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Federal Reserve Admits: We Have No Gold

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posted on Jun, 7 2011 @ 11:47 PM
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Maybe they could issue certificates instead at the Olympics?




posted on Jun, 7 2011 @ 11:58 PM
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reply to post by guessing
 



Originally posted by guessing

Originally posted by tooo many pills


The U.S. is the fourth largest Gold producing country in the world. South Africa, Australia, and Canada are all in the top 7 gold producing countries, so if we needed we could get it back.



edit on 7-6-2011 by tooo many pills because: (no reason given)


What exactly do you mean " so if we needed we could get it back"

if it is what i think it is, thems fighting words...


Well we could get some from Libya, but I didn't mean fight those countries.

I meant the U.S. still produces a lot of gold if we really needed to replenish our reserves our government could buy it all up, nationalize it somehow, step up a front company to control it all, or start mining for it on all the federally owned land. South Africa, Australia, and Canada are all crown colonies with tons of gold that are our allies, we could work out a trade deal for it… probably military weapons, chemicals, or black gold.

Hell I wouldn’t put it past them from trying to tax other countries because we keep them safe from terrorists. LOL... worst idea I ever heard, they are sure to try it now that I said it.

If we really don't have a single bar of golden bullion left in our reserves then they either don't give a s*** about it, or are intentionally trying to crash our country.

edit on 7-6-2011 by tooo many pills because: (no reason given)



posted on Jun, 8 2011 @ 12:05 AM
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reply to post by Wildmanimal
 


Holy cow!!
That is alot!
How many gold plated tungsten bars is that?



posted on Jun, 8 2011 @ 12:09 AM
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Well this is a hard thread to explain to my 9yr old son! He can't seem to figure out the difference between gold standard and fiat money. I am trying to explain fractional reserve banking and why gold is real currency. S&F for the video and someone should compile all of these type of videos together and make a documentary! Seems that we, the american people only get a nibble of information at every hearing and a lot of run around but if they were all played back to back a person could figure it out by what we are being told and not told



posted on Jun, 8 2011 @ 12:46 AM
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It's called a fiat money system and most if not all of the world is using it. They all agreed to this some time ago I'm thinking more like the 30's but yeah our money is only worth what we think it is. Cheers
Fiat Money
edit on 8/6/2011 by basilray because: (no reason given)



posted on Jun, 8 2011 @ 12:53 AM
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Ummmm, you people do realize that the Federal Reserve not having any gold and the United States of America not having any gold are two very, very, very different things, right? The Fed is not a part of the U.S. gov. It's an independent bank, not even an agency, but with a high degree of U.S. oversight.

The gold holdings at Ft. Knox were never 'owned' by the Fed Res, although it's carried as an asset on the Fed's balance sheet (I'm not 100% sure why, and it's balance value is artificially low value-wise). So the Fed saying 'we have no gold' does NOT mean there is no gold at Ft. Knox.

The Fed is NOT the U.S. of A. Don't sweat this.

There *might not* be any gold there anyway, who knows, but this statement by the Fed means nothing.



posted on Jun, 8 2011 @ 01:33 AM
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reply to post by SecretGoldfish
 



The Fed holds gold certificates for the gold the treasury supposedly has which means they own the alleged gold. So yes this is significant. Also the fed is a quasi government agency given complete power over the monetary system by the US congress.
edit on 8-6-2011 by hawkiye because: (no reason given)



posted on Jun, 8 2011 @ 01:43 AM
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Originally posted by OptimusSubprime
reply to post by hawkiye
 


Don't get me wrong, because I detest the Fed, but it is certainly a conflict of interest for the Fed to own gold and control the money supply. Considering that the Fed can create inflation at will, they could by default create an increase in the price of gold, then cash it in and then raise interest rates to combat the inflation and bring the price of gold back down. Then buy more and the cycle repeats. Now there's a conspiracy for you.


I got news for you they are lying they would be the only central bank on the planet that does not have gold. What you describe is exactly what they do! But they don't want us to know they have gold because we might rise up one day and take it back since all the wealth they have was derived from what the stole from us originally.



posted on Jun, 8 2011 @ 01:57 AM
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i wouldnt trust anything these crooked bastard cronies have to say. why in sam-hell would i believe they have no gold??? obviously theyre hiding what they have, dont be so naive people.



posted on Jun, 8 2011 @ 02:07 AM
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reply to post by miniatus
 





The original post and the subsequent responses talk about how the fed admits it has no gold and people are stunned at this amazing revelation.. this is the part where we need to deny ignorance.. this thread is bunk for the simple fact that the federal reserve is not responsible for our gold reserves.. so the thread is pointless..



