What occurred to the Fort Knox Gold Reserve audit? Bear in mind when Elon Musk and Donald Trump had been alleged to do an Adin Ross kick-type livestream exhibiting us all of the gold? 99Bitcoins remembers.
As a substitute we solely obtained photos of gold bars and triumphant proclamation the the gold is safe. Actually make you suppose.
For many years, conspiracy theories have swirled across the gold depository; listed below are probably the most believable.
The place is the gold? Is there gold in Fort Knox?
(supply)
Lately, Germany has been contemplating calling dwelling its huge gold holdings parked in New York and Fort Knox, pushed by nervousness over Trump’s tariff methods.
With 3,350 tonnes secured worldwide, Germany is a gold heavyweight, second solely to the US, which sits atop an unmatched 8,100 tonnes. If rising financial insecurity continues worldwide, we’ll know whether or not the gold is admittedly there or not.
Some Germans fear about their gold, saved within the US– After the EU legalising the theft of sovereign funds, it set a harmful precedent for such confiscationhttps://t.co/RedCTq2IVb pic.twitter.com/HSc3l9t7cF
— Glenn Diesen (@Glenn_Diesen) April 5, 2025
The one gold bugs this may burn are those that accepted gold certificates over actual gold, although it’s a constant sample that certificates sellers get grasping and promote extra promissory notes than they’ll honor.
Gold on the whole will dump if that is true.
Then, the scramble for bodily will ship demand and value by means of the roof.
Fort Knox Gold Reserve: Can we audit US gold?
Fort Knox, constructed within the Thirties as a fortress for America’s gold, holds 147.3 million ounces—59% of the Treasury’s provide. A solution to pre-WWII jitters, it’s a concrete and metal enigma. It’s opened its doorways simply thrice—to Roosevelt in ’43, Congress in ’74, and Steven Mnuchin and others in 2017.
The remainder is shadows and hypothesis, strengthened by its closed doorways.
(supply)
The issue with utilizing gold as foreign money is that it’s heavy, which complicates the logistics of transferring cash round. Therefore, the Silk Street – not the digital one – had so many bandits. If we need to make it simpler to transact, then we’ll create a Sort-2 foreign money or a linked foreign money. That’s the Gold Commonplace.
Nonetheless, the most important drawback is that passing round paper cash rapidly creates extra notes in circulation than gold within the financial institution. If everybody tried to redeem on the identical time, there could be an entire lot of individuals holding the bag, actually.
This was the state of the US within the 70’s.
The Fed higher hope Trump doesn’t audit Fort Knox for that particular motive.
If it ever will get out that the complete gold market is smoke and mirrors, this opens the door to options like Bitcoin and different cryptocurrencies.
The Case for Transparency
Audits and assurances are tossed round like confetti, however public belief in Fort Knox stays skinny.
The Treasury swears all of the gold is accounted for, but critics aren’t dropping the difficulty. Formally, Knox’s gold cache stands at $6 billion, due to a near-mythical valuation of $42.22 per ounce. However think about actuality, and that must be nearer to $436 billion. That chasm is the crack by means of which rumors of conspiracy pour.
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Key Takeaways
What occurred to the Fort Knox Gold Reserve audit? Bear in mind when Elon Musk and Donald Trump stated they’d do this.
As a substitute we solely obtained photos of gold bars and triumphant proclamation the the gold is safe. Actually make you suppose.
The put up What Occurred to Fort Knox Gold Reserve? Contained in the Greatest Financial Conspiracy Ever appeared first on 99Bitcoins.
