“Most of the gold in Fort Knox” might not be around you thought. If some conspiracy theorists are right, there might not be any at all. In 1933, the U.S. powers that be decided that the nation’s wealth, specifically gold bars, must be gathered and stored together in one place. This is exactly why Fort Knox was integrated 1936, to behave as a safe storehouse for America’s large amount of gold, in line with the United States Mint. Considering the united states hasn’t been on the gold standard since the first 1970s, however, it allows you to wonder why Fort Knox is even necessary in this very day and age. As Wall Street Daily points out, a safe vault filled with gold was supposed to create faith in U.S. currency. Since diving head-first off the gold standard, some experts say gold is no more important to the monetary structure. Even Moody’s Analytics’Chief Economist, Mark Zandi, admits that gold is “more symbolic than substantive” for the U.S.
The Question of an Audit
A conspiracy theory has been brewing, however. The Internet has trained with legs, but this particular skeptical supposition has likely been circulating for much more than that. In 2011 CNBC reported that Texas Congressman Ron Paul was questioning whether the gold bars in Fort Knox were real — or even there at all. All he asked was that administration officials require of Fort Knox what anybody who owned or bought gold will want: an audit of the purity of the supposed 700,000 bars that are purportedly being held in the repository. Surprisingly — or not, depending in your degree of trust for the government — his request was denied based on the cost of conducting the test, $15 million in line with the U.S. Treasury’s estimate.
Can it be Illusion or Fake?
Wall Street Daily’s Louis Basenese suggested that the Fort Knox audit function as focus of a fresh stimulus project. Whether Basenese’s proposal was in jest or not, it’s not unreasonable to be suspicious that there surely is no gold, or at the very least no real gold, in Fort Knox mts gold. The government is routinely caught covering up scandal after scandal and outright lying to the public. If the administration knew that an audit would reveal stacks and stacks of fake gold bars, why would they willing let it happen?
“Oh, but We’ve Already Tested”
The Federal government can in fact declare that Fort Knox had been audited, but they’d have to attain back to 1953 to create the results. Additionally, anybody who see the report in more detail would catch the truth that only five percent of the gold bars were tested. Since then the Treasury Inspector General has been one of many few to be allowed in to the closed facility to see what may or might not be there. It’s looking less and less like the reality will soon be revealed anytime soon.
Start your own personal Fort Knox
Today, many folks are opening their particular Gold Savings Accounts. Simply by exchanging their paper money for gold bars now affordable and available in sizes of 1 – 5 grams. One main reason: the purchasing power of paper money is shrinking whilst the purchasing power of gold has continued to increase throughout history.
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