A Question on Fort Knox and the Gold Standard

So if the US government really has the largest reserves in the world at Fort Knox (which hasn't been seen by a member of congress in 25 years), why is the US government so opposed to a gold standard?

The implementation of a gold standard CNBC has said would force Gold to go to 10000$ an ounce......well, considering that we supposedly have 8000+ tonnes of Gold....it seems to be slightly advantageous for us to have one of our largest holdings Sextuple in price.....

Makes you wonder if the gold is really there, doesn't it?

 

What about our debt? Are we just going to default like Greece and go into depression while everyone walks around with worthless greenbacks in thier pockets that no one will take?

Going back to the gold standard and defaulting on our debt will make us a pariah. Because there is no possible way in hell we can pay back our debt with gold backed dollars.

The argument of "Well our default is inevitable anyway",etc are simply lame. Gold bugs want to destroy the full faith and credit of the USA.

 

You receive 100 exp for the successful use of your repair skill.

 

Well, multiply 140 million ounces by 10000$ and you'll get your answer to that.

140 000 000 + 5 zeros is 14, 000 000 000 000 is....what do ya know....14 trillion dollars .

If you want to give the gold away, I suppose you could, but I say we tell the Chinese to shove it.

 

..and you think it's really that easy? You think ther will be zero economic ramifications from such an action? You know, like total economic collapse?

..or are you so firm in your ideology that total economic collapse is acceptable to you so long as your principles are met?

 

Hmmm, we would have over 30% of the entire world's money supply and 6.5% of its energy resources........seems to me asides from all the silly people that decided to hold on to ONLY paper assets (whom our government would more likely than not bail out with Gold), our government would be in a pretty advantageous position......unless of course there was no gold.......

But it's fine, if it takes one gold FDIC bailout of all you idiot sheeple (WHO HAD YEARS TO SWITCH INTO HARD ASSETS) to end the banker oligopoly, then I will stand gladly by that. Of course, in order for that to work, we'd actually have to have 140 million ounces of gold.

 

I think you know the answer to that. The government can't print gold.

 

However, they CAN sell or revalue what they have at a price significantly higher than todays!

 

Yea, but once they've spent that, then what? I think they prefer the printing press for a variety of reasons.

 

Default is going to happen one way or another. Either we do it now and save ourselves alot of trouble, or we do it the hard way and default when the dollar hyperinflates...that will cause much more trouble than the former. I guess you are in favor of the dollar hyperinflating.

This is a lie. Gold has historically proven itself to allow the strongest and largest amount of economic growth when it is used as money.

That's why you pay down the debt before you back the dollars with gold.

Nice strawman argument. Care to back that claim up with evidence?

 

Two main reasons. One, they're oversold/traded/stolen (or is otherwise NOT there). Two..accountability would expose most of the fraud of the paper "deals" that maintains the smoke and mirrors of Wall street. Much easier to print up a piece of paper than to actually be held to account to anything. Hence...our wonderful corporate cesspool that is called our economy, and all the criminal activity contained therein.