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IPFS News Link • Gold and Silver

Should America Sell Fort Knox's Gold? Is Ron Paul a Kook?

• Time magazine
Should the U.S. sell off its gold reserves to pay down debt? That's the latest idea being tossed around by gold bug Ron Paul. Not only would selling Old Yeller help the U.S. pay its bills, says libertarian Paul, but it would put more gold in the hands of the American people and pull back the reins on the Federal Reserve, which is printing money like mad and debasing the value of our currency. So insistent is Paul about this strategy that he challenged the government to a gold audit to make sure its stash of bullion at Fort Knox is really all there. (According to the Treasury's inspector general, it is.) So is selling it a good strategy, or is Paul just a crazy kook?

1 Comments in Response to

Comment by PureTrust
Entered on:

SELL the GOLD????

Instead, shut down the FED, coin the gold in current $1 denominations (if it takes sewing a slender thread of it into a cloth-paper dollar bill), and spread it among the people.