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Stock Ideas Top Headlines The Ghost of Fort Knox Past: Part 3
Stock Ideas Top Headlines The Ghost of Fort Knox Past: Part 3 
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NLR broke out to the upside. Next test is 36, then on to 45! Uranium was once white-hot, but it’s so cold now you could use it to chill a six-pack of beer.That seems to be changing, though. Just look at the action in the Market Vectors Global Nuclear Energy ETF (NLR). |
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| The Ghost of Fort Knox Past: Part 3 |
| Wednesday, 17 October 2007 | ||||||||
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Dear Reader, Does Ft. Knox contain the historical gold it claims? Gold no longer backs our circulating money. Still, those who hold fiduciary responsibilities to safeguard our gold are the ones who actually do issue our money. If you can’t trust them with the gold, how can you trust them with the money? As best I can tell at the present time, the Federal Reserve presently owns the gold that is or isn’t in Ft. Knox. Not the Treasury and not U.S. citizens! Future articles will deal with this subject. You can be well assured the Fed is scared witless that its mishandling of this globally recognized treasure might just become common knowledge. Toss the Fed? Is that possible? Sure it is. The Constitution demands it. So do their many decades of total mission failure. They were charged with price and monetary stability when chartered in 1913. Check out a chart of the dollar’s purchasing power over the last 95 years. Does it take an entire century to recognize such a colossal failure? Where do you apply for that job?
Last week, I demonstrated how the U.S. government has uneconomically dumped some five billion ounces of silver over the last 50 years. This week, we’re going to look into the many allegations that President Lyndon Johnson long ago squandered our national gold treasure. Once again, this topic is deserving of a book. A series of articles hardly scratches the surface. Let’s start with the official denial from Ft. Knox authorities that the gold has ever been compromised. From the United States Bullion Depository at Ft. Knox:“The security around the Depository has in part led to a popular and recurring conspiracy theory, as alleged by Edward Durrell, Tom Valentine and others, that claims that the Vault is mostly empty, with most of the gold in Fort Knox removed to London in the late 1960s by Lyndon Johnson. Additionally, audits of the gold by the General Accounting Office (in cooperation with the United States Mint and the United States Customs Service in 1974 and the Treasury Department) from 1975-81 found no discrepancies between the reported and actual amounts of gold at the Depository. Approximately ten percent of the bullion is audited annually to ensure the amount and purity matches official records. The theory continues to persist, however. In 2007, KPMG will carry out an independent audit.” Another gold investigator happened to be a 22-year U.S. Congressman from Kentucky. In fact, Ft. Knox was in his district. He also claimed gold was being taken out secretly at night. His affidavit can be found in the Beter link above.As you can see, the clear claim is that it was President Lyndon Johnson who supposedly squandered the massive gold hoard in Ft. Knox. LBJ is not exactly known as our most honest President (see Gulf of Tonkin and Vietnam). Did he also lie about U.S. gold? The most recent work demanding an independent audit comes from the honest money and market advocates at the Gold Anti-Trust Action Committee (GATA). From a 9/19/07 news release: I’ll be the first to admit that this Ft. Knox gold trail is about as winding and murky as it could get. We’ve just spanned four decades of controversy. Will the truth ever be known? I think it will in the near future. The global fiat money system is now centered on the U.S. dollar. This structure is collapsing and will have to be replaced sooner or later. The gold of Ft. Knox will either come to the forefront at that time or it will disappear into a black hole. It’s possible the dollars you hold are still as good as the gold in Ft. Knox. But that might not be saying much. Invest resourcefully, Rusty P.S. To let me know what you thought of today's article, send an e-mail to: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it Source : Excerpted from Investor's Daily Edge
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