So, then, HOW is possible to get an OFFICIAL audit? What's going on? If Congress does NOT want it, then it seems we are stuck with B.S. Thus conspiracy theories galore!!
And why then do "they" not use the present value of gold, or a range of gold prices, so that we might be closer to the truth. I imagine we will never know unless there is a financial RESET, and maybe even then not know also. The Creature from Jekyll Island is about all we have, no? And what gives with JPMorgan and Jamie Diamond??? FIVE criminal CONVICTED cases and a slap on the wrist. See many articles on Wall Street on Parade. Maybe John Perkins, The Art of the STEAL will expose something. Not a DEAL but a STEAL!!!!! Love to see your comments about it as it comes out in a few days. Keep up the GREAT writings!!!, please. Kenneth Pollinger, Ph.D. (SUNY)(Sociology)
Thanks, Kenneth. I think that’s part of the problem. It’s much easier to keep auditing a spreadsheet and pointing to the same numbers than to conduct a proper physical audit. And as long as enough people are willing to accept that, what incentive is there to do anything more? I suspect we may never get one. Appreciate the kind words!
I’m not sure assigning a “current price or range of prices” for gold has any bearing on “getting closer to the truth”, regarding the amount of gold in the vaults.
If the “value” of what’s reportedly held in vaults is increased by 100X,$42/4200, imagine how the current $40TR would magically “shrink”!😂😂😂.
As with all govt reporting, it is constantly revised according to “established accounting Principles”.
the great con of paper gold. Remember that a national currency depends on confidence 100%. Bond rates rise when confidence in a national currency diminishes.
The same is true of personal reserve holdings. Don't depend on paper gold (GLD, SLV). Your wife sleeps well at night because she knows there is real money in the house.
We will never have an audit of US gold. The empire depends on continuing the fairy tale that there is something more than the "full faith of the US government" behind the fiat dollar.
Thanks, Thomas. I agree. I doubt we’ll ever see a proper audit of the U.S. gold reserves. Of course, the longer they go without one, the more they fuel distrust. But I guess they’re past caring at this point.
My heavens, it’s like having Al Gore in charge of our money. But to me, if the government of the people, by the people, and for the people
is balking at a true audit, then a thinking man has to assume that there just may not be any there (worst case) or that someone else has a claim on it, etc.
So that begs the question of what are the implications of that? That is way over my head, but I’m happy to have my bullion.
Although I generally already felt essentially the way you've portrayed the "facts" about the gold in Fort Knox reports, I appreciate the detail with which you've dug into the story. How is it that Bessant would be so clueless when in fact in his actual sphere of expertise he's brilliant? That isn't to say his policies or choices are always right in some bigger sense, but he's not uninformed.
Bessent did stumble badly in implying you can still redeem gold and silver certificates, but maybe we can fairly assume he was just muddled about some sort of special certificates he might have heard about years ago. Who knows? His reference to the US getting lots of gold from Venezuela was vague and confusing. No doubt the subject is complex in regard to the US government leveraging commodity traders to facilitate purchases from Venezuelan sources to increase our central bank gold reserves. Violation of laws and regulations in place to avoid contamination of our reserves by acquistion of cartel tainted gold is a sensitive enough issue to cause the Secretary to wish he hadn't been so casual. That is understandable.
I decided many years ago to never go into politics in part because while in law school I tried to help my summer intern boss with some political speech writing and realized that actually educating the audience can not be the goal when the subjects are too complex for sound bites. So I'm sympathetic to Bessent, and thankful for commentators like Lau who provide education. A little more explication on the gold from Venezuela comment would also be appreciated. Jay
Thanks, Jay. Fair points all around. I def agree that Bessent is clearly not an uninformed guy, which, like I said in the piece, is somewhat concerning... to put it mildly.
