Fort Knox gold an US government

madanthonywayne said:
Not necessarily:
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What is the largest denomination of US currency? Does it have anything at all to do with how many ones, fives, tens and twenties the Bureau of Engraving and Printing produces?

Let me try that again: Every US paper dollar printed represents one dollar in trade that the Fed estimates is taking place on a given day. When the number of trades is very high -- during a period of stable dollar valuation -- the Fed will accelerate printing, and when the estimated number of trades is low, the Fed will decelerate the printing process.

Therefore, a high rate of currency production will generally reflect a greater amount of commerce and therefore a more thriving economy.
 
R1D2 said:
Putting politics an the meaning of gold, an the backing of the dollar aside. Do YOU believe that Fort Knox don't have gold? Where do you believe the government put it? Where might have all the gold in Knox GO?!? What could this mean to our standing in the world?
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Some gold is standardized as negotiable assets. Bullion can be treated as a commodity or even traded like cash.

What I don't think is happening is the scenario you are alluding to.

I don't think anything "wrong" is going on.

The country doesn't need gold to back its money supply. US bonds are still a preferred from of investment the world over. The US is still the richest county in the world.

I couldn't begin to tell you how much gold has been collected or sold off in the US and when or why it took place. I suppose we could dig into Treasury records for that information if you like. As I said earlier, the US abandoned the gold standard around 80 years ago. Perhaps you'd like to discuss the reasons that took place.
 
Mr A,
I do believe as well as many others around ?"Ratcliff" I think that's one of the towns an maybe ?Elizibethtown, Kentucky. See I was at fort knox many years ago I was stationed there. An the 2 towns I may have spelled wrongly. Or may have confused. But anyways the people in the 2 towns I "visited" around Knox those people in majority believe there is no gold stored there. Just like in the opening post. The t.v. Show "investigated" the possibilities, an what it would mean an stuff. My theory is we may have most of what was there somewhere else.
Its empty, the gold was moved long ago... An as I said earlier the government is lying on there "records an audits"
An if you wish to discuss the reasons we "changed" from the gold standard
An weather we should go back to it that's fine with me...
I say though I would not know where to start with those opinions. But here is a shot.. WW2, came along an we were close to being back on our feet from the depression. An ww2 didn't help an... :( .. We americans could not rely on gold to back us. We were in debt, more than gold could dig us out... An we still are.
 
Aqueous Id said:
What is the largest denomination of US currency? Does it have anything at all to do with how many ones, fives, tens and twenties the Bureau of Engraving and Printing produces?
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The highest denomination currently in production is the $100 bill. Should we ever see a 100 trillion dollar bill, it will not be a sign that the economy is in good shape. As to the relationship between the highest denomination and the number of ones, fives, tens, and twenties being produced; the existence of a 100 trillion dollar bill would imply that the ones, fives, tens and twenties were no longer worth the paper they were printed on.

hyperinflation.jpeg
 
madanthonywayne said:
The highest denomination currently in production is the $100 bill. Should we ever see a 100 trillion dollar bill, it will not be a sign that the economy is in good shape. As to the relationship between the highest denomination and the number of ones, fives, tens, and twenties being produced; the existence of a 100 trillion dollar bill would imply that the ones, fives, tens and twenties were no longer worth the paper they were printed on.
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Your conclusions here are not supported by history or reason. You cannot make broad blanket statements like that without any qualifications or dependencies and expect it to be treated with any degree of credibility.

In the past the US has issued much larger currencies, $500, $1,000, $10,000 and $100,000 bills and the economy didn’t seem to mind.



http://en.wikipedia.org/wiki/Large_denominations_of_United_States_currency
 
joepistole said:
Your conclusions here are not supported by history or reason. You cannot make broad blanket statements like that without any qualifications or dependencies and expect it to be treated with any degree of credibility.

In the past the US has issued much larger currencies, $500, $1,000, $10,000 and $100,000 bills and the economy didn’t seem to mind.



http://en.wikipedia.org/wiki/Large_denominations_of_United_States_currency
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You're right about the existence of a $100,000 bill.

US100000dollarsbillobverse.jpg

However:

The notes were used only for official transactions between Federal Reserve Banks and were not circulated among the general public.[4]
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So my point stands.
 
