WEBVTT - All the Gold In Fort Knox: Meh

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<v Speaker 1>Welcome to Stuff You Should Know, a production of five

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<v Speaker 1>Heart Radios How Stuff Works. Hey, and welcome to the podcast.

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<v Speaker 1>I'm Josh Clark, and there's Charles W Chuck Bryant and

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<v Speaker 1>Jerry's out there somewhere, and this is Stuff you should Know.

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<v Speaker 1>Carrot plated Gold Edition gold plated didn't know what happens?

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<v Speaker 1>Like if you put a bunch of gold together, it

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<v Speaker 1>means more carrots, I think. So I'm afraid to doubt you, though,

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<v Speaker 1>because I had a movie crushers say that. I'm all

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<v Speaker 1>I do lately is say you're wrong? Do you What

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<v Speaker 1>do they mean lately? I know, I don't know. He

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<v Speaker 1>must be a newcomer to the podcast. Slightly distressing, says,

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<v Speaker 1>Josh's is all the time lately. Josh makes really good points,

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<v Speaker 1>and all Chuck does his poopa it by just saying no,

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<v Speaker 1>you're wrong. It's like, does that even happen once? If

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<v Speaker 1>it may, I'm sure it's happened more than once. But

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<v Speaker 1>if it makes you feeling better, I haven't noticed, and

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<v Speaker 1>that's what really counts, don't you think? Yeah, I guess,

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<v Speaker 1>although there are like a million plus people listening, so

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<v Speaker 1>I guess their opinions count as well. Oh, man, you

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<v Speaker 1>know it's funny, is I didn't even see that coming chuck. Yeah,

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<v Speaker 1>that was good, good stuff. And I almost just said

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<v Speaker 1>the s wort, that was good stuff. You're wrong, it

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<v Speaker 1>was mediocre. Let's just do this Fortes. Yeah, no, let's

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<v Speaker 1>do a real podcast episode. This, uh, this is interesting.

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<v Speaker 1>All I could think about was heist movies. Oh really,

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<v Speaker 1>I don't know what I thought about. I think I

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<v Speaker 1>was kind of stuck in the thirties. I just thought

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<v Speaker 1>of everything is kind of old timey and quaint because

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<v Speaker 1>it's kind of in a way where the story really

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<v Speaker 1>kicks off the story of Fort Knox. In case anybody's

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<v Speaker 1>listening and didn't check the title, Oh, I thought we

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<v Speaker 1>were doing an episode on the United States Bullion Depository, Buddy.

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<v Speaker 1>That is the same exact thing in a lot of ways.

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<v Speaker 1>But actually they're different too. Let's talk about this, right. So,

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<v Speaker 1>But for anybody who is outside of the United States,

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<v Speaker 1>and I would wager that a lot of you, I'd

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<v Speaker 1>wager all the Golden Fort Knox that a lot of

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<v Speaker 1>you are very familiar with Fort Knox, because it does

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<v Speaker 1>seem to be kind of like this world famous place

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<v Speaker 1>where the United States hoards its gold and it's just

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<v Speaker 1>totally impenetrable, so don't even try. Um. But there's also

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<v Speaker 1>like a lot of conspiracy theories too that there's no

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<v Speaker 1>gold in there, and we'll talk about all this and

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<v Speaker 1>why there's golden there too, But I feel like we

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<v Speaker 1>should at least give like a background on Fort Knox

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<v Speaker 1>and the ins and outs of it, don't you. Yeah.

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<v Speaker 1>In nineteen o three, this is where it all started. Um,

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<v Speaker 1>the U. S Army said, you know what, I think

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<v Speaker 1>we need some training ground out here in Kentucky, in

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<v Speaker 1>West Point, Kentucky. And everybody said, why, Yeah, I don't

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<v Speaker 1>know good at places any I guess, and use that

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<v Speaker 1>area they got, Um, they got a few counties to

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<v Speaker 1>kindly hand them over some land, and they use that

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<v Speaker 1>area for training and stuff. Made it a permanent training

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<v Speaker 1>camp in nineteen eighteen and then named it after Henry Knox,

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<v Speaker 1>a Revolutionary War officer, as Camp Knox. And someone very

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<v Speaker 1>quickly said, that doesn't sound at all tough. It sounds

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<v Speaker 1>like children belong here and people roasting smores about Fort Knox.

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<v Speaker 1>It sounds like all the best forts started out as camps. Yeah,

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<v Speaker 1>So they said Shure in Ny two, it became officially

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<v Speaker 1>Fort Canucks right, nice one. Um. So yeah, so it

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<v Speaker 1>started out as a legit army base. Um. But then

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<v Speaker 1>eventually in the thirties, which is why I've been stuck

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<v Speaker 1>in the thirties because so much of the story takes

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<v Speaker 1>place there. Um, the United States Mint said, hey, we

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<v Speaker 1>could use a new spot to store some gold, because

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<v Speaker 1>we got a lot of gold. I this isn't even

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<v Speaker 1>all of it, but we need a new spot to

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<v Speaker 1>store some gold. And they actually took possession of part

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<v Speaker 1>of Fort Knox um and built what's known as, like

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<v Speaker 1>you said, the United States bully On Depository. Um, they're

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<v Speaker 1>in Kentucky and it is legitimately Fort Knox is now

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<v Speaker 1>not just the army camp. Even more famously, it is

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<v Speaker 1>really what you officially would call the United States Bullyon Depository. Yeah.

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<v Speaker 1>And the camp is still there, and some say it

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<v Speaker 1>is Um there is sort of a means of maybe

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<v Speaker 1>intimidation maybe back up, like hey, there's an army camp

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<v Speaker 1>right next door. But they you know, also asked to

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<v Speaker 1>borrow that name because it sounded tougher than the Bullion Depository,

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<v Speaker 1>and they said, sure, you can go ahead and just

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<v Speaker 1>call that building Fort Knox as well, and that's where

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<v Speaker 1>we moved um, well, not all of it, but we

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<v Speaker 1>had a lot of gold at the time, as you

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<v Speaker 1>were saying, and it was, um it was a little unnerving,

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<v Speaker 1>I think, to have most of the gold and the

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<v Speaker 1>country stored in Philadelphia, the ment there and in New

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<v Speaker 1>York because it was so close to the coast, and

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<v Speaker 1>if some warring nation wanted to invade us and grab

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<v Speaker 1>our gold, then they wouldn't have far to go to

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<v Speaker 1>get it onto a boat. Yeah, truly, which is you know,

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<v Speaker 1>pretty sensible, really, and I never really thought about that.

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<v Speaker 1>But New York is not very far from water, and

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<v Speaker 1>neither as Philly, so why not. So they decided to

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<v Speaker 1>move um as much as they could. And there was

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<v Speaker 1>silver moved too. There's a lot of stockpiles of silver

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<v Speaker 1>that we're not even gonna bother within this story because

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<v Speaker 1>silver we're talking gold here, and they moved a lot

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<v Speaker 1>of it to Denver, and they very quickly said, well,

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<v Speaker 1>the Denver met's a great place because it's protected from

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<v Speaker 1>the from the Pacific Ocean by the rocky mountains, which

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<v Speaker 1>would make that makes it much more difficult for an

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<v Speaker 1>invading army. To come in from the Pacific and steal it.

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<v Speaker 1>But we're we've run out of space and we need

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<v Speaker 1>some some more space for all the spillover gold. And

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<v Speaker 1>that's when they decided to build a Fort Knox, which

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<v Speaker 1>in Kentucky is protected from the Atlantic Ocean by the

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<v Speaker 1>Appalachian Mountains. So it's pretty pretty clever. Why they why

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<v Speaker 1>they chose Fort Knox. Yeah. So the Treasury, like you said,

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<v Speaker 1>took control of that land in thirty six and then

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<v Speaker 1>in thirty seven, and they, I mean they started building

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<v Speaker 1>you know there. You know, they couldn't just keep it

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<v Speaker 1>intense even though those intimidating Appalachian Mountains were right there.

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<v Speaker 1>They're like, we need a building here. So they built

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<v Speaker 1>a building over um just a few months. Cost about

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<v Speaker 1>it impressive, Yeah, UM cost about a half a million bucks.

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<v Speaker 1>In the nine seven they said we're open for business, Um,

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<v Speaker 1>bring that gold from New York City. They did, and

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<v Speaker 1>they they did it the way, exactly the way that

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<v Speaker 1>you would think they would do it. They had um

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<v Speaker 1>a lot of um. They had a secret location where

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<v Speaker 1>they were loading it. They sent a bunch of trains

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<v Speaker 1>out um that were decoys, UM. And it didn't all

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<v Speaker 1>happen at once. It wasn't one ship mint that made

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<v Speaker 1>its way from New York and Philadelphia over to U Kentucky.

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<v Speaker 1>It would have been in the movie, I think exactly. Yeah,

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<v Speaker 1>But um it happened like actually in in many shipments

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<v Speaker 1>over several years. But supposedly they did it like sometimes

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<v Speaker 1>darkness of nights and there was decoys, um. And they

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<v Speaker 1>were always protected by a number of groups from the

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<v Speaker 1>post Office um uh, inspectors that are licensed to carry guns.

