America’s Missing Gold: The BIGGEST Cover-up in History

The Mystery of U.S. Gold Reserves

Overview of U.S. Gold Holdings

• The United States claims to possess over 8,000 tons of gold, primarily stored in Fort Knox, the U.S. Mint, and the Federal Reserve Bank of New York.

• The official book value of this gold is set at $42.22 per ounce, totaling approximately $11 billion, which is significantly lower than its current market value.

Historical Context

• There are ongoing questions about the actual status of these gold reserves and why they haven't been audited recently.

• The accumulation of gold began in 1933 when President Franklin Roosevelt ended the gold standard for citizens and mandated the confiscation of privately held gold.

Development and Peak of Gold Reserves

• Fort Knox was established in 1936 to store large amounts of seized gold; by 1941, U.S. reserves peaked with over 20,000 metric tons.

• The Bretton Woods Agreement in 1944 linked the U.S. dollar directly to gold at a rate of $35 per ounce, enhancing global confidence in the dollar's value.

Decline and Transition from Gold Standard

• In the post-war era (1950s-1960s), trade deficits led to a decrease in U.S. gold reserves as countries began redeeming their dollars for gold.

• On August 15, 1971, President Nixon closed the "gold window," ending convertibility between dollars and gold and transitioning to a fiat currency system.

Current Status and Implications

• Although no longer backed by physical gold, the Federal Reserve holds a claim on it through certificates issued by the Treasury.

• Despite being valued at only $11 billion on paper due to outdated accounting practices, this reserve still plays a crucial role in maintaining perceived stability for the dollar.

Gold Reserves and Public Trust: A Deep Dive

Theoretical Revaluation of Gold Reserves

• If gold were marked to market, the U.S. Treasury could issue more gold certificates to the Federal Reserve in exchange for additional dollars, potentially adding hundreds of billions to treasury assets.

• Increased treasury assets could help reduce national debt and stabilize the economy, raising questions about why this revaluation isn't pursued.

Public Skepticism and Secrecy

• Despite government assurances about gold safety, public skepticism persists due to secrecy surrounding Fort Knox; access is restricted, fueling speculation.

• Historical claims suggest that much of Fort Knox's gold was secretly removed during the 1960s, with rumors alleging President Lyndon B. Johnson shipped tons of gold abroad.

Ownership and Storage Controversies

• Some theories propose that while the U.S. may have gold reserves, they might not belong to the country as Fort Knox historically safeguarded foreign nations' gold during conflicts.

• Official accounts state that most foreign-owned gold has been returned; however, some believe U.S. officials may have swapped or loaned out reserves without public knowledge.

Counterfeit Concerns

• Speculation exists regarding counterfeit bars within official reserves; a 2009 unverified report suggested China received fake gold bars.

• Congressman Ron Paul raised concerns about whether Fort Knox's bars are authentic or possibly tungsten-plated fakes designed to mimic real gold.

Audit History and Transparency Issues

• Calls for a comprehensive audit arise amid claims that some U.S. gold may have been sold or leased during financial crises; however, no thorough audits have been publicly released since Eisenhower's limited inspection in 1953.

• The last full audit occurred over 70 years ago and involved only a small percentage of bars being checked for authenticity.

Government Responses and PR Moves

• In response to public doubt in the 1970s, a staged event allowed Congress members media access to view stacks of gold at Fort Knox but lacked rigorous auditing measures.

• Subsequent audits from 1975 to 1981 confirmed no discrepancies but did not constitute a complete verification process; only portions of reserves were examined.

Current State of Audits

• Since 1981, regular audits ceased; current inventory practices rely on trust rather than detailed checks by independent auditors.

Gold Audits and Market Dynamics: What's Really Happening?

The Historical Context of Fort Knox Visits

• In 2017, Treasury Secretary Steven Mnuchin made a notable visit to Fort Knox, marking the first time a sitting treasury secretary had visited since 1948.

• Despite Mnuchin's assurance that "the gold is there," this visit did not constitute an official audit, raising ongoing concerns about transparency.

Current Gold Movements and Market Strategies

• Recent discussions around gold have intensified due to trade wars and reports of banks transporting over 8,000 gold bars from London to the U.S.

• JP Morgan and HSBC are moving gold to capitalize on price differences; currently, gold is approximately $20 per ounce more expensive in New York than in London.

Understanding Arbitrage in Gold Trading

• As market makers, JP Morgan and HSBC facilitate global gold transactions while engaging in gold leasing for profit through interest on loans.

• To hedge risks associated with leasing, these banks sell gold futures contracts but face losses when geopolitical tensions cause price fluctuations.

The Implications of Geopolitical Tensions

• Rising geopolitical uncertainty has led to increased prices for gold in New York compared to London, prompting banks to move physical gold to cover short positions without incurring significant losses.

• This strategy allows them to settle futures contracts at higher prices while potentially profiting from the difference.

Calls for Transparency Regarding U.S. Gold Reserves

• Elon Musk has suggested live streaming audits of Fort Knox as a way to increase transparency regarding U.S. gold reserves.

• There exists skepticism about government claims concerning the status of U.S. gold reserves; many believe officials may have incentives not to disclose the full truth.

The Need for Public Audits

• A public bar audit could alleviate suspicions surrounding U.S. gold reserves; however, the government has opted for limited verification by insiders instead.

• The lack of concrete evidence regarding the presence or absence of U.S. gold raises concerns about potential financial crises if it were found missing.

Conclusion: Demand for Clarity on Gold Reserves