Regulation of Gold price

Could the Fed govt. return to regulating the price of gold? It is a world wide commodity now, correct? Traded on a world market?

Mike, you may not remember..............or are too young to remember..........but in the "old days" prior to 1971, miners in Alaska smuggled their gold into Canada for sale because the price in Canada was the world market price.

But........to address your question.............the coinage clause of the Constitution gives congress the authority to "regulate the value thereof". But the real answer in YES congress can set the value of the gold owned by the US Treasury and the gold certificates held by the Federal Reserve.

That gold is today carried on the Treasury books at a value of $42.2222 per ounce. The world price is about 42 times that amount.

Congress could change that valuation any time they choose

I love gold.

I suppose they could ban the ownership of gold again.

Gold? Analog Bitcoin? How much y'all love physical gold? I have over an ounce (1.12) of Swiss 20 Francs (6 X .1876) I'd sell to anyone for Spot -5% paid via Bitcoin only. Looks like thet sell on APMEX for at least +5% over spot. I'd meet in person anywhere in WI.

They could I suppose and just like my guns my answer will be come and take it.

On a secondary note they only banned the ownership of bullion. Numismatic coins, jewelry, and other things like industrial uses were fine. Melt it down and make a necklace. If silver is your thing buy sterling silver sets

Don’t think it could be done now except in Venezuela.

I think the best they could do is starting minting a gold coin with a face value to it. To actually regulate the price of gold, they'd have to get the world to agree to it. China and Russia have been hoarding gold the last few years so good luck on that unless China becomes our new overlords.

They could I suppose and just like my guns my answer will be come and take it.


Dont say that too loud or big Joe will turn you into a grease spot in the charred ruins of your house.

So if they carry it at $42 an ounce,and spot is around $1760,what would happen if they sold all 261,000,000 ounces they have? Value would drop to nothing. That's on around a half trillion at 1760,and 11 billion at 42$.

If the feds have that much gold.....maybe it is not all there?

Do you think they actually still have a quarter million ounces?

Germany had a heck of a time getting its gold from the US. Been speculation over the years that Fort Knox is empty.

not a quarter million,,,,,261 million,according to google,that's how much the US treasury holds

I would like to be in front of the line to buy at that price.

Really, are you going to split hairs on me?

In don't believe they have that much physical on hand. Maybe a piece of paper saying they leased it.

Not trying to split hairs. That's what they claim to have,we owe something around 28 trillion dollars,and supposedly have less than half a trillion at 1760$ an ounce in reserve. My point is,if they sold it all,it wouldn't be worth doodley-squat. If the crap hits the fan,no amount of gold would buy my canned food and my other stock.

Maybe not yours, but someone else would trade.

There always has to be a means of exchange.

https://www.usmint.gov/about/mint-tours-facilities/fort-knox

There's supposed to be gold stored at Fort Knox still.

My youngest cousin just got stationed at Fort Knox last week. He doesn't do anything with the gold. He's in transportation logistics. I'll have to ask him if he got to see the gold.

Keith

Wouldn't it be a great thing if Tman was still up during TEOTWAWKI so we could network here? Even if it's not though, I imagine I'll have no issue selling my product.

The U.S. will never sell or devalue gold to 0. It is one of the few commodities that always had, and always will have, value. If it was worth 0, I'll take all the "0" stuff I can get my hands on and make fishing weights! . . . now it has value again!

PS . . . the Fed Reserve in NY has more gold there than Fort Knox.

Might not be able to tell you if he did. Not president has seen the gold since FDR I believe.

Are we sure? Or more ious?

Yes! of course it's true! . . . didn't you watch Die Hard with a Vengeance? . . . geez . . . some people

for anyone who likes to research the word is US military seized gold & treasure from under the vatican recently. many military plane loads of such were brought to US. we got untold wealth somewhere in US. special forces also aquired legal US documents from those tunnels. try all search engines until you find info. the truth is out there

So are the nutty stories

When I did basic at Fort Knox back in '83 the obstacle course consisted of climbing piles of gold and they used to fiill our rucksacks with gold for the forced marches. So it was there in '83.

One of the best movies ever

But most of it doesn't belong to the US.

https://www.usmoneyreserve.com/blog/how-much-gold-is-in-fort-knox-fun-fort-knox-facts/

56% Ft Knox
21% West Point. NY
17% Denver mint

Remainder spread out between various mint facilities and regional reserve banks for display