(Money Metals News Service) Money Metals Midweek Memo host Mike Maharrey opened this week’s episode with an old-fashioned banking analogy: Imagine somebody repeatedly claiming to have $100,000 in the bank but refusing to produce a statement or even balance the checkbook. The money might be there, but without verification, skepticism would be reasonable.
That, Maharrey argued, is essentially the situation with America’s gold reserves. He suspects the gold at Fort Knox probably is there. But “probably” isn’t the same as an independent, comprehensive audit.
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