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Ron Paul Is Currently Holding A Hearing On Legislation For A Full Audit Of US Gold Reserves, Aka The "Show Me The Tungsten" Bill

Tyler Durden's picture




 

Domestic Monetary Policy and Technology Subcommittee Chairman Ron Paul is currently holding a hearing on legislation calling for a full audit of U.S. gold reserves. H.R. 1495, the “Gold Reserve Transparency Act of 2011,” calls for an audit by the Treasury that gives a full and thorough accounting of the U.S. government’s gold reserves, requiring an inventory and assay of the gold reserves. The Treasury’s audit is subject to independent review by the Government Accountability Office, allowing them access to any pertinent records or locations, including Fort Knox. "The Treasury Department has been less than transparent with the results of its gold audits,” Paul stated.  “It is asking the American people to trust that all the gold is there, while not allowing site visits and not publishing all the data it holds on its audits and assays.  Since most of this gold was originally seized from the American people in the 1930s, they deserve more transparency than a handful of financial statements." 

The hearing will discuss recent audits of U.S. gold reserves; challenges to conducting a full audit; and impediments to an accurate assessment of the US gold position, including any leases, swaps or other encumbrances placed upon the gold reserves; and also examine changes to the legislative proposal that will ensure a full and accurate audit, assay, and inventory of U.S. gold reserves.

WITNESS LIST

The hearing which can be watched, but barely heard due to the ongoing insistence of using Made in 1924 USSR microphones can be followed here:

 

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Thu, 06/23/2011 - 14:31 | 1395777 SparkySC
SparkySC's picture

Inventory and Assay!

 

That may be his Presidential motto!

 

Cheers

Thu, 06/23/2011 - 14:49 | 1395848 TapperIsTicked
TapperIsTicked's picture

Pls add after assay and prior to the exclamation:

and when done Hang the culprits as required!

That is a Presidential formula worthy of support.

 

Thu, 06/23/2011 - 16:57 | 1396503 wanklord
wanklord's picture

By appealing to tons of bullshit about the Constitution and other patriotic crap, Congressman Ron Paul is able to seduce his brute and ignorant constituency and most important, to perpetuate himself in that position for years to come (a clever way to make easy money). Besides that, Americans are a bunch of stupid animals easy to manipulate and subdue. The sooner the US economy collapses the better, so these brutes will finally learn NOT to live beyond their means.

Thu, 06/23/2011 - 17:29 | 1396604 Abiotic Oil
Abiotic Oil's picture

If you think Ron makes money from his seat then you need to do a little research. BTW he very clearly states he expects a total collapse. Stick to what you know.  Here, try wiki... "Paul proposed term-limit legislation multiple times, at first in the 1970s in the House  where he also declined to attend junkets or register for a Congressional pension while serving four terms. He also proposed legislation to decrease Congressional pay by the rate of inflation.

Thu, 06/23/2011 - 18:01 | 1396745 faustian bargain
faustian bargain's picture

If his ideas were really all that seductive, everyone in government would be using them.

In fact, his ideas are about as seductive to the typical pro-government American (and let's face it, we wouldn't be here if they weren't) as would be an ugly troll trying to get a date by telling the girl he's got a tiny dick and she's got to pay for dinner.

Fri, 06/24/2011 - 01:41 | 1397686 jeff montanye
jeff montanye's picture

and you say it like that's a bad thing.

Thu, 06/23/2011 - 20:35 | 1397114 YHC-FTSE
YHC-FTSE's picture

I probably loathe most Americans I categorize as violent moronic apes, but Ron Paul actually seems like a decent human being - the type I can easily empathize with. You really ought to research him better. 

 

The trouble is, I don't think he has any choice but to appeal to the stuff which salivates the lowest common denominators in his country. He lives in a country full of stupid people who throw money at anyone who says "9-11", the constitution and jingoistic crap a few times in a speech. 

Thu, 06/23/2011 - 20:47 | 1397137 drB
drB's picture

He gets elected very comfortably in his district so far. Consequently, he has at least some appeal to Americans..or more precisely Texans.

Thu, 06/23/2011 - 21:02 | 1397165 YHC-FTSE
YHC-FTSE's picture

Well, either Texans are far smarter than the average American, or they just like voting along partisan lines. I'd say they are lucky that Paul chose their district. Doesn't matter, but I do wish he'll get elected to the highest office next year. He is definitely the only US politician I would trust in the White House not to make things worse.

Thu, 06/23/2011 - 21:10 | 1397181 drB
drB's picture

It is probably a little bit of both. The powers try to unseat him in primaries and do not succeed - that may be the "smarter" part (although electing GWB as governor of TX in past would imply the opposite). They say here that "Paul may be off the wall, but he is our-kind off the wall guy".

The election does proceed by voting along partisan lines.

Thu, 06/23/2011 - 21:17 | 1397195 FreedomGuy
FreedomGuy's picture

I believe he is the only one running in a major party that will actually change the status quo. I listened to Hollywood Mit and I am sure he is part of the one party system under two names.

I also hate how Ron Paul in the debates gets the dumb or distracting questions on illegal drugs or gay rights or something minor. He is rarely allowed to talk on his strength, economics and the Constitution.

