Now this could get interesting
The go-to place for metal information (gold, silver, etc...) is
Kitco.
Do not bother with any of the places advertised on the radio -- Kitco is the Mother Ship.
Anyway, they post news about precious metals and Ron Paul is
calling for something very interesting:
Ron Paul Calls for Audit of US Gold Reserves : Kitco News Exclusive
U.S. Rep. Ron Paul , R-Tex., plans to introduce a new bill next year that will allow for an audit of US gold reserves, he told Kitco News in an exclusive interview.
Paul dropped the news in the interview, indicating that the bill still does not have an official name yet but will be unveiled at the start of the new U.S. Congress.
�If there was no question about the gold being there, you think they would be anxious to prove gold is there,� he said of the Federal Reserve.
This is not the first time the congressman has made his pitch. �In the early 1980s when I was on the gold commission, I asked them to recommend to the Congress that they audit the gold reserves � we had 17 members of the commission and 15 voted not to the audit,� said Paul. �I think there was only one decent audit done 50 years ago,� he said.
Though Paul did not say whether there is any truth to claims that there is no gold in Fort Knox or the New York Federal Reserve, he said, �I think it is a possibility.�
�If we ever get around to deciding we should use gold in relationship to our currency we ought to know how much is there,� said Paul. �Our Federal Reserve admits to nothing and they should prove all the gold is there. There is a reason to be suspicious and even if you are not suspicious why wouldn�t you have an audit?� he said.
The gold audit follows his crusade last year looking to audit the Federal Reserve, which he says is the chief culprit behind the economic crisis.
This would be interesting to see -- we have zero assurances that the Gold is there and we are in a period where there is a lot of speculation on Gold so its price is at record highs. Odd in that
Silver is only showing modest gains and
Platinum is showing a gradual increase but very spikey numbers.
Reminds me a bit of the
Hunt Brothers Silver Bubble...
Posted by DaveH at August 30, 2010 8:36 PM