Is there Gold in Fort Knox?

Posted by Martin Armstrong - Armstrong Economics

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u-s- bullion depository

u-s- bullion depository

Is there gold in Fort Knox? That question is completely irrelevant. Why? Will it really make a difference? The stories of no gold in the vault are just spun by people so desperate to support a gold bull market it is just crazy. I was given a tour of the NY Fed years ago and there was gold there. The US started going after the Swiss and threatening to seize their assets here in the USA for hiding Americans with assets. Without fanfare, the Swiss quietly took ALL their gold and moved it out of the USA. The stories spun around Germany were nonsense as well.

Try looking at this dispassionately. This is not the stuff that is going to make gold rise. We do not need this type of tin-foil hat nonsense to create a bull market and it really doesFAR MORE damage than the Goldbugs suspect. People who are not buying gold refrain from doing so because of stories like that. They do not take all these claims seriously and perceive the idea of buying gold as the lunatic fringe when based on stories that cannot be proved.

Gold will rise because it is the HEDGE against government. It is ONE investment that enables one to move their wealth from one medium of exchange (currency) to another when the new one comes down because of fiscal mismanagement. They also tout hyperinflation but both Germany and Zimbabwe could not sell debt so they printed. Advanced societies sell debt today. It is worse because it is printing money that pays interest. Real estate and shares in companies will provide that same mechanism as gold did in the case in Germany. In fact, the new currency to replace the hyperinflation was backed by real estate. But for shares and real estate to survive requires the society to survive or in other words blink BEFORE the Mad Max conclusion.\

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