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Originally posted by Surfrat
reply to post by Surfrat
There's a reason we went off the gold standard. And nobody who advocates Forbes' plan is going to get elected. Fiat currency is the key to power. Deficit spending doesn't work without it.
Originally posted by Surfrat
The United States holds the largest gold reserve in the world. Tthe US gold holdings are worth approximately $269.67 billion
China holds a total of almost $35 billion.
www.wealthdaily.com...
Originally posted by Surfrat
The United States holds the largest gold reserve in the world. Tthe US gold holdings are worth approximately $269.67 billion
China holds a total of almost $35 billion.
www.wealthdaily.com...
By Charles Riley @CNNMoney May 11, 2011: 5:20 AM ET
NEW YORK (CNNMoney) -- This just in from the Treasury Department: The United States will not be unloading its nearly $400 billion stash of gold to delay hitting the debt ceiling.
At least not if Treasury Secretary Tim Geithner gets his way.
Originally posted by manta78
Originally posted by Surfrat
The United States holds the largest gold reserve in the world. Tthe US gold holdings are worth approximately $269.67 billion
China holds a total of almost $35 billion.
www.wealthdaily.com...
Actually according to the article below, the U.S. has $396 billion in gold total, with $223 billion at Fort Knox, $66 billon at Denver, CO. West Point, NY has $82 billon, and the NY Federal Reserve Bank has $20 billion in gold. (don't want to keep it all in one place you know).....
And based upon the note at the bottom of the chart presented in the article those figures only total $391 billion dollars in gold. It does note however that several billion (which should be $5 billon) if the total is correct, is scattered between the four locations in the form of gold coins.
And it doesn't look like we will be selling any of it anytime soon.....
By Charles Riley @CNNMoney May 11, 2011: 5:20 AM ET
NEW YORK (CNNMoney) -- This just in from the Treasury Department: The United States will not be unloading its nearly $400 billion stash of gold to delay hitting the debt ceiling.
At least not if Treasury Secretary Tim Geithner gets his way.
Source: money.cnn.com...
edit on 5/11/2011 by manta78 because: (no reason given)