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Author Topic: Bitcoin popularity will increase, when no Gold is found in Fort Knox.  (Read 334 times)
TradeParty
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August 04, 2018, 08:53:19 AM
 #61

The main thing is we might never see a full audit of Fort Knox and other secure sites. So maybe we will never get this answer. Now the only thing backing up the dollar is the faith of the US government.

   
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August 04, 2018, 11:22:24 AM
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 #62

Another conspiracy theory courtesy of YouTube. So we need to break into Fort Knox to get proof that the golds there don’t exist, then bitcoin will become more popular?  Sad.   Which is next to impossible. How about the golds in the US Federal Reserve? I heard it is less secure.  LOL
 

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August 06, 2018, 05:56:18 AM
 #63

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

Cooking the books is a specialty of the US state. There was a big controversy about the Fannie Mae and Freddie Mac loan programs that were supposedly supposed to provide affordable housing. A LOT of money was being tunneled out of there and put away somewhere. No one really knows where it was going, but there's a conspiracy that they were using it for a secret space program. Regardless of where it was going, there was billions disappearing.

Like you said, this is what they could be doing with gold. Letting some of it disappear when the time is right and then collecting the money elsewhere. I just wonder what you'd need all that money for.
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August 06, 2018, 09:59:46 AM
 #64

Another conspiracy theory courtesy of YouTube. So we need to break into Fort Knox to get proof that the golds there don’t exist, then bitcoin will become more popular?  Sad.   Which is next to impossible. How about the golds in the US Federal Reserve? I heard it is less secure.  LOL
 
It is not a conspiracy theory. It is very easy to dismiss an inconvenient theory by labeling it "conspiracy".

Actually even if it were conspiracy, what would be wrong with that? People conspire all the time.

Warren Buffet once bought a lot of silver futures (the future market operates daily in multitudes of all silver and gold in existence in the world) and instead of accepting the price difference what was customary after the contract date has expired, he said "pay me the contract value in silver" causing havoc in the markets, because nobody had the silver (!)

The same may be with all that gold in Ford Knox Smiley

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August 06, 2018, 01:53:14 PM
 #65

US Mint Releases New Fort Knox "Audit Documentation": First Critical Observations
- https://www.zerohedge.com/news/2017-02-28/us-mint-releases-new-fort-knox-%E2%80%9Caudit-documentation%E2%80%9D-first-critical-observations

Mnuchin Visits Fort Knox, Says "Gold Is Safe"
- https://www.zerohedge.com/news/2017-08-21/mnuchin-visits-fort-knox-says-gold-safe

U.S. Treasury Secretary: I Assume Fort Knox Gold Is Still There
- https://www.zerohedge.com/news/2017-08-22/us-treasury-secretary-i-assume-fort-knox-gold-still-there

The Truth About Bundesbank Repatriation of Gold From U.S.
- https://www.zerohedge.com/news/2017-08-25/truth-about-bundesbank-repatriation-gold-fort-knox

Stunning Photos From Inside Russia's "Fort Knox"
- https://www.zerohedge.com/news/2018-01-11/stunning-photos-inside-russias-fort-knox

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August 15, 2018, 12:00:17 PM
 #66

Of course  there is a lot of gold in Fort Knox. Why would there not be?

Nowadays there is this thing called "paper gold" and it makes it possible that Fort Knox is FULL of gold and at the same time there is no gold left.

All the gold may have been sold already  (as paper gold), while the physical gold is still stored in Fort Knox. As a matter of fact there is more paper gold than actual gold...

Remember what happened when Germany wanted to move its gold back to Germany. US could not deliver, because all the gold was already used backing up some commitments etc. So they made a deal of delivering the gold a small amount at a time.

I haven't followed if Germany already got their gold back. Probably most of it alredy. 

