Ron Paul questions whether there's gold at Fort Knox, NY Fed

08-30-2010 • Michael O'Brien, thehill.com

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.

2 Comments in Response to Ron Paul questions whether there's gold at Fort Knox, NY Fed

Comment by Ken Valentine

Entered on: 8/30/2010 9:36:02 PM

Jukit Babalo obviously knows nothing about gold. Aside from being a store of wealth for thousands of years, gold has numerous industrial uses. Uses that other metals just cannot duplicate.

Comment by Jukit Babalu

Entered on: 8/30/2010 7:20:09 PM

Learn why gold has no real value anyway, so whether or not there`s gold in Fort Knox is immaterial.

jukit.wordpress.com

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