What happened to the GOLD?

[nnuut]

When Nixson went off of the GOLD STANDARD we had FORT KNOX filled to the hilt with gold and silver. What happened to the REAL money?

[nnuut]

HMMMMMmmmmmmmmmm? I guess nobody knows? No that can't be true, especially on this site.

[Wimpy]

The 'protectors' of the gold 'warehouses' have all been sworn to secrecy. It is a national security issue...LOL...or will be shortly!

[TiCKed]

Guess I don't know what you mean.....

Fort Knox is still filled with gold as far as I know. The silver reserves (where ever they were kept) has pretty much been used up by the U.S. Mint making commemorative coins and silver eagle boullion coins.

If by "real money" you mean the old 90% silver coins, much was melted during the huge silver boom of the early 80's, although some still exists in bags of $1000 face value. They get dragged out when silver spikes up every few years....like now.

And don't forget us collectors! We've all got plenty of silver coins saved for posterity!

[nnuut]

Yep, nobody really knows!!!!

[LA_Guy]

Here is my theory:
People from China, India and Saudi Arabia are buying up all the gold bullions because the US Dollars is weak and the US economy is on the decline therefore gold is a better investment.

Here is the proof:
- China and India economy had been booming in the past few years. Those oil rich countries like Arabia, Dubai, Kuwait have a big surplus of money from the oil price increase. So what do you do when you have a lot of money? Buy Gold!! Gold is the universal monetary.

[TiCKed]

Yep, nobody really knows!!!!

Guess I'm still confused by the question.....

Except for the small amount of gold used in industry, I'd say a vast percentage of the gold that existed 50 years ago still exists today. The things that change are the world population, and a real increase in popularity recently. You could have bought it for less than $300 an ouce not more than 5 or so years ago, and it wasn't because it was more plentiful then! Just out of favor. Gold is gold, and will always be gold.

As for Fort Knox:
http://www.usmint.gov/about_the_mint...on=fun_facts13

[nnuut]

The question was-----------> When Nixon went of of the GOLD/SILVER standard and started the PAPER STANDARD, what happened to the ORO, Gold and Silver. Is it still there? Was it spent? Are we broke? Is our money just paper out not. WHO, ON WHAT WAS OUR MONEY SPENT???????? WE need to know!!!!
tryin' to have a little fun!!!

[mayday]

The guarantee on the silver certificate has vanished. So what are we dealing with faith money? How much do you think your paper money is worth? If it takes more paper money to buy gold then the guarantee is gone. So we are dealing with what we believe the value of the dollar is, not gold.

[Spaf]

Mayday,
The gold standard is gone! Welcome to to the Cartel (FOMC) and the inflation creature it created.

[Show-me]

nnut,
The former "reserve silver" is still being marketed on places like ebay. It was probably sold to the lowest bider, lobbyist friend, campaign contributer, jackass then melted down and re-coined under a different name.

O by the way your paper money is worthless. Based exclusively on "the good faith and credit" of the U.S.A.............BAHAAAHAAAA! We're floating checks on imaginary money...........Can I do that at Walmart without going to jail?

See ya! Have a great weekend.

[FUTURESTRADER]

I think there's more gold bullion in the new york mercantile basement then in ft knox these days. (IAU) was first etf for gold,, (GLD) is another that trades 1/10 the price of spot. I think th companies have to hold at least 1/1o of the actual metal to trade these 'stocks'. Silver etf deal is 90% complete and blamed for recent spike, and, if like gold etf, will continue to create more demand