Senator Rand Paul said in his letter to Treasury Secretary Bessent, "According to the Department, Fort Knox holds 147.3 million ounces of gold." LOL... yea right! Does anybody truly believe this???
Based on 2024 U.S. gold production of 6.4 million oz it would take 23 years of U.S. gold production to replace it.
U.S. gold production has been rapidly declining in recent years... so in reality based on current trends it may take 30 years to replace the gold held at Fort Knox.
This is why the Beatty Gold District of Nevada is so important. Without these 22.64 million ounces of gold resources going into production... we are screwed!
If there is a shortage of gold at Fort Knox it would likely send gold up to $4,000-$5,000 per oz within months. The majority of the gold projects containing these 22.64 million ounces of gold resources aren't yet ready for construction. Only Augusta Gold (TSX: G)'s Reward Gold Project is ready for immediate construction. Augusta Gold (TSX: G)'s Bullfrog Gold Project combined with AngloGold Ashanti (AU)'s North Bullfrog Gold Project will be the district's second gold project to be constructed into a producing gold mine!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA's President has purchased 224,200 shares of G and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.
Preparing Americans for Hyperinflation