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<v Speaker 1>Which would I hate to say it, everybody, but that's

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<v Speaker 1>the one that you would try to hijack if you

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<v Speaker 1>were going to hijack like yeah right, um yes, chuck

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<v Speaker 1>all the way to the army, you know, which I

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<v Speaker 1>would I would probably not try to hijack that one.

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<v Speaker 1>If I were going to hijack one, which I wouldn't do,

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<v Speaker 1>it would probably be the postal inspector one. Yeah. And

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<v Speaker 1>you know, I'm sure that they've someone has written a

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<v Speaker 1>movie treatment at some point for a nine seven try

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<v Speaker 1>on the Way to Fort Knox heist type of thing, right,

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<v Speaker 1>and they surely would have cast those poor post office

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<v Speaker 1>gun slingers. Is the the likely train that's poor guys?

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<v Speaker 1>Um So we've got the gold shown up at Fort Knox.

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<v Speaker 1>And the thing is is like this was like people

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<v Speaker 1>knew about this. It wasn't done in secret, Like this

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<v Speaker 1>was this is known about UM And I think I

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<v Speaker 1>get the impression that the reason that it was talked

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<v Speaker 1>about and discussed, and they were like little tidbits here

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<v Speaker 1>there in the in the um, in the popular media,

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<v Speaker 1>um to give this idea like Okay, yes we're moving

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<v Speaker 1>this gold, but like, don't even try it, Like here's

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<v Speaker 1>just enough that you need to know to not even

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<v Speaker 1>come anywhere near this place. And over the years, little

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<v Speaker 1>tidbits have kind of been released here there that give

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<v Speaker 1>a pretty complete picture of what you would be dealing

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<v Speaker 1>with if you did, in fact try to uh impregnate

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<v Speaker 1>for Knox. Oh pretty sexy. So uh, first of all,

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<v Speaker 1>you can't just take a tour. I mean you can

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<v Speaker 1>tour almost anything in this country except for Fort Knox.

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<v Speaker 1>Even if you're sitting congress person, the chances are you're

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<v Speaker 1>probably not going to get a tour. Yeah, I mean,

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<v Speaker 1>if ed is correct here who helped us put this together,

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<v Speaker 1>there have only been three official tours, Is that right? Yeah,

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<v Speaker 1>that's what I saw. So there's there was one from

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<v Speaker 1>FDR himself, which is pretty understandable. UM. There was one

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<v Speaker 1>in the seventies, which we'll talk about, UM, which made sense,

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<v Speaker 1>but it was a congressional delegation. And then I think

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<v Speaker 1>in two thousands seventeen, Stephen Minusian and a delegation toured it.

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<v Speaker 1>So there's at least three, but those are the three

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<v Speaker 1>that we know about. There may have been more, but

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<v Speaker 1>I would think they would kind of publicize that because

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<v Speaker 1>the whole point of being a delegate to tour Fort

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<v Speaker 1>Knox is to basically reassure the public there's there's a

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<v Speaker 1>lot of golden there. Don't even more about it. Yes,

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<v Speaker 1>the gold's there. That's pretty much the reason why anybody

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<v Speaker 1>gets a tour of Fort Knox. I wonder if they

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<v Speaker 1>let FDR in just to say, hey, you might as

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<v Speaker 1>well just urinate on this golden person, because that's what

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<v Speaker 1>you're about to do with policy. That's that's probably what happened.

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<v Speaker 1>We'll get to that later with the gold standard. Uh.

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<v Speaker 1>And of course you didn't urinate on it. Even with policy,

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<v Speaker 1>you don't know. You can't ever tell what that FDR.

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<v Speaker 1>So here's a bunch of things, and this this next

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<v Speaker 1>bit is going to be just sort of a lot

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<v Speaker 1>of the facts and figures that we know and we've

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<v Speaker 1>gleaned over the years. Some comes from official releases, some

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<v Speaker 1>comes from an old nineteen thirties issue of Popular Mechanics,

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<v Speaker 1>which is kind of cool. Uh, but should we take

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<v Speaker 1>a break first? Oh? Sure, man, Yeah, I think that's

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<v Speaker 1>a great cliffhanger. All right, great, we'll be right back. Alrighty,

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<v Speaker 1>So we promised you stats and figures about Fort Knox

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<v Speaker 1>and issues of Popular Mechanics. I know, how's this for you?

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<v Speaker 1>The vault requires, of course, multiple people to open it up,

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<v Speaker 1>and each person nobody knows the entire combination. Each person

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<v Speaker 1>it knows only a part of it. And even if

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<v Speaker 1>you got it open, there's a one d hour time

0:11:46.520 --> 0:11:49.679
<v Speaker 1>delay locks, so you gotta wait. If you have them

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<v Speaker 1>at gunpoint and you all force and you force them

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<v Speaker 1>all to open it, you gotta sit around and wait

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<v Speaker 1>for four days, no matter what. That's my favorite one.

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<v Speaker 1>It's pretty great. Mm hmm. That in the fact that

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<v Speaker 1>it's really just artificial intelligence from the future is the

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<v Speaker 1>only one that has the entire combination in its possession.

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<v Speaker 1>What else, Um, well, let's see, they're the the vault

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<v Speaker 1>itself is actually inside a building. So you remember in

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<v Speaker 1>our Alcatraz episode where the cell Blox where buildings inside

0:12:17.480 --> 0:12:21.719
<v Speaker 1>of the larger prison building. That's exactly the same thing,

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<v Speaker 1>and not coincidentally they're built around the same time. UM,

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<v Speaker 1>So I think there was that kind of you know,

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<v Speaker 1>impenetrable building within an impenetrable building in the Zeitgeist kind

0:12:32.760 --> 0:12:35.920
<v Speaker 1>of thing going on. Um. And the only way, the

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<v Speaker 1>only place the vault and that building are connected is

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<v Speaker 1>on the floor. But don't even think of coming up

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<v Speaker 1>from under the floor because, um, the flooring is two

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<v Speaker 1>ft thick of granite um, which you are not going

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<v Speaker 1>to get through even if you successfully dug under. And

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<v Speaker 1>I'll just go ahead and tell you why you would

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<v Speaker 1>not be able to successfully dig under the building from

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<v Speaker 1>the outside is because you have barrier after barrier after

0:12:58.880 --> 0:13:02.400
<v Speaker 1>fence after razor I are separating you from the building.

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<v Speaker 1>There's a huge blank field around the building, so it's

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<v Speaker 1>not very easy to kind of walk up to it.

0:13:09.320 --> 0:13:14.280
<v Speaker 1>And they apparently have said that the field around the

0:13:14.320 --> 0:13:18.160
<v Speaker 1>building is a mine field, which means that they apparently

0:13:18.200 --> 0:13:24.000
<v Speaker 1>studied cartoons to design Fort Knock, which I love. You're

0:13:24.000 --> 0:13:28.240
<v Speaker 1>like what would while e coyote do exactly? Um, yeah,

0:13:28.280 --> 0:13:30.840
<v Speaker 1>it is, I mean it's it's it's definitely worth googling

0:13:31.040 --> 0:13:34.720
<v Speaker 1>a uh like an aerial image of this building. It's

0:13:34.760 --> 0:13:37.520
<v Speaker 1>it's pretty interesting. I mean it it does. It sits

0:13:37.520 --> 0:13:40.520
<v Speaker 1>out in the middle of nothing, uh, in this big

0:13:40.559 --> 0:13:44.800
<v Speaker 1>flat area, and there's like a circular driveway around it.

0:13:45.760 --> 0:13:48.360
<v Speaker 1>And you know, it's made of what you think it's

0:13:48.400 --> 0:13:52.760
<v Speaker 1>made of, which is granite and concrete and steel. They

0:13:52.760 --> 0:13:56.280
<v Speaker 1>said that the walls are also two feet in thickness,

0:13:56.320 --> 0:14:00.559
<v Speaker 1>and inside those walls are fabricated steel hills that are

0:14:00.600 --> 0:14:04.120
<v Speaker 1>so closely smushed together that they say a human hand

0:14:04.559 --> 0:14:07.959
<v Speaker 1>can't even get between them. Right. Uh, So you need

0:14:08.000 --> 0:14:11.040
<v Speaker 1>a baby or a child. You need a baby hand.

0:14:11.880 --> 0:14:13.640
<v Speaker 1>So you got to bring a baby. You have to

0:14:13.679 --> 0:14:16.439
<v Speaker 1>bring diapers and food to last the baby four days

0:14:16.520 --> 0:14:19.280
<v Speaker 1>until the time lock. Yeah. Of course, don't forget a

0:14:19.280 --> 0:14:22.520
<v Speaker 1>gun to hold people off with. Ye and probably some

0:14:22.560 --> 0:14:24.600
<v Speaker 1>people you don't like to send through the minefield the

0:14:24.640 --> 0:14:26.480
<v Speaker 1>clear path for you. Yeah, and you've got to get

0:14:26.480 --> 0:14:28.520
<v Speaker 1>one of those diaper genies to put the diaper in,

0:14:28.560 --> 0:14:31.200
<v Speaker 1>otherwise it's gonna smell in there. Oh man, it would

0:14:31.240 --> 0:14:34.280
<v Speaker 1>smell so bad in that little building. Uh here's another

0:14:34.320 --> 0:14:37.280
<v Speaker 1>cool thing. Well, the whole the whole building isn't huge.

