History Channel for Fort Knox: Secrets Revealed

If you are an Astro subcriber with History Channel (Channel 555), tonight you may want to spare an hour to watch the documentary on the world’s safest safe. Astro is bringing Fort Knox: Secrets Revealed at 8pm tonight via History Channel.

For those who have no clues on Fort Knox, think of it as the world’s safe deposit box, with 147.3 million ounces of gold in it [1].

^ Snippets from History Channel’s Fort Knox: Secrets Revealed

It holds a lot of consipiracy when it comes to the real amount of gold residing in it. Fort Knox has never been auditted and Ron Paul has been pressing the authority over and over again to open up it’s vault for stock checking. He worried that the government has secretly sold off part of the stockpile and replaced it with tungsten bars that are painted gold [2].

^ Radio talk on how gold bars from Fort Knox were actually tungsten bars dipped in a thin layer of gold!

While I myself have yet to watch the documentary, it would be interesting to know the history behind the world’s most secured fort. It may or may not touch on the topic of gold.
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If You Work to Earn Money You Need To Watch This

An interesting video on money creation I found in youtube. The first part of the video explains how the money system works. The second part of the video highlights the First National Bank of Montgomery vs Jerome Daly case which is also known as the 1968’s Credit River Case.

“Six months later Justice Mahoney was found dead (allegedly by poison) and Mr. Daly was disbarred and never practiced law again.” – pjkartist.hubpages.com

References:

• http://en.wikipedia.org/wiki/First_National_Bank_of_Montgomery_vs_Jerome_Daly
• http://www.constitutionalconcepts.org/creditriver.htm
• http://www.citizensforgovernmentaccountability.org/?p=668
• http://transitioninaction.com/forum/topics/the-case-of-jerome-daly-v

Hot Monday: What’s next for Silver & Gold after the US debt clock?

It’s going to be a hot sizzling Monday today. Washington now has one more day to solve the puzzle before the debt burst. Unless they come out with a fire-fighting plan, US will start defaulting on their record-breaking $14.46 trillion debt by tomorrow.

How would this impact the precious metals?

In short, the more money the Fed prints OR the weaker the dollar is the better it is for the PM market. That would happen if US raises their debt ceiling or decided to start defaulting its current debt. That’s the bull camp.

If Washington are able to stop ballooning their $14.46 trillion ceiling, not default its current debt AND turn their Federal P&L from red to black – that spells the bear for PM. Been spending my entire weekend catching up the debt news and to have THAT, is almost unlikely.

Following are some materials that would go along well with your morning coffee.

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Gold is not money, Federal Reserve

Last Wednesday, Federal Reserve Chairman Ben Bernanke openly denied gold is money when questioned by congressman Ron Paul at point blank. Check out the video below on Ron Paul debating with Ben Bernanke on the Federal Reserve’s decision on bailouts. The classic moment is at 4″55. A classic too great to be missed out on beautiful Sunday morning.