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'The gold is safe!': Fort Knox opens its impregnable doors to civilians for the first time since 197

Goldhedge

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#1
sure it is... wink, nudge...



'The gold is safe!': Fort Knox opens its impregnable doors to civilians for the first time since 1974... and they all swear that the $186 billion protected in its vaults is still there
  • Senate Majority Leader Mitch McConnell and other Kentucky politicians went to the United States Bullion Depository at Fort Knox for the first time since 1974
  • U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. Matt Bevin
  • The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion
  • Mnuchin said it was the first time Fort Knox opened its vaults to outsiders since a Congressional group and some journalists were let in for the first time in 1974
  • And the vault has also been a setting place for several movies, the most famous being the 1964 James Bond film, Goldfinger
By Matthew Wright For Dailymail.com

PUBLISHED: 17:22 EDT, 21 August 2017 | UPDATED: 22:53 EDT, 21 August 2017


Inside the famed vaults at Fort Knox, Senate Majority Leader Mitch McConnell held a 27-pound gold bar in his hands Monday as part of the first civilian delegation to see most of the country's bullion reserves in more than 40 years.

McConnell was part of a delegation of Kentucky politicians allowed inside the United States Bullion Depository at Fort Knox for the first time since 1974.

U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. Matt Bevin.

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Senate Majority Leader Mitch McConnell and other Kentucky politicians went to the United States Bullion Depository at Fort Knox for the first time since 1974




The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion

And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians

'It's not even the annual funding level for some of our large departments in the federal government,' he said.

The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion.



Last time: This picture dates from 1974 - the last time civilians were allowed inside - and shows Mrs. Mary Brooks, Director of the Mint surrounded by gold in one of Fort Knox's vaults





While primarily known as a vault for gold, the depository also held the Declaration of Independence and the U.S. Constitution during World War II







And the vault has also been a setting place for several movies, the most famous being the 1964 James Bond film, Goldfinger when the titular character foiled a plot to contaminate the bullion

Built in 1936, security access for the facility make it difficult to get access.

While primarily known as a vault for gold, the depository also held the Declaration of Independence and the U.S. Constitution during World War II.

And the vault has also been a setting place for several movies, the most famous being the 1964 James Bond film, Goldfinger when the titular character foiled a plot to contaminate the bullion.

Mnuchin said it was the first time Fort Knox opened its vaults to outsiders since a Congressional delegation and some journalists were let in to view the gold for the first time in 1974.

McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him.

'It just kind of came up as a result of a casual conversation,' McConnell said.

A movie producer before becoming treasury secretary, Mnuchin told a group of Louisville business leaders earlier in the day it was important for him to see the gold to attest that 'it is part of our national assets.'

'I assume the gold is still there,' he said. 'It would really be quite a movie if we walked in and there was no gold.'

In an interview, McConnell said he could not say much about the visit for security reasons. But Bevin, speaking on WHAS radio, divulged a few more details.

He said it took 'quite a bit of time' to get in and out of the facility, and said officials had to cut a seal to open the vault for them.





Mnuchin said it was the first time Fort Knox opened its vaults to outsiders since a Congressional delegation and some journalists were let in to view the gold for the first time in 1974

In addition to the gold bricks, Bevin said he got to hold a 1933 double eagle, a $20 gold coin that was never circulated.

Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn.'

'All I will say is that it is freakishly well secured,' he said. 'The gold is safe.'



Read more: http://www.dailymail.co.uk/news/art...Knox-opens-vault-civilians.html#ixzz4qRx56e3s
 

oldgaranddad

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Anybody drill a random bar to see if it had an osmium core?

I didn't figure so.

Then this was a publicity stunt.
 

smooth

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#3
Story is bullshit. No way Mitch can lift 27 LBS. with one arm.............. there you have it
 

oldgaranddad

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Story is bullshit. No way Mitch can lift 27 LBS. with one arm.............. there you have it
Good catch. I didn't think of that.
 

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#6


Now ask yourself this question... "Would 24kt gold bars on the bottom stand up to the pressure of all that gold above it?"
 

Uglytruth

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#8
The gold is there.... really..... really it is........ believe me......

 

917601

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image.jpeg
Who knows about Ft Knox?.... what I do know, two- three of these LD3 containers full of gold have been passing through from South America to SLC everyday for at least four years. You can try to figure out how much it has been, I just know it has to exceed what is in Ft Knox by now, you know how prepared them Mormons can be....and on that note, much of the armor and armor school was pulled From Ft Knox years ago, and what now remains is a shell of what once was.
 
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Professur

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#10


Now ask yourself this question... "Would 24kt gold bars on the bottom stand up to the pressure of all that gold above it?"
That was my first thought too. And pretty stupid stacking it on the floor.
 