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August 15, 2018, 12:11:05 PM
 #67

There are a lot of rumors about the gold reserves of America and Fort Knox in particular. It's hard to say what happens if it turns out to be true or false, but it will definitely affect the economic situation and bitcoin too.
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August 15, 2018, 12:47:56 PM
 #68

At the same time, there's no direct relation between gold price and btc price. I would say it will depend on whether btc will be chosen as a store of value. It's now too volatile, although many people treat btc as a store of value due to its deflation nature.
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August 16, 2018, 07:06:27 AM
 #69

Officialy in Fort Knox there is gold worth 100 billion USD. The US debt is 21 000 billion USD (after http://www.usdebtclock.org/ ). So it really does not matter if the gold is there or not. It is an insignificant amount of money, which could be compared to counting change money in your pocket when at the dealer's you want to buy a luxury car.


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August 17, 2018, 08:24:02 AM
 #70

Officialy in Fort Knox there is gold worth 100 billion USD. The US debt is 21 000 billion USD (after http://www.usdebtclock.org/ ). So it really does not matter if the gold is there or not. It is an insignificant amount of money, which could be compared to counting change money in your pocket when at the dealer's you want to buy a luxury car.

Well I started digging and it seems that not only in Fort Knox there is not enough gold to pay off US national debt (it could pay off roughly 1-2% of it) but in all the human history not enough gold has been mined to pay it off. Source: https://www.quora.com/How-much-gold-is-in-Fort-Knox-and-is-it-enough-to-get-the-USA-out-of-debt-What-would-happen-if-all-that-gold-was-cashed-in

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August 19, 2018, 11:25:27 PM
 #71

Bitcoin is really blessing for market based on this coin I think this is not related to gold but govt. mainly hidden gold from the citizens also there are some reason for politics they don't want to accept this crypto currency because it is decentralized.
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August 19, 2018, 11:29:15 PM
 #72

I think indeed their economy would collapse, they left the gold standard a long time ago, and the entire world knows that incase US would "fall" economically it'd ripple worldwide so we all pretend it's alright!  Lips sealed

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August 19, 2018, 11:31:11 PM
 #73

I think gold is an asset that can store our values safely, of course, the public will give a bad response and create this assumption is unfair.

but, I see that gold and bitcoin are two currencies that will survive and have value in the future.

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August 19, 2018, 11:49:22 PM
 #74

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?
The public is stupid, come on, they elected Donald Trump as the President. The Government can actually hide that stuff and not say anything about it. There are many legit and illegit reasons for it, depends on what the controlling person wants.  Roll Eyes

1. They know that if this is true, their economy will PROBABLY collapse?
If the US collapses, the entire world economy will. People are still too dependent on the US. They just don't realize it much.

2. They are scared of their government?
Well, they are scared that might be jailed or you know...murdered or maybe get threats of other kind. Its the US after all, kids were killed in school.

3. They are just ignorant?
Could be a possibility. People might be more focused on the weed or how many one-night stands they had.

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

What do you think will happen, once the truth about this is revealed and how will this impact Bitcoin?
This has nothing to do with bitcoin, 0% relevancy here. Whatever happens, not a lot of people will move their reactions to bitcoin, unless its intentionally/forcibly guided there.


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August 20, 2018, 12:37:07 AM
 #75

Yeah they actually interviewed the guys who were taking it out in the middle of the night.  LOL.  The population is so dumbed down at this point they will not understand the implications. 

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August 22, 2018, 09:50:13 PM
 #76

It's so obvious that the actual amount of Gold is hidden from the public. Probably they're insecure as it could cause the whole system go unstable and result in more problems and destruction.
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August 23, 2018, 07:11:01 AM
 #77

Most at times lies are bad. But on few occasions a lie protect a bigger interest. The truth cannot be hidden forever. At its own time, citizens will demand accountability. If the American government has no gold in the Fort Knox, it will resurface soon. Bitcoin can rise without the fall of gold. It just needs publicity and credibility to encourage investors to channel their resources to that way.
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August 23, 2018, 07:31:42 AM
 #78

But gold market price will be high also if that is the case. Well as we all know that gold could be mine and there is no way that gold will not be found or there will be a shortage of gold supply. So probably bitcoin will not going to be affected with gold perhaps people investing in gold will going to consider bitcoin's worth of investments.

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