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Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold.
Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it's "a possibility" that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank.
The libertarian lawmaker told Kitco News, a website tracking news about precious metals, that an audit was necessary to determine how much the U.S. maintains in gold reserves in case the government were to use gold to back the dollar.
“If there was no question about the gold being there, you think they would be anxious to prove gold is there,” he said.
“Our Federal Reserve admits to nothing, and they should prove all the gold is there. There is a reason to be suspicious and even if you are not suspicious why wouldn’t you have an audit?
Originally posted by Misoir
We should audit the gold reserves I never even thought of that before. What else should we audit? I mean there must be a lot of different things that need to be audited, any ideas?
Originally posted by Misoir
macedoniaonline.eu...
Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold.
Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it's "a possibility" that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank.
The libertarian lawmaker told Kitco News, a website tracking news about precious metals, that an audit was necessary to determine how much the U.S. maintains in gold reserves in case the government were to use gold to back the dollar.
“If there was no question about the gold being there, you think they would be anxious to prove gold is there,” he said.
“Our Federal Reserve admits to nothing, and they should prove all the gold is there. There is a reason to be suspicious and even if you are not suspicious why wouldn’t you have an audit?
We should audit the gold reserves I never even thought of that before. What else should we audit? I mean there must be a lot of different things that need to be audited, any ideas?
I already know we should Audit the Fed.
Originally posted by Blackmarketeer
You'd think this would be done on a regular basis just for internal auditing purposes, big companies always conduct internal audits just to see where they stand financially.
Originally posted by Misoir
reply to post by Esoteric Teacher
Screw the IRS!
KPMG is simply conducting paper audits, while disclaiming any responsibility for potential deficiencies, significant deficiencies, or material weaknesses in the US Mint's own internal controls.
Originally posted by Blackmarketeer
In other words, covering their a$$.
The objective of our audit was not to express an opinion on the effectiveness of the US Mint's internal control over financial reporting. Accordingly we do not express an opinion on the US Mint's internal control over financial reporting.
Our consideration of internal control over financial reporting was for the limited purpose described in the preceding paragraph and was not designed to identify all deficiencies in the internal controls over financial reporting that might be deficiencies, significant deficiencies, or material weaknesses. - KPMG LLP
Status Report of U.S. Treasury-Owned Gold
August 31, 2010
Mint-Held Gold - Deep Storage
Denver, CO - 43,853,707.279 (0z)
Fort Knox, KY 147,341,858.382 (0z)
West Point, NY - 54,067,331.379 (0z)
Subtotal - Deep Storage Gold - 245,262,897.040 (0z)
*
Total - Federal Reserve Bank-Held Gold - 13,452,783.620 (0z).
Total - Treasury-Owned Gold - 261,498,899.316 (0z)
Full Report
Originally posted by bluestar.ranch
Originally posted by Misoir
macedoniaonline.eu...
Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold.
Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it's "a possibility" that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank.
The libertarian lawmaker told Kitco News, a website tracking news about precious metals, that an audit was necessary to determine how much the U.S. maintains in gold reserves in case the government were to use gold to back the dollar.
“If there was no question about the gold being there, you think they would be anxious to prove gold is there,” he said.
“Our Federal Reserve admits to nothing, and they should prove all the gold is there. There is a reason to be suspicious and even if you are not suspicious why wouldn’t you have an audit?
We should audit the gold reserves I never even thought of that before. What else should we audit? I mean there must be a lot of different things that need to be audited, any ideas?
I already know we should Audit the Fed.
This is too easy... all the gold has been moved to underground bunkers. (prophesy? or one who knows?) no more on this....but the gold is not there and TPTB know it. so do I....