US SPENDING ENTIRE GOLD RESERVES EVERY 6 MONTHS! Jim Rickards: No Way Fed Will Stop Easing, Ron Paul: ‘The Sequester Is A Joke, There Are NO Cuts!’
March 2nd, 2013
US SPENDING ENTIRE GOLD RESERVES EVERY 6 MONTHS!
We “purport” to have just over 8.000 tons of Gold. For round numbers this is valued between $400 billion and $500 billion. The Fed has in place (probably clandestinely much more) a plan to purchase $85 billion per month of Treasury bonds that the Treasury must issue but nobody else wants to buy. $85 billion times 12 equals $1 trillion two hundred 60 billion. Numerically it is $1,260,000,000,000. The Gold “reserves” (probably close to mere fumes by now) represented the wealth accumulated by the greatest industrial nation on Earth. It took roughly 170 years to accumulate some 20,000 tons after WWII which was “officially” sold down to just over 8,000 tons by 1971.
Fast forward to present day and what are we doing? We are spending ALL of our Gold every 6 months! And this assumes that we have the Gold! The real number is probably 500 times over if you use actual debt. The number is an “infinite” amount of times over if (it is) the Gold is gone.