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Author Topic: Bitcoin popularity will increase, when no Gold is found in Fort Knox.  (Read 334 times)
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July 30, 2018, 06:30:59 AM
 #21

I am very curious on why the American public has not insisted that a full audit must be done on the actual Gold that are stored in Fort Knox and other secure places in America. They blindly accept that there are lots of Gold stored in the vaults in Fort Knox and all over America. The government has no right to withhold that information, but the public is not demanding it.

Why?

1. They know that if this is true, their economy will PROBABLY collapse?
Indeed. Since the dollar is tied with gold and the US government claims to have the equivalent of each dollar in gold then the price will easily collapse once someone will leak a video about how catastrophic the situation is in Fort Knox.
I consider the USD untrustworthy since 70' when they suspended its convertibility into precious metals.

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July 31, 2018, 10:55:12 AM
 #22

The US economy won`t collapse, if there aren`t any gold stored in Fort Knox.
According to Wikipedia:
"As of November 2017, Fort Knox holdings are 4,582 metric tons (147.3 million oz. troy), with a market value of over $100 billion. In contrast, the GDP of the United States was $19.4 trillion as of April 2017."
This year,the US GDP is more than 20.413 trillion USD.
I don`t think that bitcoin popularity will increase ,if the US government has no gold reserves.
Nobody cares about that.People are just ignorant.

It is all about Faith/trust in the government. If there are no Gold in the vault, then the US government will lose a lot of credibility and the US citizens and the rest of the world that are using the US Dollar would lose faith in them. That little piece of paper, called the US Dollar is 100% built on the faith that people has, that the government would guarantee it's value to the bearer.

The Gold's value has little impact on what the damage would be, if it was found that there were no Gold in Fort Knox and the government knows that.  Angry
The US government confirming that there is no gold in Fort Knox won't be the end of the US Dollar as the they won't obviously lose credibility on one thing, in fact they could probably have a good excuse when they finally decide to tell something straight publiy like that they where only using Fort Knox as a decoy place for them to protect the real gold the US is owning somewhere is a undisclosed location. Also there are several occasions where the government has been found hiding the truth and the most recent ones are about their war in the middle east but did they lost their credibility during that time? Of course not being the most powerful country in the world it is hard to bring it down.

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July 31, 2018, 11:57:25 AM
 #23

I am very curious on why the American public has not insisted that a full audit must be done on the actual Gold that are stored in Fort Knox and other secure places in America. They blindly accept that there are lots of Gold stored in the vaults in Fort Knox and all over America. The government has no right to withhold that information, but the public is not demanding it.

Why?

1. They know that if this is true, their economy will PROBABLY collapse?
Indeed. Since the dollar is tied with gold and the US government claims to have the equivalent of each dollar in gold then the price will easily collapse once someone will leak a video about how catastrophic the situation is in Fort Knox.
I consider the USD untrustworthy since 70' when they suspended its convertibility into precious metals.

Damn, I never thought that there are still people who think fiat currency/dollar price are tied to Gold.  Roll Eyes  The US Dollar has not been linked to Gold for the last 45 years, since president Nixon abolished that in his term as president.  Roll Eyes

The only link to the Dollar is that it is mainly traded in US currency, so a weaker dollar makes Gold less expensive for other countries to buy it. So it is important for the US government to protect the dollar price and a shock like this, will definitely influence the dollar price and the Gold price, if this Gold did not exist. <If they say it is there and it is not, then they are messing with the supply>  Roll Eyes  

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July 31, 2018, 12:06:54 PM
 #24

I am very curious on why the American public has not insisted that a full audit must be done on the actual Gold that are stored in Fort Knox and other secure places in America. They blindly accept that there are lots of Gold stored in the vaults in Fort Knox and all over America. The government has no right to withhold that information, but the public is not demanding it.

Why?

1. They know that if this is true, their economy will PROBABLY collapse?
2. They are scared of their government?
3. They are just ignorant?
4. They simply do not care about this?

Why would the government go to that much trouble to hide this information from the public, if they had nothing to hide?

What do you think will happen, once the truth about this is revealed and how will this impact Bitcoin?
its their backup if an economic crisis will happen or an unexpected event that will happen, America is almost half of the world and the government of America will sure have a lot of options and one of this is the gold that is stored.

