“Most of the gold in Fort Knox” might not be around you thought. If some conspiracy theorists are right, there may possibly not be any at all. In 1933, the U.S. powers that be decided that the nation’s wealth, specifically gold bars, needed to be gathered and stored together in one place. That’s why Fort Knox was built-in 1936, to act as a safe storehouse for America’s massive amount gold, according to the United States Mint. Considering the united states hasn’t been on the gold standard since early 1970s, however, it enables you to wonder why Fort Knox is even necessary in this very day and age. As Wall Street Daily points out, a safe vault filled with gold was supposed to construct faith in U.S. currency. Since diving head-first off the gold standard, some experts say gold is no further important to your monetary structure. Even Moody’s Analytics’Chief Economist, Mark Zandi, admits that gold is “more symbolic than substantive” for the U.S.
The Question of an Audit
A conspiracy theory has been brewing, however. The Internet has trained with legs, but this particular skeptical supposition has likely been circulating for much longer than that. In 2011 CNBC reported that Texas Congressman Ron Paul was questioning whether the gold bars in Fort Knox were real — as well as there at all. All he asked was that administration officials require of Fort Knox what anyone who owned or bought gold would want: an audit of the purity of the supposed 700,000 bars which can be purportedly being held in the repository. Surprisingly — or not, depending on your own amount of trust for the government — his request was denied based on the cost of conducting the test, $15 million according to the U.S. Treasury’s estimate.
Is it Illusion or Fake?
Wall Street Daily’s Louis Basenese suggested that the Fort Knox audit be the focus of a fresh stimulus project. Whether Basenese’s proposal was in jest or not, it’s not unreasonable to be suspicious that there’s no gold, or at the least no real gold, in Fort Knox mts gold. The federal government is routinely caught covering up scandal after scandal and outright lying to the public. If the administration knew an audit would reveal stacks and stacks of fake gold bars, why would they willing let it happen?
“Oh, but We’ve Already Tested”
The Federal government can in fact claim that Fort Knox had been audited, but they’d have to attain back to 1953 to produce the results. Additionally, anyone who see the report in more detail would catch the truth that only five percent of the gold bars were tested. Since then a Treasury Inspector General has been one of many few to be allowed to the closed facility to see what may or may possibly not be there. It’s looking less and less like the truth will undoubtedly be revealed anytime soon.
Start your personal Fort Knox
Today, many folks are opening their very own Gold Savings Accounts. By simply exchanging their paper money for gold bars now affordable and obtainable in sizes of 1 – 5 grams. One primary reason: the purchasing power of paper money is shrinking whilst the purchasing power of gold has continued to rise throughout history.
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