0:14:37.360 --> 0:14:40.440
<v Speaker 1>I mean it's it's not small. It's ten thousand square feet,

0:14:40.480 --> 0:14:42.640
<v Speaker 1>but it's not I don't know. You think of Fort

0:14:42.720 --> 0:14:45.680
<v Speaker 1>Knox and you think of, um, something the size of

0:14:45.720 --> 0:14:50.080
<v Speaker 1>like a maximum security prison or something like that. Um,

0:14:50.080 --> 0:14:54.560
<v Speaker 1>it's not huge. But um the building inside the building,

0:14:54.600 --> 0:14:58.840
<v Speaker 1>so the vault inside has an eighteen inch space clear

0:14:58.960 --> 0:15:02.160
<v Speaker 1>on every side and have all these mirrors everywhere. And

0:15:02.200 --> 0:15:05.040
<v Speaker 1>of course now they have real cameras. I guess this

0:15:05.160 --> 0:15:09.520
<v Speaker 1>was from the popular mechanics pre camera. You just use

0:15:09.560 --> 0:15:11.520
<v Speaker 1>mirrors to make sure that you could see every square

0:15:11.520 --> 0:15:14.640
<v Speaker 1>inch of this thing. Yeah. So if you did somehow

0:15:14.680 --> 0:15:17.520
<v Speaker 1>manage to get inside the vault, the people who whose

0:15:17.600 --> 0:15:20.520
<v Speaker 1>job it is is to watch the vault would see

0:15:20.520 --> 0:15:26.120
<v Speaker 1>you immediately and they post yeah yeah. They would just start,

0:15:26.440 --> 0:15:30.200
<v Speaker 1>you know, lobbying dead letter office packages at you until

0:15:30.280 --> 0:15:33.640
<v Speaker 1>you got annoyed and left. And of course there's heavy artillery.

0:15:33.680 --> 0:15:39.600
<v Speaker 1>There are um four corner machine gun turrets essentially on

0:15:39.680 --> 0:15:44.000
<v Speaker 1>the outer building. Looking so, I'm sorry, I was confused.

0:15:44.040 --> 0:15:46.280
<v Speaker 1>Is that on the outer building or is that part

0:15:46.280 --> 0:15:51.400
<v Speaker 1>of the vault. I think that's outside. Okay, I don't know.

0:15:51.480 --> 0:15:53.760
<v Speaker 1>I couldn't quite tell. I didn't and I didn't see

0:15:53.800 --> 0:15:56.360
<v Speaker 1>it outside. Did you see him outside? Well, I mean

0:15:56.400 --> 0:15:58.840
<v Speaker 1>I saw, I mean I didn't see any really close ups.

0:15:58.840 --> 0:16:01.480
<v Speaker 1>Everything was kind of an area all and I did

0:16:01.480 --> 0:16:05.760
<v Speaker 1>see what looked like corner turrets, but maybe they are inside. Okay.

0:16:05.880 --> 0:16:07.640
<v Speaker 1>I don't know if I'd be shooting up machine guns

0:16:07.680 --> 0:16:11.400
<v Speaker 1>inside a granite room. Yeah, that's actually probably a pretty

0:16:11.400 --> 0:16:14.400
<v Speaker 1>bad idea. I I mean, I've seen wildly condy too.

0:16:14.400 --> 0:16:18.000
<v Speaker 1>Those bullets bounced all over the place, that's right. Um,

0:16:18.120 --> 0:16:20.240
<v Speaker 1>So you've also got a door to contend with. So

0:16:20.240 --> 0:16:22.840
<v Speaker 1>so so far, you've got two ft thick everything to

0:16:22.920 --> 0:16:26.440
<v Speaker 1>get through. Um, which means that your best bet is

0:16:26.480 --> 0:16:29.480
<v Speaker 1>to go through the door because rather than twenty four inches,

0:16:29.600 --> 0:16:33.040
<v Speaker 1>it's only twenty one inches thick. But you should probably

0:16:33.040 --> 0:16:35.600
<v Speaker 1>be dissuaded by the fact that it's blast, drill and

0:16:35.760 --> 0:16:39.800
<v Speaker 1>torch proof, said the US Mint director from back in

0:16:39.800 --> 0:16:43.560
<v Speaker 1>two thousand and sixteen, Philip Deal. Yeah, and again this

0:16:43.640 --> 0:16:47.720
<v Speaker 1>is all under the banner of don't even think about it, buddy. Right, Um,

0:16:47.760 --> 0:16:51.480
<v Speaker 1>between the uh, there's a corridor that encircles the vault

0:16:51.880 --> 0:16:53.400
<v Speaker 1>and then the outer wall of the building. They do

0:16:53.480 --> 0:16:56.920
<v Speaker 1>have some offices. I guess that's where Dottie the secretary

0:16:56.960 --> 0:17:01.479
<v Speaker 1>has been since nineteen fifties something, or Danny or Danny,

0:17:01.520 --> 0:17:04.080
<v Speaker 1>that's true. I don't think they gave jobs like that

0:17:04.119 --> 0:17:06.919
<v Speaker 1>to Danny in the nineteen fifties. Okay, maybe not in

0:17:06.960 --> 0:17:08.919
<v Speaker 1>the fifties. That's fine. But I got called out for

0:17:09.000 --> 0:17:11.720
<v Speaker 1>letting that Stooges comment pass, and I'm not gonna I'm

0:17:11.760 --> 0:17:13.960
<v Speaker 1>not going on the grill again for you, pal what

0:17:14.000 --> 0:17:18.120
<v Speaker 1>that ladies don't like the Three Stooges. We got not one,

0:17:18.520 --> 0:17:22.359
<v Speaker 1>not two, but thrice emails about that, and most of

0:17:22.359 --> 0:17:25.480
<v Speaker 1>them were not happy. Well, actually two of the three

0:17:25.480 --> 0:17:28.000
<v Speaker 1>were very fun about it and said that they love

0:17:28.080 --> 0:17:30.840
<v Speaker 1>the Three Stooges. But yes, but they weren't happy. One

0:17:30.880 --> 0:17:32.680
<v Speaker 1>I couldn't tell. And I even wrote her back and

0:17:32.720 --> 0:17:35.280
<v Speaker 1>I was like, I can't tell if you're really mad. Well,

0:17:35.480 --> 0:17:39.520
<v Speaker 1>and I said, but I said, I was just if

0:17:39.520 --> 0:17:42.800
<v Speaker 1>you google women don't like Three Stooges. It's a it's

0:17:42.800 --> 0:17:45.000
<v Speaker 1>a trope. I mean, it's a familiar trope. I wasn't

0:17:45.080 --> 0:17:48.439
<v Speaker 1>like inventing some sexist thing. I was just kind of

0:17:48.560 --> 0:17:51.760
<v Speaker 1>funding around with it. Yeah, it's like everybody not liking

0:17:51.800 --> 0:17:55.720
<v Speaker 1>Detroit or Kentucky like Google that right, or Google women

0:17:55.760 --> 0:17:59.560
<v Speaker 1>don't like Rush the band. Hey, hey, hey, let's just

0:18:00.200 --> 0:18:03.359
<v Speaker 1>let's bail out of this while we still have our limb. No,

0:18:03.520 --> 0:18:05.399
<v Speaker 1>people can likelyly like. But trust me, have been to

0:18:05.440 --> 0:18:07.879
<v Speaker 1>a Rush concert and there was there was a lot

0:18:07.920 --> 0:18:11.119
<v Speaker 1>of masculinity in that room. What year was that, because

0:18:11.760 --> 0:18:14.240
<v Speaker 1>I'll bet I was at the same concert depending I

0:18:14.320 --> 0:18:18.840
<v Speaker 1>went to it must have been eight or eighty nine. No, No,

0:18:19.000 --> 0:18:22.760
<v Speaker 1>I wasn't not that one. This would have been It

0:18:22.760 --> 0:18:28.240
<v Speaker 1>would be like, m we just missed each other. Yeah,

0:18:28.480 --> 0:18:30.000
<v Speaker 1>just by a few years. Had I just hung out

0:18:30.000 --> 0:18:31.960
<v Speaker 1>at the Omni for three or four more years or

0:18:32.040 --> 0:18:35.159
<v Speaker 1>had you, we would have passed each But you're right, women,

0:18:35.240 --> 0:18:37.200
<v Speaker 1>like all sorts of things have been like all sorts

0:18:37.200 --> 0:18:40.040
<v Speaker 1>of things, that's right. And Danny and Dottie can both

0:18:40.080 --> 0:18:42.360
<v Speaker 1>be secretary, that's right. And we don't even call him

0:18:42.359 --> 0:18:45.640
<v Speaker 1>secretaries anymore, Chuck, we should just stop podcasting all together.

