By Alex J. Pollock
The Board of Governors of the Federal Reserve should speak authoritatively on the question and explain why the Fed can or cannot buy and sell gold.
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40 sats \ 1 reply \ @SatsMate 11 Oct
They definitely should try to increase its holdings to stay ahead of China, Russia, Saudi Arabia, etc.
I think more importantly we should focus on creating a fiscal surplus, and adopt bitcoin on our balance sheet. That chart is signaling something to the world (There is an erosion of trust in the USD and Treasuries).
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0 sats \ 0 replies \ @Undisciplined OP 11 Oct
I doubt we'll ever see fiscal surpluses again. They're antithetical to how the regime operates.
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61 sats \ 1 reply \ @Golu 10 Oct
Why not?
The question only rains though is the right time to buy? I believe fed already have tonnes and tonnes of Gold.
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0 sats \ 0 replies \ @Undisciplined OP 10 Oct
There are various legal statutes constraining the Fed's operations.
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30 sats \ 0 replies \ @7e6e393a56 11 Oct
Investigate the history of gold a little and everyone will understand how the dollar is today the main currency in the world. The Bretton-Woods agreement in 1944 meant that the USA already had a large part of the world's gold reserves
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25 sats \ 5 replies \ @Satosora 10 Oct
"Today, many central banks, including the European Central Bank, the Swiss National Bank, the German Bundesbank, the Bank of France, the Bank of Italy, the Dutch National Bank, the Bank of Japan, the Reserve Bank of India, the People’s Bank of China, and the Monetary Authority of Singapore among others, hold gold as an investment and reserve against their monetary liabilities. It may surprise some that, in contrast, the Federal Reserve owns no gold at all."
Is the usa behind or ahead of the times?
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25 sats \ 4 replies \ @Undisciplined OP 10 Oct
The US is leading the way on the road to financial ruin.
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38 sats \ 3 replies \ @Satosora 10 Oct
Or maybe we will be first to exit the race?
Just a matter of perspective.
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40 sats \ 2 replies \ @Undisciplined OP 10 Oct
I think Latin America (or at least parts of it) may beat us there. The US regime will not give up the world reserve currency easily or willingly.
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43 sats \ 1 reply \ @grayruby 10 Oct
not willingly is the key.
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30 sats \ 0 replies \ @Satosora 10 Oct
Yes, but will they have enough power to do anything about it?
If their money inflates, it wont be worth having.
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23 sats \ 9 replies \ @grayruby 10 Oct
Are you suggesting there is no gold in fort knox?
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39 sats \ 2 replies \ @rebel_nomad 12 Oct
Its practical to have a fort when you have hide, well nothing?
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0 sats \ 1 reply \ @Undisciplined OP 12 Oct
On the other hand, if they had the gold that’s supposed to be there, why haven’t any audits been allowed?
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0 sats \ 0 replies \ @rebel_nomad 12 Oct
Mealworms ate it all
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40 sats \ 5 replies \ @Undisciplined OP 10 Oct
I think the more interesting question might be "Whose gold is in Ft. Knox?"
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27 sats \ 0 replies \ @rebel_nomad 12 Oct
This might be what WW3 is for...
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20 sats \ 3 replies \ @grayruby 10 Oct
Good question.
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50 sats \ 2 replies \ @Undisciplined OP 10 Oct
Mark Moss had a video (that I didn't post because I thought the analysis was a bit sketchy,)about the possibility of the US revaluing the gold that we have certificates for.
It's an interesting idea and in his example of revaluing the certificates to $20k per ounce, the US gains $5T in reserves. That would be highly inflationary, but it is on the table as a financial gimmick.
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38 sats \ 1 reply \ @grayruby 10 Oct
I think Jim Rickards has suggested something similar
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0 sats \ 0 replies \ @Undisciplined OP 10 Oct
That might have been where the proposal came from.
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0 sats \ 0 replies \ @023ad18700 11 Oct
If they bought BTC it would be the end of BtC it would become so mainstream and they would try to sell it to us and charge interest
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