I believe it was around 1975, we had to use most of ours bullion to pay off a trade imbalance with France. I'm not sure what they did.with it though.

China has been buying a great deal of gold with their trade surplus and India has alway s has ample, but is increasingly buying more and more.

I know that they say Fort Knox is empty. Our Federal reserve has some...but it's not ours.

No, the Knox claim is not a hoax. Presidents are denied entry to Knox including Clinton, both Bushes and Obama. the last time anyone on the outside was granted access was in the 70's when a few reporters were given limited access and there was some gold there then. Not many people know how much gold is in the vaults (or who it belongs to) at Fort Knox but I cant imagine it being empty. When the President of the United States makes a formal request and gets denied access something is definitely wrong.

The Fort Knox claim is just another hoax.

Gold or silver...who cares?

I would rather put my hard earned money into providing a good life for me and my woman.

If someone else is wealthy enough to gamble away their family's future....good for them.

I have never been that wealthy.

I'm not talking about gambling with paper stocks. Yes the stock market is the rich man's casino and they manipulate stocks all the time to rip off the little guy who gambles on paper.

I am talking about the real gold, which will never loose its value. Physical gold and silver are the only real currency.

Inflation demonstrates that your hard earned money (dollars) is simply loosing its value.

The price of gold is not going up, it is the value of the paper dollar that is fluctuating. During the depression, if you had physical silver or gold, you were in very good shape.

If hyper inflation hits this country, all your hard earned dollars might buy you a loaf of bread.

I don't think hyper inflation will hit us, but it could. It has happened in other countries.

There are some paper currencies that are only worth the paper they are printed on.

The other day, I purchased $75.00 worth of products for two ounces of silver. Of course the government would consider that a "trade" because they do not want anyone thinking that gold and silver is currency.

except,during the Depression FDR forced everyone to sell their Gold to the Federal Government for $20.-/oz,then set the Price to $35.-/oz!



http://en.wikipedia.org/wiki/Executive_Order_6102

Executive Order 6102 is an Executive Order signed on April 5, 1933, by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States". The order criminalized the possession of monetary gold by any individual, partnership, association or corporation.

Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve, in exchange for $20.67 (equivalent to $366.59 today[3]) per troy ounce. Under the Trading With the Enemy Act of 1917, as amended by the recently passed Emergency Banking Act of March 9, 1933, violation of the order was punishable by fine up to $10,000 (equivalent to $177 thousand today[3]) or up to ten years in prison, or both.

Then I guess it was better if you had silver during the depression.

But any order to turn over your gold has no effect on the true value of the physical gold.

http://www.examiner.com/article/soros-sells-equities-and-buys-gold-even-as-stock-markets-reach-four-year-highs

Soros sells equities and buys gold even as stock markets reach four year highs

There is a truism in investing that says if you want to succeed, then follow the money and invest in what the rich invest in. Therefore, it is very interesting to American investors when on Aug. 16, a new report on George Soros, global investor and consulting adviser to the Obama administration, sold his stake in U.S. financial stocks and with the proceeds, purchased $130 million in gold. This move is also coming at a time when the Dow just crossed over 13000, and is touching its highest levels since April of 2008.

Soros, who manages funds through various accounts in the US and the Cayman Islands, has reportedly unloaded over one million shares of stock in financial companies and banks that include Citigroup (420,000 shares), JP Morgan (701,400 shares) and Goldman Sachs (120,000 shares). The total value of the stock sales amounts to nearly $50 million.

What’s equally as interesting as his sale of major financials is where Soros has shifted his money. At the same time he was selling bank stocks, he was acquiring some 884,000 shares (approx. $130 million) of Gold via the SPDR Gold Trust.

When a major global player with direct ties to the White House, Wall Street, and the banking system starts off-loading stocks and starts stacking gold, it suggests a very serious market move is set to happen.

Gold is not the only commodity the Soros empire has invested in outside the equity markets. In March of 2011, Soros's Management Fund purchased enough grain elevators and food production sites to become the U.S.'s third largest conglomerate in the food industry.

Just a week ago, Reuters announced that the Federal Reserve had as recently as 2010, coordinated with major U.S. banks to prepare contingency plans for a complete financial collapse. Additionally, in June of this year, a rumor spread by credible sources indicated that Pimco and JP Morgan Chase were cancelling vacations for workers in preparation for an economic collapse.

While the stock markets are reaching new four year highs, the underlying foundation of these stocks are not very strong, and the low volume in the markets signals that very few retail investors are actually participating in the summer rally. Thus the low volume, positive trading that is taking place in July and August leaves the markets wide open for a massive correction, or at the very least, new selling pressures when seasonal volume picks up later in the month and into September.

The rich historically have more information available to them than the average investor does, and it has been prudent over time to follow closely what the major traders do. Thus it is extremely concerning to the American people, and for the future of the U.S. financial system, when global investor and political insider George Soros divests himself from all financial stocks, especially at a time when many of them they are trading at four year highs, to instead purchase gold in what appears to be a prelude for a new crash in equities, and a resumption of the gold bull market.