362.5 million oz of gold in Fort Knox valued at 615 TRILLION? - GoFuckYourself.com

Caligari · 08-08-2011, 07:56 AM

362.5 million oz of gold in Fort Knox valued at 615 TRILLION?
I have read estimates between 147 million and 362 million.
Regardless, why doesnt the govt simply sell off a very small portion of that shit to pay off debt?

Or is there really any gold left in Fort Knox?

btw that figure is based upon today's 1700/oz price

Or is that actually 615 billion...heh i could be off, fuck i can't multiply

Phoenix · 08-08-2011, 07:57 AM

there is no gold there..lol
certainly not that much anyway.

but there is gold in them there mountains..they should go and mine it and sell that to pay off their debt

Caligari · 08-08-2011, 08:02 AM

sorry i did fuck that royally-
According to the United States Mint, there is presently 147.3 million ounces of gold at Fort Knox. With today's price of $1,700 per ounce of gold, that is $250 Billion worth of gold.

so it would be 615 billion tops at the high estimate. alot of money but not nearly enough to dent the debt.

/end stupid thread

MetaMan · 08-08-2011, 08:08 AM

Quote:

Originally Posted by Caligari

sorry i did fuck that royally-
According to the United States Mint, there is presently 147.3 million ounces of gold at Fort Knox. With today's price of $1,700 per ounce of gold, that is $250 Billion worth of gold.

so it would be 615 billion tops at the high estimate. alot of money but not nearly enough to dent the debt.

/end stupid thread

you seriously think their is gold in fort knox? the usa government fucked over its people long ago.

pornmasta · 08-08-2011, 08:11 AM

Quote:

Originally Posted by MetaMan

the usa government fucked over its people long ago.

i don't think so.
At least not with gold

Best-In-BC · 08-08-2011, 08:13 AM

lol, theres no proof what sooooooooooooooooooooooooooooooooooooooooooooooooo ooo ever fort nox is empty

dyna mo · 08-08-2011, 08:17 AM

america has so much fucking gold it's silly.

PR_Glen · 08-08-2011, 08:42 AM

Quote:

Originally Posted by Phoenix

there is no gold there..lol
certainly not that much anyway.

but there is gold in them there mountains..they should go and mine it and sell that to pay off their debt

would mining more in large quantities not lower the overall prices of gold? sort of like printing more money?

not my expertise but it still falls under that supply and demand principle doesn't it?

Phoenix · 08-08-2011, 08:49 AM

Quote:

Originally Posted by PR_Glen

would mining more in large quantities not lower the overall prices of gold? sort of like printing more money?

not my expertise but it still falls under that supply and demand principle doesn't it?

yeah...they would need about 50,000 tonnes..and who ever the major holders of gold are...will be forced to buy up americas gold in order to keep the price high.

who cares if they lower the market price? probably many countries, but no one is going to do anything about it.

so...mine and sell
tada

JamesGw · 08-08-2011, 08:51 AM

Billion, not trillion. It's nowhere near enough.

woj · 08-08-2011, 08:53 AM

Quote:

Originally Posted by PR_Glen

would mining more in large quantities not lower the overall prices of gold? sort of like printing more money?

not my expertise but it still falls under that supply and demand principle doesn't it?

price only falls if you actually sell it, if you just mine it and store it, it wouldn't really effect the price... but you are right, if US government would start selling it, the price would drop...

JFK · 08-08-2011, 08:55 AM

Quote:

Originally Posted by Best-In-BC

lol, theres no proof what sooooooooooooooooooooooooooooooooooooooooooooooooo ooo ever fort nox is empty

Nor is there any proof it's full eighter. Personally, I wouldnt take the goverments word for it

seeandsee · 08-08-2011, 08:57 AM

sell it to who, nobody will buy it now

Emil · 08-08-2011, 08:57 AM

Quote:

Originally Posted by dyna mo

america has so much fucking gold it's silly.

Ahh ok, that's why they used it to pay of their debt. Nice!

dyna mo · 08-08-2011, 09:05 AM

Quote:

Originally Posted by Emil

Ahh ok, that's why they used it to pay of their debt. Nice!

as i understand it, that is not how the global financial system works.

Caligari · 08-08-2011, 09:24 AM

Quote:

Originally Posted by MetaMan

you seriously think their is gold in fort knox? the usa government fucked over its people long ago.

yah right, just because you can't see it, it's not there right?
like the creatures swimming in the 4th dimension all around you, just stimulate your pineal gland buddy.

raymor · 08-08-2011, 09:30 AM

I don't see how the gold mining business is fundamentally different than any other business. If the government went into the gold mining business, wouldn't that be essentially the same as if they went into the hamburger business?

It seems to me the government isn't in the mining business for same reason it's not in the hamburger business - it's not DESIGNED to be a business. A business isn't organized such that it argues with itself for months over whether or not to bankrupt itself by taking on debt equal to ten times it's revenue. A business doesn't take ten years to install new desktop computers after ordering them. A business doesn't estimate a project at $10 million, then spend $80 million and still not finish the project.

