Anchor ads are not supported on this page.

4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

Ft. Knox: plenty of tanks, maybe no gold

Hey Matt!

Sponsored
Sponsored

How much gold is in Fort Knox? Is it true that it hasn't been physically audited since the Eisenhower administration? Why can't we sell off the gold now and fund Social Security or pay off the national debt?

-- John Q. Public, the net

Hmmmm. Well, how much gold ya got in your pocket? Mebby you got more than Ft. Knox, sez economist Kennedy Gammage, our go-to gold guy. Or mebby there's a shipload of gold in Ft. Knox. We're pretty sure somebody knows. Somebody's got a key to the vault and can peek in on the reserves from time to time. But they're not talking and they wish you would just go away too. Government gold has been in Ft. Knox since the '30s under the control of the Mint and ultimately the treasury department. No, it hasn't been audited since, well, maybe ever. Gold doesn't back any currency; it's made into dental appliances and jewelry and is traded on commodity markets like hog bellies and soybeans. It's magical stuff, but it ain't what it used to be-- the measure of a country's worth. Gold in the commodity banks is audited, but U.S.-owned gold is pretty much just rumors, often involving the guv'mint or some captain of industry sneaking some/most/all of it out of the vault in skiploaders at midnight and into banks in foreign countries, probably as part of some one-world-government scheme. Even if there is gold in Ft. Knox (which is also an army tank-training facility), it would take Congress to release it to sell and fund some domestic project. For reasons deeper and darker than the Ft. Knox vault, apparently, that ain't gonna happen.

Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Will L.A. Times crowd out San Diego U-T at Riverside printing plant?

Will Toni Atkins stand back from anti-SDG&E initiative?

Hey Matt!

Sponsored
Sponsored

How much gold is in Fort Knox? Is it true that it hasn't been physically audited since the Eisenhower administration? Why can't we sell off the gold now and fund Social Security or pay off the national debt?

-- John Q. Public, the net

Hmmmm. Well, how much gold ya got in your pocket? Mebby you got more than Ft. Knox, sez economist Kennedy Gammage, our go-to gold guy. Or mebby there's a shipload of gold in Ft. Knox. We're pretty sure somebody knows. Somebody's got a key to the vault and can peek in on the reserves from time to time. But they're not talking and they wish you would just go away too. Government gold has been in Ft. Knox since the '30s under the control of the Mint and ultimately the treasury department. No, it hasn't been audited since, well, maybe ever. Gold doesn't back any currency; it's made into dental appliances and jewelry and is traded on commodity markets like hog bellies and soybeans. It's magical stuff, but it ain't what it used to be-- the measure of a country's worth. Gold in the commodity banks is audited, but U.S.-owned gold is pretty much just rumors, often involving the guv'mint or some captain of industry sneaking some/most/all of it out of the vault in skiploaders at midnight and into banks in foreign countries, probably as part of some one-world-government scheme. Even if there is gold in Ft. Knox (which is also an army tank-training facility), it would take Congress to release it to sell and fund some domestic project. For reasons deeper and darker than the Ft. Knox vault, apparently, that ain't gonna happen.

Comments
Sponsored
Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Hip-hop artist Don Elway makes movies for his music

Not Ordinary EP tells a story of life on the streets
Next Article

Not enough Readers in Mission Beach

Mayor Todd Gloria's skin color
Comments
Ask a Hipster — Advice you didn't know you needed Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Drinks All Around — Bartenders' drink recipes Excerpts — Literary and spiritual excerpts Feast! — Food & drink reviews Feature Stories — Local news & stories Fishing Report — What’s getting hooked from ship and shore From the Archives — Spotlight on the past Golden Dreams — Talk of the town The Gonzo Report — Making the musical scene, or at least reporting from it Letters — Our inbox Movies@Home — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Outdoors — Weekly changes in flora and fauna Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Sheep and Goats — Places of worship Special Issues — The best of Street Style — San Diego streets have style Surf Diego — Real stories from those braving the waves Theater — On stage in San Diego this week Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close

Anchor ads are not supported on this page.