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July 31, 2018, 12:26:56 PM
 #25

Yes it is a kind of legendary that the Fort Knox is empty. But even if it is, the news about it will never ever become public, and thus it will never in the slightest influence bitcoin price and adoption.

I am afraid bitcoin must gather trust of public opinion itself, without any shortcuts as the one described in the OP.

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July 31, 2018, 12:35:36 PM
 #26

I am very curious on why the American public has not insisted that a full audit must be done on the actual Gold that are stored in Fort Knox and other secure places in America. They blindly accept that there are lots of Gold stored in the vaults in Fort Knox and all over America. The government has no right to withhold that information, but the public is not demanding it.

Why?

1. They know that if this is true, their economy will PROBABLY collapse?
2. They are scared of their government?
3. They are just ignorant?
4. They simply do not care about this?

Why would the government go to that much trouble to hide this information from the public, if they had nothing to hide?

What do you think will happen, once the truth about this is revealed and how will this impact Bitcoin?

The Fed does not want people to understand that gold is really important, that's why it does not audit gold reserves.

By the way, I am an adherent of the audit. But the fact that the government does not conduct this audit is not evidence that this gold is not available.

They just do not want to attract your attention.
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August 01, 2018, 07:06:29 AM
 #27

I am very curious on why the American public has not insisted that a full audit must be done on the actual Gold that are stored in Fort Knox and other secure places in America. They blindly accept that there are lots of Gold stored in the vaults in Fort Knox and all over America. The government has no right to withhold that information, but the public is not demanding it.

Why?

1. They know that if this is true, their economy will PROBABLY collapse?
Indeed. Since the dollar is tied with gold and the US government claims to have the equivalent of each dollar in gold then the price will easily collapse once someone will leak a video about how catastrophic the situation is in Fort Knox.
I consider the USD untrustworthy since 70' when they suspended its convertibility into precious metals.

Damn, I never thought that there are still people who think fiat currency/dollar price are tied to Gold.  Roll Eyes  The US Dollar has not been linked to Gold for the last 45 years, since president Nixon abolished that in his term as president.  Roll Eyes

The only link to the Dollar is that it is mainly traded in US currency, so a weaker dollar makes Gold less expensive for other countries to buy it. So it is important for the US government to protect the dollar price and a shock like this, will definitely influence the dollar price and the Gold price, if this Gold did not exist. <If they say it is there and it is not, then they are messing with the supply>  Roll Eyes  

I was just thinking the same thing. The dollar is its own boss. It is whatever the Fed says it is.

I thought that a weaker dollar tended to make gold more expensive as investors look to it as a hedge. When the dollar is strong, investors prefer it over gold as it yields interest, whereas gold does not. So in addition to a higher value they can gain a few percent on the interest rate.

They're probably messing with the supply, just as the do by establishing futures contracts. To be honest, because of the massive amount of "invisible" gold created by futures contracts, I'm not sure that the existence of this gold in Fort Knox would have that big of an influence on the price of it anymore. Other than of course giving gold bugs a good reason to buy more.
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August 01, 2018, 08:22:10 AM
 #28

I totally agree with you on this issue. It is very stupid for Americans to stay mute in this fact. They have the right to know everything about the actual places of gold and government also cannot keep it hidden
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August 01, 2018, 08:46:22 AM
 #29

I am very curious on why the American public has not insisted that a full audit must be done on the actual Gold that are stored in Fort Knox and other secure places in America. They blindly accept that there are lots of Gold stored in the vaults in Fort Knox and all over America. The government has no right to withhold that information, but the public is not demanding it.

Why?

1. They know that if this is true, their economy will PROBABLY collapse?
Indeed. Since the dollar is tied with gold and the US government claims to have the equivalent of each dollar in gold then the price will easily collapse once someone will leak a video about how catastrophic the situation is in Fort Knox.
I consider the USD untrustworthy since 70' when they suspended its convertibility into precious metals.

