A great scene in the James Bond film “Goldfinger” is the dawn raid on
Ft. Knox where Goldfinger and his Chinese henchmen break into the
vaults and attempt to set off a nuclear explosion.
Fast forward to today. Chinese is the larger holder of Federal debt
outside of the US ($1.16 trillion), while Japan holds $1.13 trillion.
The Federal Reserve, of course, is the largest holder of the Federal
debt overall.
Ft. Knox in Kentucky allegedly holds 147,200,000 ounces of gold
bullion. At today’s price of $1,655.80 per ounce, a raid on Ft. Knox
would yield $243,733,760,000.00 (or $243 billion). Or just about one
quarter of the amount we owe China.
Stated differently, the entire gold reserve in Ft. Knox is not quite
25% of the current Federal budget deficit FOR ONE YEAR! THAT is how big
of a problem government spending has become.
Of course, I don’t recommend that Goldfinger, the Chinese or Japanese
raid Ft. Knox. But it might make for a tempting target for Democrats
and Harry Reid trying to raise even more money to spend.
Is it my imagination or has Harry Reid gained a lot of weight since re-election?
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