You should try reading the whole OP and comments before commenting. I already addressed this in my original comments and then in subsequent posts making your posts the ones that are pointless. You are the one speaking in ignorance.


reply to post by TheReturnisNear
 




So if the Fed took their gold and gave it to the Treasury for an IOU worth 43.00 per oz. then why doesn't Ron Run at the Mouth Paul, ask the Treasury how much gold they have and where they keep it?


He has been for 30 years and they have been stonewalling him the whole time do some research and learn.



They basically sat there. Allowed Ron his campaign speech, then got up after basically saying or implicating themselves NADA and then went and ate an expensive lunch while laughing at Ron Paul.


Yes of course how stupid of him if he just asked them the right questions they would willingly implicate themselves in nearly a hundred years of theft and plunder of the people of the United States of America... Yeah what was he thinking... Sigh!





There isn't enough to make up the 60 trillion dollars in unfunded obligations of US citizens.


Economics 101; prices always adjust to the amount of currency in circulation. There does not need to be the same amount of gold in current highly inflated dollars to match 60 trillion... Here is a hint ever wonder why things that cost 10 cents 80 years ago cost $7-9 today?



edit on 8-6-2011 by hawkiye because: (no reason given)



posted on Jun, 8 2011 @ 02:10 AM
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Of course gold doesnt mean #, anyone who is paying attention knows that, anyone who isn't i'm sorry for the kids you're trying to raise but you know that in advance so it's your own fault



posted on Jun, 8 2011 @ 02:24 AM
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Originally posted by tooo many pills
reply to post by guessing
 



Originally posted by guessing

Originally posted by tooo many pills


The U.S. is the fourth largest Gold producing country in the world. South Africa, Australia, and Canada are all in the top 7 gold producing countries, so if we needed we could get it back.



edit on 7-6-2011 by tooo many pills because: (no reason given)


What exactly do you mean " so if we needed we could get it back"

if it is what i think it is, thems fighting words...


Well we could get some from Libya, but I didn't mean fight those countries.

I meant the U.S. still produces a lot of gold if we really needed to replenish our reserves our government could buy it all up, nationalize it somehow, step up a front company to control it all, or start mining for it on all the federally owned land. South Africa, Australia, and Canada are all crown colonies with tons of gold that are our allies, we could work out a trade deal for it… probably military weapons, chemicals, or black gold.

Hell I wouldn’t put it past them from trying to tax other countries because we keep them safe from terrorists. LOL... worst idea I ever heard, they are sure to try it now that I said it.

If we really don't have a single bar of golden bullion left in our reserves then they either don't give a s*** about it, or are intentionally trying to crash our country.

edit on 7-6-2011 by tooo many pills because: (no reason given)


lol We Australians dont need anything the US can offer.



posted on Jun, 8 2011 @ 02:28 AM
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reply to post by zookey
 



They need gold to give to the aliens!

Why would aliens need gold?

Its the most stable metal.
It lasts pretty much forever. Its malleable and does not corrode over time.
Its super reflective.
Its a great conductor of electricity.
And gold's magnetic properties on the nanoscale is really useful in nano devices.

I also remember hearing it from somewhere that gold can shield off radiation in the atmosphere or something.
It might be also very well that earth is one of the few planets that has gold!



posted on Jun, 8 2011 @ 02:31 AM
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reply to post by hillynilly
 


So we the taxpayers are paying 25,000 men to guard... air?



posted on Jun, 8 2011 @ 02:39 AM
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Originally posted by guessing

Originally posted by tooo many pills


The U.S. is the fourth largest Gold producing country in the world. South Africa, Australia, and Canada are all in the top 7 gold producing countries, so if we needed we could get it back.



edit on 7-6-2011 by tooo many pills because: (no reason given)


What exactly do you mean " so if we needed we could get it back"

if it is what i think it is, thems fighting words...


