Fort Knox Gold?

Bold predictions come and go. The latest soundbite is that Rep. Ron Paul put in a request that representatives from the U.S. Treasury Department and the U.S. Mint testify at a subcommittee hearing on June 23 about the authenticity of the nation’s gold .

If there is no gold in Ft Knox, (United States Bullion Depository,) it will affect the whole economy of the country and the credibility of the Department of Treasury. To know is to restore a smudge of confidence in the US government, thereby to some degree in the US dollar. If not, then we know the government has been lying, and an audit will correct that.

While there is no silver lining in the economic crisis, such request may lead to reexamine the flaws hidden in our system, thereby explaining the almost-total abandonment of professional judgment and ethics in Washington. Also, while some policymakers on the right or left seem focused almost exclusively on fighting the audit– vigorously–saying it’s radical and even conspiratory—it should be a good indicator that there is something to hide. In a highly-developed country like the United States, anything to do with any kind of economic data are revised regularly and sometimes by wide margins, even with the best of intentions. Suspicions in the Treasury comes from untrustworthiness with the assumption, that the US gold has in fact been sold to other countries and replaced with tungsten in order to satisfy, literally, the world’s fiat money system.

With the U.S. butting up against the debt ceiling having already racked up a $14.3 trillion deficit, an audit is obligatory, if only to prove that we are a stable place for foreign investment.

While the Congressman’s message has been consistent to abolish the Federal Reserve, stop printing and go back on a gold standard, the Republican from Texas, in Congress for 35 years, says, gold prices could hit $10,000 an ounce if the U.S. doesn’t get its fiscal house in order. Starting with the unethical actions of the Federal Reserve, there will never be a solid confidence in the philosophy of spend, spend, spend, print, print, print – repeat—which is a blueprint for financial suicide.

When it’s all said and done, the dollar is crashing from Federal Reserve’s activities—and it won’t buy a stick of gum. The good news is that if all hell breaks lose, it will spark some massive volatility. “Any sort of volatility means there will be some amazing profit opportunities– especially in goldand silver” says President Ron Fricke of Regal Assets.

Source: http://goldcoinblogger.com/fort-knox-gold/#more-3180