Words of Wisdom from Gary Christenson
Lunch With Elvis
Sarcasm and fantasy alert!
Elvis and I had lunch last week. We dined on Sasquatch burgers, fried Unicorn fritters, and we were joined by “the lone gunman.” We had our special luncheon in the main vault room of the Fort Knox Bullion Depository in Kentucky. It was practically empty so converting it to a dining area was relatively easy.
It was a fabulous lunch. It is unfortunate that most of the gold had disappeared, but I suspect that the Chinese value our former gold more than the US ever did.
As a matter of curiosity, I did some quick math regarding Fort Knox gold. The “official” gold is listed as about 147,000,000 ounces – a little less than $200 Billion at today’s prices. For simplicity, round that up to $200 Billion and call it one Fort Knox Equivalent Unit, or one FKEU.
- Wall Street Bonuses for 2014 were about 0.14 FKEU.
- The State of Illinois unfunded liabilities for their pension plans are reported as about 0.4 FKEU.
- The annual expenses for the government of the State of California are about 0.55 FKEU.
- US government official expenses in the last 21 days were about 1 FKEU.
- US government expenses for “food stamps,” the SNAP program, for the past 3 years were about 1 FKEU.
- The 2008 TARP authorization was about 3.5 FKEU.
- The stock market capitalization for Apple Computer stock is about 3.7 FKEU.
- Federal Reserve “printing” of new currency “from thin air” in the various QE programs has been about 15 FKEU.
- The increase in official US national debt from January 2009 to January 2015 was about 37 FKEU.
One FKEU isn’t what it used to be. Perhaps that partially explains why there has been so little media interest regarding Fort Knox gold and why there has been no audit in the past 60+ years. An audit might discover that the gold in Fort Knox is, like the purchasing power of the US dollar, mostly gone.
Times change, gold moves to China, India and Russia, debt increases exponentially, a mighty storm is coming, and, I confess, we really did not … enjoy Sasquatch burgers.
Read The Gold Is Gone
Read All the Gold in Fort What’s-Its-Name
Read The Biggest Government Lie In History
Read Ron Paul Worries Fort Knox Gold is Gone
Gary Christenson
The Deviant Investor
And on that positive note!
I think that it will not be called a depression in the history books, but a major societal change. Don’t you?
I agree again with both you and Larry
That’s a nice evaluation of the situation Al, I believe you may be on to something. It’s too bad we don’t look back at our past to see what worked. And then try it again.
I believe Einstein would agree, that that is the definition of sanity.
Absolutely agree, gregd
Like all markets Gold is manipulated. Since it is really is such a small physical market, banks cannot make money from it, they needed to expand its size. This is one reason why paper derivatives were invented, to increase their fees. Physical gold is dug out of the ground then locked in a vault, there is little trading volume, paper gold, which has no resemblance to gold trades at insane volumes. This has led to paper setting the price, which is lucky for stackers and gamblers alike. Know which one you are before you buy. If you can think like the banks, then you can trade gold.
Until the comex breaks, gold stays cheap.
World wide recession is at hand at least as far as the lousy measure of GDP goes.
Swiss shrunk.
U.S. shrunk
Canada shrunk.
Russia shrunk.
Greece shrunk.
Brazil shrunk.
The list goes on…
Hey Janet, crank up the printing press again, this time faster!
The perfect storm:
Interesting movie.
We both enjoyed it.
I really got a lot out of that article–(sarc)
Al- you can do better…
Probably, but I happen to like Gary.
I agree Al….it is a societal change, with a financial reset agreed upon with other
nations. Sorry, don’t mean to be negative, but reality today is negative for those
that fail to take the time to learn.
‘simply said’
Agreed Wynn!
I agree with you Wyn!
I completely agree Wyn with both you and Gary.
Don’t forget to add into the equation that US has the most powerful military that control all of the seas shipping lanes. US also controls all the data (has access to the information about money trading before it happens). Maybe it really is different this time?
Well Fancy, something is definitely keeping the spinning plates in the air!
Interesting. The gold in Fort Knox is gone, even if it’s still there.
Interesting that the US has friendly Canada and Mexico on their two borders but spend more money on military expenditures than did the countries with the next ten highest military budgets-combined.
The US intelligence agencies have in excess of 110,000 employees and the US black ops budget alone dwarfs the military budgets of every planet on earth and yet they REFUSE to put together a couple dozen of bean counters.
62 years and counting. Good as gold,Uncle Scam.
Should read:every country on earth.
There is no gold in FK to speak of….the war is the US ‘paper money’ against the Eastern world (AIIB, etc.) and their gold! Even removing this part of the equation, our national debt and the growing interest on the debt, the continuing diminishing GDP, the increasing value of the dollar and a non-productive society will be the very elements that will bring a depression more severe than ’29 very soon….in my opinion the downfall begins late this year….probably September!
‘simply said’