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Fort Knox

  • Writer: Mr Void
    Mr Void
  • Nov 18, 2019
  • 1 min read

It doesn't really matter how much gold is in Fort Knox.

The value of the US dollar is not related to or backed up by gold anymore.


In 1971 Nixon cancelled the direct convertibility of the US dollar to gold. The value of the US dollar is set by the market. It is not backed up by gold. It's a total free float. The same holds true for gold; it's value is market dependent.

When conspiracy enthusiasts froth over at news of a transfer of several tons of gold from the US to another country they don't realize the value of that gold equals mere minutes of California's GDP.

It doesn't matter.

The conspiracy theory hasn't been applicable since 1971.


 
 
 

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