Did U.S. Export Over 175 Million Ounces of Gold?

Is the government using our gold to pay off back borrowing overseas? I have no idea, but this doesn't sound good.



Source: www.numismaster.com...

So, for 2007 and 2008 combined, the U.S. exported 22 million ounces of refined gold and over 154 million ounces of "compound gold." This is more than 11 times U.S. gold mine production during those two years. In fact, this is higher than global gold mine output. Where did all this gold come from?

This amount of gold exceeds what is held by all private parties in the U.S. combined. When the U.S. government called in gold in 1933, it then melted down the coins without refining. As a result, such bars from the coin melt would have a purity of around 90 percent gold. These would not qualify for description as refined gold, but could fit the definition of compound gold.

reply to post by ExPostFacto


Sounds like we need to demand an audit of Fort Knox. I wouldn't doubt that our gold reserves have been pilferd by our esteemed government officals.

This is my favorite part of the link you provided:

t is possible that some of these gold exports could be the repatriation of foreign central bank gold that had been stored with the New York Federal Reserve. Such transfers would be classified as "exports" for purposes of this report. The other possibility is that it could be gold formerly held by the only central bank in the world that had that much gold - the United States. Wherever this gold came from, it is bad news for the U.S. government. If foreign central banks are pulling their gold reserves out of storage in the U.S., that signals lost faith in U.S. financial strength, which the U.S. government would not want the general public to learn about. If the U.S. government has actually been exporting its own gold, while still trying to pretend that the quantity in its vaults is unchanged, confirmation of such exports would clobber faith in both the U.S. government and the dollar.

Wow.. If I had gold or silver certs I'd be dumping them fast. Holding bullion offshore is the way to go.

Take this with Bernake's testimony today that the Federal Reserve can no longer manipulate the money supply...it paints a dismal outlook that we are a nation that not only has a currency that is worth nothing but the paper it's printed on, but a nation that has no more reserve commodities. If this is the case is brings a whole new meaning to the phrase written on the dollar..."In God We Trust"

reply to post by daddyroo45


Lo and behold, seems our Northern neighbors seem to be missing some Gold and need an audit too.

Canadian Mint can't account for missing Gold, Silver


They say they're not sure if it was pilfered or due to an accounting error. Either one is not good. I couldn't find a dollar or weight estimate, will look into some more.

reply to post by Kellter


WOW...and what would the solution be when we realize we have no national wealth and are all broke together? Maybe the NAU combining all assets to form a new union?

The Canadian Mint failed an audit.. their excuse was pretty funny. I don't know why or how they could though. Gold is not hard to obtain.

reply to post by Goldbugg8


Yes, Canada has the same problem, they cannot account for some of their gold and silver reserves.