Len Hart

Ft. Knox

That there is gold in Ft. Knox may be a popular myth. Then again it could be just another bald-faced lie, a hoax, a callous, criminal fraud like 'supply side, trickle-down' bailout economics! I say: NO bailout for the banks, NO bailout for the fat cats who created this mess, NO bailout that lets the GOP off the hook! Screw the banks and to hell with Wall St!

What we need is a bailout for the people!

Gold was said to be moved --literally --from an 'asset' side to the 'debit' side of the building. The US has been running a balance of trade deficit for years. One wonders if there is any gold at all left to be liquidated.

Yet, today evidence is starting to accumulate that even though the gold in Fort Knox is all physically present and accounted for, the problem is that it may no longer belong to the United States. And it all comes as a consequence of the Treasury's declared 30-Year War on Gold (which began in earnest when the gold window, allowing the redemption of dollars in gold, was closed in 1971). Since the 1960's, the Treasury and the Federal Reserve Board have employ a range of strategies to try to minimize the role and importance of gold:PERSUASION.

The Treasury, in an effort to defend the dollar, has long "talked down" the role of gold in modern monetary systems. This disparaging of gold as a 'barbaric relic' is a longstanding and perfectly defensible behavior on the part of the US Treasury. COERCION- Facilitating and encouraging sales and lending of gold by other countries, gold-holders, and mines in order to maintain an atmosphere of "oversupply" of the metal goes one step further.

--Whose Gold is it at Fort Knox?

Ancient Rome, likewise, ran out of 'gold', one of a handful of 'metals' that are said to have intrinsic value. At the time, Roman 'sesterces' were only good enough to get you into the bath houses or 'free' gladiatorial contests in the Coliseum. Rome invaded Dacia because Rome was desperate for Dacia's gold.The US fabricated a pretext to attack Afghanistan for its natural gas reserves (among the largest in the world) and Iraq for its oil.

'Every situation is different', alright! Rich folks get their asses kissed! Poor folk get their assed KICKED! Righ tout of their homes!

--Brother! Can You Spare a Dime, A James Pence Video

I have a scam!

It involves building a cheap but impregnable cinder block building in my back yard and, upon completion, I announce to the world that I have several million gold bars (or more) warehoused in it. How far do you think I would get if I went to my local Maserati dealer and offered him/her the following proposition: "you let me drive that beautiful, shiny red Maserati sport model off your lot and whenever my payment comes due, I will move 'X' amount of bullion from one end of my cinder block building to another and put your name on it?" If he goes for it, I might offer a similar deal to my realtor/developer: "if you let me move into that $15 million estate I will move some bars from one end of my cinder block and put your name on it!"

I'm on a roll!

And somewhere along the way, I've accepted 'depositors' eager to get in on it. Some enterprise folk have actually propositioned me: you move a bar and put my name on it and I will give you the use of cold hard cash in the meantime. Cool!

I might be emboldened to approach the 'operators' who hold the mortgages on the TCB Tower in downtown Houston. I offer to take ownership of that 'paper' and, in return, I will move an agreed upon number of gold bars from one end of my cinder block building to the other and put the tag, TCB, on it! I might repeat this 'procedure' in downtown LA, Century City, Chicago, Manhattan! I like the more stately buildings like Empire State or Chrysler.

Peanuts!

I have bigger things in mind. What if I can scam ..uh...deal with those folk who hold the national debt of the US? Russia? China? India? Great Britain? After all, my cinder block building is very, very big!

Catastrophe!

My neighbors get suspicious. One of them jumps over the fence and bores a hole through my cinder block building. What the fock!! He reveals to the whole world that there is nothing in my cinder block bunker but cheap clay bricks that I have spray painted gold!

The whole house of cards collapses and the world is plunged into another 'great' depression!

Now this is all just a 'parable' --the parable of the cinder block scam! There are several lessons in every parable, even stupid ones. It is not 'gold' that backs up currency; it is confidence. Gold itself has value only as long as people want or need it. Both gold and silver have practical value as they are used in electronics applications. But what if they were not? What if the use of gold and silver for decorative or esthetic purposes was no longer fashionable? What if there was absolutely nothing that could be depended upon to back up paper currency? Ultimately, the only thing that really backs up currency of any type --even cinder block scrip --is simply: confidence. When people no longer have confidence in either the currency or the system, it collapses.

Bottom line

People the world over have not just now discovered that there is not enough gold to back up US currency and/or obligations. It was Nixon who revealed the fact that the US didn't have enough money in Ft. Knox to cover its obligations. Some creditor nations had wanted to be paid in gold and we refused. If there is any gold in Ft Know it will not prevent the collapse that is already well underway.

The amount of gold in Ft. Knox is estimated to be about $250 billion --a drop in the bucket. While even the Fed will concede that gold is 'true money' it is so only because people are willing to accept it. Goldfinger's plan to collapse the world economy would have failed. It would not have created the panic that is underway today. Rather, to world wide financial collapse is due not to the loss of gold but the complete loss of confidence in the capitalist/imperialist system.

Brother, Can You Spare a Dime?

The US has Plundered the World's Wealth

Next episode: Why Karl Marx was right and telling the truth; George Bush is a lying sack of shit!

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By: Len Hart 'I Have a Scam': the Real Cause of Impending, Utter Financial Collapse, via The Existentialist Cowboy