Letters to the Editor

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DEBT: What about the gold at Fort Knox?

Letter by Gary E. Lanphere, Fox Island on June 29, 2011 at 4:34 pm | 30 Comments »
June 29, 2011 4:34 pm

I am really confused about the fact that the government has more than 147 million ounces of gold stored in the depository at Fort Knox, Ky., and yet we have to borrow zillions of dollars to pay our bills.

I don’t know for sure, as I am not a mathematician, but I do believe that would amount to a pretty good chunk of change. Why can’t some of that not be used to help pay off some of our debts instead of having to borrow. Why is all of this gold being stored if it never going to be used? Why is the gold never mentioned as an asset that we have.

If anyone has an answer to any of my questions, please feel free to help me out.

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