If government sold burgers, they would cost $42, be frozen for six months before they were sold, and require proof of income to get the value meal. Maybe FEMA could run it. If government mined gold, they would first spend $100 billion on studies analyzing the possible effects of mining $100 million in gold

Barry-xlovecam · 08-08-2011, 09:37 AM

147.2 MILLION ft knox
225.1 MILLION ny fed vaults
372.3 MILLION @ $1,700.00 OZ

632,910 MILLION* 1,000,000

$632,910,000,000.00

$632.91 BILLION

$14,459 BILLION US DEBT

That is about 4.38% of the current US Debt.

Gold held figures used: http://en.wikipedia.org/wiki/United_...ion_Depository

So, all the goldbug talk of a gold backed currency just went up in smoke ...

Want someone to blame: FDR and Richard M Nixon, they took us off the gold standard (read all about yesterday's news). FDR revoked the domestic redemption of US Currency for gold. Nixon revoked the international rights of redemption of US currency in gold by foreign governments.

ilnjscb · 08-08-2011, 09:56 AM

The fed hold the gold of some other nations as well - all the world's gold, mined and unmined proven reserves, is valued at 1.5 tril. So the USA alone owes 10 times the world reserve currency.

strobi · 08-08-2011, 11:46 AM

Quote:

Originally Posted by PR_Glen

would mining more in large quantities not lower the overall prices of gold? sort of like printing more money?

not my expertise but it still falls under that supply and demand principle doesn't it?

No because gold is one of the least rarest metals on (above ground) earth. It takes 60 years or so of mining to double the above ground volume. With copper it's just 2 or 3 weeks.

That way, gold is almost in-elastic to supply and demand (mining) forces.

shimmy2 · 08-08-2011, 01:34 PM

wait until goldfinger turns it radioactive, mr bond

BittieBucks Eric · 08-08-2011, 01:59 PM

Quote:

Originally Posted by Caligari

yah right, just because you can't see it, it's not there right?
like the creatures swimming in the 4th dimension all around you, just stimulate your pineal gland buddy.

Devil's advocate: just because you heard about it, it's there...right?

Barry-xlovecam · 08-08-2011, 02:49 PM

They really gold plated lead bars ...

Where is that tin foil roll?

GatorB · 08-08-2011, 05:33 PM

First of all all the gold the US would only pay of a very small portion of the debt. Secondly as soon as the US started flooding the market with gold the price of gold would drop thus earning the US even less money.

Caligari · 08-08-2011, 05:41 PM

Quote:

Originally Posted by BittieBucks Eric

Devil's advocate: just because you heard about it, it's there...right?

what do you mean, the gold or the creatures in the 4th dimension;)

Slambino · 08-09-2011, 12:17 AM

Quote:

Originally Posted by Caligari

362.5 million oz of gold in Fort Knox valued at 615 TRILLION?

Don't count on it.

BittieBucks Eric · 08-09-2011, 05:39 AM

Quote:

Originally Posted by Caligari

what do you mean, the gold or the creatures in the 4th dimension;)

The gold ofcourse. The 4th dimension is time ;)

Nicky · 08-09-2011, 06:55 AM

Thread fail

Phoenix · 08-09-2011, 08:24 AM

Quote:

Originally Posted by GatorB

First of all all the gold the US would only pay of a very small portion of the debt. Secondly as soon as the US started flooding the market with gold the price of gold would drop thus earning the US even less money.

im not so sure actually.
i think countries holding gold would be forced to buy it
or see their worth diminish

you could flood the market with 50k tonnes of gold...and 2-3 countries bought it all...i dont think the price would be affected that much

WiredGuy · 08-09-2011, 02:55 PM

I doubt Fort Knox actually has any gold (significant amounts) even left. I'm pretty sure the US had to give it out to lenders as security when borrowing against the deficit.
WG

08-08-2011, 07:56 AM	#1
Caligari Confirmed User Industry Role: Join Date: Oct 2009 Location: At The Mountains Of Madness Posts: 5,414	362.5 million oz of gold in Fort Knox valued at 615 TRILLION? 362.5 million oz of gold in Fort Knox valued at 615 TRILLION? I have read estimates between 147 million and 362 million. Regardless, why doesnt the govt simply sell off a very small portion of that shit to pay off debt? Or is there really any gold left in Fort Knox? btw that figure is based upon today's 1700/oz price Or is that actually 615 billion...heh i could be off, fuck i can't multiply __________________ ATTN Webmasters Cruel Bucks - LIVE Gonzo Does Not Pay ------------------------------------------------ Animal Rescue Click Here to Feed An Animal for Free Last edited by Caligari; 08-08-2011 at 07:58 AM..