Thu, 06/23/2011 - 22:04 | 1397295 YHC-FTSE
YHC-FTSE's picture

Welcome to the tiresome world of the msm. I can see what will happen when Dr.Paul is ahead in the polls during the primaries next year: A thousand "jokes" about another old white guy running for office, and not a word about how dire the economy has become - to which he seems to be the only sane solution. 

 

We all know what would most likely happen: Sarah Palin pops up at the last minute to win the republican nomination (Probably by repeating 9-11 a thousand times in a speech that brings a tear to every moron in America), and that would be the cue for all the nuclear armed countries in the world to reconfigure the targeting computers on their ICBMs. If there ever was a legitimate reason for a pre-emptive strike, that would be it. It's funny, but it could be horribly true. 

Thu, 06/23/2011 - 23:17 | 1397418 trav7777
trav7777's picture

Paylin was no worse or better than any of the 3 other people involved in the last race

Thu, 06/23/2011 - 23:44 | 1397471 Jaciems
Jaciems's picture

please tell me youre joking...

Fri, 06/24/2011 - 01:45 | 1397691 jeff montanye
jeff montanye's picture

hard to say what any of them but obama is/would have been like but he sets a very low standard.  and palin couldn't possibly have lied as much about her intentions.  that's like faster than a speeding bullet ....

Fri, 06/24/2011 - 03:14 | 1397757 Al Gorerhythm
Al Gorerhythm's picture

And that's it in a nutshell.

Fri, 06/24/2011 - 09:04 | 1398140 Tito Gobbilicious C
Tito Gobbilicious C's picture

"I probably loathe most Americans I categorize as violent moronic apes,..."

While I agree that we have a visible proportion of violent moronic ape-like beings (stop vilifying apes, please), it turns out that most of them are in our government and police forces, and therefore the most visible to troglodytes such as yourself. If, perhaps, you were to actually get out of your cave and off of your ass (or is that your face?) and come meet a few of us who (sadly) have to watch as Australian Media Moguls spin violent morons into positions of power, you might come to the conclusion that Americans are, after all, just like the rest of you hominid bipedal constructs - shortsighted, narrow-minded fucks who care nothing for your own children.

It has yet to be shown to me that any of the balance of you fucking twin-brained idiots are any better or any more in touch than are we. It has also not escaped my historical purview that most of you would be under Nazi rule or worse if not for the excess gullibility and compassion that our nation used to exhibit. I strongly suggest that you homo-ferox motherchildren go read a little of Sir Winston Churchill's speeches, get off your asses and start serving molotovs to your own banksters, poli-whores and such...in effect, get the fucking board out of your own eye before you start worrying about the mote in ours.

Fri, 06/24/2011 - 19:10 | 1399958 YHC-FTSE
YHC-FTSE's picture

Not bad! Not particularly good either, but not bad. If you had stayed off the poor old worn propagandised cliche about how we'd all be speaking German, I might even have given you a +1. We all know that the same generation of Americans (your great/grand pappies) happily supplied Hitler for a decade, and profited from the demise of the British empire by seizing her assets for supplying old wrecks and food while we fought the Nazis even as you counted the gold torn from the Jews for 3 yrs. WWII didn't start in 1942, ok? So for the last time, let's stop kidding ourselves about WWII. It's widely accepted now that if it weren't for the Russians, we would ALL probably be speaking German, and if it weren't for you, we would all be speaking Russian, just as if it weren't for us, you would all be speaking French, and ad infinitum. How fucking long are you people going to dine out on bullshit and steal credit from a past generation? Let's grow up shall we? 

 

"get off your asses and start serving molotovs to your own banksters, poli-whores and such"

....Now, what was I saying about violent moronic apes?

Nice effort though. For a deluded halfwit living in a bankrupt military industrial complex, you at least know your msm. 

Thu, 06/23/2011 - 22:18 | 1397315 A Nanny Moose
A Nanny Moose's picture

If this is not sarcasm...

Project much? Only the guilt ridden former sycophant who has followed, and been duped by the fools for so long that he no longer feels, can respond in such a manner.

Live on your knees fool.

Fri, 06/24/2011 - 01:41 | 1397681 Problem Is
Problem Is's picture

I've said it before and I will say it again:

The 9th Rule of Fight Club:
Newbies have to STFU and read their 1st 26 weeks...

Mr. Trolling Wanker 9 weeker...

Thu, 06/23/2011 - 15:05 | 1395940 KennyG09
KennyG09's picture

To those who got all pissy about Ron Paul's announcement a few days ago:

From an email asking for contribution help:

<Snippet after talking about how much Romney has raised and setting a goal for $3million in contributions>

After the June 30th report, every reporter in America will know exactly what the Ron Paul campaign has raised.

Support for my Presidential campaign is growing every day.  You and I have a real chance to strike a blow for Liberty this year.

I think we're doing so well for a very important reason: People look back to my message of 2008, and they see I was right!

I predicted the housing crisis.  I predicted the disastrous actions of the FED and the effects of our incompetent monetary policy.

I clearly and forcefully stated that government spending was going to bankrupt us.  And I argued against trillion dollar foreign occupations.

All of these warnings and predictions have come true.  The American people are coming around to the ideas of sound money, balanced budgets, and a return to a truly conservative foreign policy.

