Representative Ron Paul says Fort Knox gold needs to be audited as well as at the Fed in New York. He plans on introducing legislation next year that would force an audit of all US gold holdings, and to be honest that might not be a bad idea. Paul said that he believes it’s at least a possibility that there isn’t any gold at all in the vaults. It is, after all, the federal government we’re talking about here.
Paul said it’s necessary to know just how much gold we have in reserves in case the government were to do something smart like put the dollar back on the gold standard. In that case it’s rather unlikely that that would happen. Either way, we should know exactly what we have.
Ron Paul, who has been criticized often for his Libertarian views on everything else, has been very solid when it comes to monetary and economic policy. He believes that Americans should, if nothing else, be allowed to use gold and silver in everyday commerce.
Paul said that if the government, which abandoned the gold standard in 1972, won’t resort back; citizens should be allowed to use gold and silver alongside a weakening dollar. It’s unsure if Ron Paul’s Fort Knox gold audit legislation talk is a threat or if he intends to actually push it next year when a probable Republican Congress would likely pass such a measure.