Secretary Paulson directs US Treasury to sell Fort Knox gold for FED cash!!

Discussion in 'Wall St. News' started by Trendytrader, Mar 18, 2008.

  1. Are you wondering why gold is down?

    My sources tell me that there have been a lot of activity of armoured trucks coming and going from the Fort Knox bullion depository building today.

    Secretray of the Treasury none other than the robber barron himself Secretary Paulson has directed the US Treasury to liquidate a large quantity of Fort Knox gold to raise more cash for Federal Reserve. FED is running low on cash...printing press broke down yesterday after being over worked during the last three days.

    Hard to keep secrets in todays world. My lips are sealed.
  2. Daal


    I heard there is very little gold at fort knox and its the ny fed who holds the most these days
  3. clacy


    Maybe Paulson knows something about the future direction of the US dollar, and therefore the price of gold. Might as well sell at the high, if he thinks it's going down.
  4. FED have $13B in gold mostly at NY FED. US treasury have the bulk of it $248B. Fort Knox alone had $147B of deep storage bullion (less now after the forced liquidation for FED)

    Deep Storage: Deep-Storage gold is the portion of the U.S. government-owned Gold Bullion Reserve that the U.S. Mint secures in sealed vaults, which are examined annually by the Department of Treasury's Office of the Inspector General. Deep-Storage gold comprises the vast majority of the Reserve and consists primarily of gold bars. This portion was formerly called "Bullion Reserve" or "Custodial Gold Bullion Reserve."
  5. mokwit


    They should give it back to the heirs of the people they confiscated it from in the 1930's.
  6. Histroy never repeats.....Change it to President Bush "I have directed the Secretray of the Treasury to sell the gold reserves."

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  7. The only thing they do at Fort Knox is test Haliburton food on unsuspecting recruits.
  8. Daal


    why they dont mention that on the US International Reserve Position?
    I checked and it showed
    "The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $75,366 million as of the end of that week, compared to $74,266 million as of the end of the prior week.

    (4) gold (including gold deposits and, if appropriate, gold swapped)
  9. Opps I quoted the wrong column the bulk of the fine troy counces are at Fort Knox.
  10. As I said yesterday the US Treasury has a little less gold in the vault today.....and everyone is wondering why the price of gold is dropping in the face of inflation.
    #10     Mar 19, 2008