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Selling Gold at Fort Knox Emerges as Next Big Question in Debate on Federal Debt Limit

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posted on May, 17 2011 @ 07:45 PM
The next big question on the federal debt limit could be whether to start selling the government’s holdings of gold at Fort Knox — and at least one presidential contender, Ron Paul, has told The New York Sun he thinks it would be a good move.
The question has been ricocheting around the policy circles today. An analyst at the Heritage Foundation, Ron Utt, told the Washington Post that the gold holdings of the government are “just sort of sitting there.” He added: “Given the high price it is now, and the tremendous debt problem we now have, by all means, sell at the peak.”
His comment came in the wake of not only the government having reached the statutory debt limit of $14.29 trillion but also the release of a report by the Heritage Foundation of a report on asset sales. The report outlined how a “partial sales of federal properties, real estate, mineral rights, the electromagnetic spectrum, and energy-generation facilities” might garner the federal treasury $260 billion over the course of the next 15 years.

posted on May, 17 2011 @ 07:46 PM
It is a terrible idea if the U.S. government still owns the gold. But what if the gold isn't there? Dr. Paul obviously believes that that gold in Fort Knox is gone or it has been sold to the Federal Reserve and the globalists and continues to sit in Fort Knox for theatrical purposes. If the government was going to sell the gold they would have to show the gold (or the lack of gold) to the American people and Sell the gold in the name of the American public which prevents the bankers from selling it in the shadows. Great politics!

posted on May, 17 2011 @ 07:50 PM
reply to post by Surfrat

I'd heard through the 'Money Masters' video on youtube that the gold might not even be there!
II Non Desperadum Illigitimus

posted on May, 17 2011 @ 08:05 PM
It only makes sense. If our currency isn't backed by gold, and the gov't has no desire to return to the gold standard, why are they sitting on billions of dollars of PM? What purpose does it serve? None whatsoever. Liquidate it if they're so confident in the dollar. Or, put their gold where their mouth is.

posted on May, 17 2011 @ 08:21 PM
It's also rumored that the gold has been moved to Colorado, but I can't remember where I heard it. Seems as though it was on a youtube video by a guy named Lucus from Brave New Books, but I'm nowhere near sure. Does anyone else remember hearing this?
edit on 5/17/2011 by visualmiscreant because: corrected spelling of source name

posted on May, 17 2011 @ 08:25 PM
I dont think it would go over well, china would sell all their treasuries and buy the gold, I know id replac worthless paper for gold, especially now

posted on May, 17 2011 @ 08:26 PM
If a nation expects to be ignorant and free, in a state of civilization, it expects what never was and never will be." - Thomas Jefferson

"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds" - Sam Adams

posted on May, 17 2011 @ 08:32 PM
reply to post by Surfrat

I would love to see if there actually is any gold in there, personally I don't think there is.
But I say keep the gold and dump the fed, their contract is up in a little over a year.
Might that be some connection?

posted on May, 17 2011 @ 08:38 PM
what gold ? there is no gold,if there is any it belongs to federal reserve banks or other countries storing it,my opinion

posted on May, 17 2011 @ 08:56 PM
reply to post by visualmiscreant

You are correct; some of it is in Colorado. In another thread located here:

I posted this info from a link within that post:

"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....."

posted on May, 17 2011 @ 10:42 PM

Originally posted by freeradical1
what gold ? there is no gold,if there is any it belongs to federal reserve banks or other countries storing it,my opinion

Chute! You said it first! My first thought exactly. Wasn't there some under the World Trade Center that was spirited away?
edit on 17-5-2011 by ThirdEyeofHorus because: (no reason given)

posted on May, 17 2011 @ 11:52 PM
why is it that only democrats have sold gold at fort knox

why is it that only one democrat in this nations history consfiscated and made gold illegal to own.

and i am in the camp that there is no gold left at fort knox

between fdr and johnson the cookie jar is empty.

the next logical step is for obama to steal gold from the american public and making it illegal to own.

that is if history is our guide.

edit on 17-5-2011 by neo96 because: (no reason given)

posted on May, 18 2011 @ 10:17 AM
I can see a number of reasons why Ron Paul would support this:

1. To sell the gold, you first have to prove you have it. If in fact the gold isn't there, or was replaced with tungsten, then forget about selling the gold and move on to criminal prosecutions.

2. The gold would most likely be sold on the open market if Ron Paul has anything to say about it, meaning American citizens could benefit by buying their "own" gold back so they can own it for real.

3. Assuming the money earned by selling the gold wouldn't go to the welfare/warfare state (that Ron Paul is opposed to, meaning it wouldn't make sense for him to allocate money towards this) it could be a way of funding the government without raising taxes. And if the gold is sold to the American public it keeps the gold in the country.

posted on May, 18 2011 @ 10:29 AM
Yeah, can't wait for them to open the doors, and see a couple of I.O.U.s from varies administrations.
Maybe an empty coke can, or dead cricket.


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