Gyroscopic Investing

Reminds me of a not-very-old thread:

The Fed Has 6,200 Tons of Gold in a Manhattan Basement—Or Does It?
https://www.wsj.com/articles/the-fed-ha ... 1502382644

If anyyone has a non-paywalled source, please link...

http://www.foxbusiness.com/features/201 ... s-it0.html

Edit:
Didn't see any meat. Just theories from usual suspects.

Fortunately we can trust the Fed and any other government agencies not to lie to us!

I think Ron Paul was trying to see the gold in Fort Knox or whatever but could never manage to make it happen.

So I have to ask the question - if you are claiming to have 6,200 tons of gold somewhere and won't let anybody see it an official capacity from the U.S. government what other explanation can there be for that beside that you are a lying snake in the grass?

What I always wonder about when the discussion of the 6,200 tons of gold comes up is if we put a dollar amount on that gold, then what? At $1,300 per ounce that gold is worth roughly 257 billion dollars. For perspective, the US is paying about that much each year servicing its debt. See a link (from a perfunctory search) here:

https://www.thebalance.com/interest-on- ... bt-4119024

Outstanding debt on US savings bonds is about 166 billion. The 257 billion is about a quarter of what we owe just to China. Ditto for Japan.

Not that any of these figures are supposed to mean anything by themselves. I'm just throwing around numbers. I guess it just strikes me that the US gold reserves are not worth all that much in the grand scheme of things.

barrett wrote:What I always wonder about when the discussion of the 6,200 tons of gold comes up is if we put a dollar amount on that gold, then what? At $1,300 per ounce that gold is worth roughly 257 billion dollars. For perspective, the US is paying about that much each year servicing its debt. See a link (from a perfunctory search) here:

https://www.thebalance.com/interest-on- ... bt-4119024

Outstanding debt on US savings bonds is about 166 billion. The 257 billion is about a quarter of what we owe just to China. Ditto for Japan.

Not that any of these figures are supposed to mean anything by themselves. I'm just throwing around numbers. I guess it just strikes me that the US gold reserves are not worth all that much in the grand scheme of things.

That is easy to fix... if the gold is actually there.
Just revalue the gold at whatever price would pay off all the outstanding Treasury debt, then use it for that purpose.

farjean2 wrote:I think Ron Paul was trying to see the gold in Fort Knox or whatever but could never manage to make it happen.

So I have to ask the question - if you are claiming to have 6,200 tons of gold somewhere and won't let anybody see it an official capacity from the U.S. government what other explanation can there be for that beside that you are a lying snake in the grass?

I wouldn't let Ron Paul see my gold either.