UPDATE - Petition now has over 6,000 signatures.
Of course, until we audit the Fed, all claims of fortressed gold are just heresay.
"The closest thing to a real audit was last performed in 1953, but even that one had major problems. First, there were no independent outside parties involved, and second, only 5% of the gold was tested for purity."
For the nearly 60 years since then, the reserves have been held under tight control by a group of men closely connected to the Wall St. banks. Zero oversight by the American people or their elected representatives has been permitted. Last year, as part of their coverage of Ron Paul’s inquiry into the gold reserves, CNBC was denied the opportunity to even film any of the gold in Fort Knox. They were told that it was a “closed facility.” One staff member even said that he was not aware of any member of congress having toured the facility since 1974.
According to a treasury document, a full audit of the gold would take 30 minutes per bar for a total of 350,000 man hours, or 400 men working for 6 months. Total cost would be $15 million. Sounds like a bargain.
That is stimulus spending we can agree with.
Status Report of U.S. Treasury-Owned Gold
Eric M. Thorson, inspector general of the Department of Treasury, is the first outsider to be granted full access to the U.S. Bullion Depository and he is responsible for keeping track of the U.S. Mint's deep storage gold and silver reserves. Thorson insists the gold reserves exist and in exactly the amounts reported.
Department of the Treasury Financial Management Service November 30, 2012.
Deep Storage: Deep-Storage gold is the portion of the U.S. government-owned Gold Bullion Reserve that the U.S. Mint secures in sealed vaults, which are examined annually by the Department of Treasury's Office of the Inspector General. Deep-Storage gold comprises the vast majority of the Reserve and consists primarily of gold bars. This portion was formerly called "Bullion Reserve" or "Custodial Gold Bullion Reserve."
Working Stock: Working-Stock gold is the portion of the U.S. government-owned Gold Bullion Reserve that the U.S. Mint uses as the raw material for minting congressionally authorized coins. Working-Stock gold comprises only about one percent of the Reserve and consists of bars, blanks, unsold coins, and condemned coins. This portion was formerly listed as individual coins and blanks or called "PEF Gold."
Driving past the Fort Knox Bullion Depository in Kentucky:
Fort Knox is visible at the 1:10 mark.