On Venezuela: From what I can tell, he was probably referring to Venezuelan gold being sold into U.S. markets under some mining deals the administration helped open up. So none being taken from Venezuela for the sake of democracy. For now, at least :)
Thanks for bringing this to light, Lau. Another illustration of how we’re being fed fools gold masquerading as transparency every day. As the old saying goes if their lips are moving they’re lying. Physical metals, liquidity outside of great taking exposure, strategic stocks plus organizing in the counties (US) to use petitions to form constitutional compliance committees is one sound solution that will protect and empower.
Thanks, Dr. B. From what I can tell, Bessent was probably referring to Venezuelan gold being sold into U.S. markets under some mining deals the administration helped open up. So no, they haven’t hauled Venezuela’s gold off to Fort Knox. At least not yet :)
In accounting terms, audits are about checking schedules against stock. There is always a 'stocktake' to prove the truth. The price used can be disputed, but the quantity must be assured. QED The whole thing is fake. There never has been an audit and never will be until the whole fabricated system implodes, if ever. In the meantime we can all live in the City of Oz happy in our ignorance.
I don’t know if there will ever be an audit, or one that is publicly disclosed at least. I buy into the theory that once the number is disclosed it’s entirely possible an adversary, like, oh, China, reports a far larger number which is a problem. You are 100% right though-Happy ignorance (snafu)
Bessent can say the gold is “all there.” That does not answer where it has been going. The United States has been transferring gold to the Anunnaki in exchange for technology. Look at the speed of the last century. Nibiru needs gold to hold its atmosphere. People who have been through the National Archives already know this. The secret held while the program was small. It does not hold now.
Perhaps they can rewatch Goldfinger and guestimate the holdings from the movie set.
Well, it seems like at this point they’re ready to do just about anything besides conduct a proper audit, so I’m not ruling this one out :)
So, then, HOW is possible to get an OFFICIAL audit? What's going on? If Congress does NOT want it, then it seems we are stuck with B.S. Thus conspiracy theories galore!!
And why then do "they" not use the present value of gold, or a range of gold prices, so that we might be closer to the truth. I imagine we will never know unless there is a financial RESET, and maybe even then not know also. The Creature from Jekyll Island is about all we have, no? And what gives with JPMorgan and Jamie Diamond??? FIVE criminal CONVICTED cases and a slap on the wrist. See many articles on Wall Street on Parade. Maybe John Perkins, The Art of the STEAL will expose something. Not a DEAL but a STEAL!!!!! Love to see your comments about it as it comes out in a few days. Keep up the GREAT writings!!!, please. Kenneth Pollinger, Ph.D. (SUNY)(Sociology)
Thanks, Kenneth. I think that’s part of the problem. It’s much easier to keep auditing a spreadsheet and pointing to the same numbers than to conduct a proper physical audit. And as long as enough people are willing to accept that, what incentive is there to do anything more? I suspect we may never get one. Appreciate the kind words!
I’m not sure assigning a “current price or range of prices” for gold has any bearing on “getting closer to the truth”, regarding the amount of gold in the vaults.
If the “value” of what’s reportedly held in vaults is increased by 100X,$42/4200, imagine how the current $40TR would magically “shrink”!😂😂😂.
As with all govt reporting, it is constantly revised according to “established accounting Principles”.
There is no cure except STOP THE SPENDING!!!
Keep up the great work sir!
the great con of paper gold. Remember that a national currency depends on confidence 100%. Bond rates rise when confidence in a national currency diminishes.
The same is true of personal reserve holdings. Don't depend on paper gold (GLD, SLV). Your wife sleeps well at night because she knows there is real money in the house.
We will never have an audit of US gold. The empire depends on continuing the fairy tale that there is something more than the "full faith of the US government" behind the fiat dollar.
Thanks, Thomas. I agree. I doubt we’ll ever see a proper audit of the U.S. gold reserves. Of course, the longer they go without one, the more they fuel distrust. But I guess they’re past caring at this point.
Are your postings pushed out by emails if we are subscribed? Not receiving anything. Thx lmk
Hi Adrianna, I just replied to you by email. Glad to have you with us!
