Monday, March 3, 2014

Fort Knox Is Empty

There, I have said it clearly and without equivocation.  The same can be said about the vaults in New York City, you know the ones across the street from the vaults now owned by China.  The ones connected by tunnel to the vaults now owned by China, in the building bought for a song for $750 million, about half price.  The vaults meant to be storing gold for countries like Germany who didn’t trust the Russians to invade during the Cold War.
Yes, now the gold is gone.  Leased, hypothecated, rehypothecated, sold into the market to drive down prices, … you name it.  Let me state some of the reasons why this is obvious:
  1. Gold has been pouring into China and India at a rate far higher than the mining rate, which is to say that there is not enough gold being mined to satisfy demand in those two countries let alone the rest of the world.  It had to come and is coming from somewhere.
  2. Bear Stearns failed when they couldn’t meet margin calls for gold and silver in 2008.  They were rescued.  Why?  Lehman Brothers were allowed to swing high just months later. 
  3. Now the rescuer of Bear Stearns, JP Morgan, is charged with the responsibility to drive down gold prices almost every night. 
  4. The manipulation of gold prices is being handled more and more with naked shorts and less and less with the selling of real physical gold.  April 15, 2013 may go down in history as the day the Ponzi Scheme began to unravel when 400 tons of naked shorts drove the price of gold over a cliff in a matter of minutes.  This is illegal and everybody knows it happened.  The rebound will be breath taking (as well as wealth taking).
  5. Buying and selling computer driven algorithms are being used to manipulate prices illegally.
  6. The threat of criminal prosecution was removed decades ago and stated publicly by the United States Attorney General in 2013.
  7. If you don’t have it you can’t deliver it.  COMEX is getting near the breaking point of not being able to persuade buyers to take a cash premium and forego their contract for metals deliveries.
  8. There has been no audit for more than 50 years.
  9. The Main Stream Media is ignoring a very obvious situation, including public information.
  10. The big banks are calling for gold and silver prices to remain flat for the next couple of years.  This is an intentional lie.  This is a joke to anybody with any sense of markets.  It is a ruse to lull people into a deep sleep to keep the Ponzi Scheme going for a few more quarters.

Why does this matter?  According to the leading economists fiat currency is perfectly capable of handling our trade and commerce.  It is backed by our productivity, not?  Never mind that more and more can be printed and will inevitably collapse into hyperinflation.  Never mind that fiat currency is rooted in debt that is designed to enslave us.  Never mind that the Fed was set up to allow for the funding of wars which always enrich MiLords, and for allowing MiLords to manipulate asset values (not just gold and silver) and ultimately to enable an Oligarchy to rule us.

It is not possible for me to say why MiLords are allowing, indeed aiding and abetting, China to set up their currency for being the next World Reserve Currency.  MiLords are actively making it possible for China to amass gold at bargain prices.  I have asked in earlier posts whether they have been outflanked or whether they have a plan that will unfold to our utter dismay?   Are they caught in a game they don’t know how to end and are willing to pay any price, including committing treason to keep the game going a bit longer? Or will they somehow recruit China’s elite to play their game?

I don’t know.

But I do know this.  Fort Knox is empty.  And when the US Dollar is no longer recognized as the World Reserve Currency, we will be the poorer for it.  A lot poorer.


Andrew said...

Good insights in this blog. I came here via your comment in Dave Kranzler's blog

Being There said...

A few years ago I read that Fort Knox was emptied and not inventoried for many decades.

The story goes that after Nixon moved us off the gold backed dollar, the very well connected/wealthy went into the vaults and took what they wanted. Nothing would surprise me at this point.

According to the firemen at the World trade ctr. on 9/11 Giuliani seemed more interested in the gold, then the lives of the firemen. Many have hatee him after that.

The neoliberal model is in full regalia when you hear of our infrastructure being sold for pennies on the dollar and since China, an ancient country understands the intrinsic value of gold, well, what can I say.

Folly indeed, but the folks at Goldman Sachs aren't taking any chances. They all shipped their gold out of this country to Panama.

Larry Alderfer Fisher said...

Being There I agree that it was stolen but for the express purpose of suppressing the price of gold to prop up the dollar. Did you read my entry, Rehypothecation and the Shadow Banking System?

Being There said...

The gold manipulation is a way of propping up the fiat currency, but for how long?

Even with the manipulation the dollar is in trouble. Now we're fomenting problems to gin up the cold war. This outta take our attention away from the men behind the curtain.

Now, my late friend who told me about GS sending ships down to Panama with gold also said that the dollar is going to be worthless. He said at first they told him it would be worth about 1/3 and then the men doing God's work said it wouldn't be worth anything.

So they hedge their bets as always. If the dollar goes, they've got the gold. It's offshore, so good luck getting it back.

Clever and destructive.