Mujahideen

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#11
Are you implying that gold is soft and heavy?

The Rothschilds have our gold.
 

anywoundedduck

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#12
But I thought that most gold bullion of the United States burned up in WTC 7? Burned up from the jet fuel from WTC 1 & 2 by osmosis.
Or was that Germany's gold?
 

Joe King

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#13
Now ask yourself this question... "Would 24kt gold bars on the bottom stand up to the pressure of all that gold above it?"
The way it's stacked, there would be approx 780 pounds on each bar on the bottom layer. Is that enough to deform it if they stacked tightly together side to side?
...and 780 pounds is about the weight of 4 people. Maybe I'm wrong, but I'm kinda thinkin' that a bar of Au could in fact support the weight of 4 people without being squashed.


Also, could that possibly be "coin gold" that contains a portion of copper? Many coins were melted down by the gov in '33. Is that the gold we see in that pic?


First thing I thought when I saw that pic was, that's kind of a big purse to be taking into the gold vault. I hope they checked it before she left. Looks like she could fit half the gold in there. lol
 

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#14
Anybody drill a random bar to see if it had an osmium core?

I didn't figure so.

Then this was a publicity stunt.
No random core samples?

No.

Was Ron Paul one of the visitors?

No.

Me no believe.
 

917601

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#16
Are you implying that gold is soft and heavy?

The Rothschilds have our gold.
From what I have seen being shipped to SLC, someone there ( state of Utah, Mormons?) has a huge, huge, huge ever growing stash OR maybe is repackaging ( re pouring) it? The contract agents do not even know what form the shrink wrapped LD3's contain ( yes, entirely wrapped in green plastic, seals, under seals and more seals), Comex sized bars?....Kilo bars? Nugget sized shot?....back in 2010,11,12 the gold was coming from San Juan, yes, San Juan- you can pull up some of my posts back then ( Sinclair told me Puerto Rico was the clearing house for all SA gold) but they were Comex size bars packaged in wooden crates....I always "hung around" to watch the guards transfer it to the armored car and presumably further transfer it to domestic destinations. I can say, since about 2010 or so, I have seen literally hundreds of tons enter , no " shortages" of gold from my perspective....but simply impossible to determine the " final US destinations". Just because an LD3 full enters internationally ( I will not mention the SA country of origin) and is transferred to SLC, it could still be trucked to even another destination ( but unlikely in my opinion- every transfer is a huge security headache).
 
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oldgaranddad

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It could be gold heading to the Sunshine Mint. While most people know they have facilities in Idaho but they do have a Las Vegas, NV office and I have heard but I cannot confirm that they have (or had) some sort of facility off of I-80 near Elko or Wells. If the gold was going to Coer d'Alene they'd probably land it at Spokane, WA so that would rule out the Idaho facilities.

At one point, four years ago, when I could not find any IT jobs I applied to a well known armored car company to haul armored OTR tractor trailer loads. I have a CDL Class A with Haz-Mat, Tanker and Double/Triples endorsement along with several concealed carry licenses. In the interview they had mentioned that at some point you'd be flown out West to an airport to deliver loads since they liked to rotate crews for certain high value shipments. They could have been talking about this. I myself was thinking Salt Lake City since they were interested in my Utah concealed carry.

I do know Sunshine makes the planchets for the US Gold Eagle program and for other mints. Planchet making does not take up a big physical plant footprint either.

Sunshine might have separate facilities for different customers too. That would make sense since to prevent co-mingling of gold or if the foreign customer's assets get seized or are put in some type of legal jeopardy it does not impact the other customers. I'm also sure that Sunshine would not be advertising that they have other facilities for the obvious security reasons. In fact they may even be flagged/bannered under different names too.

Again, all of this is just supposition but the coincidences are too similar.
 

anywoundedduck

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#18
But I thought that most gold bullion of the United States burned up in WTC 7? Burned up from the jet fuel from WTC 1 & 2 by osmosis.
Or was that Germany's gold?
In other words, it's all fairy tales, and they are all a bunch of lying sons of a bitches, especially McConnell.
 

All-in

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#20
Seems a waste all that gold sitting there doing fuck all. I mean what's the point?

I mean it's not backing the currency because you can't redeem, which was the point of the gold in the first place.

That gold might as well not exist, how many years more will it sit there? For something to be useful it has to serve a purpose, that sitting there serves no purpose.

Well maybe it's a monument to those who stole it.
 

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#21
The standard gold bar held and traded internationally by central banks and bullion dealers is the Good Delivery bar with a 400 oz (troy-ounce) (12.4 kg or 438.9 ounces) nominal weight.

Assuming they are all 24kt.

There are 29 bars on the back wall.

29 X 12.4 kg = 359.6 kilograms = 792.78 lbs

Over time it should compress the bottom bar



fun facts...







