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Author Topic: Bitcoin popularity will increase, when no Gold is found in Fort Knox.  (Read 351 times)
Kakmakr
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July 29, 2018, 07:11:09 AM
Merited by BestWebCreator (5), Foxpup (4)
 #1

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?

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July 29, 2018, 07:24:22 AM
 #2

it is true that the amount of gold is hidden from the public, and I think America is afraid of all the gold they have in public, and I think it could threaten the stability of government, and that could increase the price of bitcoin.

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July 29, 2018, 07:48:47 AM
 #3

Perhaps it could be one of the biggest lie the US government is hiding from the public if there's no Gold is found in Fort Knox, there's no even an audit how much reserves they really got. I'm not a US citizen but until we see a audit, its hard believed that there's really Gold hidden in there. Will Bitcoin be the Gold 2.0 if there's no Gold found in Fort Knox? maybe. Investors might suddenly look for a good hedge and bitcoin is the best instrument and offer that "safety" to the investors.

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July 29, 2018, 08:04:14 AM
 #4

Perhaps it could be one of the biggest lie the US government is hiding from the public if there's no Gold is found in Fort Knox, there's no even an audit how much reserves they really got. I'm not a US citizen but until we see a audit, its hard believed that there's really Gold hidden in there. Will Bitcoin be the Gold 2.0 if there's no Gold found in Fort Knox? maybe. Investors might suddenly look for a good hedge and bitcoin is the best instrument and offer that "safety" to the investors.

I should think that a lot of "Goldbugs" would seriously reconsider their investment in Gold, if they found out that there are ZERO Gold in Fort Knox and some of these people would start investing in other commodities that actually exist.  Roll Eyes

In 2015, the US Mint sold about $1.2 Billion worth of American Eagle and American Buffalo coins. Where is this Gold coming from?

How much of the Gold price is being manipulated with Gold that were stored in Fort Knox and what did the government use that Gold for, if it is not there anymore? Questions needs to be answered and the US citizens should demand these answers.  Wink 

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July 29, 2018, 08:09:02 AM
 #5

Its a very intriguing conspiracy theory. There are 2 questions which stands out,
Why is it that so few people including american presidents actually been inside
fort knox to view the physical gold or indeed why no audits been ordered?

Because there is either no gold or not as much as accounted for!

Its strange how its not talked about, strange how the 'missing elephant in the room'
is being ignored by people in authority.

My thought is that if it was known that there is no gold it would turn the world
economy into turmoil or 'melt down' so governments are happy to ignore
the missing elephant.


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July 29, 2018, 09:15:43 AM
 #6

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?

What is the problem if public didn't want to know?  It is gold, precious metal.  I don't think to show it off to public is a good idea.  Why so much hate?  Why lot of people want American economy collapse?  If American economy collapse, I think rest of the world will follow.  I'm not American by the way, but how about your country?  Do your government show the gold reserve to public?

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July 29, 2018, 10:09:57 AM
 #7

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 point is, we might never see a full audit of Fort Knox and other secure sites. So this question might never be answered.
Plus, since the gold standard was abandoned decades ago,it might not really make a difference. After all, the only thing backing up the dollar now is the faith of the US government.


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July 29, 2018, 10:53:42 AM
 #8

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 point is, we might never see a full audit of Fort Knox and other secure sites. So this question might never be answered.
Plus, since the gold standard was abandoned decades ago,it might not really make a difference. After all, the only thing backing up the dollar now is the faith of the US government.

It does not matter if the gold standard was abandoned, the American citizens and the rest of the world needs to know what happened with that Gold. I might be wrong, but someone told me once that not even other countries that stored their Gold there, are allowed to check if the Gold is still there, so it is not just American Gold being stored there.

They might have relocated some of the Gold that was there, but nobody knows. <Remember the Gold that was removed from the ruble after the 911 attack?>

Who says all the Gold bars is solid Gold? It can contain lead and be coated by Gold.

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July 29, 2018, 11:00:07 AM
 #9

Here me out on this one, The government of the USA has the right to withhold information especially when it involves a threat to national security disclosing such information or confirming that their is Gold in Fort Knox will make that place a known target for criminals or even terrorist who really wants the economy of USA collapse, saying that there is no Gold in Fort Knox will definitely give a massive panic but the most brilliant way to avoid this is stating that the gold is on an undisclosed place well guarded by the government.

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July 29, 2018, 11:32:19 AM
 #10

Here me out on this one, The government of the USA has the right to withhold information especially when it involves a threat to national security disclosing such information or confirming that their is Gold in Fort Knox will make that place a known target for criminals or even terrorist who really wants the economy of USA collapse, saying that there is no Gold in Fort Knox will definitely give a massive panic but the most brilliant way to avoid this is stating that the gold is on an undisclosed place well guarded by the government.

You are 100% correct, but why not disclose this to a reputable citizen that are not associated with the American government? They do not even have guards inside Fort Knox, according to a previous guard that worked there. All of the security measures are on the outside to prevent people from knowing what is going on in the inside.

It would be stupid to store all your Gold in one place, because one Nuke will render all that gold worthless, but some of Americas most precious original documents are also being stored there.  Wink

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July 29, 2018, 12:11:04 PM
 #11

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.

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July 29, 2018, 12:26:06 PM
 #12

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?

