We've got a (Substack exclusive...!) update for you on what's really going on with the gold market, the proposed inspection of the Fort Knox gold reserves, & the BOE "unthinkably" running out of gold.
Hi Sven... Actually you do not do random samples with gold bars worth $1.2 miilion per bar. You must check each one. Imagine the Metropolitan Museum of NY accepting a thousand important paintings from another important museum and doing "random" testing...
There simple are protocols to test from bar stamped weight matching,,, to flourescent X rays... to various levels of destruction using more authoritative tests.
many of the bars have been in the custody of the treasury for 100 years (or longer 50,000 estimated before 1900), from many from different countries and acquired by just as many circumstances: collateral during war, trade payments, melted coins during the 30s...Very few bars have left the Treasury or been deposited since 1971... the first step is to collect all the provenance data, sort it out and and get in there and start counting the bars making visual assessments.
Hi Sven... Actually you do not do random samples with gold bars worth $1.2 miilion per bar. You must check each one. Imagine the Metropolitan Museum of NY accepting a thousand important paintings from another important museum and doing "random" testing...
There simple are protocols to test from bar stamped weight matching,,, to flourescent X rays... to various levels of destruction using more authoritative tests.
many of the bars have been in the custody of the treasury for 100 years (or longer 50,000 estimated before 1900), from many from different countries and acquired by just as many circumstances: collateral during war, trade payments, melted coins during the 30s...Very few bars have left the Treasury or been deposited since 1971... the first step is to collect all the provenance data, sort it out and and get in there and start counting the bars making visual assessments.
Great Work Maggie. And JJ is a true gem. Hopefully not the last of a dying breed. Let’s believe and pray that JJ can inspire the next generation(s) to do the hard work and then share his experiences. No AI BS.
When everyone wants their money that’s called a bank run. His “everyone stay calm” rings a bit hollow. If they could’ve paid, they would’ve paid.
Gm sir, I don't understand this. Could you restate or phrase it as a question? tyvm...
Thank you, Maggie, timely!
There’s 10 million federal employees. I’m sure they could audit the gold quickly .
You do random samples.
For example, the NFL doesn’t test every athlete for PED’s.
Anyone take Statistics? 🙄
Hi Sven... Actually you do not do random samples with gold bars worth $1.2 miilion per bar. You must check each one. Imagine the Metropolitan Museum of NY accepting a thousand important paintings from another important museum and doing "random" testing...
There simple are protocols to test from bar stamped weight matching,,, to flourescent X rays... to various levels of destruction using more authoritative tests.
many of the bars have been in the custody of the treasury for 100 years (or longer 50,000 estimated before 1900), from many from different countries and acquired by just as many circumstances: collateral during war, trade payments, melted coins during the 30s...Very few bars have left the Treasury or been deposited since 1971... the first step is to collect all the provenance data, sort it out and and get in there and start counting the bars making visual assessments.
This was super interesting and very timely! Thanks Maggie!
Hi Sven... Actually you do not do random samples with gold bars worth $1.2 miilion per bar. You must check each one. Imagine the Metropolitan Museum of NY accepting a thousand important paintings from another important museum and doing "random" testing...
There simple are protocols to test from bar stamped weight matching,,, to flourescent X rays... to various levels of destruction using more authoritative tests.
many of the bars have been in the custody of the treasury for 100 years (or longer 50,000 estimated before 1900), from many from different countries and acquired by just as many circumstances: collateral during war, trade payments, melted coins during the 30s...Very few bars have left the Treasury or been deposited since 1971... the first step is to collect all the provenance data, sort it out and and get in there and start counting the bars making visual assessments.
Appreciate the insight. Thank you for the reply.
Great Work Maggie. And JJ is a true gem. Hopefully not the last of a dying breed. Let’s believe and pray that JJ can inspire the next generation(s) to do the hard work and then share his experiences. No AI BS.
Educational interview. However I for one don't think we'll be heading for a golden age like he mentioned. Tim Morgan explains part of why not. https://surplusenergyeconomics.wordpress.com/2025/02/26/300-revolutionary-times/
Going to go where no man has gone before, Mr. Spock…