Federal Reserve Admits: We Have No Gold

reply to post by annonymous1234


We'll figure it out soon enough, but it may already too late, so crack a cold one and relax before we rise up.
Oh, it's gonna happen, I can feel it crawling up and down my spine.
Let's try and make sure everyone's present and on time too, we shouldn't have stragglers, it would look bad

The gold is in an inconspicuous and completely unknown location, many hundreds of feet below.

didnt US seize alot of Libya's and Iraq's Gold? didnt Obama pass a bill allowing seizure of personal Gold?/

The link above is a US Gold Certificate issued in 1934 exclusively to the Fed by the US Treasury. This was done for accounting purposes as a result of Executive Order 6102 which required all US citizens and others living in the US to surrender their physical gold to either the US Treasury or to banks which were part of the Federal Reserve. In turn, these banks surrendered the gold thus gathered to higher level banks, and eventually those banks turned over the gold to the US Treasury. The US Treasury built the Fort Knox Bullion Depository to store all the gold it had 'confiscated' from the American public. In theory, this EO was supposed to be of temporary nature. The idea being that once the US economy was stablilized that the gold could be sold back to the American public in a reverse sequence of what is described above.

However, this never happened.

Instead, the US went directly from Great Depression to WWII, and then into the Cold War, where the western world was bullwarked by a new monetary system called the Bretton Woods system, which allowed foreign nations to exchange dollars for gold but still prohibited individuals from doing so. As the only undamaged western power in the world in 1945, it made sense politically, economically, and ethically. Whatever you may believe, its easy in retrospect to see a conspiracy here, forgetting that aside from the American Revolution and Civil War, that the US was never in greater danger of failing as a nation.

Therefore, as others have said in this string, the Fed does not own any gold by itself (it does hold gold for others in its NY vaults), but instead owns those Gold Certificates pictured above. However, those Gold Certificates no longer carry the legal wieght of claims to actualy gold, based on the same EO cited above, and backed by US Supreme Court decisions in the 1930s. In other words, any US citizen, government, or organization that owns a Gold Certificate issued prior to 1935 merely owns a piece of paper redeemable for the face vaule in other forms of currency, goods or services - NO GOLD though. [Interestingly, if the Fed were to auction off the $100,000 certificates as collector items, they would probably draw over a million each].

As to some persons, wondering why the US would keep 25000 soldiers to guard its gold - well it doesn't really. Fort Knox is also the home base for the US Army Armor Schoold and several units. There is exactly one 'alert' mechnized infantry company that has a rotational duty to back-up security forces at the Bullion Depository if some sort of major event occured which threatened that location. [Yes, others could be summoned if necessary]

Now, as to the other issues raised here concerning whether the gold actually exists at Fort Knox, whether the Fed is maliciously manipulating the economy, whether there are lots of gold plated tungstun bricks circulating around the globe - these are all good questions, each worthy of its own topic thread.

Concerning the value of gold over other items in a survival situation, the arguements made here sort of miss the point. Naturally any object essential to your being able to live to the next day is more important than gold if that is all have. For example, even food and water are second class to a life preserver or a raft if you are thrown into the water miles from shore. So, to those holding gold now, its not a question of either or, its more a question of basic survival items plus gold. Every gold holder I know, has firearms, food stores, and other such things as well as gold. The issue is what if the world doesn't go totally Mad Max? In any scenario short of that, gold will most probably have an economic value that transcends a nation's ability to survive, anything like printed or digital currencies will not [Based on several millenia of historical record.]

Finally, to those who argue against the possibility of a gold standard, I simply say - let's wait and see. Every pyramid scheme eventually fails.

Originally posted by LexiconRiot
Things are speeding up now. Everyday more and more news comes out to make us further distrust the American Government. What is the end game? Who is behind the scenes guiding this pathetic display of corruption. It is my belief that the American people are being pushed towards revolt against the establishment. Both parties spit venom and then commit copious amount of deplorable acts to piss of their own base. The only explanation for this is a coordinated attempt to usurp the government via civil war. At least this is the only end game my mind keeps coming back too. I hope I am wrong.

You are right, and the reason is we are fed up with the "American way". Sure, you guys are the center of the universe, so behave like one or else we will find another....wait, we ARE already finding another one.

Soon America will be just another country, oh well, you reap what you sow

For the gold and money stuff, theres is gold, yes there is, but its lend over for money which and over and over and over and over and over and over and over and over until it become too large, a mere shrink on the original value will have exponential effect on the money.

So, USA have gold, and got lots more money (fiat based) but then, the fiat money already over the gold value originally owned. Run!, you are screwed (can always print more money based on THAT gold though).

eh, could be why the cash for gold crap has been goin around

reply to post by Sashromi


Thanks for repeating the official story now we can all rest easy since we know they would never lie about such things... Oh and I got a good laugh out of Bretten Woods being necassary. To bad most folks have no idea what it is or means...

It is well known that most of our gold has gone as have the usa stores what should be noted here is our need for gold in the first place.
Its a soft metal with no real good quality's apart from it looks nice so the question still stands why have humans since records began have such a high place for such a poor metal.
Diamonds i can understand as having value there strength and uses are endless.

