“Goldfinger” is one of my favorite movies, the plot is a little bit difficult to swallow, but suffice to say that the villain, Auric Goldfinger, really does believe that Fort Knox is the biggest repository of gold in the entire world and his sinister operations center around compromising that gold, and thereby making Goldfinger’s gold much more valuable and he, much more powerful. Now fifty years later, questions have continued to be asked as to whether Fort Knox has as much gold as it purports to have.
Fort Knox is estimated to have 147.3 million troy ounces of gold, in which with gold priced at about $1250/ounce this is worth somewhere in the neighborhood of $184.1 billion. Incredibly, the reserves at Fort Knox have not been audited since 1953, and it is questionable what that audit even accomplished. What should be done at Fort Knox is a complete and thorough audit of the gold, to determine not only its quantity, its weight, but also its purity, as urged by Ron Paul and so many others.
The audit of Fort Knox is a no-brainer. Yearly physical audits are a requirement for most companies and not to have an audit for over sixty years of a task as straightforward as determining how much physical gold Fort Knox contains is inexcusable. The lack of transparency and the absence of an up-to-date audit is prima facie evidence that all is not sound at Fort Knox and the estimates of the gold that is contained there is thereby highly suspect.
Our government has an obligation to be a good steward of our money and to be forthright and honest in regards to what or what isn’t contained at Fort Knox. If there isn’t a story at Fort Knox, that all the gold that is supposed to be there, is there, than why not take the steps to document that information in such a manner as to prove that to the American people beyond a reasonable doubt.
In fact, the government for its own purposes, even if not publicly disclosed, should desire to know how much gold is or isn’t at Fort Knox. Quite frankly, I don’t believe that anyone alive actually knows how much gold is at Fort Knox and apparently those in power deliberately do not want anyone to know. Smoke and mirrors can only work for so long and I am amazed, that Fort Knox, gold, and how much or how little gold there is, has survived this long without the ghost being given up.
Gold has been currency in many civilizations over long periods of time, because of its scarcity, its malleability, its lack of oxidization, and its desirability. Any government can print reams and reams of paper money, can create fiat currency, but that currency will at some point become worthless or nearly so because governments come and governments go through conquest, abandonment, or decay. In fact, gold is the real deal and that is why alchemists tried so hard to change base metals into gold for so many years. Is Fort Knox the real deal? In absence of any verified proof, the answer is clearly no.