Maybe they turned all the gold into a giant pyramid and the energy released transported it to the 8th dimension.
 
madanthonywayne said:
You're right about the existence of a $100,000 bill.

US100000dollarsbillobverse.jpg

However:



So my point stands.
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No your point does not stand. We have used higher denominations in the past. The fact that the $100,000 bill was never in general circulation is irrelevant. The denomination of currency is not in any way related to economic health. The velocity of money (the rate in which money changes hands) on the other than is very germane to the health of an economy.
 
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R1D2 said:
the government is lying on there "records an audits"
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Think about what you're saying. Let me begin my noting that lying on an official audit would be a felony. Next, you have to ask yourself who is lying to whom? Let's start with the idea that the government is lying to the people. What does that mean? Postal workers are government employees, but you probably don't think they are sitting in on conspiracy meetings do you? And you wouldn't expect Republicans and Democrats to be working together on this, would you? This is the problem with government conspiracy theories. They're too vague and too broad to make sense. Take Watergate for example. A part of the government, which included several of Nixon's top dogs, were involved in a conspiracy to attack the DNC and then cover it up. However, another part of the government was involved in exposing the crimes and calling witnesses to testify on national television. So which government is the secret conspirator, and which is the cop? Thinking of the government as as single company that reports to one boss isn't going to fly. There are too many competing folks doing cross checks on each other and holding each other accountable. In the political arena, half of that (like trying to claim the President is illegally in office, due to allegedly being foreign-born) is patently bogus. Therefore the opposite is going to tend to be true. There will tend to be more false allegations, more over-investigating, than the possibility of conspiracy. Plus, today everyone is a self-serving snitch. It's a tell-all-athon out there. This makes up for the lack of ethics pretty well. Just how long do you think a secret conspiracy to conceal or remove assets from the federal treasury could actually go on? It's nutty.

An if you wish to discuss the reasons we "changed" from the gold standard An weather we should go back to it that's fine with me...I say though I would not know where to start with those opinions. But here is a shot.. WW2, came along an we were close to being back on our feet from the depression. An ww2 didn't help an... :( .. We americans could not rely on gold to back us. We were in debt, more than gold could dig us out... An we still are.
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You seem to be wanting to connect the use of a gold standard with either debt or the value of money (inflation). Yet the worst times of debt, inflation and economic disaster, the crash of 1929, took place under the gold standard. The fact is, the two things, economic health and gold bullion, are simply not connected.
 
madanthonywayne said:
The highest denomination currently in production is the $100 bill. Should we ever see a 100 trillion dollar bill, it will not be a sign that the economy is in good shape.
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My statement was this: that when the Fed is printing currency, it's generally a sign of economic health. Each dollar put into circulation is done so to match their estimate of each dollar in trade taking place somewhere in the country. The more dollars printed, the more trade is taking place. The example from Zimbabwe relates to another topic, one of currency revaluation that took place in a country that lacks our history and stability. However, let's suppose for some reason we did a 10:1 revaluation. And let's take it either way. Let's say the tofu burger you undoubtedly order with your copy of The Morning Bell costs $5 before the revaluation. Then something happens, and you wake up to find out your burger costs either $50 or 50¢, depending on which way the revalution swung. The question now is, which one is better? And what does either one have to do with economic health? If a tractor in Zibabwe costs a gazillion dollars, and they're selling like hot cakes, and thus the Zimbabwean treasury is printing gazallion dollar bills by the boatload, then all is well in Zimababwe.

As to the relationship between the highest denomination and the number of ones, fives, tens, and twenties being produced; the existence of a 100 trillion dollar bill would imply that the ones, fives, tens and twenties were no longer worth the paper they were printed on.
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Only if the 100T bill is being madly circulated, in which case the economy is healthy. Why else print the bills if not to use them in trade? I think you misunderstand why nations use currency at all.

The question here is whether anyone is claiming that US dollars aren't worth the paper they're printed on. In that case, I would gladly take them off your hands, since I'm trying to mount a small personal collection of the worthless items myself.
 
R1D2 said:
Hey check this out.

