Musk might audit fort Knox. Anyone know what would happen if they pegged the price of gold to a different number? Also, it looks like the metals are finally hitting some higher numbers for the first time in 10+ years.
And again, I'll point out that there are pics of loaded 5 ton military trucks leaving Iraq loaded with big ass ancient gold bars. Where did it go? Who did it benefit because it sure as hell didn't help the American people.
You are missing the gold certificate scam. Some non-profit or whatnot did an analysis. Their conclusion is that there is ridiculously more gold certificates out there than all gold possibly mined. So missing gold is only a small part of the problem.
The moral of the story is that if you buy gold, make sure you actually have it. And be wary of large bars with tungsten in them as @KosherHiveKicker mentioned.
E: This is also why gold isn't as high as it should be. The "market" is flooded with fake certificates.
The London Gold Fix is a process that sets the price of gold twice each business day at 10:30 AM and 3:00 PM London time, in United States dollars (USD).
5 banks get together and "Fix" the gold price. its entirely fraud.
You asked "Anyone know what would happen if they pegged the price of gold to a different number?"
I answered. They "peg" the price of gold to a different number two times a day. Nothing happens. You and I are are still defrauded, faster or slower.
In summary, the price of Gold is fraudulent. There is no such thing as "pegging" the price of gold to a different number. That "different number" is always fraudulent.
In a free market, the market decides the price. The current gold market is entirely corrupt. Moreover, in a free market, federal reserve notes would fail, the price of gold would never be "pegged" to a number of FRN's. That is fraud. Conversely, a country could "peg" its currency to the mass of gold it holds in its national bank. This was in fact how the US Treasury worked prior to the creation of the Federal Reserve and its FRN's in 1913. Silver Certificates and Gold Certificates (money) were replaced by FRN's (Counterfeit money) in 1913. Counterfeit because it is illegal per US Constitution Article I, Section 10, Clause 1.
In an honest world, everything material or service would be pegged to ounces of gold. ie "This tailored and fitted three piece formal suit will cost you 1 oz of gold." Gold is the denominator.
Gold value, in effect, would be based on the energy required to mine, refine and strike a 1 oz coin. In other words, the value of the suit above is equivalent to the energy necessary to create a 1 oz gold coin.
Today Elon even said he wants to livestream it. Sounds like a very bad idea to me. Unless, of course they also livestream the military deployment into World Bank, Bush family and/or Vatican, to retreive it.
I would enjoy watching live a military tribunal after we got the gold back.
Feels like they're being baited into publicly destroying the USD; if they unintentionally represent we're bankrupt the house of cards falls down and they roll out the dystopian novel e-currency.
Really depends on what you mean by gold. Most people don't have physical gold in their house so they're really talking about claims against gold through some brokerage or something like that. My guess is that if they start auditing it and prove that most gold doesn't really exist that the value of everybody's claims against gold goes to almost nothing. Because they're not really claiming the gold they're climbing what somebody says is gold that they have which a fort Knox audit will prove vast majorities of which don't really exist. Now for people who actually have gold in their house they have to pull the brick out and then have to prove to somebody that it was gold and not tungsten and then they'd have to figure out a way to sell somebody that gold and selling it to your neighbor is not going to give you the highest price you've got to be able to sell it to a bigger market but how do you prove to that market that it's real gold and then ship it to him etc etc. So I think it really destroys the utility of gold as an easily sold and leveraged commodity.
This is why Bitcoin is doing so well it's because it's easily verifiable from anyone's home computer.
The bank of England's gold storage vault literally had a sewer pipe connecting to it that was so large a man could crawl into the gold vault at any time. I posted that about a week ago here. So people had access to the supposed gold bars in the Bank of England's gold vault for more than 50 years. Plenty of time to crawl in there and substitute any tungsten bars they wanted. And now of course the bank of England is having trouble supplying gold to the people who are demanding their gold back.
Got it. So people are trying to move gold because of terrif threats. If there are terrifs on commodities, the price of trade goes up, hence the recent bar movement. Of course, there is the regular manipulation going on as well. Paper market, fake bars, no audits, gold fix...
[ + ] KosherHiveKicker
[ - ] KosherHiveKicker 10 points 2 monthsFeb 17, 2025 23:20:29 ago (+10/-0)
- https://www.usgoldbureau.com/news/post/gold-investors-warned-watch-out-fake-tungsten-gold-bars
Imagine having 50 years of unrestricted, unsupervised access to the Fort Knox deposits and be able to "salt" those bars with Tungsten.
