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Is it time for America to open up Fort Knox?

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posted on Dec, 21 2012 @ 10:31 AM
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In recent fiscal cliff issues, Congress nor the Senate fathom downsizing our current occupation of foreign contendency wars. So to me, the obvious solution is opening up the gold reserves at Fort Knox, and selling them to pay down the debt.


How much gold is at Fort Knox you ask:
The United States Bullion Depository holds 4,578 metric tons (5,046.3 short tons) of gold bullion (147.2 million oz. troy). This is roughly 3 percent of all the gold ever refined throughout human history. Even so, the depository is second in the United States to the Federal Reserve Bank of New York's underground vault in Manhattan, which holds 7,000 metric tons (7,716 tons) of gold bullion (225.1 million oz. troy), some of it in trust for foreign nations, central banks and official international organizations (Wiki).

How much is this worth:
It has been estimated that all the gold mined by the end of 2009 totaled 165,000 tonnes.[2] At a price of US$1900 per troy ounce, reached in September 2011, one tonne of gold has a value of approximately US$61.1 million. The total value of all gold ever mined would exceed US$10.1 trillion at that valuation (Wiki)

Then from there Congress with its wielded power known as the Constitution Article I Section 8:
To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures; tax the entity called the Federal Reserve bank at 6%, or until the debt is paid in full.

So easy a fourth grader could understand.
edit on 21-12-2012 by kingsquirel because: (no reason given)

edit on 21-12-2012 by kingsquirel because: (no reason given)




posted on Dec, 21 2012 @ 10:35 AM
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Any one else picking up what I am laying down with this hypothesis?



posted on Dec, 21 2012 @ 10:41 AM
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All I am hearing is crickets right now. Is this post so obvious that ATS members are like "duh?" Or rather the crowd is thinking long and hard about this obvious solution?



posted on Dec, 21 2012 @ 10:42 AM
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Originally posted by kingsquirel
Any one else picking up what I am laying down with this hypothesis?


Not following along. Please expand on what your intimating.



posted on Dec, 21 2012 @ 10:44 AM
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If the debt were paid off they would just run the tab up again in short order.



posted on Dec, 21 2012 @ 10:48 AM
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Originally posted by Bilk22

Originally posted by kingsquirel
Any one else picking up what I am laying down with this hypothesis?


Not following along. Please expand on what your intimating.


Where i am going with this: Fort Knox was implemented to make sure that America had gold to back its debt. Thus, our national debt has become so severe that we MSM talking about America losing itself off of a fiscal cliff. So why not open the vaults and have Congress tax the entity called the Federal Reserve, so that America does not lose its "SOVEREIGNTY."



posted on Dec, 21 2012 @ 10:48 AM
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reply to post by kingsquirel
 



"tax the entity called the Federal Reserve bank at 6%, or until the debt is paid in full."

So tax the FR at a higher rate than the US is paying in interest? I never understood how the advent of the FR was even constitutional.



posted on Dec, 21 2012 @ 10:48 AM
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most probably blew off your theory as soon as they read ... Congress could wield its Constitutional power.
aren't you aware that they, alongside WWilson, signed that away in 1913 ... see the Federal Reserve for details.



posted on Dec, 21 2012 @ 10:56 AM
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Originally posted by jimmiec
If the debt were paid off they would just run the tab up again in short order.


Yes couldn't agree more. However, The Federal Reserve loses its lease to the United States on. December 23, 2012 projecta... valon.net/forum4/showthread.php?46193-The-US-FED-Reserve-s-99-Year-Lease-On-America-Ends-EXACTLY-on-12-21-2012----

So why is not the American Congress talking about other scenarios, such as "opening the gold at Fort Knox", or taxing the entity called the "federal Reserve?"

Or re-nogiating the Lease?

I am just throwing out ideas, and this one hit me in the grill while observing so many scenarios happening at the moment in current politics.



posted on Dec, 21 2012 @ 10:57 AM
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Originally posted by Honor93
most probably blew off your theory as soon as they read ... Congress could wield its Constitutional power.
aren't you aware that they, alongside WWilson, signed that away in 1913 ... see the Federal Reserve for details.


