What the Fort Knox Audit could do to Gold and BTC?

For anyone interested in gold or bitcoin we are certainly in a very exciting time.
As for gold it is a valuable asset sought after by people all around the world. the lure for holding and owning gold has survived centuries, generations and outlived civilizations.

When we look for what is happening with Gold the talk invariably moves to the gold held by America at fort Knox.
going by the records there is supposed to be 8100 tons of gold held by the USA.
Out of this gold 50% or about 4850 tons of gold is held at Fort Knox. It is one of the most guarded places on the planet with high tech state of the art security and tech being deployed there to keep all that gold secure.
This much gold makes USA as a country holding the largest piles of gold. However there is a catch to this belief of ownership.
The catch is that a full audit was done as far back as 1953.
In 1974 and 2017 some checks were done however there was no complete audit done.
This means that it is a fair mathematical possiblilty about the speculations doing the rounds that the gold could be missing.
This is prompting the possibility of an audit to confirm the presence of physical gold at Fort Knox.

What if there is no gold

There are a number of possibilities here

• there could be less gold as is being mentioned in the records.
• Alternately the gold could be impure
• A part of the god could be missing
  If this were to be the case the US economy could go into a tizzy.
  There would be financial chaos and it could also impact the position of the US Dollar, the currency a lot of the world uses to do trade.
  The way the US economy moves shapes the global economy so any such development could have a bearing on the global economy.

What if all the gold is in place?

If this were to be the case then it would bring a new confidence in the US economy.
A point to be noted is that the US economy has been evaluating the value of the gold held by it at a valuation of $42 per ounce of gold as was the price at the time of the last audit.
Interestingly the gold pricing is in the vicinity of $2900 so this could mean an upward revaluation for all this gold.
This would clearly mean the US economy would get a boost of a trillion dollars due to the revaluation of its gold reserves.
This would not only be a feel good factor but also increase the support for the economy and its currency.

Bracing for the worst case scenario

In case the gold is missing then there could be a frenzy to buy gold and this could take the price of gold a lot higher.
This could also mean that there is a possibility to make Bitcoin a strategic digital asset. If USA starts using BTC as a digital store of value the world would follow.
In such a case we could see both gold and BTC appreciating in value.
Either way it is going to be a turning point for the world and the way it sees gold and BTC.

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Posted Using INLEO