Wonder where the "TEA PARTY" is going to stand on this?

[dphindawg]

Yeah right. Next thing you'll be saying is that you can actually lose money investing in real estate.

I could see some of the evils from the housing crash show up in the gold commodity trade. If I were going to buy gold I would want it in some type of physical form like coins or bullion bricks. The problem will arise when investors start wanting actual product for their contracts. The extremes that companies are going through to get gold from the public reminds me of the loan originating tactics that led to the crash and defaults. Just my opinion though.

[GrassyNoleHitman]

http://news.yahoo.com/alabama-still-...095645624.html

several things...this is a STATE park, not a national park.
If Alabama wants to fund this that is their right.
If this were in my state, i would be upset and looking to get that funding stopped.

[hookdown]

Forget the land, start selling the gold at Ft. Knox before the price goes down!!!

Even if we sold every ounce in Fort Knox at current prices it still would not make much of a dent in the federal deficit. There are 147.2 million troy oz. there. At $1600 an once, that is just a bit over 235.5 billion dollars. While that would certainly fund the end zone project, that does not help much with a 10 trillion dollar deficit.



http://en.wikipedia.org/wiki/United_...ion_Depository

[ddgravy]

Even if we sold every ounce in Fort Knox at current prices it still would not make much of a dent in the federal deficit. There are 147.2 million troy oz. there. At $1600 an once, that is just a bit over 235.5 billion dollars. While that would certainly fund the end zone project, that does not help much with a 10 trillion dollar deficit.



http://en.wikipedia.org/wiki/United_...ion_Depository

Another salty hairbrain scheme shot down

[JuBru]

Even if we sold every ounce in Fort Knox at current prices it still would not make much of a dent in the federal deficit. There are 147.2 million troy oz. there. At $1600 an once, that is just a bit over 235.5 billion dollars. While that would certainly fund the end zone project, that does not help much with a 10 trillion dollar deficit.



http://en.wikipedia.org/wiki/United_...ion_Depository

Stuff like this always make me wonder what would happen if the US and other nations went back to a gold or a bimetallic standard.

[Dirtydawg]

several things...this is a STATE park, not a national park.
If Alabama wants to fund this that is their right.
If this were in my state, i would be upset and looking to get that funding stopped.

Thank You, Thank You, Thank You. I told my wife today that this article really pissed me off. This is no one's business except the people of Alabama, yet you've got a reporter who probably doesn't even know how to get there writing this story to get the retards across the country fired up. I'm glad the black legislators are going to try to remedy this situation, but if they don't it's none of my damned business. Furthermore, what an indictment on their ability as government representatives when they don't even know where the state is getting their money and where it's going.

[saltydawg]

Another salty hairbrain scheme shot down

Actually, ddg, the government should trade the metal since it (1) has so much of it and (2) doesn't have to pay any taxes. The USA could probably make $50 billion a year and end up with even more gold when prices go down.

[JuBru]

Actually, ddg, the government should trade the metal since it (1) has so much of it and (2) doesn't have to pay any taxes. The USA could probably make $50 billion a year and end up with even more gold when prices go down.

Would have to make $50 billion per day for a year (365 days) to balance things out. The US doesn't have that much to sell.

[saltydawg]

Would have to make $50 billion per day for a year (365 days) to balance things out. The US doesn't have that much to sell.

The key word is trade, not sell. Should also start trading the SPR and any other commodity that Uncle Same owns. Anyway, spending cuts and increasing revenues is what we need to balance the budget. $50 billion here, $50 billlion there, and soon you are talking about some serious money.

[T_Won]

The key word is trade, not sell. Should also start trading the SPR and any other commodity that Uncle Same owns. Anyway, spending cuts and increasing revenues is what we need to balance the budget. $50 billion here, $50 billlion there, and soon you are talking about some serious money.

Serious spending cuts? Medicare, SS, etc... ?

[saltydawg]

Serious spending cuts? Medicare, SS, etc... ?

Everything except the IRS.

[T_Won]

Everything except the IRS.

Do you like Paul Ryan's plan for Medicare?

[DocMarvin362]

Forget the land, start selling the gold at Ft. Knox before the price goes down!!!

So.... sell raw materials.... for an inflated dollar?!?!? Have nothing to back our money?!?!?


Oh my!!

[T_Won]

So.... sell raw materials.... for an inflated dollar?!?!? Have nothing to back our money?!?!?


Oh my!!

Nothing backs our money.

[ddgravy]

What money? All we have got is a printing press and a 14 trillion dollar hole!