Do you really believe that fort knox still holds 4,570 tons of gold bullion?

How do you think Uncle Sam can pay for war after war costing hundreds of millions of dollars each week? I bet that my piggy bank has more gold than fort knox. jeeper peeper: you cannot get best answer here. You have just posted a meaningless rant and not even bothered to look into the subject or even tried to answer my question: Shame.

Public Comments

1. Easily ....
2. The official figure is 4571 tonnes... I put my 1 ton in yesterday !
3. And you base this on what evidence?
4. that amount is just the stack in the corner //the amount in fort Knox is staggering and if you think your going to be told just how much dont hold your breath
5. Well considering that 4,570 tonness of Gold is just worth 80 billion dollars. I sure hope there is more gold than that. So with that amount of gold be worth so little, it kind of blows your theory away. so you can do the math, i'll help. 4750 tonnes = 10.05 million pound 10.05 million pound = 120.6 million ounces. 120.6 million X $670 = 80 billion
6. I would think so. I saw a documentary about fort knox on the history, discovery, or military channel, and they don't even let people into the lobby. They had one picture of it shortly after construction and thats it. So if it isn't gold its something really important considering how much exposure they allow for some of the latest and most advanced militar gear we have.
7. I'll be willing to take that bet.
8. The treasury department says that Fort Knox presently contains 147.3 million ounces of gold. And that, indeed, would be about 4,603 short tons (2000 pounds per ton) of the stuff -your number is close enough. And gold bullion is currently selling for about $670.00 an ounce, so the Ft. Knox stockpile is worth roughly 99 billion bucks right now. Dollar costs of the Iraqi conflict are estimated to be perhaps $2 trillion when all is said and done, so the Ft. Knox reserve would pay about half. Fortunately for us, that's not how it works, because most of the people who get paid are US citizens: the folks who shoot the guns, the folks who make the guns, the folks whose production of whatever nature gets used up in Iraq. And so, the money is owed, in great part, to US. Where does Uncle Sam get that money? Some from taxes, and the rest is borrowed, from us and wealthy overseas people who think American debt is a safe bet. So let us say that the war is being financed in somewhat the same way you and I would finance a large addition to our home that had really BAD cost over-runs. We would pay it off over time. Furthermore, no one shows up with a bill when it is all over, we pay as we go. And meanwhile, the government is making enough in taxes and borrowing enough so that it doesn't need to raid Ft. Knox. Yet, anyway. Just like my income pays the cost of the addition on a monthly basis. I use some of my income, I borrow some, and I have my savings account in reserve. Is the gold REALLY in Ft. Knox? Probably. Because no one other than the employees is allowed in or out of the place, it would be difficult to mask a large withdrawal -and it would be large, all right: that stuff's heavy! The Fort itself sits on the main drag of town, next to the Ft. Knox army base, home of the Patton Tank Museum. There are a lot of people passing by -if a lot of heavy trucks were to pull into traffic it would get attention. There's also the practical problem of what one would do with the gold -how do you actually, physically pay anyone with it? So it seems probable that the gold is still there. Also, if the gold WERE released, we'd probably see a percipitous drop in the value of it because the market would be flooded with the stuff. So I'm betting that there really IS gold in Ft. Knox. And this doesn't even consider the other gold locations: West Point and Denver, for example. Better check your piggy bank again -or, better yet- send it to me and I'll let you know what's in there.
9. I wouldnt know. If I was a government I would put my money in a safe and secure and secret place. Fort knox, in my opinion is just a tourist attraction. The Bank of England holds most of the British Gold but its not open to the public. Plus, gold is far more valuable these days when its used in electrical componants. And money these days is almost always electronic numbers. Money is just a physical representation of those numbers. There is also loads of other metals far more valuable, pound for pound, then gold. Take Uranium. For enriched uranium I bet a terrorist would pay at least £10000 per kg. The wealth of a country is no longer based on their gold reserves. Its based on oil, stock markets, other natural resources etc.
10. Its probably 'fools gold'
11. There is no gold in Fort Knox.