08-08-2011, 07:57 AM	#2
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,457	there is no gold there..lol certainly not that much anyway. but there is gold in them there mountains..they should go and mine it and sell that to pay off their debt __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

08-08-2011, 08:02 AM	#3
Caligari Confirmed User Industry Role: Join Date: Oct 2009 Location: At The Mountains Of Madness Posts: 5,414	sorry i did fuck that royally- According to the United States Mint, there is presently 147.3 million ounces of gold at Fort Knox. With today's price of $1,700 per ounce of gold, that is $250 Billion worth of gold. so it would be 615 billion tops at the high estimate. alot of money but not nearly enough to dent the debt. /end stupid thread __________________ ATTN Webmasters Cruel Bucks - LIVE Gonzo Does Not Pay ------------------------------------------------ Animal Rescue Click Here to Feed An Animal for Free Last edited by Caligari; 08-08-2011 at 08:04 AM..

08-08-2011, 08:13 AM	#6
Best-In-BC Confirmed User Join Date: Jun 2002 Posts: 9,506	lol, theres no proof what sooooooooooooooooooooooooooooooooooooooooooooooooo ooo ever fort nox is empty __________________ Vacares - Web Hosting, Domains, O365, Security & More Unparked domains burning a hole in your pocket? 5 Simple Ways to Make Easy $$$ from Unused Domains

08-08-2011, 08:51 AM	#10
JamesGw Confirmed User Industry Role: Join Date: Apr 2011 Posts: 1,237	Billion, not trillion. It's nowhere near enough. __________________ Giggles.com has a huge selection of sex toys. Need backlinks? Ask to guest post on our adult blog.

08-08-2011, 08:17 AM	#7
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 64,376	america has so much fucking gold it's silly.

08-08-2011, 08:57 AM	#13
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	sell it to who, nobody will buy it now __________________ BUY MY SIG - 50$/Year Contact here

08-08-2011, 09:30 AM	#17
raymor Confirmed User Join Date: Oct 2002 Posts: 3,745	I don't see how the gold mining business is fundamentally different than any other business. If the government went into the gold mining business, wouldn't that be essentially the same as if they went into the hamburger business? It seems to me the government isn't in the mining business for same reason it's not in the hamburger business - it's not DESIGNED to be a business. A business isn't organized such that it argues with itself for months over whether or not to bankrupt itself by taking on debt equal to ten times it's revenue. A business doesn't take ten years to install new desktop computers after ordering them. A business doesn't estimate a project at $10 million, then spend $80 million and still not finish the project. If government sold burgers, they would cost $42, be frozen for six months before they were sold, and require proof of income to get the value meal. Maybe FEMA could run it. If government mined gold, they would first spend $100 billion on studies analyzing the possible effects of mining $100 million in gold Last edited by raymor; 08-08-2011 at 09:33 AM..

08-08-2011, 09:37 AM	#18
Barry-xlovecam It's 42 Industry Role: Join Date: Jun 2010 Location: Global Posts: 18,083	147.2 MILLION ft knox 225.1 MILLION ny fed vaults 372.3 MILLION @ $1,700.00 OZ 632,910 MILLION* 1,000,000 $632,910,000,000.00 $632.91 BILLION $14,459 BILLION US DEBT That is about 4.38% of the current US Debt. Gold held figures used: http://en.wikipedia.org/wiki/United_...ion_Depository So, all the goldbug talk of a gold backed currency just went up in smoke ... Want someone to blame: FDR and Richard M Nixon, they took us off the gold standard (read all about yesterday's news). FDR revoked the domestic redemption of US Currency for gold. Nixon revoked the international rights of redemption of US currency in gold by foreign governments.

08-08-2011, 09:56 AM	#19
ilnjscb Confirmed User Industry Role: Join Date: Jun 2009 Posts: 8,822	The fed hold the gold of some other nations as well - all the world's gold, mined and unmined proven reserves, is valued at 1.5 tril. So the USA alone owes 10 times the world reserve currency. Last edited by ilnjscb; 08-08-2011 at 10:02 AM.. Reason: Them Damn Melungens

08-08-2011, 01:34 PM	#21
shimmy2 Confirmed User Industry Role: Join Date: Mar 2009 Location: Dominican Republic Posts: 3,245	wait until goldfinger turns it radioactive, mr bond __________________ Make $$$ with Toticos.com! \| Email: 1bluemiata@gmail \| Joutube: ShimmyCash \| Faceberg: ShimmyCash

08-08-2011, 02:49 PM	#23
Barry-xlovecam It's 42 Industry Role: Join Date: Jun 2010 Location: Global Posts: 18,083	They really gold plated lead bars ... Where is that tin foil roll?

08-08-2011, 05:33 PM	#24
GatorB The Demon & 12clicks Industry Role: Join Date: Oct 2001 Location: SallyRand is a FAGGOT Posts: 18,208	First of all all the gold the US would only pay of a very small portion of the debt. Secondly as soon as the US started flooding the market with gold the price of gold would drop thus earning the US even less money.

08-09-2011, 06:55 AM	#28
Nicky Judge Jury and Executioner Industry Role: Join Date: Mar 2003 Location: Sweden Posts: 30,069	Thread fail __________________ gfynicky @ gmail.com

08-09-2011, 02:55 PM	#30
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,460	I doubt Fort Knox actually has any gold (significant amounts) even left. I'm pretty sure the US had to give it out to lenders as security when borrowing against the deficit. WG __________________ I play with Google.