0:18:47.040 --> 0:18:50.080
<v Speaker 1>We have aged out of it. So to me, the

0:18:50.160 --> 0:18:56.160
<v Speaker 1>only way in would be, uh, the escape tunnel, yes,

0:18:56.240 --> 0:18:59.360
<v Speaker 1>which they thought of that they realized that they actually

0:18:59.400 --> 0:19:02.520
<v Speaker 1>put a tunnel underground that you could use to get

0:19:02.600 --> 0:19:07.760
<v Speaker 1>into the UM, the depository, the actual vault UM, which

0:19:07.800 --> 0:19:10.720
<v Speaker 1>they installed in case somebody got locked in there, which

0:19:10.760 --> 0:19:14.719
<v Speaker 1>I'm really surprised they even installed that um or design

0:19:14.840 --> 0:19:16.399
<v Speaker 1>that in there. I would think like, if you have

0:19:16.480 --> 0:19:19.800
<v Speaker 1>people guarding it as closely as it's being guarded all

0:19:19.840 --> 0:19:22.239
<v Speaker 1>the time, that if you got locked in there, they

0:19:22.240 --> 0:19:24.879
<v Speaker 1>could let you out and just give you food or

0:19:24.920 --> 0:19:29.080
<v Speaker 1>something through those those slots that for the four days, yeah,

0:19:29.280 --> 0:19:33.840
<v Speaker 1>or just in the Yeah, that's an even better idea. Actually,

0:19:33.880 --> 0:19:36.119
<v Speaker 1>now that now that you mentioned it, but now they

0:19:36.119 --> 0:19:38.159
<v Speaker 1>didn't do that. They actually put an escape tunnel in

0:19:38.280 --> 0:19:41.080
<v Speaker 1>so that you can crawl out. It's not like a

0:19:41.119 --> 0:19:44.000
<v Speaker 1>pleasant walk or anything. You crawl like through this tunnel

0:19:44.000 --> 0:19:46.960
<v Speaker 1>and then out into the minefield basically. But the door

0:19:47.040 --> 0:19:50.800
<v Speaker 1>that you reach that lets you outside UM only opens

0:19:50.960 --> 0:19:53.520
<v Speaker 1>from the inside. It's impossible to open from the outside,

0:19:53.520 --> 0:19:56.320
<v Speaker 1>which I take to mean it doesn't have a door

0:19:56.400 --> 0:20:00.520
<v Speaker 1>knob on the outside, and then UM that's it guarded

0:20:01.400 --> 0:20:03.960
<v Speaker 1>by people who are ready to just shoot you up.

0:20:04.000 --> 0:20:06.160
<v Speaker 1>If you try to approach this door with your own

0:20:06.160 --> 0:20:09.400
<v Speaker 1>door knob that you brought to open it from the outside, right,

0:20:09.480 --> 0:20:13.199
<v Speaker 1>because you're not gonna come in here with a presumably

0:20:13.240 --> 0:20:16.800
<v Speaker 1>a freight train to steal all this gold. Where are

0:20:16.840 --> 0:20:19.520
<v Speaker 1>you gonna put the tracks? You can't do it. Are

0:20:19.560 --> 0:20:22.000
<v Speaker 1>you gonna get that gold out of there? I just

0:20:22.080 --> 0:20:24.480
<v Speaker 1>love the fact that we're trying to you know, we're

0:20:24.480 --> 0:20:29.560
<v Speaker 1>doing a podcast in explaining in dissuading people from trying

0:20:29.600 --> 0:20:32.880
<v Speaker 1>to get into Fort Knox. I mean, it's just so

0:20:33.160 --> 0:20:36.840
<v Speaker 1>like seventies to me, your thirties or you know. The

0:20:36.880 --> 0:20:39.600
<v Speaker 1>other cool thing is is that it can go off grid,

0:20:40.119 --> 0:20:44.080
<v Speaker 1>has its own water and power. So if you you know,

0:20:44.800 --> 0:20:47.560
<v Speaker 1>in the movie version, of course, once again, I would

0:20:47.560 --> 0:20:50.320
<v Speaker 1>think you would try and knock it off the line somehow,

0:20:51.000 --> 0:20:52.880
<v Speaker 1>get those cameras down, but they say, no, no, no,

0:20:52.960 --> 0:20:56.400
<v Speaker 1>we have those generators. We can live off grid. There's

0:20:56.400 --> 0:20:58.800
<v Speaker 1>a gun range in the basement, so if you want

0:20:58.800 --> 0:21:00.480
<v Speaker 1>to brush up on your machine gun down there, you

0:21:00.520 --> 0:21:03.240
<v Speaker 1>can do that. No, that's kind of like a little

0:21:03.640 --> 0:21:07.119
<v Speaker 1>little lan yacht to the whole thing. Like, by the way,

0:21:07.160 --> 0:21:10.679
<v Speaker 1>these guys are training um with guns downstairs in the

0:21:10.680 --> 0:21:13.080
<v Speaker 1>basement for fun because they've got nothing else to do.

0:21:13.400 --> 0:21:15.800
<v Speaker 1>They're just waiting for you to come who is guarding

0:21:15.840 --> 0:21:18.800
<v Speaker 1>it though, Um, from what I understand, their treasury agents

0:21:18.880 --> 0:21:21.639
<v Speaker 1>right and the army um can be called in if needed,

0:21:21.680 --> 0:21:24.720
<v Speaker 1>because again it's like right there, Yeah, the U S.

0:21:24.800 --> 0:21:29.160
<v Speaker 1>Met Police Force, Yeah, which I imagine is a it's

0:21:29.160 --> 0:21:32.720
<v Speaker 1>probably a pretty cool gig to have. I don't know

0:21:32.760 --> 0:21:34.760
<v Speaker 1>where they would have come up, but I swear we've

0:21:34.800 --> 0:21:38.560
<v Speaker 1>mentioned that they exist before. It seems familiar to me.

0:21:38.680 --> 0:21:41.320
<v Speaker 1>Have we done this all before? No, we haven't done

0:21:41.359 --> 0:21:44.480
<v Speaker 1>this one, but we have talked about money and currency before, um,

0:21:44.840 --> 0:21:48.080
<v Speaker 1>And I feel like that's where that's where we're at.

0:21:48.200 --> 0:21:50.480
<v Speaker 1>Don't you like that that maybe we should talk about

0:21:50.480 --> 0:21:53.760
<v Speaker 1>the goal itself, because I mean, yes, it's cool that

0:21:53.800 --> 0:21:56.080
<v Speaker 1>there's a twenty one in blast door and there's a

0:21:56.119 --> 0:22:00.520
<v Speaker 1>door that only opens from the inside and these ape tunnel.

0:22:00.560 --> 0:22:02.880
<v Speaker 1>But I think what everybody's really fascinated with as much

0:22:02.920 --> 0:22:05.240
<v Speaker 1>as anything is the fact that there is a lot

0:22:05.880 --> 0:22:09.359
<v Speaker 1>of gold inside of four knocks. Yeah. And this will

0:22:09.560 --> 0:22:11.880
<v Speaker 1>um kind of hit home too. If you've ever seen

0:22:12.000 --> 0:22:14.159
<v Speaker 1>movies where you're bringing gold out of a place in

0:22:14.200 --> 0:22:18.400
<v Speaker 1>a duffel bag, those gold bars weigh almost twenty eight

0:22:18.400 --> 0:22:22.200
<v Speaker 1>pounds apiece, just one, yeah, just one of those things.

0:22:22.240 --> 0:22:24.800
<v Speaker 1>So if you see people throwing them around in a

0:22:24.880 --> 0:22:28.560
<v Speaker 1>movie or putting ten of them fifteen of them in

0:22:28.600 --> 0:22:31.119
<v Speaker 1>a duffel bag and slinging it over their shoulder, that

0:22:31.280 --> 0:22:34.320
<v Speaker 1>is not realistic at all. They're seven inches long, three

0:22:34.320 --> 0:22:37.359
<v Speaker 1>and five eights inches wide, one in three quarters inches thick.

0:22:37.720 --> 0:22:41.240
<v Speaker 1>And wait, twenty seven point five pounds each, yeah, or

0:22:41.359 --> 0:22:44.280
<v Speaker 1>four hundred troy ounces. If you know what that means.

0:22:44.400 --> 0:22:47.000
<v Speaker 1>I have no idea. Um, and I think it's what

0:22:47.119 --> 0:22:51.560
<v Speaker 1>about ten twelve kilos a piece for those of you

0:22:51.680 --> 0:22:54.560
<v Speaker 1>who aren't listening in the US and the weird thing.

0:22:54.640 --> 0:22:57.360
<v Speaker 1>I didn't realize this, but as far as the Treasury

0:22:57.440 --> 0:22:59.600
<v Speaker 1>is concerned, and to me, this really kind of goes

0:22:59.640 --> 0:23:04.359
<v Speaker 1>to men straight, like how little the actual value of

0:23:04.640 --> 0:23:08.800
<v Speaker 1>maintaining this gold horde is that just for bookkeeping, they

0:23:09.000 --> 0:23:13.640
<v Speaker 1>they assign like an arbitrary value, the statutory value of gold.

