Interesting - I didn't know that. I probably did in HS at some point...*** - Politics Forum

Tiggity®

Ultimate Clemson Legend [105594]

TigerPulse: 100%

Posts: 68999

Joined: 2002

Still waiting on the JFK files he supposedly released. Serious note

Feb 20, 2025, 8:46 AM

Because I have to be......

TLDNR Summary: FDR issued an EO and confiscated all gold held by Americans in 1933. Congress backed the illegal EO with a law. Gold ownership was illegal in the US until 1974. Total value of all gold that exists on Earth (in the ground and mined), even at current market prices, wouyld not pay down out national debt. If gold skyrockets much higher against the dollar, it could be confiscated and outlawed, yet again. That's how Ft. Knox got the gold it has, and the purpose of it. FDR wanted 40% of US government assets to be gold to back the dollar.

************************************************************************************

Does anyone know WHY Fort Knox exists? WHY it's full of gold? Where the gold came from? The purpose for it being there full of gold?

First off, Fort Knox is a military base in Kentucky. "Ft. Knox" with the gold is called the United States Bullion Depository. It was created during the Great Depression (1936) under FDR. It had to be built as a result of FDR's infamous, never discussed, Executive Order 6102.

See, during the Great Depression, in order to bolster the US dollar to improve the economy, FDR issued an executive order to confiscate all of the gold owned by Americans. As the dollar tanked, and faith in it was largely lost, causing the economy to tank, people fled to gold, causing gold prices to climb and keeping the dollar weak. Gold is a commodity, an asset, the governemnt could not control. They can print money, they can't make gold. So they set about confiscating the gold of ALL American citizens, with exceptions for some jewelry, rare coins, and industrial purposes. Under penalty of imprisonment and massive fines, Americans were forced to "sell" their gold to governemnt at the current market price, exchanging that gold for easy-to-print dollars. $20 an ounce. Roosevelt wanted 40% of the dollars the US governemnt possessed backed by gold. This EO was of course, illegal, initially. But a month later Congress passed a law making it "legal", which Roosevelt signed.

Gold ownership by Americans was largely illegal all the way until 1974. In 1972 then President Nixon famously left the "Gold standard", that's the 40% FDR set. And in 1974 then President Ford removed restrictions on gold ownership. Gold prices remained between $25-$35 for the entire period from 1934-1974, shooting up as soon as restrictions were removed. Today it's worth $2.9K per ounce.

Our federal deficit is $36,000,000,000,000.00. 244,000 metric tons of gold exists on EARTH, ever mined (PLUS what is believed to be accessible in the ground that's counted as reserves - per USGS data) Roughly 180,000 metric tons have ever been mined. At $1.9K per ounce (2023 number), our national debt equals 537,660 metric tons. SO ALL THE GOLD THAT EXISTS ON EARTH (in the ground or otherwise), WOULD ONLY PAY DOWN HALF OUR NATIONAL DEBT. So, what does it matter how much gold is in Ft. Knox?

Here's the rub, as faith in the dollar has declined, and with inflation (again, lost dollar value), the total world gold value has edged closer and closer to satisfying our debt. If we default on our debt, don't worry, we won't. We will just confiscate the gold from all Americans, pay them worthless dollars for it, and we're whole again. Making any crypto rug-pull seem microscopic. There was actually a very big black market for gold in the US when it was confiscated and possession was illegal. If you own a lot of gold, like a LOT, and want to make sure it stays safe, I'd get it OUT of the United States. Store it in Switzerland, great place. But if you keep it here, it is not safe.

So all of you buying gold to hedge against the dollar, BETTER HIDE IT WELL, and better yet store it NOT IN THE US. Because they WILL come for it, if things get bad. (see below):

flag link

military_tech

thumb_down

thumb_up

Somewhat joking...

It's about the time when social media became so popular that it gave rise to no-talent idiots and voices to conspiracy-ridden imbeciles who shouted down normal people. Unfortunately, about that same time, we were given two horrific choices for president: either the sociopath Hillary Clinton, or fat orange blowhard. We were coming off a divisive presidential administration that had originally promised "hope and change" on the heels of another admin that mired us into a stupid war and financial hardships.

Normal people didn't want a rerun of what the Dems offered before, especially in the shape of Hillary, so they gave Trump a chance with hopes that he boosted us economically. But in the midst of that, Trump gave further voice to the crazies who suddenly felt they were the normal people in America.

And now here we are.

EDIT: Sorry, answering your subject line in the OP and not addressing the Fort Knox stupidity which isn't worthy of a reply because ####### hell Trump and Musk are idiots.

Message was edited by: Catahoula®

How did we get to a place where only morons are allowed to be in charge?

Re: How did we get to a place where only morons are allowed to be in charge?

No reasonable person thinks Biden was any smarter but there are plenty of MAGA

Re: No reasonable person thinks Biden was any smarter but there are plenty of MAGA

Re: No reasonable person thinks Biden was any smarter but there are plenty of MAGA

Re: How did we get to a place where only morons are allowed to be in charge?

Re: How did we get to a place where only morons are allowed to be in charge?

Re: How did we get to a place where only morons are allowed to be in charge?

Mitch McConnel says he's been there and seen the gold

Re: Mitch McConnel says he's been there and seen the gold

Mitch said it was there in 2017

Watch the first 10 minutes of the movie Idiocracy,

It has electrolytes!***

This is so dumb it HAS to be diversion bait.***

Flood the zone!***

Still waiting on the JFK files he supposedly released. Serious note

Interesting - I didn't know that. I probably did in HS at some point...***

Most people don't know this. By design.***

Re: Still waiting on the JFK files he supposedly released. Serious note

98% of South Carolinians voted for FDR in 1932

At the time, a dominantly agrarian base and major military presence along

They didn't confiscate all gold, only large amounts of it

About the time they fired up the Hadron collider in 2015

Re: About the time they fired up the Hadron collider in 2015

The People are in charge. That is why Trump is representing us.***

Captain conspiracy theory thinks this is the 'will of the people' LOL***

oh, you must be an election denier.***

It ain't about the results of the election

Like kamala, a candidate picked by George Clooney?***

Sure

Clowns to the left of us, jokers to the right. Here we are, stuck in the middle.***

MAGAts.***

TigerBoard POTD