GM. Let me see if I got this right. Gold is rallying because the government wants to check if there is still gold in Fort Knox. Isn’t the fact that they don’t know a problem? I guess the market thinks this is bullish for gold? So if there is gold in Fort Knox, I’m guessing gold would rip higher. But if there is no gold there then it would confirm what everyone already suspects and gold would tank? But regardless of what the outcome is, the nation is still in 36 trillion of debt and money printers can’t stop. In other words, bitcoin fire sale. HFSP GFY 🤷♂️
Discussion
I've been saying just that ever since the news started talking about "extended waiting times" to claim gold from bullion banks right around the time gold started pumping. Nobody has the gold to cover their liabilities. Not fort knox, not the bullion banks, not any other bank.
Yeah, the gold price movement seems odd to me too. The only thing I can come up with is that those who issue paper certificates “backed” by gold in Fort Knox in essence now have a short gold position (if in fact there’s no real gold sitting in there) and are now scrambling to take custody of physical gold, causing a bit of a short squeeze.
Didn’t even consider the possibility that the gold is fake lmao what a shitshow
