Mint Tells CNBC: Fort Knox Is a Closed Facility
by Robert Wenzel: Standard
Chartered: Limited New Production Will Result in $5,000 Per Ounce Gold
there any gold in Fort Knox?
is reporting that
Congressman Ron Paul is calling before his House Subcommitte on
Monetary Policy representatives from the U.S. Treasury Department
and the U.S. Mint to testify at a subcommittee hearing on June 23
about the authenticity of the nation's gold that is supposed to
be held at Fort Knox.
This is great
news. But get a load of this. Liesman, as part of his story, requested
permission to film at Fort Knox, he reports the response:
As a postscript
to the story, CNBC asked for a tour of Fort Knox to film the gold...
An official at the Mint told us that not he was not aware that any
member of Congress had toured the facility since ....Fort
Knox is "a closed facility," the official said.
What the hell
does that mean? Bottom line: CNBC was not allowed a to tour or to
film at the facility.
Ron Paul wants
a full audit of the gold supposedly at Fort Knox. According to a
Treasury document, Liesman reports, it would cost only about $15
million to conduct an audit. The process would take about 30 minutes
to verify the gold content of each bar, or 350,000 man hours; to
do that would would take 400 people working for six months, according
to the document.
with permission from Economic
Economic Policy Journal
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