The Gold Issue

Ok so the gold issue has been mentioned in a couple threads. I've reposted a portion of one of my posts here, so that hopefully we can discuss and discover a little bit. I'm a huge supporter of LC2E, but if there is one thing that I believe got the short-stick on research, it would be the gold.

How much gold is there in the world? How much gold, and what is it worth? Current Gold Price 10-year gold price

The US gold reserve fits into a town house:
·287.1 million ounces @ 292$/ounce (sept, 2001 price) = $83.8 billion.
·287.1 million ounces @ 564$/ounce (march, 2006 price) = $161.9 billion.

The world's total financial reserve of gold (central banks + significant global financial institutions like International Monetary Fund and Bank for International Settlements):
·1,058 million ounces @ 292$/ounce (sept, 2001) = $308.9 billion
·1,058 million ounces @ 564$/ounce (march, 2006) = $596.7 billion

All the gold in the world - A block with edges 3 metres short of a standard sized tennis court:
·4,938 million ounces @ 292$/ounce (sept, 2001) = $1,441.9 billion
·4,938 million ounces @ 564$/ounce (march, 2006) = $2,785.0 billion

So my point is that it would seem unlikely that there was an enormous amount of gold stored at WTC. It wouldnt leave much for the fed reserve nor Fort Knox, or any other gold storage facility. Beyond that, the value in 2001 of all the financial gold in the world was $308 billion. For the number stated in Loose Change ($167 billion) to be correct, that would mean 54% of the entire global reserve had been stolen. I don't think that could happen without causing radical consequences, but I may be wrong.

However, this article is extremely interesting, from July, 2001. It discusses vanishing gold and policy changes in the months leading up to september 11th.

I agree with the likely massive gold overstatement.

What is the sourcing for the $167 billion gold claim spoken of in the movie and elsewhere? I'm afraid that this may be an exaggeration that is easily disproved.

It's important that subsequent editions of the film be relatively free of those sort of attractive-on-surface charges like "4000 jews were told not to show up for work" == since it gives your critics ammunition and an excuse to ignore the other parts of the film.

LC2e could find a source to back up the assertion, or rectify.

In regards to the FGMR article, I just had a scary thought: Enron.

Enron kept itself propped up by trading around and inflating, copying, and misrepresenting an artificial value- power values. They literally traded in the speculative value of electricity supply, and manipulated the power grid to artificially maintain a constantly rising value out of proportion to any real economic value.

What if there is a similiar shuffle going on, either nationally or internationally, with gold reserves? These gold transfers are to keep an illusion of additional gold to provide a basis for maintaining the value of the dollar even in the event of a catastrophic foreign exchange collapse that could result from the US defaulting on payments of the national debt.


That sure is a thought to keep you awake at night. With a gun under the pillow.

But another matter: in a catastrophic economic collapse, gold might become the only valid and accepted currency (much as in days of old). And he who has the gold.....

Ah yes the old trusty "follow the money". If anyone can find out how much was at the other places (Fed, West Point, Ft.Knox) maybe we can work backwards to see how much was at WTC. We need to know how much was in the WTC and how much was recovered.

Here is the basics on gold from the US Geological Survey website
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Kilograms Item
--------- -----
30,000,000 The world's total financial reserve of gold (central banks + significant global financial institutions like International Monetary Fund and Bank for International Settlements)

100,000,000 The approximate total of all privately held jewellery, bullion and coin

140,000,000 All the known gold in the world - A block with edges 3 metres short of a standard sized tennis court.


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And here is an interesting twist:

In the Cheuvreux Gold Report (http://www.gata.org/CheuvreuxGoldReport.pdf):

"Central banks have 10-15k tonnes of gold less than their officially reported reserves of 31k."

If we take 15,000 tonnes of gold that is about 13 billion ounces, 10,000 would be about 9 billion ounces out.

On September 10th, 2001 gold was at $270.00 per ounce so if 160 billion $$ worth was "destroyed" or went "missing" that would be just over 10,000 tonnes of gold.

So the central banks try to keep gold prices down for more than 10 years by selling it while still keeping it on their books as being in their possesion. Prices start to rise and they have to cover their massive market manipulation. Suddenly 10k tonnes of gold is recirculated. Won't bring the price down but it will cover their short positions.

Just a thought. Like I said at the top we need to figure out how much gold was really at the WTC vs how much was recovered. Like everything else in this mess it will be hard to do but it can be done.