Treasury - Audit of Gold in Fort Knox Would Cost $15 Million

[tsai3904]

http://www.cnbc.com/id/43391588

[specsaregood]

Peanuts. Hell our defence department has just simply "lost" more than 300x that amount just in Iraq alone.

[BucksforPaul]

Gtfo, I'll do it for free by taking vacation from work, spending my own money for travel expenses and lodging. It would not cost the tax payer a single dime. I'll even youtube the whole process.

[sailingaway]

We need 1. confirmation of whether ANY one else owns title to any part of what is there

2. Dimensions of the gold stacks and mathematical calculation of number

3. Weight and purity of each representative unit

the rest is mathematics good enough for government work.

We aren't needing it to the penny.

[roho76]

For one that number is highly suspect, and two, even if it did cost $15 Million who cares, they blow that on lunch. I love it when these jackasses argue about "Millions" when the HDIC spends Trillions like it's nothing.

[Chester Copperpot]

Yeah suddenly congress will be staunch anti-spending hawks when it comes to a piddly $15 million for a gold audit. But its okay to piss away trillions on shit

[oyarde]

Gtfo, I'll do it for free by taking vacation from work, spending my own money for travel expenses and lodging. It would not cost the tax payer a single dime. I'll even youtube the whole process.

You are too generous . I will do it for my medicare and social security money back.

[Chester Copperpot]

For one that number is highly suspect, and two, even if it did cost $15 Million who cares, they blow that on lunch. I love it when these jackasses argue about "Millions" when the HDIC spends Trillions like it's nothing.

+1

[Bern]

I would gladly pay you $15M today for an audit of supposedly ~$400B reserves. Just take it out of the military budget.

[ClayTrainor]

How could it possibly cost that much to open a vault door and weigh some metal?

[oyarde]

I would gladly pay you $15M today for an audit of supposedly ~$400B reserves. Just take it out of the military budget.

I would prefer it come out of Dept of Education.

[freshjiva]

How about a "Audit Gold at Fort Knox" moneybomb to raise the $15M :D

Also, because it's not a FEC-regulated donation, the big boys like Jim Rogers could pitch in a lot more than $2500.

The Liberty movement could easily make this happen. We have the fundraising power to do it.

[Cowlesy]

Steve Liesman is such a hack. What a crappy piece to make Ron Paul sound like a total nut.

[specsaregood]

How could it possibly cost that much to open a vault door and weigh some metal?

I think there might just be a little more to it than that. :)

[Zippyjuan]

How could it possibly cost that much to open a vault door and weigh some metal?

Acording to Wiki, "some metal" is 368,000 bars and they are not all the same fineness- some are .900 and some are .999 plus gold coins- a total of 4,578 tonnes (metric tons) or 5,046 tons- 2.5% of all the gold ever refined in the world. http://en.wikipedia.org/wiki/United_States_Bullion_Depository Each bar would have to be individually weighed and selected bars assayed for content. That is just Fort Knox. The New York Federal Reserve Bank also has 7,000 metric tons (7,716 tons) but some of that is gold held for other countries (when gold was sold it was usually moved from one room to another in the vaults and a tag attached to it indicating who owned it).

[ClayTrainor]

Acording to Wiki, "some metal" is 368,000 bars and they are not all the same fineness- some are .900 and some are .999 plus gold coins- a total of 4,578 tonnes (metric tons) or 5,046 tons- 2.5% of all the gold ever refined in the world. http://en.wikipedia.org/wiki/United_States_Bullion_Depository Each bar would have to be individually weighed and selected bars assayed for content. That is just Fort Knox. The New York Federal Reserve Bank also has 7,000 metric tons (7,716 tons) but some of that is gold held for other countries (when gold was sold it was usually moved from one room to another in the vaults and a tag attached to it indicating who owned it).

Interesting, thanks!

[jct74]

Here's the corresponding video segment that aired on CNBC, narrated by Liesman:
http://video.cnbc.com/gallery/?video=3000027447

[iGGz]

IF there's gold?

[headhawg7]

IF there's gold?

The real question is who owns the gold and what the % of that is.

[AceNZ]

I love how they try to characterize the audit in conspiracy terms (complete with the obligatory laugh), while ignoring evidence provided by groups like GATA that show huge amounts of US gold being leased to bullion banks and used for gold swaps.

Remember this:

http://www.gata.org/node/wallstreetjournal

[Warrior_of_Freedom]

How could it possibly cost that much to open a vault door and weigh some metal?

They get paid a million an hour.

[nobody's_hero]

Our country is so broke, that it costs too much money to count our money. :D

Seriously, all they have to do is count maybe 3 or 4 gold bars and some cobwebs. There's nothing in Fort Knox.

[FreedomProsperityPeace]

Stop illegally dropping bombs on Libya, and that should cover it in 1-2 days.

[oyarde]

Stop illegally dropping bombs on Libya, and that should cover it in 1-2 days.

Much less . Probably over a billion now.