0:23:13.680 --> 0:23:16.679
<v Speaker 1>It's what it's called at forty two dollars and forty

0:23:16.680 --> 0:23:19.200
<v Speaker 1>four cents and ounce, so that they can keep track

0:23:19.880 --> 0:23:22.479
<v Speaker 1>using that dollar amount of how much gold is in

0:23:23.240 --> 0:23:26.120
<v Speaker 1>uh Fort Knox, rather than you know, tracking it as

0:23:26.160 --> 0:23:30.240
<v Speaker 1>it as it relates to, like the international gold market. Yeah,

0:23:30.280 --> 0:23:33.000
<v Speaker 1>and so I did the math this time. I did too.

0:23:33.080 --> 0:23:34.560
<v Speaker 1>Let's see if we came up with the same thing.

0:23:35.240 --> 0:23:38.359
<v Speaker 1>So the supposedly there are forty metric tons of gold,

0:23:39.400 --> 0:23:41.480
<v Speaker 1>which by the way, is about two point five percent

0:23:41.560 --> 0:23:44.199
<v Speaker 1>of all the gold ever mind in the world in

0:23:44.280 --> 0:23:47.680
<v Speaker 1>human history. That's pretty impressive. And if we're just going

0:23:47.720 --> 0:23:49.840
<v Speaker 1>I'm gonna make sure we use the same numbers here

0:23:49.880 --> 0:23:54.560
<v Speaker 1>for metric tons, can use that forty two point four

0:23:54.640 --> 0:23:58.200
<v Speaker 1>four since per ounce. Okay, I did it differently, But

0:23:58.280 --> 0:24:00.280
<v Speaker 1>let's see if we came up with the same figure. Well,

0:24:00.280 --> 0:24:02.480
<v Speaker 1>what what what value did you use? Like? Oh, no,

0:24:02.720 --> 0:24:08.240
<v Speaker 1>you go first, Mr Jear, wrong guy. So using the

0:24:08.320 --> 0:24:11.919
<v Speaker 1>statutory value of gold that the US is set, I

0:24:12.000 --> 0:24:14.520
<v Speaker 1>came up with six point eight billion dollars worth of gold.

0:24:15.440 --> 0:24:18.879
<v Speaker 1>Close for mine. Close for mine. I used a different method.

0:24:19.000 --> 0:24:20.920
<v Speaker 1>And this is one of the great joys of math

0:24:21.040 --> 0:24:23.280
<v Speaker 1>is there are different approaches to the same problem. What

0:24:23.280 --> 0:24:26.439
<v Speaker 1>did you do? UM? I took that forty s hundred

0:24:26.560 --> 0:24:31.399
<v Speaker 1>metric tons of gold and UM divided it by pounds

0:24:32.480 --> 0:24:34.639
<v Speaker 1>seven point five pounds. So I came up with the

0:24:35.080 --> 0:24:38.680
<v Speaker 1>number of individual bars that I multiplied that number of

0:24:38.720 --> 0:24:42.320
<v Speaker 1>individual bars, which is three sixty eight thousand and seven

0:24:42.400 --> 0:24:47.160
<v Speaker 1>hundred and seventy three bars. By that sixteen thousand, eight

0:24:47.240 --> 0:24:50.320
<v Speaker 1>hundred and eighty eight dollars per bar I came up

0:24:50.320 --> 0:24:53.080
<v Speaker 1>with in the neighborhood of six point to five six

0:24:53.119 --> 0:24:57.000
<v Speaker 1>billion dollars worth of gold. Well, first of all, there's

0:24:57.480 --> 0:25:01.400
<v Speaker 1>a psychologist that's listening to this, that is really yeah,

0:25:01.640 --> 0:25:04.080
<v Speaker 1>looking at what that means for both of our personalities.

0:25:04.240 --> 0:25:07.120
<v Speaker 1>For sure, I say a lot. You know, did you

0:25:07.240 --> 0:25:09.159
<v Speaker 1>use Are you sure you use metric tons and not

0:25:09.240 --> 0:25:14.439
<v Speaker 1>just tons? Yeah? I I did um pound to metric

0:25:14.480 --> 0:25:16.280
<v Speaker 1>ton conversion. You know how you can go on the

0:25:16.320 --> 0:25:19.480
<v Speaker 1>internet and just say pound metric ton and like it

0:25:19.480 --> 0:25:22.040
<v Speaker 1>brings up a little conversion thing for you. Yeah, I

0:25:22.080 --> 0:25:24.080
<v Speaker 1>was just I was just making sure because at first

0:25:24.119 --> 0:25:26.399
<v Speaker 1>I didn't do metric ton and that was different. And

0:25:26.480 --> 0:25:28.639
<v Speaker 1>did a short time that is short ton, and that

0:25:28.680 --> 0:25:32.960
<v Speaker 1>came to about six closer to your number. Okay, Yeah, No,

0:25:33.119 --> 0:25:35.159
<v Speaker 1>I and I actually rounded a little bit because I

0:25:35.560 --> 0:25:37.520
<v Speaker 1>was like, e, what the heck is that when the

0:25:38.600 --> 0:25:41.040
<v Speaker 1>total came up, So I went back and redid it.

0:25:41.080 --> 0:25:42.760
<v Speaker 1>And I didn't feel like plugging in all the same

0:25:42.800 --> 0:25:46.359
<v Speaker 1>numbers round. What I wonder. What I did was I

0:25:46.400 --> 0:25:50.520
<v Speaker 1>just took how many ounces or in forty six in

0:25:50.560 --> 0:25:54.320
<v Speaker 1>a ton in a metric ton, multiplied that by and

0:25:54.359 --> 0:25:59.159
<v Speaker 1>then multiplied that by two. Right, Well, I proposed that

0:25:59.359 --> 0:26:01.760
<v Speaker 1>move along because I just suddenly rose. There's probably people

0:26:01.800 --> 0:26:05.560
<v Speaker 1>who's like their fingertips of Doug under their eyeballs. They're

0:26:05.600 --> 0:26:10.440
<v Speaker 1>so they're in such agony hearing us discuss math like this. Well,

0:26:10.440 --> 0:26:13.639
<v Speaker 1>what's what's important is that the Fed in New York

0:26:13.680 --> 0:26:16.720
<v Speaker 1>actually has more gold in their Manhattan vault, which was

0:26:16.720 --> 0:26:20.240
<v Speaker 1>in a movie six thousand tons of gold that would

0:26:20.240 --> 0:26:24.520
<v Speaker 1>have been die Harder, die Hard three. I believe it

0:26:24.560 --> 0:26:26.520
<v Speaker 1>may have die another day. I don't know, but it

0:26:26.600 --> 0:26:29.560
<v Speaker 1>was a good one. That was the one with Sam Jackson. Yeah,

0:26:29.640 --> 0:26:32.760
<v Speaker 1>that was pretty good. Um. And by the way, I

0:26:32.800 --> 0:26:35.719
<v Speaker 1>need to say something. I realized that I said, Event

0:26:35.760 --> 0:26:39.200
<v Speaker 1>Horizon is a good movie and holds up. I went

0:26:39.240 --> 0:26:42.640
<v Speaker 1>back and saw it again again, and I was like,

0:26:42.720 --> 0:26:47.000
<v Speaker 1>this is way jokier than I remember from last time. Yeah,

0:26:47.040 --> 0:26:50.280
<v Speaker 1>and sadly there's a there's a sheen or a coating

0:26:50.320 --> 0:26:54.040
<v Speaker 1>of hokey nous that I guess maybe they brought in

0:26:54.080 --> 0:26:56.080
<v Speaker 1>somebody to punch up the script or something, and that

0:26:56.160 --> 0:26:58.560
<v Speaker 1>was their contribution, but it's not so it doesn't hold

0:26:58.640 --> 0:27:03.960
<v Speaker 1>up anymore. No, And it's a great galactic love crafty

0:27:04.080 --> 0:27:07.879
<v Speaker 1>and horror movie and concept and in some parts, but no,

0:27:08.160 --> 0:27:11.840
<v Speaker 1>it's unfortunately rather hokey. I'm I'm a little gutted to

0:27:11.880 --> 0:27:14.200
<v Speaker 1>say that. As our British friends would say, maybe you

0:27:14.200 --> 0:27:16.040
<v Speaker 1>should watch it again in like three years and it

0:27:16.119 --> 0:27:18.600
<v Speaker 1>might be back on truck for you. Well maybe, you know,

0:27:18.720 --> 0:27:22.359
<v Speaker 1>maybe it's me that's the problem. Well, you know, taste

0:27:22.400 --> 0:27:26.960
<v Speaker 1>waxes and waynes. Yeah, that's true. Uh, there's another there's

0:27:27.000 --> 0:27:28.959
<v Speaker 1>some other stuff in Fort Knox, and there has been

0:27:29.000 --> 0:27:32.040
<v Speaker 1>other stuff through history in Fort Knox because it's just

0:27:32.080 --> 0:27:33.800
<v Speaker 1>a great place to keep stuff if you don't want

0:27:33.800 --> 0:27:36.679
<v Speaker 1>to lose it or have it stolen. They have some