My heavens, it’s like having Al Gore in charge of our money. But to me, if the government of the people, by the people, and for the people
is balking at a true audit, then a thinking man has to assume that there just may not be any there (worst case) or that someone else has a claim on it, etc.
So that begs the question of what are the implications of that? That is way over my head, but I’m happy to have my bullion.
Trust is grown over time.. Bessent i have zero trust to.
Although I generally already felt essentially the way you've portrayed the "facts" about the gold in Fort Knox reports, I appreciate the detail with which you've dug into the story. How is it that Bessant would be so clueless when in fact in his actual sphere of expertise he's brilliant? That isn't to say his policies or choices are always right in some bigger sense, but he's not uninformed.
Bessent did stumble badly in implying you can still redeem gold and silver certificates, but maybe we can fairly assume he was just muddled about some sort of special certificates he might have heard about years ago. Who knows? His reference to the US getting lots of gold from Venezuela was vague and confusing. No doubt the subject is complex in regard to the US government leveraging commodity traders to facilitate purchases from Venezuelan sources to increase our central bank gold reserves. Violation of laws and regulations in place to avoid contamination of our reserves by acquistion of cartel tainted gold is a sensitive enough issue to cause the Secretary to wish he hadn't been so casual. That is understandable.
I decided many years ago to never go into politics in part because while in law school I tried to help my summer intern boss with some political speech writing and realized that actually educating the audience can not be the goal when the subjects are too complex for sound bites. So I'm sympathetic to Bessent, and thankful for commentators like Lau who provide education. A little more explication on the gold from Venezuela comment would also be appreciated. Jay
Thanks, Jay. Fair points all around. I def agree that Bessent is clearly not an uninformed guy, which, like I said in the piece, is somewhat concerning... to put it mildly.
On Venezuela: From what I can tell, he was probably referring to Venezuelan gold being sold into U.S. markets under some mining deals the administration helped open up. So none being taken from Venezuela for the sake of democracy. For now, at least :)
Appreciate the thoughtful comment, as always.
Thanks for bringing this to light, Lau. Another illustration of how we’re being fed fools gold masquerading as transparency every day. As the old saying goes if their lips are moving they’re lying. Physical metals, liquidity outside of great taking exposure, strategic stocks plus organizing in the counties (US) to use petitions to form constitutional compliance committees is one sound solution that will protect and empower.
Thanks for reading, Henry. I definitely agree about the lips :)
The part about getting gold from Venezuela was news to me. Did the U.S. take the gold from Venezuela or are we just keeping it safe for democracy?
Thanks, Dr. B. From what I can tell, Bessent was probably referring to Venezuelan gold being sold into U.S. markets under some mining deals the administration helped open up. So no, they haven’t hauled Venezuela’s gold off to Fort Knox. At least not yet :)
Thanks Lau.
In accounting terms, audits are about checking schedules against stock. There is always a 'stocktake' to prove the truth. The price used can be disputed, but the quantity must be assured. QED The whole thing is fake. There never has been an audit and never will be until the whole fabricated system implodes, if ever. In the meantime we can all live in the City of Oz happy in our ignorance.
PS - even if the golden bars are there to see, they still need an assay to establish purity or whether it's merely golden paint. Given everything else is fake - my guess is that nothing is real in this magical world. https://www.theburningplatform.com/2021/01/21/everything-is-fake-everything/
I don’t know if there will ever be an audit, or one that is publicly disclosed at least. I buy into the theory that once the number is disclosed it’s entirely possible an adversary, like, oh, China, reports a far larger number which is a problem. You are 100% right though-Happy ignorance (snafu)
Thanks, Josh. That’s actually an interesting point.
Bessent can say the gold is “all there.” That does not answer where it has been going. The United States has been transferring gold to the Anunnaki in exchange for technology. Look at the speed of the last century. Nibiru needs gold to hold its atmosphere. People who have been through the National Archives already know this. The secret held while the program was small. It does not hold now.