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Pastimes : coug's news and views

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From: coug8/18/2010 9:49:16 AM
   of 3961
 
The Great American Disaster: How Much Gold Remains In Fort Knox?
by Chris Weber


A Huge Mystery Remains To Be Solved

Yesterday marked the 39th anniversary of the day when the US Government declared bankruptcy. Oh, they didn't call it that at the time. But what happened on August 15, 1971 was that the US defaulted on its promise to pay gold for dollars.

Before that day, gold was the legal linchpin of the world monetary system. Although every currency was defined in terms of the US dollar, the dollar itself was legally defined as 1/35th of a troy ounce of gold.

Much more.....................

lewrockwell.com
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