0:27:36.800 --> 0:27:39.840
<v Speaker 1>rare coins in there. These are coins that were not

0:27:39.960 --> 0:27:43.480
<v Speaker 1>released to the public. They may have been promotional coins

0:27:43.560 --> 0:27:47.040
<v Speaker 1>or test pressings. Um. And so there's some of that stuff,

0:27:47.080 --> 0:27:51.800
<v Speaker 1>including uh, the Chicago Way dollars coins that flew on

0:27:51.840 --> 0:27:56.840
<v Speaker 1>the Space Shuttle. Is that funny? Yeah, that's soccer juwiyah. Yeah,

0:27:57.640 --> 0:28:01.880
<v Speaker 1>that's like the American bastardization. It's Chicago Way. Oh, well,

0:28:01.880 --> 0:28:06.400
<v Speaker 1>maybe we should keep this in okay, because I've never

0:28:06.440 --> 0:28:09.400
<v Speaker 1>heard anybody say that. I really thought you'd just pronounced

0:28:09.400 --> 0:28:12.040
<v Speaker 1>that other people say it like that. Yeah. I think

0:28:12.040 --> 0:28:15.000
<v Speaker 1>it's one of those things where like the native pronunciation

0:28:15.080 --> 0:28:18.480
<v Speaker 1>is Chicago Way, and Americans were like saka jaweeah. No,

0:28:18.960 --> 0:28:21.320
<v Speaker 1>oh my god, my, I've got so much egg on

0:28:21.359 --> 0:28:23.760
<v Speaker 1>my face. Maybe we won't keep this part in. You

0:28:23.840 --> 0:28:25.359
<v Speaker 1>have to say it. You said it wrong, though, you

0:28:25.359 --> 0:28:30.480
<v Speaker 1>have to be like, that's wrong, that's wrong. Okay, thank you.

0:28:30.640 --> 0:28:33.919
<v Speaker 1>So it is Chicago Way? Huh? Is it Chicago? I

0:28:33.960 --> 0:28:36.080
<v Speaker 1>think it's just Chicago Way. And I only learned that

0:28:36.160 --> 0:28:42.520
<v Speaker 1>from Ken Burns. God bless Kimmer and you man, Thank

0:28:42.560 --> 0:28:45.600
<v Speaker 1>you for setting me straight in front of a million people. Uh.

0:28:45.680 --> 0:28:49.440
<v Speaker 1>Let me see here in nineteen thirty three gold double

0:28:49.480 --> 0:28:52.800
<v Speaker 1>eagle twenty dollar coin. That's kind of cool. Yeah. Sure,

0:28:52.880 --> 0:28:56.360
<v Speaker 1>there's an aluminum dime no penny, an aluminum penny from

0:28:57.280 --> 0:28:59.880
<v Speaker 1>four which I'd love to see that thing. I would too,

0:29:00.000 --> 0:29:03.640
<v Speaker 1>but it just strikes me as a little sad. Sure, um,

0:29:03.720 --> 0:29:06.520
<v Speaker 1>the the they're there have also been because Fort Knox

0:29:06.600 --> 0:29:08.640
<v Speaker 1>is just so well known as this I pregnable place

0:29:08.640 --> 0:29:11.560
<v Speaker 1>and it really is, you know, legitimately you cannot get

0:29:11.600 --> 0:29:14.400
<v Speaker 1>into it no matter how hard you try. Um. It's

0:29:14.400 --> 0:29:17.040
<v Speaker 1>actually served as the site the storehouse for some like

0:29:17.120 --> 0:29:22.160
<v Speaker 1>truly valuable stuff, um, like the Declaration of Independence, the

0:29:22.200 --> 0:29:27.760
<v Speaker 1>Bill of Rights, um, the Gettysburg Address, a Guttenberg Bible, um. Uh,

0:29:28.000 --> 0:29:30.880
<v Speaker 1>the Magnet Card. Actually during World War two, England's like, hey,

0:29:30.920 --> 0:29:32.960
<v Speaker 1>can you hang onto this force because the Germans are

0:29:33.040 --> 0:29:36.800
<v Speaker 1>really like up our butts right now? Yeah, so they

0:29:36.920 --> 0:29:40.600
<v Speaker 1>so we held that at Fort Knox during World War two. Um.

0:29:40.720 --> 0:29:43.760
<v Speaker 1>Which is I mean, that's just fascinating to the idea

0:29:43.800 --> 0:29:49.280
<v Speaker 1>that some apparently some secret service agent traveled secretly with

0:29:49.480 --> 0:29:52.440
<v Speaker 1>a bunch of these documents from Washington, d C. And

0:29:52.440 --> 0:29:54.800
<v Speaker 1>put him on a train out to Kentucky to go

0:29:54.840 --> 0:29:57.280
<v Speaker 1>to be held in Fort Knox during World War two.

0:29:57.520 --> 0:30:00.200
<v Speaker 1>I love it. That's really cool. And that was temporary area.

0:30:00.240 --> 0:30:03.160
<v Speaker 1>Think didn't they return them right afterwards? Oh yeah, for sure.

0:30:03.200 --> 0:30:06.400
<v Speaker 1>Apparently they dedicated the Jefferson Memorial in ninety three and

0:30:06.440 --> 0:30:09.480
<v Speaker 1>they're like, we need to get the um the Declaration

0:30:09.520 --> 0:30:11.880
<v Speaker 1>of Independence out there. And they found out that the

0:30:11.880 --> 0:30:14.520
<v Speaker 1>guards were using it as a place mat to eat

0:30:14.560 --> 0:30:18.440
<v Speaker 1>their dehydrated foods. You know, they'd swapped it with with

0:30:18.800 --> 0:30:22.560
<v Speaker 1>something that they only use crayon to forge, kept the

0:30:22.560 --> 0:30:27.080
<v Speaker 1>original themselves. So should we break now before conspiracies or

0:30:27.160 --> 0:30:30.480
<v Speaker 1>wait and break before gold standard? We'll break now, And

0:30:30.480 --> 0:30:31.880
<v Speaker 1>I'm not a hard percent sure I'm going to be

0:30:31.920 --> 0:30:34.320
<v Speaker 1>able to come back from the Chicago Way thing. Okay,

0:30:34.440 --> 0:30:36.040
<v Speaker 1>So it might just be you when we come back

0:30:36.080 --> 0:31:08.720
<v Speaker 1>from from break No never, okay, Chuck. So one of

0:31:08.760 --> 0:31:11.440
<v Speaker 1>the things, one of the favorite things Americans love to

0:31:11.480 --> 0:31:15.160
<v Speaker 1>do is to suggest quite seriously in a lot of cases,

0:31:15.560 --> 0:31:20.080
<v Speaker 1>that there is no such thing as a gold in

0:31:20.280 --> 0:31:22.160
<v Speaker 1>Fort Knox, and that there hasn't been golden there for

0:31:22.200 --> 0:31:24.040
<v Speaker 1>a very long time. And if you went there and

0:31:24.080 --> 0:31:26.400
<v Speaker 1>you saw gold, well you're a fool, because the best thing,

0:31:26.800 --> 0:31:29.840
<v Speaker 1>the best possible scenario, is that you saw something like

0:31:30.240 --> 0:31:34.400
<v Speaker 1>tongue sten that was spray painted or plated in gold,

0:31:34.440 --> 0:31:36.280
<v Speaker 1>and that the golden Fort Knox is not there and

0:31:36.360 --> 0:31:38.600
<v Speaker 1>hasn't been there for a very long time, and not

0:31:38.680 --> 0:31:43.320
<v Speaker 1>only that it was sold for the most nefarious, outrageous

0:31:43.320 --> 0:31:47.800
<v Speaker 1>purposes we can possibly come up with. Yeah, So they

0:31:47.840 --> 0:31:53.520
<v Speaker 1>audit Fort Knox and they count the gold allegedly supposedly,

0:31:53.600 --> 0:31:56.520
<v Speaker 1>Dotty and Danny get in there with their adding machine

0:31:57.280 --> 0:32:00.760
<v Speaker 1>and they type everything out. Um, and I love how

0:32:00.960 --> 0:32:03.360
<v Speaker 1>Ed put this. He said that all the conspiracy theories

0:32:03.960 --> 0:32:07.800
<v Speaker 1>rely on quote, some fundamental misunderstanding of how currency works,

0:32:08.120 --> 0:32:11.720
<v Speaker 1>how the gold standard worked, or just outright nonsense. But

0:32:11.800 --> 0:32:14.600
<v Speaker 1>it's kind of true. Yeah, I know, it totally is,

0:32:14.880 --> 0:32:17.520
<v Speaker 1>because there's this call for which we'll talk about the

0:32:17.880 --> 0:32:20.520
<v Speaker 1>gold to be used again the way originally was, which

0:32:20.560 --> 0:32:24.720
<v Speaker 1>is a back our currency. If that's the If that's

0:32:24.800 --> 0:32:27.280
<v Speaker 1>really the basis of your problem with the idea that

0:32:27.320 --> 0:32:30.120
<v Speaker 1>the gold was secretly sold off in Fort Knox, then

0:32:30.200 --> 0:32:33.200
<v Speaker 1>then yeah, you you misunderstand how currency works or how

