The widespread loss of confidence that is currently taking place does not have many benefits. It would be much better if important institutions were trustworthy, competent, and efficiently managed. But to fix them, we first need to recognize the problems.
People who spent all their time marginalizing gold fanatics as crazy and conspiracy theorists are now finding themselves on the sidelines.
Suddenly, it makes sense for large segments of Americans to question whether long-held assumptions are true. It is the people who implicitly trust what bureaucrats and bankers have told them who look a little foolish.
The veil is being lifted. Investors in gold and silver should be prepared for some interesting revelations and, perhaps, changes in the metals markets.
They should also be wary of “experts” who still cling to conventional wisdom. Now is the time to ask questions, not to blindly trust.
The following assumptions are absurd. Those who defend them are, at best, naive, or perhaps have some interest in preserving the status quo.
SILLY ASSUMPTION #1: There are no problems with decades-old audits of US gold reserves, including the bars at Fort Knox, and it is unreasonable to ask for a new audit that also examines liens.
The best reason to conduct a comprehensive audit of US gold is that bureaucrats desperately want to avoid it and resist all efforts to conduct a new inventory and analysis of each and every bar.
There are three possibilities regarding US gold reserves. The worst possibility is that some of the gold is missing.