 

Joe King

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#22
Assuming they are all 24kt.
Assuming it's there, do you really think it's all 24kt? I've read that some of the gold there supposedly has an orange-ish hue to it. Which is why I was wondering if it might be bars made from melted coins. Which would be much stronger.
...but yea, most other pics I've seen of bullion depositories only have it stacked a few bars high, and I've wondered the same about the Ft Knox pics as well as pics that are said to be of the Feds vault in NY. Theirs were stacked floor to ceiling too.
 

Goldhedge

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#26
Assuming it's there, do you really think it's all 24kt?
That is the $64 million dollar question...

Won't know until it's been audited...
 

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Uncle

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A standard gold bar is 7" x 3.625" x 1.75" and weighs 12.4kg. The yield stress of gold is 205MPa. The area of a standard bar is 0.0164m2, so the yield stress corresponds to a force of 3,360,000N applied over this area, and this is the weight of about 28,000 gold bars. So if you stacked up 28,000 gold bars you'd start squishing the bottom one. But this pile of bars would be over a kilometer high, so I suspect even Fort Knox doesn't have any squished bars.

I'm willing to try the experiment if someone will supply with the gold :-)

https://physics.stackexchange.com/questions/39512/stacking-gold-bars

Golden Regards
Uncle
 

^updated^

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#30
Where's the opium?

Thursday, September 16, 1993

Fort Knox Vaults Harbor Millions In Opium, Morphine -- Stockpile Held For Emergencies
By Gardiner Harris

Louisville (Ky.) Courier Journal

The glittering vaults of gold at Fort Knox and West Point, N.Y., harbor a deep secret: enough black opium and white morphine to satisfy the legal needs of the entire nation for a year.

Since 1955 the drugs have been part of the nation's strategic reserves and were intended to tide the country over if foreign opium supplies were cut off in an emergency.

With the end of the Cold War, the huge stores of narcotics no longer make much sense, Defense Department officials say.

But Congress won't let the department sell the drugs.

So officials are investing another $7 million to preserve the unneeded drug stores, making the sale of the $23 million worth of narcotics even more unlikely and difficult.

The Defense Department has had better luck selling some of the other commodities stored in the bullion depositories.

On June 11, the agency sold 932,806 carats of diamonds for $77 million. Another 500,000 carats of natural diamonds will be offered for sale Sept. 24 in large lots. The diamonds vary in size from very small to 10-carat gems.

The Defense Logistics Agency, which is charged with stockpiling strategic materials, contracts with the U.S. Mint to store the most precious in the depositories. Since Treasury officials don't offer tours of the gold vaults, the drugs have been secret for years.

Mint officials refused to discuss the drugs, referring all questions to the Defense Logistics Agency. Bob O'Brien, deputy administrator of the agency's Defense National Stockpile Center, confirmed that the drugs were stored in the vaults - next to 147 million troy ounces of gold in Fort Knox and another 60 million troy ounces of gold at West Point.

Although the stockpile of narcotics is designed to tide the country over in the event foreign opium supplies are cut off, an extended interruption is now unlikely. U.S. drug companies once bought nearly all of their opium from India and Turkey. But a new method of opium production developed in the early 1970s led Australia, Hungary, France and Yugoslavia to get into the business of exporting concentrated poppy straw. Commerce with all these widely dispersed nations would have to be interrupted before the agency's stockpile would be needed.

And if a nuclear war did stop trade, the devastation would make the drug stockpile difficult to use anyway. The opium and morphine would have to be transported out of the depositories to drug manufacturers for further processing and then distributed to hospitals - an almost impossible task in a country devastated by nuclear weapons.

Glenn Flood, a Department of Defense policy spokesman, acknowledged that the huge stores of narcotics don't make sense anymore.

But the government might be stuck with the drugs for years to come.

The agency has 68,269 pounds of opium and morphine stored at Fort Knox and West Point, an amount taht could satisfy the nation's legal needs for about a year, according to the latest figures by the United Nations International Narcotics Control Board.

Federal law precludes the agency from selling anything out of its stockpile in quantities that would hurt domestic producers, Offenbacker said. And the government has more than enough morphine to hurt domestic manufacturers of the drug if it were all dumped on the market.

The agency could have sold its opium before it was processed into morphine. The sales might have depressed the world opium market, but since there are no domestic producers of opium, no American company would have been hurt.

Instead, the agency contracted with the NORAMCO company of Delaware to convert the remaining opium into morphine sulphate. The conversion means the agency will have to hold onto the drugs for years or destroy them and lose the multimillion-dollar investment.

Officials said they don't have a choice. Without Congress' authorization to sell the drugs, the agency decided it had to convert its aging opium into morphine or the opium would have become useless, Offenbacker said.
 