It means we can mine more. Nothing malicious about that comment.



posted on Jun, 8 2011 @ 02:44 AM
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reply to post by LexiconV
 


When and if the economy crashes, it would be more valuable and prudent to have hunting and gathering, trapping and killing skills and implements to execute these skills than to have any amount of gold.
If I can kill a person trying to take my seemingly worthless gold, then I can now feed my entire party without having to forfeit my gold.
Gold shall only twinkle in the eyes of man because man seeks that which gives them any kind of power over any other.
I will hold onto gold for its perceived value, yes, but only because it is commonly accepted that gold is nice and useful for a means of exchange.
Other than that, I feel as though gold and other 'precious metals', are much like pond stones: very neat-o, so shiny and smooth.



posted on Jun, 8 2011 @ 03:47 AM
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Originally posted by AnimusInvictus
reply to post by LexiconV
 


When and if the economy crashes, it would be more valuable and prudent to have hunting and gathering, trapping and killing skills and implements to execute these skills than to have any amount of gold.
If I can kill a person trying to take my seemingly worthless gold, then I can now feed my entire party without having to forfeit my gold.
Gold shall only twinkle in the eyes of man because man seeks that which gives them any kind of power over any other.
I will hold onto gold for its perceived value, yes, but only because it is commonly accepted that gold is nice and useful for a means of exchange.
Other than that, I feel as though gold and other 'precious metals', are much like pond stones: very neat-o, so shiny and smooth.


Those currently holding PMs (precious metals) are doing so on the chance that the economy "lightly" crashes. What you are prepared for is complete economic collapse and full NWO implementation. The gold bugs are preparing for a kinder gentler variation on the theme. The gold bugs are banking (pardon the pun) that TPTB, after the current milking, will continue with the post WWII charade for another half century or so.

Remember the POTUS telling us a couple years back he would 'spread the wealth around.' I think that was a reply to "Joe the Plumber". That was double-speak for 'we're not done milking you of your savings and power' and 'Lost your retirement savings? You ain't seen nothin' yet'. Barry was prepping us for more wealth funneling to the banksters in the guise of sharing the pain to help America recover. Some people, gold bugs for example, think the chance is still there that the banksters will actually let America recover. So with that premise, PMs typically/historically retain their purchasing power while paper dollars are being devalued like now by "Uncle Bennie". Yes, you also have to find someone who will accept your PMs and as we've seen, that could be changing.

Gold, Silver Now Legal Tender in Utah

At Least 10 States Have Introduced Gold Coins-As-Currency Bills

Time will surely tell with that. There is no good alternative right now for building or simply maintaining your wealth in paper. Stock markets are being propped up and on the verge of tanking while the BOA will give you what percentage on a CD? I've seen 0.5% for 12 months on a minimum of $10,000 for example. That's not even maintaining, that's going backwards with the pedal floored.

There are no good answers as none of us knows how this will all shake out. We can only make our best guesses.



posted on Jun, 8 2011 @ 05:20 AM
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Fabulous! I read somewhere, sorry this was years ago, an article describing how taxes were illegal and the article worked in how the fact that we didnt have any gold had alot to do with it. Now I am going to have to find that article!

WE as AMERICANS need to DEMAND and audit from the US Treasury!! This has huge implications!!!

S&F



posted on Jun, 8 2011 @ 05:32 AM
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Originally posted by metalpr
reply to post by hawkiye
 


so what are we hiding at Fort Knox?


Bin laden.

Dont you people know, we most likely sold our gold to that crazy "we buy gold" guy on tv. he was offering some sweet deals on it.. So the feds cashed in.. wouldnt you, if you had other peoples gold?



posted on Jun, 8 2011 @ 06:07 AM
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Originally posted by anumohi

Originally posted by TheReturnisNear

Originally posted by anumohi
no, you don't seem to understand that the federal reserve runs this country lock stock and barrel.
if you think for one minute that they don't control the gold you really are just ignorant and naive

There IS NO FREAKING GOLD. If you add up all the gold bars anywhere in circulation in the world I bet it is at about 5 trillion US dollars. Get off the gold thing. There isn't enough to make up the 60 trillion dollars in unfunded obligations of US citizens.


back to being ignorant and naive again are we


there is ungodly amounts of gold in this country being mined out by the ton daily all over the US and alaska. most of its still intact under the ground being coveted by the government...where do you people come from????? CANADA??? AUSTRALIA, ENGLAND


Surprise but the antimineing treehuggers are closing mine in the US faster then they can open.

On Calif there are no fully active gold mines. dredging has been outlawed and the last and oldest active underground mine the 16 to 1 mine is being sued for fake pollution. from a mill that was closed years ago.
www.origsix.com...

The mine I was superintendent was closed in 2003 because of state and federal regulation and permit costs.

For a 5 man mine it cost over $5000 just for the explosives permits. We only used $8000 of explosives a year
And any treehugger could sue us for anything at anytime with no proof we were doing anything wrong. all they had to do was file the court papers then the mine had to prove they did nothing wrong.

there is ungodly amounts of gold in this country being mined out by the ton daily all over the US and alaska.
That was 20 to 30 years ago. most of those mines are closed now.

edit on 8-6-2011 by ANNED because: (no reason given)



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