Also the strange way it affects nations like for example all the gold taken by the Nazi during WW2 that's sat in Swiss bank vaults [who knows what other country's have gold stored there after all there was a reason why Switzerland was allowed to remain neutral during WW2]

The increase in gold buying company's is also highly suspect after all i very much doubt that they could pull the same stunt twice and make you give up your gold so instead they try and get you to sell it[usually at a rate much lower than its true worth]
which ever way you look at it the gold has gone somewhere and the rate at which they are trying to grab what gold you might have says to me there has to be a reason why they need it so bad
food for thought.

reply to post by g146541


I can see them , and so can you. You can actually take a tour of The Federal Reserve bank of New York
Gold Vault : Info for Tour Link
www.newyorkfed.org...

There are 540,000 gold bars if you are interested. 28 pounds per bar. At 1500 per ounce that would be ?

Here is another way to visit if you dare: cryptome.org...

ABC news article link abcnews.go.com...

There are ways to test for tungsten.

reply to post by Wildmanimal


Agreed, but if it were me buying there is only one test that would satisfy me.
Smelt and pour, you just don't take someone's word when you are talking that much money.
It seems other bars have been passed for real gold when in fact they were less.

reply to post by Sashromi


I agree, U.S. Dollars might soon be worth more as fuels for a fire to keep warm by then anything it could be traded for, sames true with any fiat currency ofcourse. I've heard recently that SILVER is going to be the upset to the gold collector. Silver is becoming rarer and is used for a very wide spectrum of things. Currently the way I hear it is that theres a lot of paper certs for x-amount of silver that you can own and store at some precious metals holding facility right? ok so you have this cert and its for the value of the amount of silver your purchasing and you think its like already mined and smelted and made into a nice little unit right? Not necessarily. some of these certs are on productionary delay and thats the hook. theres alot of "purchases" made well in advance of the production and the companies doing it just keep lining up buyers. So your actually buying silver yet to be refined and processesd...Yet to be mined even! Theres alot of these types of sales going on and this is what is going to make silver the next gold, it will by the time silver orders are caught up be much harder to mine, demand will go up and so will cost-BAM. What do you think of that possibility I am interested to hear your thoughts on it....

"The Federal Reserve banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the International bankers."

- Congressman Louis T. McFadden (Rep. Pa).

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Originally posted by smartbuddy
I read an interesting article recently that breaks down the ownership of the FED. It's basically owned by the six big banks in the U.S. Those six banks also have large shares in all fortune 500 companies, sometimes the controlling share. This article also broke down, how it is only 8 families who have the majority of stock in the banks. So basically we have 8 families that own the banks, own the FED, and run the fortune 500 companies.

Link to the article :www.globalresearch.ca...

edit on 7-6-2011 by smartbuddy because: (no reason given)

great post..just sort of curious why I can't star you..and why there is no other info under your member name ?

I understand the title of this thread is rather alarmist; however, can someone explain to me why this is such a problem? The US is not bound by the gold standard and has not been for many years - it is dramatically impractical for the 21st century, not to mention illogical. The total amount of gold ever mined -- in all of time -- is less than the circulating value of US currency today alone. Tying US currency to the gold standard would cripple the US government's ability to stage economic interventions to save US jobs -- I know that some don't take kindly to governments creating economic policy; but the bottom line is that without government intervention to improve the economy our country would have failed many times over by today. Indeed, every developed country in the world has made economic intervention a #1 priority, given the fact that if the government does not assist in creating jobs, the country's infrastructure will be destroyed by unemployment, an increase on the use of social welfare services, a lack of education, etc. While "going Galt" might seem like an attractive idea to some simpletons, the fact is, in the reality based world, 95% of Americans would never want that to happen, and it never will happen, simply because that's not how things work. If you want anarchy and a total lack of government, I suggest moving to Somalia.

Al the gold from Fort Knox and other biggest Treasuries in a world is fake.All those bars are tungsten filled and just spoiled with gold.
See this videos:
www.youtube.com...
www.youtube.com...
www.youtube.com...
Looks like is ready for shipping to Nibiru?

Originally posted by djcarlosa
Its a soft metal with no real good quality's apart from it looks nice so the question still stands why have humans since records began have such a high place for such a poor metal.
Diamonds i can understand as having value there strength and uses are endless.

Gold has an industrial use as a non corroding electrical conductor. Ask electronics recyclers how much the 1970s 1980s electrical circuit boards contain and you might raise an eyebrow. Part of the reason in 1970 a home computer cost 8K was that and labor.

Originally posted by djcarlosaIts a soft metal with no real good quality's apart from it looks nice so the question still stands why have humans since records began have such a high place for such a poor metal.
Diamonds i can understand as having value there strength and uses are endless.

Humanity has been obsessed with it for a long time for a number of reasons.

First of all, it is rare but not too rare. It can be found in its natural form. In fact, it was one of only a handful of metals known to mankind until only a few hundred years ago.

It is, as you say, very soft, but this is part of the reason it has become so important. It is malleable ("soft") enough to be worked with relatively simple tools. It is too soft to be put to a more practical use, so it became largely decorative. It is also highly resistant to corrosion or tarnishing, making it ideal for important jewellery. While gold has many other qualities, the people of antiquity would probably not have observed or known about them.

Gold is only a "poor" metal if you consider the only value of metal to be in its strength, or ability to hold an edge. Something like steel is no good until you have developed the techniques to manufacture it and, perhaps more importantly, the tools and techniques to work with it. For a developing culture, gold was likely to be far more practical to work.