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Ron Paul questions whether there's gold at Fort Knox, NY Fed

 
Anonymous Coward
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08/30/2010 07:11 PM
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Ron Paul questions whether there's gold at Fort Knox, NY Fed
Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold.

Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it's "a possibility" that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank.

The libertarian lawmaker told Kitco News, a website tracking news about precious metals, that an audit was necessary to determine how much the U.S. maintains in gold reserves in case the government were to use gold to back the dollar.

“If there was no question about the gold being there, you think they would be anxious to prove gold is there,” he said.

“Our Federal Reserve admits to nothing, and they should prove all the gold is there. There is a reason to be suspicious and even if you are not suspicious why wouldn’t you have an audit?

[link to thehill.com]
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08/30/2010 07:14 PM

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Re: Ron Paul questions whether there's gold at Fort Knox, NY Fed
There should be regular audits of Fort Knox. We are idiots to have let these shenanagins go on as long as they have. I fear the results of an audit would not be good-- otherwise there would be no fight over doing one.
T For Texas, T For Tennessee!


The virtue of courage is a prerequisite for the practice of all other virtues, because otherwise one is virtuous only when virtue has no cost. There are times when something needs to be done, and yet we know that if we step up and do this needful thing, we will pay a heavy personal price. -C.S. Lewis
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08/30/2010 07:14 PM
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Re: Ron Paul questions whether there's gold at Fort Knox, NY Fed
Anonymous Coward
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08/30/2010 07:15 PM
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Re: Ron Paul questions whether there's gold at Fort Knox, NY Fed
WTF???? Is the gold gone?
Anonymous Coward (OP)
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08/30/2010 07:18 PM
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Re: Ron Paul questions whether there's gold at Fort Knox, NY Fed
WTF???? Is the gold gone?
 Quoting: Anonymous Coward 722595

I fear the gold has been used as collateral to the Fed for the national debt. Disgusting that the U.S. government borrows from the Fed who has no money. Then the U.S. government uses the gold as collateral. Amazing how the Fed can create money out of nothing and receive gold in return.
Anonymous Coward
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08/30/2010 07:35 PM
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Re: Ron Paul questions whether there's gold at Fort Knox, NY Fed
WTF???? Is the gold gone?

I fear the gold has been used as collateral to the Fed for the national debt. Disgusting that the U.S. government borrows from the Fed who has no money. Then the U.S. government uses the gold as collateral. Amazing how the Fed can create money out of nothing and receive gold in return.
 Quoting: Anonymous Coward 1072830

Nothing surprises me anymore with this government. The Fed is the biggest criminal organization ever.
PinkPanther
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08/30/2010 07:38 PM
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Re: Ron Paul questions whether there's gold at Fort Knox, NY Fed
Ron Paul should probably not get into a hot tub or board an airplane.
Just ask Matt Simmons and Ted Stevens...
tomato
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08/30/2010 07:41 PM
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Re: Ron Paul questions whether there's gold at Fort Knox, NY Fed
Ron Paul should probably not get into a hot tub or board an airplane.
Just ask Matt Simmons and Ted Stevens...
tomato
 Quoting: PinkPanther 1084499

Agreed. Ron should be smart enough to know he is really playing with fire.
Anonymous Coward
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08/30/2010 07:44 PM
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Re: Ron Paul questions whether there's gold at Fort Knox, NY Fed
This has been done once before not really an audit but an inspection back I think late 40's

Lets go for it - Its US gold Not FED REserve

I think I know who I am voting for





GLP