I I was a guard for a truck that was being used to haul several tons of quarters, back in the days of Video arcades and such. Since the armored car companies wouldn’t take it, the bank had to move it themselves. Large uhaul, two cars, 4 armed guards, 2 drivers, one bank rep. For quarters. :eek:
Yeah, Ron Paul wants all the gold in Fort Knox checked to make sure it’s not just painted fakes.
So the global economic collapse is all Ann’s fault?
I think all the tank brigades have been transferred to Fort Benning. Fort Knox is now mostly a training center. According to Wikipedia, the only active combat unit still stationed there is an infantry brigade: 3rd Brigade Combat Team, 1st Infantry Division.
I’m sure they do. But Dr. No isn’t going to be able to overcome all the troops there and roll in 230 semis to haul it out. He certainly would never get away with it, as that many trucks is a very large and slow moving target.
Plus, they can’t get away fast enough to get away from the Abrams M-1 tanks that are there.
That would be very cool movie though.
That’s why you load the gold in hijacked M1 tanks, and make the soldiers chase you in the trucks.
Can you start a tank without keys?
The silly people are the ones who believe a stable currency can be maintained with fiat money. ALL POLITICIANS LIE! It’s in their nature to promise goodies to various constituents. Gold has thousands of years in providing, at least for longer periods, of stable prices. It’s durable, relatively rare, easy to work with. Eventually politicians figure out how to devalue it, and not run a stable economy.
I don’t go along with the painted bars loonies…they are as stupid as the CIA killed JFK and the 9/11 fools. But at the same time some kind of regular independent audit could and should be done.
Why? What possible good could come from an audit?
If they say the gold is there, people will say it’s still a lie.
Well, that was my point. A gold-standard paper currency doesn’t protect you against currency debasement. It just means they have to control the gold market and make it illegal for private citizens to actually get their hands on gold.
If you think that gold will be a stable store of value in the upcoming years compared to fiat currencies, then as of today you are still allowed to go out and exchange your fiat currency for gold, and put the gold bars anyplace safe.
The history of the gold standard shows that whenever there is a crisis like a war or depression, the first thing the politicians do is stop redeeming paper for gold.
So what’s the difference between a currency that can only be converted to gold when it’s convenient for the government, and a fiat currency? Again, you can covert your paper money to gold today, anywhere in America. There are lots of places willing to take paper money for gold. There is a free market for gold.
If we were on the gold standard, there could never be a free market for gold, because the government wouldn’t allow it.
Fiat currency is exactly the same as gold standard currency, the only difference is that you don’t need the government to redeem your paper, you can do so on the free market. And if the fiat currency starts to collapse relative to gold, well, that’s a feature of fiat currency! It’s a GOOD thing, because it tells people what is happening–the currency is being devalued. We don’t have to pass a law that says an ounce of gold is worth exactly $35, we can let the free market decide how much a dollar is worth.
And if you don’t like it, you don’t have to use dollars as money, except in the rare cases where you have to pay your taxes.
Plus, there’s not enough gold in the world to use it for money.
But arguing with goldbugs is boring- let’s get back to superheroes.
How much can a big construction helicopter carry? Maybe we don’t need to steal “all” the gold in Ft Knox, just a pallet of it.
What are gold pallets made from, anyway? Steel?
All money is fiat money. The value of Gold was fixed, set, by fiat.
The thing is: other than the concern about securing and accounting for government property, so what if there’s X greater or Y lower or Z unnacounted for amount of gold in the vaults in Kentucky or the various FRBs? The value of the money in circulation is NOT tied to the amount of the gold reserves. Hasn’t been in a looooong time.
Actually it was the abandonment of the the domestic gold standard in 1933 that made the possession of more than 2 ounces of gold illegal. Before then it was perfectly legal to own as much gold as you wanted. Indeed, fears that gold hoarders were keeping money out of circulation and thus depressing the money supply was the main reason for abandoning the domestic gold standard.
Do I have to use Fiat money? Can I be paid in Teslas instead? If not, I’d settle for Corvettes.
Beyond the fallacy that gold is a magical store of value (the historical record is pretty clear that currencies are much more stable after abandoning gold standards than before), regular audits and assays of gold necessarily destroy a small fraction of that gold.
The only purpose such regular checks will serve is reducing the amount of gold you wish to preserve. Cursory checks are certainly warranted, just as an inventory check as with all property.
But full assays to verify to quality and audit the gold should also be necessarily infrequent (on the order of decades, if at all) at the very least to prevent destroying the stuff you want to safeguard.
Yes. There is also a duck swimming in it.
Of course! All you need is a few(*) guys to give it a bump start and off you go
- where ‘few’ is some arbitrarily large number
Somewhere in that vault, I hope there is one of these sitting on one of the stacks of gold bars.