You may have noticed that even the media is paying attention this time, after trying so hard to keep our message hidden last cycle.

That's why I'm hopeful.  I'm hopeful that we are in time to save America, to rebuild our economy, and to hand our children an even better country than the one we inherited.

I believe the time is right to return to the principles embedded in the United States Constitution.

As I like to say, freedom is popular, and now is the time to take action.

If elected, I will work hard to:

***     Stop the spread of socialist, big government health care;
***     Stop the growth of government spending, restrictive regulations, and interference in our lives;
***     Audit the Federal Reserve, which, I believe, will serve as an important first step toward finally ending the Fed once and for all;
***
     Ensure the federal government returns to its constitutional limits by eliminating departments and agencies that are not authorized by the Constitution;
***     Ensure a new, more humble foreign policy for our nation.  We cannot be the world's policeman.  We should not engage in "Nation-Building."  We cannot afford trillion dollar international boondoggles that cost us our lives, our fortunes, and our freedom;
***     Repeal Big Government schemes like the so-called  "PATRIOT" Act.
Of course, that won't be all.  But, as I hope you'll agree, that's a good start.

If you agree the time is right for our message of Liberty, I hope you'll also agree the time is right to help our campaign financially.

Thu, 06/23/2011 - 16:01 | 1396293 DollarMenu
DollarMenu's picture

I donated to R. Paul, but I am afraid that I am just buying Hopium with a different label.

My hope is that he can at least get to the presidential ballot.

Thu, 06/23/2011 - 16:40 | 1396457 bigkahuna
bigkahuna's picture

So did I. It is definately swimming upstream though. Last night I heard Mark Levin disparage Ron Paul and his supporters as just as bad as the socialists. There is some really ugly stuff going around on the MSM. Talking to a lot of people about Paul is like talking to talk radio. All they do is spout back what rush and levin and fox news put out. Our electorate does no research and does no critical thinking. We may be screwed.

Thu, 06/23/2011 - 17:42 | 1396671 High Plains Drifter
High Plains Drifter's picture

all mark Levin ever talks about is poor Israel, boo hoo hoo

Thu, 06/23/2011 - 16:03 | 1396296 tellsometruth
tellsometruth's picture

Booyah bitchez... I heart Ron Paul...he is not perfect but by far the best guy close enough to winning...nice market close btw

Thu, 06/23/2011 - 17:59 | 1396721 malalingua
malalingua's picture

boo and yah... I heart him too.

Thu, 06/23/2011 - 16:06 | 1396332 fockewulf190
fockewulf190's picture

I´ll go for the old standard: Trust but Verify!

Thu, 06/23/2011 - 22:17 | 1397320 A Nanny Moose
A Nanny Moose's picture

+1

Nice name BTW. Got to watch an FW-190 at Reno last year. Good Times.

Thu, 06/23/2011 - 16:26 | 1396392 strannick
strannick's picture

Inventory and Assay Bitchez!

Thu, 06/23/2011 - 19:29 | 1396946 Malachi Constant
Malachi Constant's picture

Nah, you're confusing it with the Fed's motto:

QEss my Assay

Thu, 06/23/2011 - 20:52 | 1397147 Botox4U2
Botox4U2's picture

Domestic Monetary Policy and Technology Subcommittee Chairman Ron Paul has every legal right to show up at the front gate of Fort Knox with a bunch of other legislators and the media and demand entry. He doesn't need to have an audit bill. He should just show up with some accountants and demand entry. is there anyone in the country that outranks him on this and how stupid would they look if the refused him entry. If anyone out there knows the congressman please tell him ...JUST DO IT!

Fri, 06/24/2011 - 01:52 | 1397703 jeff montanye
jeff montanye's picture

he is trying to build a constituency to oppose the most powerful people on earth (or he is pretending to very convincingly).  that takes time and some deft touches.

Thu, 06/23/2011 - 14:31 | 1395783 Ancona
Ancona's picture

Inventory bitchez!

While it will never happen, I applaud Dr. Paul for his tenacity.

Thu, 06/23/2011 - 14:33 | 1395784 djsmps
djsmps's picture

I'd prefer to see him live up to his promise of auditing the Fed.

Thu, 06/23/2011 - 14:40 | 1395804 baby_BLYTHE
baby_BLYTHE's picture

his legislation failed to clear the Senate. It was an historic acomplishment it made it through the House of Representitives with the 200+ co-sponsors it had.

He cannot sign executive orders, he is not the President (yet).

Thu, 06/23/2011 - 15:43 | 1396236 Dr. Richard Head
Dr. Richard Head's picture

I had a great opportunity to lambast Sen. Sanders - those beady little eyes - on his local radio show right after he turncoated that bill in the senate.  I guess the May flash crash  scared Mr. Sanders.  I used to have the recording, but it was ripped off of youtube. 

Good fun.  Of course, the call right after I called him out was from someone asking, "When can I start getting my free healthcare?"  Sigh.....

Thu, 06/23/2011 - 14:37 | 1395806 tmosley
tmosley's picture

He never promised he would get the votes.  He just keeps trying to.

But then, you seem to be a part of the "Ron Paul is a regular lying politician" meme that is going around.  Some people just don't have any sense.

