Mark Leibovit of VRtrader.com on Gold

The United States has the largest gold supply in the world, estimated to about 261 million ounces, unless there is another huge fraud being perpetuated on the American public at Fort Knox. I have gone out on the limb in the absolute belief the United States will return to the Gold standard which was abandoned back in 1971 by then President, Richard M. Nixon. If the United States allows the Gold price to rise (or drives it higher) and then pegs the US Dollar to an inflated Gold price, a great deal is accomplished. The ever-growing United States debt now has collateral. The national debt would now be on its way to being balanced. If the national debt is 10 trillion dollars and Gold is trading at $10,000 an ounce, the United States now has 2.6 trillion dollars in Gold or roughly a 25% backing. My belief is that the size of the United States Gold reserve is much greater than reported and what the United States doesn’t have it can easily confiscate either by demanding redemption of Gold from private holdings, or by creating a new North American currency (the rumored ‘Amero’) which would then include very valuable mineral resources of Canada and Mexico. Though the latter event currently appears very unlikely, the former could easily occur.

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My Comments: I don't buy the assumption that the Govt. has more gold than they say. I would venture a "guess" that they indeed have less. Since gold inventories aren't audited we don't really know but the fact that they aren't and should be creates reasonable doubt. Enough doubt question how much gold the U.S. has and where did it all go? My guess is that its been sold into the market to keep prices low. But only price pays not opinions.