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As a general rule, the most successful man in life
is the man who has the best information
“14 Carrot Rabbit” is an animated cartoon featuring Bugs Bunny and
Yosemite Sam.
The story
begins with an old man named Louie successfully gold panning on his claim. Chilkoot Sam (Yosemite Sam) of nasty reputation and
carrying a gun, scares Louie away and claims his
gold.
Chilkoot Sam gets ten bucks for the
gold from Pierre at the “Next To Last Chance Saloon.”
Sam is
extremely unhappy to receive only $10 for ‘his’ gold. However
something happens right in the middle of his violent tirade that makes him
forget about his poor payday - Bugs Bunny staggers in with a huge gold nugget
he trades for a few measly carrots.
After Bugs
takes his leave, Sam asks Pierre where the carrot cruncher got his gold. All
Pierre can tell him is that the bunny gets a ‘funny feeling’ when
he's near gold.
Executive Order 6102
On April 5, 1933, President Roosevelt signed Executive Order 6102 making the hoarding of gold certificates, coins and
bullion illegal by American citizens, forcing them to sell their gold to the Federal
Reserve. The value of the gold held by the Federal Reserve increased from $4 billion
to $12 billion between 1933 and 1937.
“On March 6, 1933, Executive Order (EO) 6073 was
passed by Franklin Delano Roosevelt (FDR), the 32nd President of the United
States in an attempt to solve the dire banking crisis. Executive orders have
been around since 1789, allowing Presidents to issue legally binding orders
unilaterally, without the consent of Congress. During his Presidential
tenure, from 1933 to 1945, Roosevelt would issue 3,728 Executive Orders. This
was his third and it was a doozy.
Just two days
after Roosevelt was inaugurated as President, he proclaimed a “banking
holiday”. From and including Monday, March 6, 1933 to Thursday, March
9, 1933 no bank “would pay out, export, earmark, or permit the
withdrawal or transfer in any manner or by any device whatsoever of any gold
or silver coin or bullion or take any other action which might facilitate the
hoarding thereof…” Sold to the American people as an attempt to
control speculation and regulate interest rates, he closed America’s
banks, thwarting customers from withdrawing their paper money holdings or
converting their holdings to gold.” Kal Kotecha, juniorgoldreport.com
United States
Bullion Depository
In 1936,
the U.S. Treasury Department began construction of the United States Bullion
Depository at Fort Knox, Kentucky.
Today the
fortress is guarded by the U.S. Mint Police and protected by layers of
physical security; alarms, video cameras, mine fields, barbed razor wire, a bombproof roof, poison-gas booby traps, an
emergency flooding system and electric fences.
The
Depository premises are within Fort Knox, a United States Army post. A total
of 30,000 soldiers with their associated tanks, armored personnel carriers,
attack helicopters, and artillery are all stationed nearby.
Below the fortress lies the gold vault lined with
granite walls and protected by a blast-proof door weighing 22 tons. No one person knows the complete combinations
required to unlock the vault, members of the Depository staff must dial separate
combinations known only to them.
The fortress includes a
separate emergency power plant, water system, and other necessary facilities.
The Depository is under the supervision of the US Treasury
Department's Director of the Mint. It’s
a classified facility and access is restricted. For security reasons no visitors are allowed inside
the depository grounds - a Presidential order
is required to gain access.
The Unites States government says:
“The United States Bullion Depository holds 4,578 metric tons (5,046.3
short tons) of gold bullion (147.2 million oz. troy).”
Chris Weber, author of “The Great American
Disaster: How Much Gold Remains In Fort Knox?” says:
“The only audit that has ever been done of the gold inside Ft Knox
was done days after Dwight Eisenhower became President in January of 1953.
After 20 years of Democratic presidents, the American public wanted to be
sure that the gold confiscated from them was still there. Thus, the new
President ordered an audit within hours after taking office.
The central problem was that it wasn't much of an
audit. To sum it up:
- Representatives of the audited group were
allowed to make the rules governing the audit. No outside private
experts were allowed.
- Those government bureaucrats involved
were inexperienced in their tasks, by their own admission.
- The entire audit of the largest gold
hoard ever concentrated in history lasted only seven days.
- Only a fraction of the gold was actually
tested. Later, the officials put this fraction at just 5%.