Good stuff.

http://silverdoctors.blogspot.com/2011/09/108-trillion-worth-of-gold-was-stolen.html?m=1

Maybe this is why they lied on there audit. The gold in knox got moved an separated. An a large chunk was stolen. Oh & yes I still believe Knox is empty. Plenty of good reasons to do so.
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It looks like wild rumor. I followed the links and ended up at NPR which I trust. NPR has an eye witness account of the recovery of gold and silver from the bank vaults under the WTC, but not even hint that any of it went missing.

as for Ft Knox:

The United States Bullion Depository, often known as Fort Knox, is a fortified vault building located adjacent to Fort Knox, Kentucky, used to store a large portion of United States official gold reserves and occasionally other precious items belonging or entrusted to the federal government.
The United States Bullion Depository holds 4,578 metric tons (5,046.3 short tons) of gold bullion (147.2 million oz. troy). This is roughly 2.5% of all the gold ever refined throughout human history. Even so, the depository is second in the United States to the Federal Reserve Bank of New York's underground vault in Manhattan, which holds 7,000 metric tons (7,716 tons) of gold bullion (225.1 million oz. troy), some of it in trust for foreign nations, central banks and official international organizations.
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I see no proof to the claim that anyone lied about the gold at Ft Knox.

CBS
 
:D of course you see no proof to any claim that someone lied about the gold at fort knox. Because the government don't want everyone to know its missing.
Have you been in or around fort knox, kentucky? I have, lots of people that live an work around there have claimed its empty. An I have heard from a waitress who said her dad worked in the vault told her nothing is there.
Believe its there all you want. But it not really there. As I have said I think it has been moved some where else in america. Maybe its under mount rushmore...
 
R1D2 said:
:D of course you see no proof to any claim that someone lied about the gold at fort knox. Because the government don't want everyone to know its missing.
Have you been in or around fort knox, kentucky? I have, lots of people that live an work around there have claimed its empty. An I have heard from a waitress who said her dad worked in the vault told her nothing is there.
Believe its there all you want. But it not really there. As I have said I think it has been moved some where else in america. Maybe its under mount rushmore...
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People have believed that for decades. It prompted a public display of the gold. But still the rumors persist. Rumors are frequently not true. Other than the rumors, what makes you think they are true? The bottom line is you don't have any proof that the gold is not there. On the other hand we have the government saying it is there. And finally, the gold at Fort Knox is not signficant to the economic well being of the nation. So what motivation would the govenment have for lying?
 
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Without looking it up, the government last sown the gold to some selected individuals in the 70's. No other "groups" have seen it since.
An since I can not help but repeat myself. I feel the gold has been split up an moved. An Knox is empty.
I will guess because I can, that the government moved the gold out of fort knox. Because fort knox is so very well known. An they feel it is a likely target. So why not "hide" the "stash" somewhere less well known.
Or maybe there are people that feel like if we were to pay off any debt. Cash is not really the way the would do that.
Maybe they moved it under the world trade center. An some was "stolen" an lost. An some was reclaimed. An they don't want to look like "fools".
 
R1D2 said:
Without looking it up, the government last sown the gold to some selected individuals in the 70's. No other "groups" have seen it since.
An since I can not help but repeat myself. I feel the gold has been split up an moved. An Knox is empty.
I will guess because I can, that the government moved the gold out of fort knox. Because fort knox is so very well known. An they feel it is a likely target. So why not "hide" the "stash" somewhere less well known.
Or maybe there are people that feel like if we were to pay off any debt. Cash is not really the way the would do that.
Maybe they moved it under the world trade center. An some was "stolen" an lost. An some was reclaimed. An they don't want to look like "fools".
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The bottom line is that you have nothing other than a feeling to support your notions. If some were lost/stolen where is it? The gold market is rather thin. Someone trying to sell large sums of gold would have been noticed.
 
joepistole said:
The bottom line is that you have nothing other than a feeling to support your notions. If some were lost/stolen where is it? The gold market is rather thin. Someone trying to sell large sums of gold would have been noticed.
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Conspiracies about our government don't have much to go on. The government hides most solid evidence. I had said earlier that the gold was most likely moved, and stored somewhere else. And if all that gold was moved, the government most likely won't come right out to explain what they did with it. Or even why. If someone stole some gold they most likely may hold on to it for a while, an piece it off.
 
Sovereign governments such as the United States can print new money. However, there's a statutory limit to the amount of paper currency that can be in circulation at any one time. Ironically, there's no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.
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Just don't accidentally use it in the coke machine.
 
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