Damn, I never thought that there are still people who think fiat currency/dollar price are tied to Gold.  Roll Eyes  The US Dollar has not been linked to Gold for the last 45 years, since president Nixon abolished that in his term as president.  Roll Eyes

The only link to the Dollar is that it is mainly traded in US currency, so a weaker dollar makes Gold less expensive for other countries to buy it. So it is important for the US government to protect the dollar price and a shock like this, will definitely influence the dollar price and the Gold price, if this Gold did not exist. <If they say it is there and it is not, then they are messing with the supply>  Roll Eyes  

I was just thinking the same thing. The dollar is its own boss. It is whatever the Fed says it is.

I thought that a weaker dollar tended to make gold more expensive as investors look to it as a hedge. When the dollar is strong, investors prefer it over gold as it yields interest, whereas gold does not. So in addition to a higher value they can gain a few percent on the interest rate.

They're probably messing with the supply, just as the do by establishing futures contracts. To be honest, because of the massive amount of "invisible" gold created by futures contracts, I'm not sure that the existence of this gold in Fort Knox would have that big of an influence on the price of it anymore. Other than of course giving gold bugs a good reason to buy more.

It becomes a problem if they are using that Gold to manipulate the Gold price. They might be siphoning off some of that Gold or simply moving it around to artificially pump the price and then trade with this on open markets. In essence they are cooking the books and doing something else with the assets.

The thing is, nobody will ever know, because it is a highly controversial issue and the government is guarding that secret more than they are guarding their nukes.  Roll Eyes

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August 01, 2018, 09:07:35 AM
 #30

I think to stable the finance market american government kept the gold. And that's why people are trying to find another option which is one kind of gold. And this gold is bitcoin.
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August 01, 2018, 09:45:49 AM
 #31

I have found this issue a total conspiracy. American citizens are acting really strange they should insist the government for the truth. It will also questioning the stability of US government which is absolutely not good for the country.
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August 01, 2018, 09:52:34 AM
 #32

Gold is an important reserve resource in the United States, and I think they have deliberately hidden the number of gold, in order to protect the interests of the United States and maintain the existing economic order.

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August 01, 2018, 10:02:22 AM
 #33

I wish the price will increase with popularity. Unfortunately, the market conditions are very bad these days.

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August 01, 2018, 10:04:05 AM
 #34

I am very curious on why the American public has not insisted that a full audit must be done on the actual Gold that are stored in Fort Knox and other secure places in America. They blindly accept that there are lots of Gold stored in the vaults in Fort Knox and all over America. The government has no right to withhold that information, but the public is not demanding it.

Why?

1. They know that if this is true, their economy will PROBABLY collapse?
2. They are scared of their government?
3. They are just ignorant?
4. They simply do not care about this?

Why would the government go to that much trouble to hide this information from the public, if they had nothing to hide?

What do you think will happen, once the truth about this is revealed and how will this impact Bitcoin?

hard to tell what the truth is. But should it be so and there is not enough gold, then bitcoin price would surely grow, I think there is no doubt about it at all. Would be interesting to get it audited

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August 01, 2018, 10:28:05 AM
 #35

I think that bitcoin wouldn't have to depend on Gold for its popularity. As it is the best long-term investment out there, so it is already getting a lot of attention all over the world.

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August 01, 2018, 10:32:14 AM
 #36

This is a very good discussion, America is always proud of being transparent but if we think  a moment about gold  which are hidden from public, that can be a big difference for crypto market a nd of course related toBitcoin.

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August 01, 2018, 01:38:27 PM
 #37

I've not a very clear idea about this but when i heard then its hard believed
 that there's really Gold hidden in there. I think they do not care about it or
 they are scared.
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August 01, 2018, 06:27:37 PM
 #38

well this topic is really unknown to those who are US citizens but who have the interested about every day market updates they may able to know about this so if the users don't have any idea about this topic then there is no chance that it will effect on bitcoin price , but still nothing can be ensure.
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August 02, 2018, 01:14:09 AM
 #39

Given, bitcoin is a e currency and its characteristics are not at all similar to gold, it will not act the same way. Plus not all countries have the same rules and regulations.
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August 02, 2018, 01:44:19 AM
 #40

The citizens of America have every right to know about the amount of Gold being reserved there, but due to security maybe the goverment is not open about the issue. If there is no gold in Fort Knox, people will come to madness and drop all their money on BTC.
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