025 5:54 pm
