Where Is The Treasury's Gold? Group Demands Audit of Government Gold
Posted by Brianna Panzica on the Wealth Wire
Gold conspiracy theorists don’t trust the government…
Of course, that’s nothing new. By nature, groups like the Gold Anti-Trust Action Committee(GATA), a group formed to expose control over the price of gold, are suspicious of collusion linked to the government.
But now they’re taking this suspicion into action with a petition to audit the nation’s gold reserves. According to the petition, the last full audit of bullion owned by the U.S. Treasury occurred in 1953: 60 years ago.
The Treasury last claimed to have 261 million ounces in its possession on December 31, 2012. But the time lapse between that and the last time the store was officially checked is significant.
From Mineweb:
“The gold bars need to be assayed and weighed,” the petition advocates. “Once the gold is verified the paper trail must be audited to determine who really owns the gold; i.e. how much has been loaned to bankers and dealers and sold or swapped to non-Treasury entities including foreign governments.”
“The audit must include professional auditors outside of the Mint, Treasury, GAO, Inspector General and the Federal Reserve System,” the petition concludes.
The petition landed a spot on the White House website on Wednesday, January 9. By Monday morning, it had garnered 3,834 signatures.
If it reaches 25,000 by February 8, the White House has to respond. Policy experts will be required to review the request, and a public statement will be made.
Chris Powell, Secretary and Treasurer of GATA, thinks the request is likely a long shot. He wrote in an article published on GoldSeek:
Of course the U.S. government may be less likely to tell the truth about its gold than to declare signers of the petition to be terrorists and to send rocket-firing drone aircraft after them or have them hauled off to the military prison at Guantanamo Bay, Cuba, outside the jurisdiction of the federal courts and beyond any claim of habeas corpus. But it’s a risk we have to take and if enough people sign and the petition has to be answered, clamor about the gold issue will increase.
If you’re interested in signing the petition or in reading the full petition text, you can check it out here.
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Whistler Blowers, Insiders
Frankly I’d like to see the U.S. Treasury not have any gold at all. That would help to suppress this magical thinking about a shiny yellow metal which we don’t need for a functioning economy. Our ancestors couldn’t break the grip of chronic poverty and the threat of starvation, like in “Les Miserables,” until we abandoned this gold-standard nonsense and adopted the flexibility of a fiat money system which greatly increased our freedom to produce and trade.
Friend, your statement is so full of bull butter I’m amazed anyone could actually say such. The owner of such idiocy is sure to be chock full of equally inane rhetoric on all sorts of topics.
Perhaps you should write it all down; be a sure seller.
You are absolutly right, but you are wrong as hell.