Gold In Fort Knox, Current Fiscal Policies In The United States, and The Current Selling Price From Gold In U.S. Dollars – November 01, 2022
Currently, in Fort Knox, there’s approximately 147.3 million ounces of Gold. If the SELLING price of Gold is $2000 per ounce, then the U.S. has about Two hundred ninety-four billion dollars with of Gold in Fort Knox ($294,600,000,000)
Obviously, I’m rounding off, and rounding down, as the Price of Gold is still, as of today’s date, is not $2000 an ounce it’s actually sitting at around $1,986.39.
Now, with that said if you go to the U.S. National Debt Clock, the U.S. national debt is quickly approaching $34 Trillion dollars. The truth of the matter is that the Gold in Fort Knox could even pay Canada’s National debt, which currently sits at $1.2 Trillion Canadian, which would be about $800 Billion U.S. dollars; by the way Canada has no Gold Reserves, so Canada is a far worse negotiations position than the United States, if there were to be a financial crisis that would require a global reset.
My position on National DEBT is a rather simple one, I pay close attention to area’s of the economy in which you’ll find PRICE CONTROLS. Price controls are anti-capitalists; they’re the root cause for the DEMAND of fiat money.
Whenever anyone tries to convince me that we should go back to a Gold Standard, I try to remind that person of human behavior and how that reflects the DEMOCRATIC process.
For example, there are a lot of Americans and Westerners in general who wholeheartedly believe in the minimum wage law; there are also people who believe in rent controls.
I was reading about the UNDEVELOPED nation of Ghana in West Africa, and built into their constitution is the right to form a LABOR UNION, which equates to consumer price inflation being BUILT into the economy.
Ghana, a country rich with gold, would find herself, BROKE under a gold standard because if you allow the government to assign an arbitrary price for Gold, that guarantees your country, Province/State, Town, or city will be broke.
Once you comprehend that the economic and financial problems in the world stem from FISCAL policies, which in western democracies revolve around the structure of their DEMOCRACY, that’s when you comprehend why a gold standard is NOT compatible with the modern world.
Comprehending that however, you have to also comprehend that more PEOPLE are starting to figure this out, and because the U.S. dollar has INFRUSTRUCTURE all over the world, the U.S. dollar has taken on different MEANING to different countries.
If you look at the average U.S. STATE, most Democrat Run States have fiscal policies that create a lot of consumer price inflation, while in more Republican States, inflation is rather level; in fact, one could argue that a lot of Republican-led States, only have inflation problems because SPENDING coming from the White House.
Currently, Joe Biden has decided to declare war on fossil fuels, and a lot of Democrat voters imagine that without government intervention, the world will end, so from an economics and financial perspective, more consumer price INFLATION is built into a lot of Democrat-run States, which also want cradle to grave welfare.
Voters vote with their feet, and you’re seeing a lot of voters moving to Republican States. Well in the post, I’m making the argument that with the U.S. dollar, more people are going to move AWAY from the United States; if more people in emerging countries start to comprehend that FISCAL policies are fueling POVERTY.
I’m even hearing from Americans, who don’t live in America and still get taxed by Uncle Sam, saying it’s worth it to pay the tax while living abroad. You have to remember that a lot of wealthy people tend to purchase assets, meaning that through multiple different wealth vehicles, they literally live off their DEBT.
Warren Buffet, for example, can go anywhere around the world and ask for a loan; you might say to yourself, why would Warren Buffet want a loan? The answer is taxes; a lot of wealthy people on paper, own NOTHING but control the assets of a lot of different entities.
Once you comprehend that a lot of wealth is basically on a ledger, you start to comprehend the dilemma the entire world has as it relates to the U.S. dollar. I’ve argued that the United States economy might collapse while the Federal Reserve remains alive and strong.
What I’m getting at here is that life in U.S. dollars will be the most expensive in the United States because the U.S. doesn’t have capital controls, and their voters are, for the most part, financially uneducated.
By that, I mean if a politician comes along as says the weather is changing and the GOVERNMENT needs to phase out fossil fuels to stop it, the average American voter will be on board with that stupid plan.
Now, other countries might even sign on to the climate change accord, but their fiscal policies will NOT reflect changes to how they price pollution. In China, for example, they’re always claiming to be part of the solution to climate change, but they don’t make any changes to their fiscal policies.
With that said, if the United States returned to a gold standard, this would be a DEFLATIONARY event not an inflation one, meaning that price of a candy would come back to 1 or 2 cents, and don’t get twisted, the market could easily adjust to consumer price DEFLATION, the entity that will not be able to adjust to price deflation are BLOATED governments.
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Because again, the problem is not the money supply; the problem is fiscal policy, which means the problem is the modern democratic process. With that said, Argentina gives us a glimpse into how long it could take before people via the democratic process, accept the fact the government is too big.
I also bring up Argentina because an actual fellow anarcho-capitalist Javier Milei is gaining popularity in Argentina. Javier Milei is politician, and although the likelihood of him winning is slim to none, he’s still making traction; why? Because Argentina has suffered from hyperinflation problems, which has resulted in people researching how to SOLVE the problem.
These DEBATES in Argentina are leading a lot of people in my direction; I’m an Anarcho-capitalist, and I’m of the belief that the more INTELLIGENT humans get the SMALLER the government will get, and the smaller the government gets, the faster those human groups will see the POT OF GOLD over the rainbow.
I’ve stated in multiple posts, that the MONEY is not the problem; the problem is US, yes you, and me, we’re the problem, I currently do not have the skills to present my arguments to the average person, that’s a problem I have, and if you want a better planet, a cleaner planet, that’s a problem you have also.
Using the GOVERNMENT to clean up the planet, is the dumbest idea ever; I live in North America, and the Prime Minister of Canada, the President of Mexico and The President of the United States are all SOCIALISTS.
All three of these “leaders” won their respective elections fair and square; why? Because the MAJORITY wants free stuff/free GOLD from the government. There are fewer ounces of gold in Fort Knox than there are people in the United States.
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This should be an indicator that under a GOVERNMENT gold standard, the money supply would have to contact, meaning that technology has actually created fire sales all over the global economy, which in reality means with better fiscal policies, we’ve created a PARADISE on earth.
But unless you’re an anarcho-capitalist, you have no idea what I’m talking about, as you’re imagining GOVERNMENT money as the solution, no, governemnt money is the PROBLEM, always has been, always will be.
Interesting times ahead!