Ron Paul’s opening statement. Much more inside.
Rep. Leutkemeyer questions The Honorable Eric M. Thorson Inspector General, Department of the Treasury, regarding gold holdings pledged to the IMF.
Rep. Paul questions The Honorable Eric M. Thorson Inspector General, Department of the Treasury, regarding gold holdings pledged to the IMF.
Link to full hearing:
Are the gold bars in Fort Knox really made of the precious metal? Or has the government secretly sold off the stockpile and replaced it with tungsten bars that are painted gold?
Ron Paul wants to find out.
Giving legitimacy to aconspiracy theory that the gold in Fort Knox is fake, the iconoclast Republican congressman from Texas has asked adminstration officials to audit the purity of the nation’s 700,000 gold bars held in Fort Knox, according to an internal Treasury document obtained by CNBC. Paul, a presidential candidate who chairs the House subcommittee on Domestic Monetary Policy, had previously called for the U.S. gold reserve to be counted and for a return to the gold standard. He now appears to be going a step further in his request that representatives from the U.S. Treasury Department and the U.S. Mint testify at a subcommittee hearing on June 23 about the authenticity of the nation’s gold.
As a postscript to the story, CNBC asked for a tour of Fort Knox to film the gold, since our only footage of Fort Knox is from 1974. An official at the Mint told us that not he was not aware that any member of Congress had toured the facility since that year. Fort Knox is “a closed facility,” the official said.
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