Note: Paul is traveling this week, so we’ve brought him in with a pre-recorded piece to explain to us a gain the importance of running a risk-managed portfolio during times like these. But first I dive into the Fort Knox audit and gold and silver’s remarkable price action of late.
It looks like we’re about to find out how much gold is actually in Fort Knox. Or not there.
Trump has confirmed that by saying, “We’re going to go into Fort Knox to make sure the gold is there.”
Is it Fort Knox or Fort Deception? And if the latter, does that explain the massive gyrations in the gold markets of late, with exploding lease rates in London and speciation that more than 2,000 tons have been flown across the Atlantic Ocean over the past couple of months?
That’s a strong possibility. It fits.
If true, it means two things. (1) The US’s official gold has been used to put additional supply out into the gold market which would have been price suppressive. (2) Now that same gold has to be brought back into Fort Knox, which would be quite price-supportive.
It implies also that the great game of endlessly suppressing the price of gold with endless paper gold contracts issued by US bullion banks might be over.
Whatever the cause, big money is moving in gold in a very big way. When the elephants stampede, my instinct is to run along with them in the same direction, and not stop to ask to many questions.
Back to the audit of Fort Knox. I am 99% sure that the gold that is supposed to be there isn’t there. Why such certainty? Because my rule of life is that whenever bureaucrats spend more effort trying to prevent something from seeing the light of day than it would take to simply let that thing be seen, it’s because they really want that thing to remain hidden.
If the gold was actually there, we’d all be able to book a tour, walk past the vaults, have a nice lunch in the visitor cafeteria, and buy a t-shirt on our way out. If the gold was there, they’d let us see it.
We can tour the US Treasury’s money printing operations. We can visit national galleries with untold wealth in them. But not gold. Oh no! Not the gold!
That’s the tell right there.
At any rate, there’s a fascinating historical tale to tell about the earlier supposed gold audits both for what they say and what they omit.
I review both the last audit in 1986 as well as the (truly) honorable Ron Paul’s 2011 gold transparency hearing.
Finally, I think the equity markets are super stretched, as are consumers and that US government spending is sure to fall. All of which is a polite way of saying your portfolio should be managed by someone who uses a risk-managed approach. This is no time to passively buy-and-hold, or buy the dip. Instead, get a free portfolio and financial planning review with one of Paul’s team at KWM so you can develop a defined plan for managing risk and navigating toward a successful retirement.
If you’re ready to buy gold or silver, especially if you are ready to have it securely vaulted in your name in the jurisdiction of your choice, then click here to reach our preferred gold partners at GoldCore.
Or, if you are self-employed and ready to take control of your 401k by managing its investments yourself, then please click here to get in touch with one of the amazing people at eQRP to explore if a self-directed retirement plan is right for you.
Now, let’s dive in…