Thu, 06/23/2011 - 14:52 | 1395851 GoinFawr
GoinFawr's picture

I'd bet those are some of the same ones that argued that 'Ralph Nader cost the Democrats the election in 2000'. Ron Paul and Ralph Nader in 2012! (Now wouldn`t that be the Yin-Yangiest administration). At least if there was another deflationary event none of the banks would get bailed out (over and above depositors).

Thu, 06/23/2011 - 15:18 | 1396007 THE DORK OF CORK
THE DORK OF CORK's picture

What makes you think Paul would save the depositors ?

Thu, 06/23/2011 - 15:23 | 1396051 Dr. No
Dr. No's picture

Its an excellent question.  FDIC insured accounts are a direct result of fractional reserve bank runs.  Austrians typically encourage non-fractional reserve and a failure of FDIC could help promote a move to hard money.  Not that I think Paul has the power to make such a move.  FDIC will be the last stand of the Keynsians.

Thu, 06/23/2011 - 17:04 | 1396539 THE DORK OF CORK
THE DORK OF CORK's picture

Well such a action in my opinion could only be justified when you have full deposit banks in operation and not before - there is no point in punishing a indivdual saver for the wild credit creation of bankers.

Thu, 06/23/2011 - 18:41 | 1396822 DosZap
DosZap's picture

Dork Of,

Tell that to the PIIGS......................

Thu, 06/23/2011 - 19:01 | 1396875 THE DORK OF CORK
THE DORK OF CORK's picture

We are very special PIIGS - we can fly to the darkside of the moon if we really want to.

www.youtube.com/watch?v=Xs2X6Egg-ak

 

Fri, 06/24/2011 - 02:22 | 1397723 Transformer
Transformer's picture

Now, I wonder what he meant by that.  Damned Animals.

Thu, 06/23/2011 - 22:24 | 1397327 A Nanny Moose
A Nanny Moose's picture

Regardless. Gravity will only be defied for so long.

Thu, 06/23/2011 - 15:55 | 1396251 GoinFawr
GoinFawr's picture

"Yin-Yang". I can't see Ralph throwing gramma and her life savings under the bus, what makes you think Ron Paul would?

Besides, as noted by the good Dr.No, fractional reserve banking means that the one time cost of protecting depositors at a capped level is far less than throwing infinite FRN's at the insolvent.

Thu, 06/23/2011 - 16:06 | 1396328 DollarMenu
DollarMenu's picture

When Ron Paul last attempted to run for president, I thought that Kucinich

would make a good VP.

The two are aligned on key basic principles and are not afraid to go against the flow in their defense of those principles.

I thought that for 4 years, they could ignore their differences and work together on their areas of common agreement.  

Can't get much done  in 4 years, but getting out of wars, closing down the FedRes, fixing Social Security/Medicare, eliminating TBTF entities - well,

that's a darn full plate, and they are both on the same page in these areas.

Thu, 06/23/2011 - 19:47 | 1396990 TheGoodDoctor
TheGoodDoctor's picture

Considering TPTB are trying to redistric Paul and Kucinich out of their districts this would be a nice "Fuck You" to the establishment. People might actually listen to them and vote for them.

Of course then you could have have Ralph Nader as the Secretary of Commerce and Jesse Ventura as the Secretary of Defense. Now before you laugh at the latter, he was a Navy Seal in Viet Nam and was a state governor. Hell, that is more than some past secretary's of defense have been. Anyway, we can dream some huh?

At least we know they are decent men in this time of a complete and utter lack of leadership pretty much as a whole in this country.

Thu, 06/23/2011 - 14:43 | 1395836 DoChenRollingBearing
DoChenRollingBearing's picture

Audit both!

Thu, 06/23/2011 - 15:08 | 1395958 centerline
centerline's picture

Just making it painfully obvious that the Fed is above the law is a minor victory.  If it even begins to touch the mainstream - which it will on our current course - it is an even bigger victory.  The lack of transparity will at some be the system's Archilles heel.  Yeah - riddle me the usual stuff about some things being in the shadows for our own good...  I get all of that.  But, that works only where there is some degree of balance, particularly on the judicial side of things.  Clearly now, the laws do not apply to the rich and powerful the same as everyone else - and this point is made more clear every day in so many ways.

Fri, 06/24/2011 - 01:56 | 1397710 jeff montanye
jeff montanye's picture

excellent points.

Thu, 06/23/2011 - 14:36 | 1395790 carbonmutant
carbonmutant's picture

Somebody smells blood...

I wonder what they will bribe him with to back off?

Thu, 06/23/2011 - 14:58 | 1395909 drB
drB's picture

They already gerrymandered his district in TX so he would lose the next election. He is the only republican who comes off worse after redistricting. One wonders why.

Thu, 06/23/2011 - 15:03 | 1395916 Cognitive Dissonance
Cognitive Dissonance's picture

The continued well being of his family?

They might make him a (bribe) offer he can't refuse.

Thu, 06/23/2011 - 15:02 | 1395926 Nothing To See Here
Nothing To See Here's picture

If you'd read his books, you'd know that they tried to bribe him long ago and that they now know that he will not be bribed. RP is on a life-long mission, that's all there is to it.

