tag:blogger.com,1999:blog-3758330678390419129.post1286564706887795362..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: What the Hell is This?: Mnuchin Tweets on Fort Knox GoldRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-3758330678390419129.post-82086785650842853512017-09-18T14:49:17.671-04:002017-09-18T14:49:17.671-04:00Does anyone have a list of the gold USA owes back ...Does anyone have a list of the gold USA owes back to who? How much is Ukrainian gold? How much is Libyan gold? How much is German gold? etc. Return the looted gold and then count what is left.George C. Hartwellhttps://www.blogger.com/profile/15338349080826396477noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-9868651771757309942017-09-12T14:28:07.811-04:002017-09-12T14:28:07.811-04:00Have you seen this? Reason to doubt the audits of ...Have you seen this? Reason to doubt the audits of the Fort Knox gold supply https://www.bullionstar.com/blogs/koos-jansen/us-mint-releases-new-fort-knox-audit-documentation-the-first-critical-observations/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-66222646583308196932017-09-12T07:49:07.147-04:002017-09-12T07:49:07.147-04:00Margaret louise, my apologies, I left out a comma....Margaret louise, my apologies, I left out a comma. I should have written "Why should we care, if dollars are not backed by gold?" My sarcasm was directed at the state's contradictions for telling us that gold is irrelevant, then trying to comfort us that the gold is here.The NAPsterhttps://www.blogger.com/profile/16631781625841157567noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-40187487935460090002017-09-10T23:40:03.170-04:002017-09-10T23:40:03.170-04:00There's a "catch 22" at work here.
G...There's a "catch 22" at work here.<br />Gold backing limits the quantity of "dollars" that can be printed but it also limits the commerce that can be carried on.<br />Ben Franklin said "The colonists would have borne a tax on tea" and that the King taking away their money (colonial scrip)by demanding that all transactions be in gold is what ruined the colonial Think About It!https://www.blogger.com/profile/10686543091769483441noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-2287431891963373802017-09-10T23:25:33.303-04:002017-09-10T23:25:33.303-04:00You failed to mention the most important reason fo...You failed to mention the most important reason for carefully regulated precious metal backing of "official government counterfeit."<br />Gold and Silver are both in limited supply which thereby controls the number of paper "receipts" they can print and...thereby controls the inflationary/deflationary credit games they can play.<br />The next thing to do is eliminate the Think About It!https://www.blogger.com/profile/10686543091769483441noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-33028007801008207982017-09-10T14:52:00.863-04:002017-09-10T14:52:00.863-04:00I don't follow. A good currency is infinitely ...I don't follow. A good currency is infinitely divisible yes but it certainly is of no value if it is not limited in volume.Anonymoushttps://www.blogger.com/profile/16139317422628492600noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-10899807526716613122017-09-09T13:34:18.801-04:002017-09-09T13:34:18.801-04:00Seems that would be defined as "the good fait...Seems that would be defined as "the good faith and credit of the people of the United States." After all, it is we and our diligence, hard work and creativity that creates national value, Then if money were spent into existence, instead of loaned out of thin air at tribute - er, ah, interest, things would come into balance. Of course, Constitutionally, that is a Congressional wildvortexhttps://www.blogger.com/profile/00858282155011971585noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-85944729976259003482017-09-06T11:28:46.368-04:002017-09-06T11:28:46.368-04:00goods and services , that's a standard. Gold i...goods and services , that's a standard. Gold is a good. why are we still having this conversation ? Take that gold and make something out of it. The problems with using a finite source of anything as a currency for an growing population with an expanding consumer base and inflation/deflation cycles is just as problematic as using paper or beans IMOAnonymoushttps://www.blogger.com/profile/00804818351324206112noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-23016817364888400342017-09-05T14:21:24.807-04:002017-09-05T14:21:24.807-04:00Absolutely true. Very well put. It does seem rathe...Absolutely true. Very well put. It does seem rather dumb for the Secretary of the Treasury to let us know that the gold is still there. Did anyone take a drill and see if the bars are gold plated tungsten, like we tried to give to China.thunderboyhttps://www.blogger.com/profile/04836580505452915806noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-76776205698806035282017-09-04T10:23:34.393-04:002017-09-04T10:23:34.393-04:00They should give it back to the people from which ...They should give it back to the people from which they confiscated it......Where it would become currency.margaret thttps://www.blogger.com/profile/12083424180848563887noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-50766326172221852562017-09-04T10:22:18.792-04:002017-09-04T10:22:18.792-04:00"Why should we care if dollars are not backed..."Why should we care if dollars are not backed by gold?"<br /><br />I dunno, maybe because gold is actually worth something? The fiat isn't worth anything, not even the paper it's printed on, since in the very printing the paper was ruined for any other use. The oil backed currency we've been working on is dead in the water since no other country wants it and they all want margaret thttps://www.blogger.com/profile/12083424180848563887noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-22011409600823033802017-08-22T20:45:03.789-04:002017-08-22T20:45:03.789-04:00Also very curious that the MSM decided to report o...Also very curious that the MSM decided to report on this at all. <br /><br />I don't think it comes purely from Trump-hate or schadenfreude. RDF2https://www.blogger.com/profile/14340534647561133098noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-30369451470124874682017-08-22T14:48:26.504-04:002017-08-22T14:48:26.504-04:00I'll bet they got wind of what's sitting i...I'll bet they got wind of what's sitting in the NY Fed basement and who actually "owns" what and decided they better go see if there's any left in Fort Knox, "just in case". <br /><br />The fact they had to convince Germany to take delivery over years and that some of the bars that were sent had to be re-cast suggests bad things.Nick Badalamentihttps://www.blogger.com/profile/14015961786370759940noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-85240153935105248582017-08-22T07:46:06.550-04:002017-08-22T07:46:06.550-04:00Why do they care if the gold is safe? It's a b...Why do they care if the gold is safe? It's a barbarous relic, no? Our currency is no longer backed by it, so why do they hold it? They should give it back to the people from which they confiscated it.Brutushttps://www.blogger.com/profile/06885083535036422093noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-75767531865035791952017-08-22T07:23:02.291-04:002017-08-22T07:23:02.291-04:00It's interesting how central bankers and other...It's interesting how central bankers and other government officials routinely denigrate gold when the idea of a gold standard, or gold as money, is raised, but none of them want to sell the gold holdings, and apparently we are supposed to take comfort that "the gold is there." Why should we care if dollars are not backed by gold?The NAPsterhttps://www.blogger.com/profile/16631781625841157567noreply@blogger.com