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Ft. Knox Full Of Impure Gold Unfit For International Transactions
Ft. Knox Full Of Impure Gold Unfit For International Transactions
Authored by Jp Cortez via The Mises Institute,
The bulk of the US gold reserves held in Fort Knox are made up of impure “non-standard” bars that don’t qualify for use in international settlements.
In practice, this means that most of America’s massive gold stockpile is illiquid and wouldn’t be readily accepted on the international market should the need arise:
“It’s a decrepit relic just like our monetary policy is. With respect to America’s gold stockpile, we hold ourselves to a lower...
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