Read it thanks, and the "Lease" is up in "2" days.



posted on Dec, 21 2012 @ 10:58 AM
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the 'debt' is not real.
neither is the 'gold' in fort knox.



posted on Dec, 21 2012 @ 11:02 AM
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Originally posted by kingsquirel

Originally posted by Honor93
most probably blew off your theory as soon as they read ... Congress could wield its Constitutional power.
aren't you aware that they, alongside WWilson, signed that away in 1913 ... see the Federal Reserve for details.


Read it thanks, and the "Lease" is up in "2" days.

can you 'prove' that theory ?
i believe i can prove it's wrong but you first.

and no, project avalon is NOT proof.
edit on 21-12-2012 by Honor93 because: (no reason given)

ETA - here, i'll even throw ya a bone ... www.abovetopsecret.com... ... ya don't even have to leave the site to find out


THE question now is ... since they have been proven to violate the law, why aren't they already dissolved ?
of course, we all know Congress won't do anything about it but that isn't really the point, is it ?
edit on 21-12-2012 by Honor93 because: add txt



posted on Dec, 21 2012 @ 11:05 AM
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reply to post by kingsquirel
 


It's probably just gold plated lead. Inspecting it is next to impossible. I suppose government does not want to lose it because paper money could become totally useless. A bit like oil, America has enough oil in the ground to last 300 years but we deplete other countries oil so we will have ours when theirs runs out.



posted on Dec, 21 2012 @ 11:16 AM
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Originally posted by tinhattribunal
the 'debt' is not real.
neither is the 'gold' in fort knox.



OP: this is your answer. The debt is all in the mind of the debtor. The debted person convinces the debtor that he/she/they owe the debtee and so are chained to said entity. You are only in debt if you think+affirm you are.

We as a civilization believe so truly that we are that we have given others above us responsibility to force us to our self affirmed debt.



posted on Dec, 21 2012 @ 11:27 AM
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We are trillions in debt, yet there is only $130 billion in Gold at Knox. No matter what is done America is broke.

Think of it like this...

You get paid $3000 a month. Your bills are $300000 a month. Selling all of your assets will do not good. You are bankrupt.

FT Knox



posted on Dec, 21 2012 @ 01:12 PM
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There aint no gold at fort knox.

Wishful thinking as if they will ever use that gold to pay anything down cause if they did there would be no need to raise taxes.

And that aint gonna happen.



posted on Dec, 21 2012 @ 01:18 PM
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Maybe those moths in there are made of gold
There is a chicken in there that lays golden eggs but it hasn't layed in twenty years and the economy already consumed it's eggs.
There is less than a trillion dollars worth there and less than a trillion dollars in the Federal reserve. That is at the present price of gold too. Maybe they can use it to pay the interest on our debt for a couple of years



posted on Dec, 21 2012 @ 03:22 PM
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Well, I guess that I was hoping for a more optimistic response. However, from the looks of things and the posts' guess Fort Knox is just a empty building with gold plated lead blocks now sitting in its inventory? Now I am depressed



posted on Dec, 21 2012 @ 04:31 PM
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Originally posted by neo96
There aint no gold at fort knox.

Wishful thinking as if they will ever use that gold to pay anything down cause if they did there would be no need to raise taxes.

And that aint gonna happen.


Correct. Ive even heard people say it is empty of Gold and that is from a guard that guarded the gold room. The US Sold off all the gold it had a long time ago. Our dollar is backed by DEBT ALONE. Now we could back it again with another commodity....WHEAT. Wheat has been steady for a very long time and about everyone uses it.



posted on Dec, 21 2012 @ 04:38 PM
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reply to post by yuppa
 


People forget the price of gold was fixed when the dollar was tied to it so replacing that with wheat would fix it's price.

Meaning farmers would lose out it would be nice to have money backed by something, but Im not fond of a food staple as that backing.



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