lukasz on Nostr: US gov is supposed to have 4580 tons of gold 🪙 reserves. This is around 2% of ...
US gov is supposed to have 4580 tons of gold 🪙 reserves.
This is around 2% of total physical gold in circulation.
If it's gone (stolen or misappropriated), and this is made public, the US 🏛️ will have two choices:
1) once again confiscate foreign gold (6-7000 tons in US custody), 🪦
2) leapfrog & pivot quickly to Bitcoin. ⛓️
The latter will crash gold price, the former will pump it.
Auditing gold is hard: very expensive and cumbersome. De facto you have to melt and recast all the gold bars.
But it could be done.. once a decade for example..
Based on public information there was a full Fort Knox audit in 1953 and partial in 1974.
I just filed so called "FOIA request" to the US Treasury to obtain documents from these audits. Based on Freedom of Information Act I should be able to get something, let's see. 👀
Published at
2025-02-18 03:02:23Event JSON
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"content": "US gov is supposed to have 4580 tons of gold 🪙 reserves.\nThis is around 2% of total physical gold in circulation.\n\nIf it's gone (stolen or misappropriated), and this is made public, the US 🏛️ will have two choices:\n\n1) once again confiscate foreign gold (6-7000 tons in US custody), 🪦 \n2) leapfrog \u0026 pivot quickly to Bitcoin. ⛓️ \n\nThe latter will crash gold price, the former will pump it.\n\nAuditing gold is hard: very expensive and cumbersome. De facto you have to melt and recast all the gold bars. \n\nBut it could be done.. once a decade for example..\nBased on public information there was a full Fort Knox audit in 1953 and partial in 1974.\nI just filed so called \"FOIA request\" to the US Treasury to obtain documents from these audits. Based on Freedom of Information Act I should be able to get something, let's see. 👀 https://m.primal.net/PBEq.jpg ",
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