What is not often covered in the media are the audits of the US official gold reserves stored at the US Mint, which is the custodian for 95 % (7716 tonnes) of the stash – also referred to as deep storage, and at the Federal Reserve Bank Of New York that safeguards the remaining 5 % (418 tonnes).
The lawful owner of the US official gold reserves is the US Treasury.
Part one covered the most recent records I could find published by the US government, in this post we’ll examine more historical records and approach this matter from a more critical angle.
For those dreading tonight’s State of the Union address, Here’s something different for you. Ron Paul produced a “State of Liberty” speech, and it was released earlier today. Check out Ron’s full “State of Liberty’ 2015 address below-
I dare say it will easily be more inspiring than the drivel about to invade the airwaves.
On November 30th, voters in Switzerland will head to the polls to vote in a referendum on gold.
On the ballot is a measure to prohibit the Swiss National Bank (SNB) from further gold sales, to repatriate Swiss-owned gold to Switzerland, and to mandate that gold make up at least 20 percent of the SNB’s assets.
Arising from popular sentiment similar to movements in the United States, Germany, and the Netherlands, this referendum is an attempt to bring more oversight and accountability to the SNB, Switzerland’s central bank.
Will the Swiss throw a wrench into Western Central Banks’ plans by voting to get their gold back??
A run on gold from foreign countries repatriating their dollars made it clear that there was a lack of faith in Nixon’s Keynesian policies.
To stop this, Nixon refused to allow these transactions by closing the gold window, ushering in 43 years of a fiat Dollar standard. The world has suffered the consequences ever since.
Do you think we would be better off if Nixon hadn’t nixed the convertibility of the U.S. dollar into gold?
In the MUST WATCH video below, Ron Paul dissects Nixon closing the gold window: A Day That Lives in Infamy:
The memo has apparently gone out: Don’t mention this guy or his ideas or policy prescriptions.
If someone with real and great influence did offer a public “mea culpa” about Ron Paul and begin to preach from his campaign playbook, Paul’s ideas would suddenly move from the “cult” fringe into the mainstream.
This “revolution” in outlook will occur when the majority of Americans (and even economists and politicians) come to realize that the things Ron Paul said we’re going to cause a crisis of historic proportions actually did.
In this MUST WATCH interview with Alex Jones, former Presidential candidate Ron Paul warns that “The Federal Reserve’s global hegemony is crumbling. The lines are being drawn by the new BRICS banks, and we as a people need to prepare for the coming banking collapse.”
We’re closer to that point where there may be a precipitous fall (in the dollar). The dollar has already lost 99% of its value, what if you lose the rest of it or 100%- that’s a big deal. If you look at all the currency destructions around the world, the end stages go rapidly.”
Paul’s full interview is below:
Dr Ron Paul, the popular Presidential candidate and America and the world’s most popular libertarian voice, told CNBC yesterday that he “still believes in gold” and that “gold could go to infinity.”
Paul informed the MSM host why the long term case for gold remains intact (while Jackie DeAngelis stated gold’s 8% performance year to date is disappointing):
“Timing is the only thing. I remember watching gold when it was 35 dollars an ounce and we thought if it ever hit a hundred dollars, the world would come to an end. And then a thousand dollars, so; no, it’s good as long as we continues to do this [print money] , you know, it could go to infinity because when people just leave the dollar, who knows what.”
It had to be Russia; it had to be Putin, they said. President Obama held a press conference to claim – even before an investigation – that it was pro-Russian rebels in the region who were responsible.
His ambassador to the UN, Samantha Power, did the same at the UN Security Council – just one day after the crash!
While western media outlets rush to repeat government propaganda on the event, there are a few things they will not report.
Congressman & former Presidential Candidate Ron Paul joins the show this week, discussing:
- Putin’s response to US sanctions with economic retaliation- implications for US economy & the US Dollar- It is very significant, dumping of US dollars has begun…The dollar can’t be maintained. One reason the dollar has been sustained as well as it has been is who wants to buy yuan or euros? But ultimately they will buy the real money, and that’s gold!
- Paul on the Coming collapse of the dollar & all fiat currencies: Officials in charge of monetary policy are very aware of what’s coming- they believe as long as it is orderly they will be ok…The problem is when people lose confidence in a currency, they lose confidence completely. There’s nothing orderly about it! There’s always a panic, and that’s hard to manage. There will be a day when people will panic in the financial markets, not only in the dollar, but in the world-wide system!
- The former member of the House Financial Services Committee explains why his nemesis at the Federal Reserve works so hard to discredit gold, and what he wishes he would have asked Ben Bernanke during his grilling of the Fed Chairman at his House Hearings on the Fed’s Monetary Policy.
The MUST LISTEN SD Metals & Markets with Former Presidential Candidate, Sound Money & Freedom Champion Ron Paul is below:
Congressional candidate Dennis Linthicum joins Metals & Markets to discuss the blueprint to ending the Fed, as well as:
- CME announces plans to launch a PHYSICALLY SETTLED gold exchange in Asia
- Russian media reporting that Russia, Kazakhstan and Belarus will sign an agreement in May to accelerate the formation of an economic union and a joint “gold” currency: the Altyn
- Ukraine on the brink; Washington’s grand game of chicken
- Congressional candidate Dennis Linthicum on restoring sound money & abolishing the Fed
The SD Weekly Metals & Markets With special guest Dennis Linthicum is below:
Ron Paul, who was a a well informed member of the US House of Representatives in 2011, proposed new legislation at the time to have yearly audits of the US official gold reserves: The Gold Reserve Transparency Act (not enacted).
Only during the preparation of the congressional hearing Dr Paul became aware there had been yearly audits in recent decades. Strangely the biggest proponent of a gold standard in US politics didn’t have access to this information prior to the investigation.
The reaction of Sen. Dianne Feinstein (D-CA) to last week’s revelations that the CIA secretly searched Senate Intelligence Committee computers reveals much about what the elites in government think about the rest of us. “Spy on thee, but not on me!”
The hypocrisy of Sen. Feinstein is astounding. She is the biggest backer of the NSA spying on the rest of us, but when the tables are turned and her staff is the target she becomes irate. But there is more to it than that. There is an attitude in Washington that the laws Congress passes do not apply to Members. They can trample our civil liberties, they believe, but it should never affect their own freedom.
Last week, Federal Reserve Chairman Janet Yellen testified before Congress for the first time since replacing Ben Bernanke at the beginning of the month. Her testimony confirmed what many of us suspected, that interventionist Keynesian policies at the Federal Reserve are well-entrenched and far from over. Mrs. Yellen practically bent over backwards to reassure Wall Street that the Fed would continue its accommodative monetary policy well into any new economic recovery. The same monetary policy that got us into this mess will remain in place until the next crisis hits.
Isn’t it amazing that the same people who failed to see the real estate bubble developing, the same people who were so confident about economic recovery that they were talking about “green shoots” five years ago, the same people who have presided over the continued destruction of the dollar’s purchasing power never suffer any repercussions for the failures they have caused?