Replies to post #8115 on Americas Silver Corp fka USAPF

[permabear]

The conservative Heritage Foundation is throwing out the idea of selling U.S. reserves of gold to pay off debt.

http://www.newsmax.com/US/gold-Heritage-fortknox-debt/2011/05/16/id/396540

As the article above shows, at current $1500 price, selling U.S. reserves would raise all of $370 billion. This wouldn't even make a dent in the national debt of over $14 trillion. It would barely scratch the surface of the current budget deficit of $1.5 trillion.

In short, it is a lunatic idea and I'm glad to see some sense is coming out of the White House rejecting the idea.

If in fact they did decide to sell the gold, we would see a crash in the gold price worse than 2008. Investors in gold would get crushed. But I don't think it's happening any time soon.

I can see a scenario down the road, when the U.S. might get backed into a corner and be forced to sell its gold. If the bond market and dollar suddenly collapsed and China threatened to sell off it's treasury bonds. If the U.S. was facing total collapse, that would be the time the U.S. might be forced to sell its gold. This is not an impossible scenario by any means. But if it happens, I think gold will be trading north of $5000 an ounce.

[NYBob]

Fake gold bars! What's next?

http://viewzone2.com/fakegoldx.html

The monopoly press ignores what was shown in the 1970s,
namely there is no actual world bullion grade gold
at Fort Knox. The bulk of the gold depository was ...

Fort Knox gold does not exist -

IS THERE GOLD IN FORT KNOX? Maloney & Morgan In Las Vegas Part 5

Bob Chapman, Gold, Dollar, Fake Coins, Fake Gold, Fort Knox

The Fed’s Plan: Steal the Value of Your Money and Give it to Banks

http://wakeupfromyourslumber.com/node/9677

Silver to Surge to $450/oz and Gold to $12,000/oz – Cazenove's Robin Griffiths

http://m.ibtimes.com/gold-silver-platinum-palladium-rhodium-precious-metals-145282.html

http://www.goldcore.com/homepageVideo.php

One for the Books - There's No Gold in Fort Knox

[Silvertardette]

There is a real disconnect between what is being presented to the public and what is really happening in the world. Hope for the best and prepare for the worst, because we will surely get there at the rate we're going! Most of us who are heavily invested into PMs have lost faith in the general marketplace. The recent moves have shaken many of us up as well but we understand the fundamentals are there.

Congress has not audited Fort Knox since the 50s so it's doubtful that anything is there anyhow, or that what's there hasn't been promised/given away already. It would be just a drop in the bucket anyhow. I take it you have physical gold/silver as well, to complement your paper holdings. And don't forget lead :)