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Posts Tagged ‘Fort Knox’

A 250kg gold bar in the Toi gold mine

On the January 29, 2011 episode of The Secret Truth, The International Forecaster, Bob Chapman, said at 28:02:

All these people wanna avoid using gold and silver [for backing the currency]. The excuse is, that, the elitists own 20, 25, 30 percent of all the gold in the world, and my answer is, “so what?”

The so what is that the interests that control over 20 percent of the world’s gold supply would be wealthy simply based on the gold they currently possess, regardless of how lawfully they obtained it.

The Fifth Amendment to the U.S. Constitution requires “just compensation” for the taking of private property for public use.

This would effectively result in a public transfer of gold, held in places like Fort Knox, from the U.S. government to the banks, which would likely demand payment in gold for their gold, instead of paper or computer receipts.

Clearly, such an option wouldn’t be feasible, since it would cost the U.S. government more gold than they’d get back, and as a result, the more than 20 percent of the world’s gold supply would continue to stay where it is.

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