[ + ] HonkyMcNiggerSpic
[ - ] HonkyMcNiggerSpic 6 points 2 monthsFeb 17, 2025 23:57:43 ago (+6/-0)
[ + ] ZZ11YY22
[ - ] ZZ11YY22 3 points 2 monthsFeb 18, 2025 01:57:45 ago (+3/-0)
[ + ] BushChuck5002
[ - ] BushChuck5002 -1 points 2 monthsFeb 18, 2025 08:02:27 ago (+1/-2)
A fake gold bar is a; glitter brick, shiner, yellow jacket, lead loaf, brass brick, or a gilded goose.
[ + ] GrayDragon
[ - ] GrayDragon 4 points 2 monthsFeb 18, 2025 05:16:35 ago (+4/-0)*
The moral of the story is that if you buy gold, make sure you actually have it. And be wary of large bars with tungsten in them as @KosherHiveKicker mentioned.
E: This is also why gold isn't as high as it should be. The "market" is flooded with fake certificates.
[ + ] Special_Prosecutor
[ - ] Special_Prosecutor 3 points 2 monthsFeb 18, 2025 01:54:55 ago (+3/-0)
5 banks get together and "Fix" the gold price. its entirely fraud.
[ + ] MaryXmas
[ - ] MaryXmas [op] 0 points 2 monthsFeb 18, 2025 07:19:06 ago (+0/-0)
[ + ] Special_Prosecutor
[ - ] Special_Prosecutor 1 point 2 monthsFeb 18, 2025 16:33:42 ago (+1/-0)
I answered. They "peg" the price of gold to a different number two times a day. Nothing happens. You and I are are still defrauded, faster or slower.
In summary, the price of Gold is fraudulent. There is no such thing as "pegging" the price of gold to a different number. That "different number" is always fraudulent.
In a free market, the market decides the price. The current gold market is entirely corrupt.
Moreover, in a free market, federal reserve notes would fail, the price of gold would never be "pegged" to a number of FRN's. That is fraud. Conversely, a country could "peg" its currency to the mass of gold it holds in its national bank. This was in fact how the US Treasury worked prior to the creation of the Federal Reserve and its FRN's in 1913. Silver Certificates and Gold Certificates (money) were replaced by FRN's (Counterfeit money) in 1913. Counterfeit because it is illegal per US Constitution Article I, Section 10, Clause 1.
In an honest world, everything material or service would be pegged to ounces of gold. ie "This tailored and fitted three piece formal suit will cost you 1 oz of gold." Gold is the denominator.
Gold value, in effect, would be based on the energy required to mine, refine and strike a 1 oz coin. In other words, the value of the suit above is equivalent to the energy necessary to create a 1 oz gold coin.
[ + ] allAheadFull
[ - ] allAheadFull 2 points 2 monthsFeb 18, 2025 01:17:23 ago (+2/-0)
https://www.ndtv.com/world-news/us-banks-are-flying-gold-worth-billions-of-dollars-from-london-to-new-york-heres-why-7731024
IIRC someone looked in there in the 70's and the gold they saw looked like it was mixed with copper based on the color.
[ + ] TheSimulacra
[ - ] TheSimulacra 2 points 2 monthsFeb 18, 2025 01:24:23 ago (+2/-0)
You wont be able to get it anywhere near current prices, if at all, if its missing from Fort Knox. Or if the exchanges break.
It is fascinating how excited people are to find out we are totally fucked.
[ + ] observation1
[ - ] observation1 2 points 2 monthsFeb 18, 2025 05:18:27 ago (+2/-0)
I would enjoy watching live a military tribunal after we got the gold back.
[ + ] letsgetit
[ - ] letsgetit 1 point 2 monthsFeb 18, 2025 05:23:46 ago (+1/-0)
[ + ] observation1
[ - ] observation1 1 point 2 monthsFeb 18, 2025 05:09:15 ago (+1/-0)
[ + ] Crackinjokes
[ - ] Crackinjokes 0 points 2 monthsFeb 19, 2025 01:02:10 ago (+0/-0)
This is why Bitcoin is doing so well it's because it's easily verifiable from anyone's home computer.
[ + ] Crackinjokes
[ - ] Crackinjokes 0 points 2 monthsFeb 19, 2025 01:00:12 ago (+0/-0)
[ + ] duke_cannon
[ - ] duke_cannon 0 points 2 monthsFeb 18, 2025 13:39:51 ago (+0/-0)
[ + ] MaryXmas
[ - ] MaryXmas [op] 0 points 2 monthsFeb 18, 2025 08:20:55 ago (+0/-0)
[ + ] Anus_Expander
[ - ] Anus_Expander 0 points 2 monthsFeb 18, 2025 08:06:53 ago (+0/-0)