Thu, 06/23/2011 - 15:27 | 1396115 12ToothAssassin
12ToothAssassin's picture

Might be a short mission...

Thu, 06/23/2011 - 15:40 | 1396224 onthesquare
onthesquare's picture

I see a grassy knole and a book repository

Thu, 06/23/2011 - 16:14 | 1396360 Tim White
Tim White's picture

Book depository, but agreed...

Thu, 06/23/2011 - 17:12 | 1396562 ATM
ATM's picture

, but agreed as well

Thu, 06/23/2011 - 18:46 | 1396836 DosZap
DosZap's picture

Grassy knoll...........but agree also.

He finally has credibility, and real believers, now he's dangerous.

Thu, 06/23/2011 - 19:49 | 1397005 TheGoodDoctor
TheGoodDoctor's picture

How about a book suppository? :p

Thu, 06/23/2011 - 16:21 | 1396388 Nothing To See Here
Nothing To See Here's picture

How short is that? RP was on Reagan's gold commission in 1982. He wrote the minority report of the commission (http://mises.org/resources/603/Case-for-Gold-The). We're in 2011 and he's still arguing the case for gold. How long does he have to fight to meet your criteria?

Thu, 06/23/2011 - 16:26 | 1396395 Nothing To See Here
Nothing To See Here's picture

How short is that? RP was on Reagan's gold commission in 1982. He wrote the minority report of the commission (http://mises.org/resources/603/Case-for-Gold-The). We're in 2011 and he's still arguing the case for gold. How long does he have to fight to meet your criteria?

Thu, 06/23/2011 - 16:24 | 1396400 Nothing To See Here
Nothing To See Here's picture

How short is that? RP was on Reagan's gold commission in 1982. He wrote the minority report of the commission (http://mises.org/resources/603/Case-for-Gold-The). We're in 2011 and he's still arguing the case for gold. How long does he have to fight to meet your criteria?

Thu, 06/23/2011 - 16:25 | 1396411 Nothing To See Here
Nothing To See Here's picture

How short is that? RP was on Reagan's gold commission in 1982. He wrote the minority report of the commission (http://mises.org/resources/603/Case-for-Gold-The). We're in 2011 and he's still arguing the case for gold. How long does he have to fight to meet your criteria?

Thu, 06/23/2011 - 20:27 | 1397096 FEDbuster
FEDbuster's picture

No visits to hot tubs for Rep. Paul.

BTW, rumor has it that all the Home Depots, Lowes and Walmarts in a 100 mile radius of Ft. Knox are out of gold metallic spray paint.  Home Depot and Lowes are running low on smooth pavers, too.

Thu, 06/23/2011 - 22:25 | 1397329 Frankie Carbone
Frankie Carbone's picture

They probably promised to keep his granddaughter from having an accident next week. 

When $$ doesn't work, that is the carrot, they bring out the bat. These people have zero morals. 

Thu, 06/23/2011 - 14:54 | 1395795 baby_BLYTHE
baby_BLYTHE's picture

.

Fri, 06/24/2011 - 03:18 | 1395875 GoinFawr
GoinFawr's picture

Thorson (paraphrased): "Here, look at the seals that have been on the pile of swag since 1986... I've got one right here, I just took it off. See how secure this is... you can't just take these things off, you know. I've only been allowed to do it since 1993."

Meh, even if it is/was there, it's only selling for 320billion USMkieDees, not even a quarter of this year's deficit...

Thu, 06/23/2011 - 21:33 | 1397240 baby_BLYTHE
baby_BLYTHE's picture

that's right, burn it off!

Fri, 06/24/2011 - 01:33 | 1397672 GoinFawr
GoinFawr's picture

Didn't you just get that tatoo?

Thu, 06/23/2011 - 14:39 | 1395796 KickIce
KickIce's picture

Since we are dreaming, I would like to see a list of owners as well.

Thu, 06/23/2011 - 14:42 | 1395808 swissaustrian
swissaustrian's picture

Ron Paul went right at the heart of the problem: THE NY FED.

Thu, 06/23/2011 - 14:38 | 1395809 Cassandra Syndrome
Cassandra Syndrome's picture

Goldfinger Bitchez

Thu, 06/23/2011 - 14:38 | 1395810 user2011
user2011's picture

I won't be surprised to see any headline saying " Ron Paul suddenly deceased due to old age and natural causes...".

He is too big of a threat to Fed and Treasury. 

Ron may be too little, too late.

Thu, 06/23/2011 - 14:58 | 1395910 jomama
jomama's picture

the day that man actually makes an impact is the day he 'falls ill'.

Thu, 06/23/2011 - 17:10 | 1396547 Canaduh
Canaduh's picture

Indeed. Ron Paul will never make it past thumb twiddling and navel gazing. That's his purpose.

Thu, 06/23/2011 - 22:49 | 1397381 downwiththebanks
downwiththebanks's picture

Precisely.

Thu, 06/23/2011 - 14:38 | 1395812 speconomist
speconomist's picture

- "It is there (the gold)"

- Muahahaha.

Thu, 06/23/2011 - 14:39 | 1395816 speconomist
speconomist's picture


The hearing which can be watched, but barely heard due to the ongoing insistence of using Made in 1924 USSR microphones can be followed here:

Yeah, and what about all the background noise?

