Some fishy is going on…
I have a controversial opinion that is going to disappoint gold bugs:
There is going to be enough gold in Fort Knox to pass an audit.
Something is happening in the gold market. As this news article in the WSJ reported
Gold is, for the moment, worth substantially more in Manhattan than in the U.K. capital, sparking the biggest trans-Atlantic movement of physical bars in years. Traders at major banks are racing to yank gold from vaults deep below London’s medieval streets and from Swiss gold refineries and ferry them across the ocean.
While the article is right about reporting the fact that gold bars are being frantically moved from London to New York, I think it is wrong about its cause. That article blamed tariffs for the cause. I think this reason is a red herring.
I suspect the real reason is the upcoming audit on Fort Knox’s gold.
Think about it. This upcoming audit is a highly telegraphed intention by DOGE and Trump. Normally, if you want to catch shenanigans, you will want to conduct a SURPRISE audit. But this audit is hardly a surprise. It is the most talked about topic by all the gold bugs on the Internet.
Also, the fact that physical gold is being moved frantically from London to New York before chatter about the audit spread on the Internet probably indicates one thing: vested interests know about the upcoming audit before the gold bugs did.
What I think will happen: The upcoming audit will reveal that there is enough gold in Fort Knox.
There is something else very suspicious. Fort Knox is not the only place where the US’s gold reserves are stored. There are numerous other sites where gold is stored. Why is there an obsession with Fort Knox?
An alternative possibility if I am wrong?
A gold audit will be much more credible if DOGE suddenly conducts a SURPRISEaudit on gold storage sites OTHER than Fort Knox. Right now, vested interests will be frantically stocking up Fort Knox. All attention is on Fort Knox.
If the DOGE audit team shows up unannounced on other gold sites, then there is a chance that they will catch shenanigans.
If not, I think an audit on Fort Knox is going to be a non-event.