- Based on that fraction, the official
committee reported that, in their opinion, all the holdings would have
matched their records if they'd all been tested.
- If the audit was accurate, the fact
remains that almost 80% of it went overseas in the coming years. If the
audit was not accurate, the amount of gold lost could have been even
more.
The US Mint
reported its Schedule of Custodial Deep Storage Gold and
Silver Reserves as of September 30, 2010 and 2009.
Gold Reserve Transparency Act of 2011
The truth is that annual reviews of the facility are conducted by the Office of the
Inspector General of the Treasury. Eric M. Thorson, inspector general of the
Department of Treasury, is the first outsider to be granted full access to
the U.S. Bullion Depository and he is responsible for keeping track of the
U.S. Mint's deep storage gold and silver reserves.
Thorson insists the gold reserves exist and in exactly the amounts
reported.
Status Report of U.S. Treasury-Owned Gold
Department of
the Treasury Financial Management Service November 30th, 2012
Deep Storage: Deep-Storage gold is the portion of
the U.S. government-owned Gold Bullion Reserve that the U.S. Mint secures in
sealed vaults, which are examined annually by the Department of Treasury's
Office of the Inspector General. Deep-Storage gold comprises the vast
majority of the Reserve and consists primarily of gold bars. This portion was
formerly called "Bullion Reserve" or "Custodial Gold Bullion
Reserve."
Working Stock: Working-Stock gold is the portion of
the U.S. government-owned Gold Bullion Reserve that the U.S. Mint uses as the
raw material for minting congressionally authorized coins. Working-Stock gold
comprises only about one percent of the Reserve and consists of bars, blanks,
unsold coins, and condemned coins. This portion was formerly listed as
individual coins and blanks or called "PEF Gold."
Conclusion
In the
cartoon “14 Carrot Rabbit” Bugs Bunny gets a ‘funny
feeling’ when he's near gold. I suspect if Bugs got near Ft. Knox today
he’d get that funny feeling again - like he did in 1952 when the
cartoon was released - and more.
Perhaps,
for a New Year’s resolution we should all have on our radar screens the
truth in regards to the many conspiracy theories floating around the internet
in regards to gold. The truth is certainly on mine, is it on yours?
If not,
maybe it should be.
Richard (Rick) Mills
rick@aheadoftheherd.com
www.aheadoftheherd.com
Richard is the owner of Aheadoftheherd.com and
invests in the junior resource/bio-tech sectors. His articles have been
published on over 400 websites, including:
WallStreetJournal, SafeHaven, MarketOracle, USAToday, NationalPost, Stockhouse, Lewrockwell, Pinnacledigest, UraniumMiner, Beforeitsnews, SeekingAlpha, MontrealGazette, CaseyResearch, 24hgold, VancouverSun,
CBSnews, SilverBearCafe, Infomine, HuffingtonPost, Mineweb, 321Gold, Kitco,
Gold-Eagle, The Gold/Energy Reports, Wealthwire, CalgaryHerald, ResourceInvestor,
Mining.com, Forbes, FNArena, Uraniumseek,
FinancialSense, Goldseek,
Dallasnews, SGTReport, Vantagewire, Resourceclips, Indiatimes, ninemsn, ibtimes, jsmineset and the Association of Mining Analysts.
If you're interested in learning more about
the junior resource and bio-med sectors, and quality individual
company’s within these sectors, please come and visit us at www.aheadoftheherd.com
***
Legal Notice / Disclaimer
This document is not and should not be
construed as an offer to sell or the solicitation of an offer to purchase or
subscribe for any investment.
Richard Mills has based this document on
information obtained from sources he believes to be
reliable but which has not been independently verified.
Richard Mills makes no guarantee,
representation or warranty and accepts no responsibility or liability as to
its accuracy or completeness. Expressions of opinion are those of Richard
Mills only and are subject to change without notice. Richard Mills assumes no
warranty, liability or guarantee for the current relevance, correctness or
completeness of any information provided within this Report and will not be
held liable for the consequence of reliance upon any opinion or statement
contained herein or any omission.
Furthermore, I, Richard Mills, assume no
liability for any direct or indirect loss or damage or, in particular, for
lost profit, which you may incur as a result of the use and existence of the
information provided within this Report.
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