Thu, 06/23/2011 - 14:42 | 1395827 swissaustrian
swissaustrian's picture

HEADPHONES bitchez!

Thu, 06/23/2011 - 14:54 | 1395871 hamurobby
hamurobby's picture

lol, good call, got em on already.

Thu, 06/23/2011 - 14:46 | 1395832 MobBarley
MobBarley's picture

Ron Paul is a freemason, right? ON CUE, AS PLANNED

 

Thu, 06/23/2011 - 15:11 | 1395978 speconomist
speconomist's picture

What is written in the second line?

"I am not a ...?"

Thu, 06/23/2011 - 15:38 | 1396209 crazyjsmith
crazyjsmith's picture

"I am not & never have been a Freemason" 

 

Fri, 06/24/2011 - 06:34 | 1397875 speconomist
speconomist's picture

Thanks, couldn't figure out the "never" part by myself!

Thu, 06/23/2011 - 14:51 | 1395873 TruthInSunshine
TruthInSunshine's picture

Ben Bernanke told me not to trust Ron Paul because Ron Paul is a direct descendant of Mayer Amschel Rothschild.

 

/sarc/

Thu, 06/23/2011 - 15:04 | 1395920 redpill
redpill's picture

Why do the woo-woos have to come out every time Ron Paul is mentioned?

Thu, 06/23/2011 - 15:10 | 1395951 TruthInSunshine
TruthInSunshine's picture

Probably because Ron Paul, warts and all, is the one guy (the one guy) who has turned the microscope on the Federal Reserve and its scheming-corrupt ways, more than any other 'representative' now serving in our illustrious government.

Thu, 06/23/2011 - 17:14 | 1396568 Canaduh
Canaduh's picture

Ron Paul= pressure relief valve

 

Thu, 06/23/2011 - 20:51 | 1397148 CrockettAlmanac.com
CrockettAlmanac.com's picture

Well, that's Truther "truth" and we all know what that means.

Thu, 06/23/2011 - 14:47 | 1395837 fuu
fuu's picture

Get it done Dr. Paul.

Thu, 06/23/2011 - 14:49 | 1395846 DoChenRollingBearing
DoChenRollingBearing's picture

+ $1520 today

+ $50,000 in the future

Thu, 06/23/2011 - 14:44 | 1395840 Gringo Viejo
Gringo Viejo's picture

As someone once said of the city of Oakland, California..........

"there is no there, there"

Thu, 06/23/2011 - 14:49 | 1395843 Joebloinvestor
Joebloinvestor's picture

If they do audit, the reported holdings will be A LOT LOWER because the US LIES and counts the UNMINED gold on Federal land as "in reserve".

That is the BIG one.

Thu, 06/23/2011 - 14:50 | 1395850 Dr. No
Dr. No's picture

I would just add one more thing, "after the amount of gold is audited, in the event of there being physical gold, it shall be minted into 1 oz coins and sold."

Fri, 06/24/2011 - 03:57 | 1397789 Never_Put_Down
Never_Put_Down's picture

And that is exactly what Ron Paul suggests treasury does with the gold resrves, mint coins and sell them back to Americans. The Fed has admitted they have no gold holdings in their portfolio, so it's all up to Timmy

Thu, 06/23/2011 - 14:46 | 1395852 gwar5
gwar5's picture

At least Ron Paul is putting the meme out there and gold back on the minds of Americans.  I particularly like his jabbing reminder:

"Since most of this gold was originally seized from the American people in the 1930s, they deserve more transparency than a handful of financial statements." 

Thu, 06/23/2011 - 19:53 | 1397021 TheGoodDoctor
TheGoodDoctor's picture

Ron Paul is a threat to revisionist history.

Thu, 06/23/2011 - 23:53 | 1397479 Alienated Serf
Alienated Serf's picture

this is truth:  Since most of this gold was originally seized from the American people in the 1930s, they deserve more transparency than a handful of financial statements.

Thu, 06/23/2011 - 14:50 | 1395855 janchup
janchup's picture

Is he kidding that most of 8000 tons of gold was acquired during confiscation in the 1930s? That is amazing. I think these days people wouldn't turn in any gold they had, they'd simply hide it.

Thu, 06/23/2011 - 14:47 | 1395857 Bay of Pigs
Bay of Pigs's picture

Oh a hearing? Now we're getting somewhere. I'm sure those on the "witness list" will tell us the truth.

Please. The time for this passed many years ago....the gold is long gone....sold, leased and swapped out.

Hate to be so cynical and disillusioned but my Depends are full of shit this morning after watching gold and silver get gang banged by the Wall St crime syndicate. .

Thu, 06/23/2011 - 14:59 | 1395893 Gringo Viejo
Gringo Viejo's picture

They can do it until they can't. Eventually the COMEX and LME will be emptied with most physical going to Asia.

Like the song said"It's just a matter of time."

Thu, 06/23/2011 - 15:33 | 1396128 Financial Newbie
Financial Newbie's picture

Asia is prudently buying up stealing all the gold?  How dare they!!!

Sounds like a good pretense for war to me...

Thu, 06/23/2011 - 14:56 | 1395899 jomama
jomama's picture

so what does it matter the amount of bennybux gold and silver is traded for?  

