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Friday, January 15, 2010

Fake Gold Bars in Fort Knox!

American Scofflaw

When this story first surfaced, I wondered if it was a rumor intended to discourage people from buying gold and keep them in the equities markets.

But in looking back at gold prices over the last several years, it has become apparent that a lot of gold was being dumped on the market whenever prices started to rise. In many cases the gold sales were coming from central banks and the British and US Governments. Yet we are assured that plenty of gold to collateralize loans remains in the vaults.

Now we have these multiple reports of fake gold bars, all traceable back to Fort Knox and a single US smelter, and I am forming a new theory.

The US Government and Federal Reserve, already making worthless paper into money, decided that the bullion in Fort Knox and the Fed vaults did not have to be real gold as long as people believed it was real. So as the economy tightened and investors started to abandon the stock market (favored hunting preserve of Goldman Sachs) for precious metals, the Fed/US Government decided they could have their gold and sell it too!

So a huge amount of fake gold bars were crafted to continue to be used as "gaming tokens" for international transactions. Meanwhile the real gold could be dumped into the market to keep gold prices down and investors in the stock market (favored hunting preserve of Goldman Sachs). As long as nobody questioned the real worth of the bars, just as they never question the real worth of Federal Reserve Notes, the system works after a fashion.

But now the jig is up.

And we have a really good reason the Federal Reserve is working so hard to avoid an audit.

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