0:32:33.240 --> 0:32:36.600
<v Speaker 1>economies work, and you probably don't fully understand how the

0:32:36.640 --> 0:32:40.400
<v Speaker 1>gold standard was not really great and that America actually

0:32:40.720 --> 0:32:43.200
<v Speaker 1>blew up and the whole world blew up after we

0:32:43.320 --> 0:32:46.320
<v Speaker 1>switched off of the gold standard. That's how the the

0:32:46.400 --> 0:32:49.240
<v Speaker 1>global economy really started to take off was when we

0:32:49.320 --> 0:32:52.800
<v Speaker 1>decoupled our currency from being pinned to gold. So that's

0:32:52.840 --> 0:32:56.040
<v Speaker 1>another seems to be another um factor in in in

0:32:56.440 --> 0:33:00.280
<v Speaker 1>kind of banding about conspiracy theories about Fort Knox gold too. Yeah,

0:33:00.280 --> 0:33:04.800
<v Speaker 1>and a lot of these conspiracy theories are anti Semitic. Yeah, Um,

0:33:04.840 --> 0:33:06.880
<v Speaker 1>there are believe it or not. There are some really

0:33:06.920 --> 0:33:10.120
<v Speaker 1>smart people who think who who may or may not

0:33:10.160 --> 0:33:13.400
<v Speaker 1>believe in some of these theories, and some that believe

0:33:13.440 --> 0:33:16.920
<v Speaker 1>we should go back to the gold standard, including Alan Greenspan.

0:33:17.800 --> 0:33:21.640
<v Speaker 1>UM woman named Judy Shelton who Trump tried to push

0:33:21.680 --> 0:33:25.760
<v Speaker 1>for appointment to the FED to the Federal Reserve UM

0:33:25.760 --> 0:33:28.000
<v Speaker 1>and I'm not sure if she believes in the conspiracy

0:33:28.000 --> 0:33:29.280
<v Speaker 1>theories or she just wants to go back to the

0:33:29.280 --> 0:33:32.040
<v Speaker 1>gold standard. Yeah, they're not. I mean, it's not hand

0:33:32.040 --> 0:33:34.240
<v Speaker 1>in hand. It's just if you do think we should

0:33:34.240 --> 0:33:37.760
<v Speaker 1>go back to the gold standard, it's basically impossible for

0:33:37.840 --> 0:33:40.440
<v Speaker 1>your attention not to follow on Fort Knox. And then

0:33:40.480 --> 0:33:44.280
<v Speaker 1>you may be like, well is there even gold there? Yeah? True,

0:33:44.360 --> 0:33:47.720
<v Speaker 1>but there are some truly whay could do things out there. Uh,

0:33:47.760 --> 0:33:51.440
<v Speaker 1>this Peter Better guy? Oh is that how you're saying

0:33:51.520 --> 0:33:55.320
<v Speaker 1>his name? What is it? If his Yeah, if his

0:33:55.400 --> 0:33:59.040
<v Speaker 1>name is not Peter Beater, then I'm sad I am

0:33:59.080 --> 0:34:02.080
<v Speaker 1>to be your beater the E T E. R. That's

0:34:02.080 --> 0:34:03.520
<v Speaker 1>what I'm gonna call him at least. Yeah, it's like

0:34:03.640 --> 0:34:07.000
<v Speaker 1>Peter with a B. Yeah, but his first name is Peter.

0:34:07.280 --> 0:34:12.359
<v Speaker 1>It's magnificent, it's perfect. So he has thrown a lot

0:34:12.400 --> 0:34:16.400
<v Speaker 1>of conspiracies out there since the seventies, uh, including a

0:34:16.440 --> 0:34:19.040
<v Speaker 1>popular one that we sold off all the gold to

0:34:19.239 --> 0:34:23.160
<v Speaker 1>these global elites for next to nothing so they could

0:34:23.160 --> 0:34:26.840
<v Speaker 1>hoard that gold and then one day just destabilize the

0:34:26.880 --> 0:34:30.080
<v Speaker 1>economy of the world and uh and you know, a

0:34:30.160 --> 0:34:34.680
<v Speaker 1>sin to power basically, yeah, because they would have all

0:34:34.719 --> 0:34:37.359
<v Speaker 1>the money and they sunk the value of the money

0:34:37.440 --> 0:34:40.080
<v Speaker 1>so they could buy everything else at rock bottom prices

0:34:40.120 --> 0:34:43.560
<v Speaker 1>like they bought the gold. Apparently this involves the Rothchilds,

0:34:43.560 --> 0:34:46.880
<v Speaker 1>which automatically makes the whole thing anti Semitic, because the

0:34:47.000 --> 0:34:49.760
<v Speaker 1>roth Child's started out and you know, are still around

0:34:49.800 --> 0:34:52.920
<v Speaker 1>as far as I know, UM as a Jewish banking family,

0:34:53.480 --> 0:34:57.000
<v Speaker 1>uh many many centuries ago. UM and rose to power

0:34:57.000 --> 0:35:00.759
<v Speaker 1>and wealth pretty quickly and actually had a huge um

0:35:01.120 --> 0:35:04.160
<v Speaker 1>role in a lot of world affairs, like we're able

0:35:04.200 --> 0:35:07.640
<v Speaker 1>to bail out entire nations like France after they went

0:35:07.680 --> 0:35:10.680
<v Speaker 1>into debt over war, like this family could do that.

0:35:11.040 --> 0:35:14.400
<v Speaker 1>And it started a lot of conspiracy theories. So um,

0:35:14.560 --> 0:35:17.520
<v Speaker 1>they're kind of like one of the o G conspiracy theories.

0:35:17.560 --> 0:35:21.040
<v Speaker 1>And usually it was based on a combination or it

0:35:21.120 --> 0:35:23.839
<v Speaker 1>was based on suspiciousness of a combination of them being

0:35:23.920 --> 0:35:28.759
<v Speaker 1>Jewish and then being extraordinarily wealthy. Yeah, there's this other guy.

0:35:28.880 --> 0:35:35.560
<v Speaker 1>Is his name is yan nieven Huis. I'm sure that's wrong. Um,

0:35:35.600 --> 0:35:38.920
<v Speaker 1>he had an alias named KU's Jansen ko O s.

0:35:39.760 --> 0:35:42.640
<v Speaker 1>And I listened to and read some interviews with this

0:35:42.719 --> 0:35:46.320
<v Speaker 1>guy and he did you check into him? He seems

0:35:46.880 --> 0:35:50.040
<v Speaker 1>he seems like a pretty level headed economist, right, that

0:35:50.160 --> 0:35:54.319
<v Speaker 1>just seems to think that these audits aren't correct and

0:35:54.360 --> 0:35:57.280
<v Speaker 1>there is something kinky going on. He didn't seem really

0:35:57.320 --> 0:36:01.560
<v Speaker 1>out there though. No, it's it seems like a case

0:36:01.600 --> 0:36:05.200
<v Speaker 1>of paying too much attention to details and and starting

0:36:05.200 --> 0:36:09.120
<v Speaker 1>to see things that aren't necessarily there. Or if you

0:36:09.200 --> 0:36:12.160
<v Speaker 1>do turn up a discrepancy, assuming that it does reveal

0:36:12.239 --> 0:36:14.920
<v Speaker 1>some larger plot rather than just being a mistake or

0:36:14.920 --> 0:36:17.279
<v Speaker 1>an accounting error or somebody forgot to carry the one.

0:36:17.719 --> 0:36:19.880
<v Speaker 1>That's my impression. I could be wrong. I don't know

0:36:20.040 --> 0:36:23.640
<v Speaker 1>much about cous Jansen. Yeah, but the interview just seemed

0:36:23.719 --> 0:36:28.440
<v Speaker 1>very level headed. Um, he wasn't talking about um robotsoids,

0:36:28.520 --> 0:36:34.120
<v Speaker 1>which is what Peter Peter talks about, right, literally talks

0:36:34.120 --> 0:36:37.080
<v Speaker 1>about stuff like that. Well, that's what makes it believable.

0:36:37.200 --> 0:36:39.520
<v Speaker 1>Is the OIDs on the end. If there were just robots,

0:36:39.560 --> 0:36:42.359
<v Speaker 1>it would just seem rather far fat. What about Ron Paul?