Thu, 06/23/2011 - 15:00 | 1395918 Bay of Pigs
Bay of Pigs's picture

The whole thing makes me sick. It is a farce.

This lying son of a bitch Thorson is a fuckan joke.

Thu, 06/23/2011 - 15:21 | 1395914 aheady
aheady's picture

My thoughts exactly. This is bunch of scripted bullshit like every other hearing.

Thu, 06/23/2011 - 20:59 | 1397157 CrockettAlmanac.com
CrockettAlmanac.com's picture

The world is rotten to the core. Even your Mom says you're ugly. Sigh.

Thu, 06/23/2011 - 14:51 | 1395859 Juice Box
Juice Box's picture

You mean after the excellent security the Fed gave the Iraqi Reconstruction Fund that someone would have the audacity to challenge the accuracy of the Gold inventory?  Incredible!  

 

It only took one week to lose $18 billion in cash, I wonder how long it took to lose all the Gold?

Thu, 06/23/2011 - 17:14 | 1396571 CompassionateFascist
CompassionateFascist's picture

It's not lost. It's in Israel. Where it's "safe".

Thu, 06/23/2011 - 14:53 | 1395860 TruthInSunshine
TruthInSunshine's picture

Is everyone's volume too low even at max settings?

May have to put on my headset at work, bitchez.

Thu, 06/23/2011 - 14:48 | 1395861 Seasmoke
Seasmoke's picture

what a great silent movie

Thu, 06/23/2011 - 14:48 | 1395865 market le pew
market le pew's picture

So, you lot will have 5 digit Gold prices...Congratulations!!!!! But 10k Gold will still not buy you more than a loaf of bread, which is more than 1000000000000000k of Dollars will buy you, but it still won´t make you rich!!!! 

Thu, 06/23/2011 - 14:52 | 1395879 Franken_Stein
Franken_Stein's picture

 

Last time I checked one loaf of bread is around €2,50 here in Germany.

Don't be silly.

 

Thu, 06/23/2011 - 15:31 | 1396144 NotApplicable
NotApplicable's picture

But it's a really, really big loaf.

Thu, 06/23/2011 - 23:06 | 1397399 Prometheus418
Prometheus418's picture

I think not.

But a Mercury dime might be just the thing....  Or maybe a nice war nickel for that loaf of bread.

Thu, 06/23/2011 - 14:56 | 1395885 jowenchrist
jowenchrist's picture

The bitchez will hire Haliburton to do the audit 

Thu, 06/23/2011 - 14:53 | 1395886 silvertrain
silvertrain's picture

All the Gold is in "underground storage"

Thu, 06/23/2011 - 15:03 | 1395912 alien-IQ
alien-IQ's picture

can somebody please provide a reason why the /ES just spiked 12 points in 5 minutes? or did it happen "just because"?

Thu, 06/23/2011 - 15:08 | 1395936 etrader
etrader's picture

Some ones algo just had a fit, not the greece "news" false flag

They'll try  & sell it back to close the spread.

Thu, 06/23/2011 - 15:03 | 1395915 Franken_Stein
Franken_Stein's picture

 

It's getting interesting now.

They're talking about the U.S.'s contribution of gold to the IMF.

 

Thu, 06/23/2011 - 15:04 | 1395919 Dr. Richard Head
Dr. Richard Head's picture

The IMF Swaps.  Fuck yeah.  Now we are getting somewhere. stammer stammer.

Thu, 06/23/2011 - 15:05 | 1395938 Bay of Pigs
Bay of Pigs's picture

"I'm not aware....blah fucking blah...our understanding....blah blah...."

Eric Thorson

Chief of Lying and Stonewalling

Dept US Treasury 

Thu, 06/23/2011 - 15:12 | 1395957 Dr. Richard Head
Dr. Richard Head's picture

not that tis will lead to anythig, but I love to see scumbags backed into a corner and spewing ramblings.  Like me on a monday night drunk bindge.

Thu, 06/23/2011 - 15:16 | 1395986 Bay of Pigs
Bay of Pigs's picture

Thorson doesn't know who owns the US portion of gold pledged to the IMF?

That's interesting...

 

Thu, 06/23/2011 - 19:58 | 1397033 TheGoodDoctor
TheGoodDoctor's picture

Bay of Pigs I understand your frustration but Ron Paul is simply trying to get this on the public record. A. It will help in the future to point out the crooks and liars. B. It helps solidify his run for President to a degree

Thu, 06/23/2011 - 15:17 | 1396028 TheDriver
TheDriver's picture

No kidding. Watch those clenching hands and the stammering.

Thu, 06/23/2011 - 15:29 | 1396127 Dr. Richard Head
Dr. Richard Head's picture

Verbal cues were so definitive that it made Ben look like a pro at lieing.  WAit Benny is.

Thu, 06/23/2011 - 15:05 | 1395922 drB
drB's picture

I think the Powers are hitting back at Paul. Please see http://www.politico.com/news/stories/0611/56171.html

Thu, 06/23/2011 - 15:34 | 1396172 NotApplicable
NotApplicable's picture

This isn't the first time they've tried to gerrymander Dr. Paul out of business.

