In the past, crooks, corrupt political leaders and money
launderers stashed their ill gotten gains in Swiss Banks to prevent
seizures, thinking that it is the safest place. Later on, the Mafias and
gangsters from USA also did the same. Then the USA Government,
realising the loophole for tax evasion, forced the Swiss Banks, using
heavy handed measures, to get them to disclose all those USA crooks
having accounts in Swiss Banks. That ended the Swiss fairy tale of the
Swiss Banking System. A win win situation for the USA Tax Department and
the too big to fail banks.
As for the gold deposited in Fort
Knox, no one could vouch for its existence today. The USA Government
would not even allow an independent audit of the physical gold, called
for by many depositors, so you just have to put two and two together.
The fact that many people believe Fort Knox is empty, tells us that
there cannot be smoke without a fire.
It realistically is daft,
even stupid for countries to keep their gold in the USA, when it would
have been safer to keep them in a vault at home, where you can have
access to it at any time, and without harbouring the fear of it being
seized or confiscated at the whims and fancies of the USA. Now, even
asking for return of their gold is not without problem, because the real
problem is there may not be any gold left to be returned. All they may
get is paper gold represented by gold certificates to represent their
holdings. Take it or leave it, because there is nothing you can do.
China,
Russia and others are keeping their gold in their own vaults, safe,
sound and worry free. And there is nothing the USA can do to get hold of
them to hold China or other countries as hostage.
Anonymous
3 comments:
That tells us how really stupid most leaders are getting conned by the USA to put their gold inside its vaults at Fort Knox.
Even juveniles and old uncles and aunties will tell you that only what is in their pockets can be considered theirs. They are not going to put their money in some other people's pockets and say the money is theirs, right? Or put it this way, buying top of the range fighter planes and leaving them in the hands of the seller is not a wise move either. Are they really yours?
If even leaders have that 'stupidity has no cure' disease, please spare the grassroots for being so.
Those who put their gold in Fort Knox, under the USA 'Rules Based Order' the reality will be defined as:
What is mine is mine. What is yours is now also mine.
That is now under their new rules, under their order and also under their interpretation.
The fact that the USA already threatened to seize China's treasury holdings during the COVID19 outbreak, tells us what they will do when desperate. The only reason preventing the USA seizing China's treasuries then was that if they did that, every other holder with a bit of sense will dump their treasuries and run for cover. That would be catastrophic going forward for the USA.
There is no guarantee that this will not happen. When the USA has no way out, losing it US$ hegemony, or credibility in its Treasury Ponzi scheme, and it is a survival question, it will be desperate enough to do that. What is maintaining the trust is that the big holders have not really dispose en masse their holdings yet. Japan is still doing the yo-yo thing, selling and then buying, under duress probably.
By the way, China has reduced its USA Treasury holdings further to US$821.8 billion in July.
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