Gold in the US , Fort Knox, is suspect.
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Gold is reported to have been missing or misappropriated .
Only Live Science.com says it is there.
No other verification.
Read this.
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Most of the official gold reserves must be located in the Fort Knox vault, which was expressly built before the Second World War. It accumulated the gold bought for $20.00 per troy ounce from individuals and companies all across the US according to a decree issued by President Franklin Roosevelt. Most of the gold came from the banks comprising the Federal Reserve System (FRS) and they received the so-called gold certificates, which in turn were declared in their balance sheets. Some call this a coercive buyout of metal but was actually a confiscation of gold. Upon completion of the operation the price of gold was revised at $35.00.
There were no regular controls over the American gold since the beginning of the 50’s. There were only some random checks. After the closure of the «gold window» in the early 70’s (suspension of gold for dollars convertibility), it was decided to audit the reserves. Some random audits were carried out between 1974 and 1986, and were suspended following pressure exerted by the Inspector General of the Department of Finance.
Doubts about the availability of the US gold reserves have been growing in the USA and other countries for the last 10-15 years. The following versions are being discussed:
1. The American Treasury’s gold remains in place, but since it’s subject to various transactions (i.e. instrumental as collateral), it currently does not belong to the Treasury.
2. The gold from the official treasuries is no longer in the depository (not in full as listed in the Department of Finance’s accountability). It was moved following sale, leasing and credit operations.
3. There actually are gold bars in the reserves which correspond to the quantities accounted by the Department of Finance, but they are all or partially fake gold bars. In order to hide the illegal removal of the gold, the real bars were replaced by fake ones made of tungsten.
4. The gold in the official reserves does no longer belong to the Treasury, it has been returned to the banks (from which it originated in the 30’s). The US government borrowed such large sums from the FRS member banks, that the Treasury was forced to repay in gold.
Many critics of the FRS note that the Federal Reserve and the US Treasury are communicating vessels, and the official gold reserves formally belonging to the government, are in fact under control of the banksters.
2. The Congress of the USA calls for a gold audit
Those who initiated procedures for an audit of the US’s gold reserves are working on two fronts: they are demanding for an audit of the Federal Reserve and of the Treasury of the United States. There were several attacks on the Federal Reserve following the first wave of the financial crisis. In the middle of 2012, the United States House of Representatives supported a draft bill for a full audit of the Federal Reserve. But the bill hasn’t been passed, since the banking community motivated against the audit has many allies in the US Senate. There might be a leakage of secret information regarding their cooperation with the Treasury for an illegal use of the gold reserves, including a secret allocation by the Federal Reserve of $16 trillion to major American and foreign banks during the last financial crisis.
According to some critics of the Federal Reserve, the money rulers of the US have set aside any possible discretion and have forsaken any secrecy in their illegal operations… Here’s one such good example. In 2004 and 2005, the Treasury accountability determined the gold reserves as worth $10,924 million (the official cost of the gold is still based on the 1973 cost, in round figures at about 42 per troy ounce). But the consolidated balance sheet of the Federal Reserve lists its gold certificates as worth $11,036 million. Such discrepancy is not acceptable; the net worth value of the gold reserve has to coincide with the volume of the gold certificates. This arisen inconsistency of $112 million is a contravention of the Gold Reserve Act. Even though the money rulers have restored the 2006 balance (having noticed their bungle), a feeling remains that the banksters are busy pursuing illegal gold transactions.”
Fake Gold in Fort Knox?
It’s one thing to counterfeit a twenty or hundred dollar bill. The amount of financial damage is usually limited to a specific region and only affects dozens of people and thousands of dollars. Secret Service agents quickly notify the banks on how to recognize these phony bills and retail outlets usually have procedures in place (such as special pens to test the paper) to stop their proliferation.
But what about gold? This is the most sacred of all commodities because it is thought to be the most trusted, reliable and valuable means of saving wealth.
A recent discovery — in October of 2009 — has been suppressed by the main stream media but has been circulating among the “big money” brokers and financial kingpins and is just now being revealed to the public. It involves the gold in Fort Knox — the US Treasury gold — that is the equity of our national wealth. In short, millions (with an “m”) of gold bars are fake!
http://www.infowars.com/fake-gold-bars-in-bank-of-england-and-fort-knox/
http://www.globalresearch.ca/us-gold-reserve-audit-show/5326810#
The point is there is evasion and uncertainty about the Gold in Fort Knox.
If Nations cheat the International Monetary System how does one expect the world Currencies to be stable?
The purpose of the series of posts is talk about Falling Indian Rupee and not US malpractices.
Therefore I leave this at that and proceed on Indian Economy to-day.
continues..
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Read this from the Link:
AUDIO LETTER(R)” is a registered trademark of Audio Books, Inc., a Texas corporation, which originally produced this tape recording. Reproduced under open license granted by Audio Books, Inc.
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This is the Dr. Beter AUDIO LETTER(R), 1629 K St. NW, Washington, DC 20006.
Hello, my friends, this is Dr. Beter. Today is December 27, 1981, and this is my AUDIO LETTER(R) No. 70.
Topic #3–
For eight years now the powers that be here in America have kept a blackout on the covered up FORT KNOX GOLD SCANDAL in our allegedly free press, but outside the United States there is a new upsurge of journalistic interest in what has happened to our gold.
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