Thu, 06/23/2011 - 15:02 | 1395924 Dr. Richard Head
Dr. Richard Head's picture

I can say that the gold is there, but I cannot say that it is unencumbered.  FUCKERS

Thu, 06/23/2011 - 15:14 | 1395964 Nothing To See Here
Nothing To See Here's picture

Encumbrance bitchez!

Thu, 06/23/2011 - 15:02 | 1395930 SILVERGEDDON
SILVERGEDDON's picture

Go get 'em Ron - once you take down the Fed, go after the banks and Wall Street. Biggest thieves and criminals the world has ever seen. Break them up, and feed the left overs to the American public that got screwed when the boys in charge flushed the economy down the toilet. While you are at it, make banks carry all homes in default as losses on their books. Maybe they would be more inclined to modify, or foreclose and sell off the asset hanging around their necks instead of playing pretend it is still worth 2007 money. Then, maybe we can get on with our lives, feeding fewer parasites than currently is the fashion. While you are at it, turn politics into a lottery, period. Winning ticket, you are a state rep for a 4 year term, all benefits and salary. Do a good job, you can take on another 4 year term. Fuck up, even once, you go to jail, period, stop at the cell with your new 300 lb fudge packing cellmate! It would make a great game show as well. Monty Hall, calling the shots - "Hey, Mister Nobody, come on down! You are our new Senator for the great state of Kansas!"

Thu, 06/23/2011 - 20:06 | 1397037 TheGoodDoctor
TheGoodDoctor's picture

Now that is good old American entrepreneurship right there! Not only that but he found a way to create "revenue". Amazing. Way to go SILVERGEDDON! Hat tip to you!

Fri, 06/24/2011 - 01:05 | 1397637 J U D G E M E N T
J U D G E M E N T's picture

I love the lottery idea, but every time i think how it would actually

work, I think they will fix the vote somehow..

 

 

Thu, 06/23/2011 - 15:07 | 1395931 Franken_Stein
Franken_Stein's picture

 

The guy behind Hon. Thorson on the left looks like Dick Cheney 30 years ago.

 

Thu, 06/23/2011 - 20:45 | 1397124 Freewheelin Franklin
Freewheelin Franklin's picture

Fuck me. I just knew that bastard had a time machine.

Thu, 06/23/2011 - 21:03 | 1397167 CrockettAlmanac.com
CrockettAlmanac.com's picture

More grist for the mill: Cheney has no pulse. Look it up!

Thu, 06/23/2011 - 15:08 | 1395934 Clampit
Clampit's picture

"... most of this gold was originally seized from the American people in the 1930s"

Holy shit, most?(!) I thought very little could be scrounged up from those forgetful citizens. "Honey, there's a nice man from the government at the door - you don't remember us purchasing any gold do you?"

Thu, 06/23/2011 - 15:13 | 1395996 Nothing To See Here
Nothing To See Here's picture

How about :

"Sir, this is Tom at your local branch. This is to inform you that a Blue Eagle government representative came at our offices yesterday, holding a mandate regarding our safe deposit boxes. If you could take a minute off tomorrow, we'd appreciate if you could come by so that we could explain a couple of new developments about your business here. Best."

Thu, 06/23/2011 - 15:44 | 1396216 Clampit
Clampit's picture

Well, citizens then did have about 2 decades to form an opinion on the trustworthiness of banks ... c'est la vie. 

Thu, 06/23/2011 - 16:40 | 1396444 seek
seek's picture

This is true, but the mechanism is different than you think. Very few people turned in gold they had, but remember both the US Treasury and the banks themselves had gold on deposit that backed the gold certificates in circulation. This is the gold that was taken en mass.Basically when we switched from gold-back to fiat, they kept the gold that belonged to everyone holding dollars. We did this twice, once to ordinary citizens holding USD, during the depression, and the second time to countries when Nixon closed the gold window.

The situation isn't all that unlike that of fraudulent MBS. You have a note (be it a gold-backed dollar or a mortgage note) you accept as being valuable due to its backing/collateral -- then someone swoops in, takes the collateral, and tries to convince you the note itself has value. What's fraud for one is fraud for the other.

Thu, 06/23/2011 - 15:04 | 1395935 speconomist
speconomist's picture

Who else is questioning (for lack of a better word) altogether with Ron Paul?

Thu, 06/23/2011 - 15:13 | 1395962 speconomist
speconomist's picture

I think I can read Luetkemeyer in case anyone is interested.

Thu, 06/23/2011 - 15:10 | 1395946 sdmjake
sdmjake's picture

yep--and another bill this week to decriminalize Acapulco Gold at the federal level. Do it, RP!

Thu, 06/23/2011 - 15:16 | 1395984 ihedgemyhedges
ihedgemyhedges's picture

did u say something?????  I got distracted.......

Thu, 06/23/2011 - 15:46 | 1396253 Dr. Richard Head
Dr. Richard Head's picture

I think it was something about hot pants or ass cheeks.

Fri, 06/24/2011 - 03:18 | 1397740 GoinFawr
GoinFawr's picture

Assay reports?

Thu, 06/23/2011 - 15:14 | 1395968 PaperBear
PaperBear's picture

I consider it insanity to have centralised the gold and pieces of paper circulating as currency rather than having it distributed among the populace.

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