President Trump should open Fort Knox gold vaults

(June 21, 2017 - by Dave Harper)

Do you believe all of the gold that is supposed to be at the Fort Knox bullion depository is there?

Now would be a good time to ask President Donald Trump to open the vaults to the public as was done in 1974 when Gerald Ford was President.

Can you imagine the publicity this would generate?

Cable news would be giving us a countdown days before it happened.

Economists would pontificate about the significance of gold in the world economy today.

Pundits would speculate about the impact of the gold either being there or not being there.

The drama would be riveting.

Social media would be almost overloaded with anticipation.

Who better to be present as the vault doors swing open than the President himself?

He knows the value of good publicity.

It would be huge.

Since it has been 43 years since there was a public inspection of the gold at Fort Knox, it is about time.

A cottage industry has formed since then around the possibility that the gold is somehow missing or owned by others.

Who better than the President to put these rumors to rest?

But what would the impact be on the market for gold and silver bullion?

I think it would be positive no matter what the outcome of the inspection.

No gold would spur bullion investors to buy more because it is scarcer than many market participants think.

If all gold is accounted for, it would re-emphasize the fact that the major nations of the world still hold gold in great importance.

Otherwise, why do they have such massive holdings?

Ask China, Germany or Russia.

This is a win-win for everybody involved.

It was a big deal.

It would be an even bigger deal in 2017, especially if the President makes it happen.

Therefore, the President should be asked to settle the question of gold at Fort Knox.