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Politics : Politics for Conservatives -- Ignore unavailable to you. Want to Upgrade?

To: unclewest who wrote (4201)	1/16/2013 6:39:42 PM
From: Old_Sparky	2 Recommendations Read Replies (1) \| Respond to of 125683

This is how conspiracy theories come about. The last audit was apparently carried out in 1953. Since then it has been a case of " trust us, we're the gov't, we wouldn't lie. " The fact is, if the gold is all there, then why not just audit it? What could be the problem? And if in fact the gold is physically there in Ft.Knox, the problem is it might actually belong to other banks/countries, having been sold, just not physically transferred to the new owners. Moving pallets of gold around is rather onerous. So just stick a sign on the gold that says this pile now belongs to bank XYZ. Worse yet is the theory that the gold was sold and replaced with gold covered tungsten bars. Looks like gold, same weight/density as gold, not the same value. All kinds of conspiracy gold theories. Easily dismissed by a full and open audit. Actually I think there is one of those petition things right now at white house .gov. that asks for a gold audit. Go ahead sign it...you're probably on the black helicopter list already, nothing to lose :-))

To: unclewest who wrote (4201)	1/16/2013 6:47:54 PM
From: Copeland	1 Recommendation Read Replies (1) \| Respond to of 125683

The common belief shared amongst many goldbugs is that the majority of gold stored at Knox, West Point, and the Denver Mint has long been leased away to the banks. The banks, in turn, have since sold it to manipulate market prices or used it to fulfill their COMEX contractural obligations. That's why the Fed and the Treasury have been very reluctant to let their stockpiles be audited. There's always been a strong relationship between the TBTF banks and government treasuries. Case in point, Prime Minister Gordon Brown, when British chancellor of the exchequer, sold 60% of Britain's gold reserves at an average price of $275, in order, as many believe, to drive the price of gold lower to the benefit of the short positions of the big British banks, and later, when gold started appreciating, as a way for those banks to get out of those positions without having to buy on the open market (which would cause the price to have skyrocketed). zerohedge.com blogs.telegraph.co.uk

To: unclewest who wrote (4201)	1/16/2013 7:11:26 PM
From: Copeland	2 Recommendations Respond to of 125683

By the way, the fact that the Fed is going to deliver that gold -- only 300 tons -- over a span of SEVEN years only fuels the theory that much of the 7000 tons of gold being held in New York is non-existent. I didn't realize that the Germans weren't even allowed to even view their own gold that's being in held in the Fed's vaults until 2007, and even then they were only allowed to see the gold allocated just for Germany -- not the entire stash. zerohedge.com spiegel.de