Loading ...They Could Do That – If?
Not a great idea because it would only be a temporary fix until the end of this fiscal year, but. The authors make a big asumption that is likely incorrect. The US no longer has 8,000 tons of gold. They leased it out surreptitiously decades ago. They couldn’t sell and announce it publically like Canada and the UK did, because the US is the global reserve currency, but it is long gone. If not, some past administration would probably have done what the authors suggest and revalued their gold holdings. https://www.zerohedge.com/political/fixing-debt-ceiling-crisis-gold
Good Point CM…I edited …you said 8 tons…it’s said to be 8,000 Tons
But Ft Knox has never been audited since the 60s…For sure NONE is owed by the Govt any more ..if it is there at all
I checked the US treasury website and added up the various locations and converted the millions of ounces into tons. I think it is approx 8.2 tons. You may be thinking of gold held by the FED for all the different countries around the world but given that the US number of 8 tons(even if that was still valid) is higher than any other country. 8 thousand tons is way too high.