Uglytruth

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#31
Interesting thought I just picked up from a Youtube video.
All the hubbub about gold...... photo op bs, debt ceiling on it's way = REVALUATION?

So some quick math.
$1300 gold price / $42 stated value = 30.95
30.95 x $1300 = $40235 reset market price?

Or how about $40235 / 70 (GS ratio) = $574 silver?

Time will tell but even 25% of that would be good.........
 

Bottom Feeder

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#33
View attachment 92916 two- three of these LD3 containers full of gold have been passing through from South America to SLC everyday for at least four years.
Wait a minute there numbers, are you sure those containers were full of gold? Somehow I don’t think so. I do kinda slow math and I do tend to make mistakes but it seems to me like if you fill one of those containers with gold you’ll have about 100 tons of gold in it (over 3,000,000 toz).

I calculated this on the outside measurement of the LD3 so it’s off by that, and I had to estimate the height at which the angle was take from the side but all in all a LD3 full of gold would be impossible to ship.

My method (in picture math for people like me):

Calculations.jpg

BF
 

Goldhedge

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#34
As for the opium supply... don't drugs go bad after a while??

At least, that's what the big pharma says... throw out those old 'expired' drugs....
 

GOLDBRIX

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#35
What No Photo Ops ?

If it is not photographically documented it Did Not Happen.

I don't believe people who lie and mislead for a living. Especially "Mitch the Corporate B!tch"
 

Goldhedge

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#36
Jim Rickards Says There is Much More Behind Mnuchin's Fort Knox Visit and Germany's Gold Saga


Daniela Cambone Thursday August 31, 2017 07:52


(Kitco News) - Between Germany getting its gold back and Treasury Secretary Steve Mnuchin’s visit to Fort Knox, lots of “weirdness” is going on in the gold space, this according to best-selling author Jim Rickards.

“Last week featured two unusual stories on gold – one strange and the other truly weird,” Rickards, the author of the New York Times bestseller Currency Wars, said on Wednesday.

The first strange gold story involves Germany. Last week, Germany's central bank completed its plan to repatriate the country's gold reserves from New York and Paris, three years ahead of schedule. Initially expected to take until 2020, the plan involved returning 374 tons of gold from Paris, and 300 tons from New York.

“But the German central bank does not actually want the gold back because there is no well-developed gold-leasing market in Frankfurt and no experience leasing gold under German law,” Rickards said in an interview with Kitco News.

Rather, the author believes that the move was done purely for political reasons.

“The driving force both in 2013 [date of announcement] and 2017 [date of completion] is that both years are election years in Germany. Angela Merkel’s position as Chancellor of Germany is up for a vote on Sept. 24, 2017. She may need a coalition to stay in power, and there’s a small nationalist party in Germany that agitates for gold repatriation,” Rickards said.

He added, “Merkel stage-managed this gold repatriation with the Deutsche Bundesbank both in 2013 and [last] week to appease that small nationalist party and keep them in the coalition. That’s why the repatriation was completed three years early. She needs the votes now.”

Last week, the Bundesbank, one of the biggest holders of gold in the world, said that it completed the move of 674 tonnes from the vaults of the Federal Reserve Bank of New York and the Banque de France.

Frankfurt now holds just over half of Germany's total 3,378 tons of gold reserves, with 36.6 percent left in New York and 12.8 percent in London. The gold was initially stored outside of Germany during the Cold War.

But the truly “weird’ story for Rickards comes from the United States.

Treasury secretary Steven Mnuchin recently tweeted that he paid a visit to Fort Knox to see the U.S. gold hoard. Mnuchin is only the third Treasury Secretary in history ever to visit Fort Knox.

“The U.S. government likes to ignore gold and not draw attention to it. Official visits to Fort Knox give gold some monetary credence that central banks would prefer it does not have,” Rickards said.

So why an impromptu visit by Mnuchin and why now?

“The answer may lie in the fact that the Treasury is running out of cash and could be broke by September 29 if Congress does not increase the debt ceiling by then. But the Treasury could get $355 billion in cash from thin air without increasing the debt simply by revaluing U.S. gold to a market price.”

U.S. gold is currently officially valued at $42.22 per ounce on the Treasury’s books versus a market price of $1,285 per ounce.

Once the Treasury revalues the gold, the Treasury can issue new “gold certificates” to the U.S. Fed and demand newly printed money in the Treasury’s account under the Gold Reserve Act of 1934, the author explained.

“Since this money comes from gold revaluation, it does not increase the national debt and no debt ceiling legislation is required. This weird gold trick was actually done by the Eisenhower administration in 1953,” Rickards said.

By Daniela Cambone
For Kitco News
 

Mujahideen

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#37
And that will buy us an hours worth of time??
 

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#38