I think that the gold kept by the American government must be informed of the truth, especially for the financial stability of the American government. If there is a lie, people do not believe and the possibility of gold prices slump. Investors will look for safer financial instruments, one of which is bitcoin.
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July 29, 2018, 02:08:44 PM
 #13

Here me out on this one, The government of the USA has the right to withhold information especially when it involves a threat to national security disclosing such information or confirming that their is Gold in Fort Knox will make that place a known target for criminals or even terrorist who really wants the economy of USA collapse, saying that there is no Gold in Fort Knox will definitely give a massive panic but the most brilliant way to avoid this is stating that the gold is on an undisclosed place well guarded by the government.

You are 100% correct, but why not disclose this to a reputable citizen that are not associated with the American government? They do not even have guards inside Fort Knox, according to a previous guard that worked there. All of the security measures are on the outside to prevent people from knowing what is going on in the inside.

It would be stupid to store all your Gold in one place, because one Nuke will render all that gold worthless, but some of Americas most precious original documents are also being stored there.  Wink
Well it only take 1 person to spill out the beans, especially when he/she is reputable spilling that kind of confidential info would mean disaster to the government and the US economy that is what you don't want to happen. The US government won't obviously wast their money and resources in guarding/depending Fort Knox if it does not contain anything, even if it is not Gold they are storing they might be protecting something precious or important inside, I don't even think that they are faking it just to fool everyone in the public.

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stompix
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July 29, 2018, 04:58:10 PM
 #14

1. They know that if this is true, their economy will PROBABLY collapse?

Why would a 19 trillion economy (per year) collapse because of 100 billions of gold?
The most expensive houses in the most luxurious part of Bel Air are half of that Smiley.
Just the top ten are worth 1.5 billion Smiley


2. They are scared of their government?

Define government.

4. They simply do not care about this?

Yup. Nobody gives a damn. You shouldn't either.

It would be stupid to store all your Gold in one place, because one Nuke will render all that gold worthless, but some of Americas most precious original documents are also being stored there.  Wink

Nope, it won't. Smiley.
Nuclear weapons are nothing like nuclear reactors, see current day Hiroshima, so the gold won't get radioactive.
Also, it will not get blown away too far since it's already underground so it will be easy to recover, as most will just liquify temporarily


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July 29, 2018, 05:30:17 PM
 #15

All I know is that after 1970 the United States did not have enough gold to dominate the world, so they printed a lot of money for promises that it is worth a lot. "So, in theory, gold is less than what you expect."
1. No.
It does not matter, but if the current system fails, the United States has enough gold to offset the dollar's collapse.
The effect will be indirect by attracting people to buy assets that have values "it’s self + economic" as gold & diamonds and Unsupported money from dollars to Bitcoin.

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July 29, 2018, 05:35:21 PM
 #16

All I know is that after 1970 the United States did not have enough gold to dominate the world, so they printed a lot of money for promises that it is worth a lot. "So, in theory, gold is less than what you expect."
1. No.
It does not matter, but if the current system fails, the United States has enough gold to offset the dollar's collapse.
The effect will be indirect by attracting people to buy assets that have values "it’s self + economic" as gold & diamonds and Unsupported money from dollars to Bitcoin.
Interesting opinion, it seems that gold and diamond mass will still dominate rather than bitcoin if for example the American dollar falls.
but what if I say bitcoin as a second alternative?
I'm pretty sure people would prefer bitcoin rather than gold.
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July 29, 2018, 05:40:43 PM
 #17

So far there was no precedent of Bitcoin's price moving as a reaction to some negative economic events in the world. The news sometimes try to tie Bitcoin's price movements to economic events in some countries, but that is most likely just a coincidence. Bitcoin supporters generally consider it as a hedge against fiat economy, but it's not enough to it really being a hedge, because the whole fiat economy should share this view. If we'll have an economic crash tomorrow, will Warren Buffet buy BTC or will he still think of it as "rat poison"?

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July 29, 2018, 05:42:49 PM
 #18

All I know is that after 1970 the United States did not have enough gold to dominate the world, so they printed a lot of money for promises that it is worth a lot. "So, in theory, gold is less than what you expect."
1. No.
It does not matter, but if the current system fails, the United States has enough gold to offset the dollar's collapse.
The effect will be indirect by attracting people to buy assets that have values "it’s self + economic" as gold & diamonds and Unsupported money from dollars to Bitcoin.
Interesting opinion, it seems that gold and diamond mass will still dominate rather than bitcoin if for example the American dollar falls.
but what if I say bitcoin as a second alternative?
I'm pretty sure people would prefer bitcoin rather than gold.
Agree with your comments. Currently, some people are selling gold and investing in Bitcoin. I think the price of gold will fall this year. The choice to invest in Bitcoin is quite right. Because I think Bitcoin is better than gold

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July 30, 2018, 06:09:35 AM
 #19

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

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July 30, 2018, 06:19:42 AM
 #20

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

That's why it is in their best interest to keep up the lie if there's nothing in those vaults? They want to keep a semblance of credibility in the face of their recent loss of the people's trust. It also helps to keep the price of gold down because that's an extra several million ounces in supposed circulation, which also drives up the dollar's value.

I don't think any government would ever let their people know that there is an empty vault and several million ounces are missing anyway. They'd be shooting themselves in the foot.

As far as bitcoin is concerned, I don't think that it would encourage people to invest in it if they found out this gold is missing. If anything, it'll fuel the conspiracies of the goldbugs and they'd rush to buy more because they'd see the value as higher than it actually is.
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