0:36:42.480 --> 0:36:44.520
<v Speaker 1>His is a little out there. He thinks it's all fake, right,

0:36:45.200 --> 0:36:47.560
<v Speaker 1>so Ron Paul. I can't tell if Ron Paul is

0:36:48.560 --> 0:36:50.719
<v Speaker 1>the source of a lot of this or was an

0:36:50.760 --> 0:36:53.960
<v Speaker 1>amplifier for a lot of it, But he's tapped into

0:36:54.120 --> 0:36:58.719
<v Speaker 1>or is part of one of the larger um kind

0:36:58.719 --> 0:37:02.200
<v Speaker 1>of follow wings of of conspiracy theories as far as

0:37:02.200 --> 0:37:05.319
<v Speaker 1>Fort Knox is concerned, which is that that either like

0:37:05.360 --> 0:37:08.440
<v Speaker 1>I was saying earlier, there's either no gold there really,

0:37:08.840 --> 0:37:10.960
<v Speaker 1>or the goal that is there is fake and the

0:37:11.000 --> 0:37:13.880
<v Speaker 1>real goal has been sold, And that the US has

0:37:13.920 --> 0:37:17.279
<v Speaker 1>been doing this for a very long time for all

0:37:17.280 --> 0:37:22.520
<v Speaker 1>sorts of uncertain reasons. Um Like that, and that usually

0:37:22.600 --> 0:37:25.000
<v Speaker 1>these days that China has been the big recipient of

0:37:25.080 --> 0:37:27.759
<v Speaker 1>cheap gold, and maybe we've been doing that because if

0:37:27.800 --> 0:37:30.600
<v Speaker 1>we sell China bunch of cheap gold, it will actually

0:37:30.680 --> 0:37:34.799
<v Speaker 1>keep the dollar low and we'll strengthen our exports. I'm

0:37:34.840 --> 0:37:38.040
<v Speaker 1>not quite sure how that works. Um. There also seems

0:37:38.040 --> 0:37:41.239
<v Speaker 1>to be a certain amount of like national pride associated

0:37:41.280 --> 0:37:44.279
<v Speaker 1>with it, where like, no, that's our goal, that's the

0:37:44.320 --> 0:37:47.120
<v Speaker 1>people's goal that can't be sold off secretly by the government.

0:37:47.480 --> 0:37:51.040
<v Speaker 1>And here's to me where it's like, even if there

0:37:51.120 --> 0:37:54.000
<v Speaker 1>is it any gold in Fort Knox at some point

0:37:54.120 --> 0:37:57.760
<v Speaker 1>in in the not too distant past, but the past,

0:37:57.880 --> 0:38:02.040
<v Speaker 1>for sure, we've gone so far are beyond that having

0:38:02.120 --> 0:38:05.719
<v Speaker 1>any importance whatsoever based on the dollar value of the

0:38:05.719 --> 0:38:10.080
<v Speaker 1>golden Fort Knox that it legitimately doesn't matter. But that's

0:38:10.080 --> 0:38:12.200
<v Speaker 1>why I think some people are like, no, it doesn't matter.

0:38:12.239 --> 0:38:15.239
<v Speaker 1>That is our goal. That's America's gold. Um. I've seen

0:38:15.280 --> 0:38:17.400
<v Speaker 1>it referred to I think ed said somebody referred to

0:38:17.440 --> 0:38:20.480
<v Speaker 1>it as the equity of our national wealth. Um. And

0:38:20.480 --> 0:38:22.200
<v Speaker 1>there seems to be like a certain amount of like

0:38:22.320 --> 0:38:27.000
<v Speaker 1>American pride or patriotism in in being really mad about

0:38:27.040 --> 0:38:29.880
<v Speaker 1>the idea that Fort Knox doesn't have any gold anymore,

0:38:29.920 --> 0:38:33.240
<v Speaker 1>that the American people were duped by, you know, whatever

0:38:33.280 --> 0:38:36.120
<v Speaker 1>elites are running the show at the behest of whatever

0:38:36.200 --> 0:38:40.080
<v Speaker 1>Jewish people are running the elites. Uh. Because here's the deal,

0:38:40.120 --> 0:38:42.120
<v Speaker 1>and this is where we kind of get in more

0:38:42.160 --> 0:38:45.360
<v Speaker 1>to the of the gold standard, and we talked about

0:38:45.360 --> 0:38:47.200
<v Speaker 1>this in currency and how both of us are kind

0:38:47.200 --> 0:38:52.080
<v Speaker 1>of consistently blown away that money all money is. It's

0:38:52.160 --> 0:38:55.680
<v Speaker 1>just something that everyone has agreed on has value. Yeah,

0:38:55.840 --> 0:38:58.040
<v Speaker 1>and that's what we've been doing forever. But yeah, since

0:38:58.120 --> 0:39:02.560
<v Speaker 1>there has been a little ingets and trinkets, as long

0:39:02.600 --> 0:39:05.000
<v Speaker 1>as you agree, I mean, it could be a well,

0:39:05.040 --> 0:39:07.120
<v Speaker 1>it could be a stick. It has to be something

0:39:07.200 --> 0:39:09.640
<v Speaker 1>that you can't just go out and forage, although you

0:39:09.680 --> 0:39:12.200
<v Speaker 1>can with gold, which is a problem you can. I mean,

0:39:12.239 --> 0:39:15.239
<v Speaker 1>like think about womp them that was extensively used and

0:39:15.280 --> 0:39:18.440
<v Speaker 1>I believe the Pacific Northwest by more than one Um

0:39:18.640 --> 0:39:21.960
<v Speaker 1>tribe and nation. Um womp them was where they were

0:39:22.000 --> 0:39:24.560
<v Speaker 1>like little little seashells that you could go and collect

0:39:24.600 --> 0:39:27.600
<v Speaker 1>if you wanted to, and they were considered valuable currency

0:39:27.880 --> 0:39:29.799
<v Speaker 1>and were for a very long time too. So it

0:39:29.840 --> 0:39:33.239
<v Speaker 1>could conceivably be a stick as far as humanity is concerned. Right,

0:39:33.280 --> 0:39:35.520
<v Speaker 1>But in our case and in the case of paper

0:39:35.520 --> 0:39:39.000
<v Speaker 1>money these days, it is uh, we've had to make

0:39:39.120 --> 0:39:42.480
<v Speaker 1>make it incredibly hard to recreate and counterfeit. You can

0:39:42.520 --> 0:39:45.880
<v Speaker 1>also listen to our counterfeiting episode. But what really struck

0:39:45.920 --> 0:39:49.279
<v Speaker 1>me kind of with that thought experiment this time is

0:39:49.320 --> 0:39:53.320
<v Speaker 1>that gold really doesn't have much value either as a commodity.

0:39:53.560 --> 0:39:57.640
<v Speaker 1>It's it's nice for making pretty trinkets. But uh, and

0:39:57.960 --> 0:39:59.920
<v Speaker 1>they use it in some electronics and stuff like that.

0:40:00.040 --> 0:40:02.040
<v Speaker 1>It we've also just sort of agreed that gold is

0:40:02.120 --> 0:40:06.720
<v Speaker 1>valuable and the only thing that really has true value

0:40:07.520 --> 0:40:11.480
<v Speaker 1>is food, air, and water, if you, if you think

0:40:11.520 --> 0:40:14.480
<v Speaker 1>about it, and love, and the irony is is that

0:40:14.520 --> 0:40:17.440
<v Speaker 1>we're doing our best to kill all that stuff away,

0:40:17.920 --> 0:40:22.920
<v Speaker 1>you know, the stuff that really matters. Man, pravo, pravo.

0:40:23.480 --> 0:40:25.239
<v Speaker 1>I wanna give you a hand to help you down

0:40:25.280 --> 0:40:27.520
<v Speaker 1>from your soapbox, and I'm gonna put a king robe

0:40:27.560 --> 0:40:32.560
<v Speaker 1>around you. Okay, it's goldflecting. It's got like the little

0:40:32.600 --> 0:40:37.279
<v Speaker 1>white leopard, um like like caller, yeah, whatever that is.

0:40:37.320 --> 0:40:40.360
<v Speaker 1>You look great, And that was wonderful. No, it's just

0:40:40.440 --> 0:40:42.400
<v Speaker 1>it's just so funny. These things that we've agreed have

0:40:42.520 --> 0:40:45.319
<v Speaker 1>value really don't. And the things that really truly have

0:40:45.440 --> 0:40:47.920
<v Speaker 1>valued are really just the things that keep people alive,

0:40:48.520 --> 0:40:51.680
<v Speaker 1>right right, But even like taking that hippie stuff out

0:40:51.680 --> 0:40:56.520
<v Speaker 1>of the equation, there was a time where people said, um, no, gold,

0:40:56.640 --> 0:41:00.120
<v Speaker 1>gold actually is valuable. People of value gold for eons now,

0:41:00.320 --> 0:41:02.799
<v Speaker 1>Like it's one of the first things humans agreed had

0:41:02.880 --> 0:41:05.920
<v Speaker 1>inherent value, even though it doesn't really have inherent value

0:41:05.960 --> 0:41:09.799
<v Speaker 1>because it was yeah, and so it made sense that

0:41:09.920 --> 0:41:13.200
<v Speaker 1>we we would say, Okay, gold is really hard to

0:41:13.239 --> 0:41:16.799
<v Speaker 1>lug around and like, um, it's you just you don't

0:41:16.800 --> 0:41:19.520
<v Speaker 1>want to actually trade gold. How about we make paper

0:41:19.920 --> 0:41:23.680
<v Speaker 1>that represents a certain amount of gold and um. So

0:41:23.760 --> 0:41:26.200
<v Speaker 1>that's kind of where we got paper currency in the world,

0:41:26.320 --> 0:41:28.680
<v Speaker 1>and that's what we've been using for a very long time.

0:41:28.960 --> 0:41:32.840
<v Speaker 1>But over time the problems, the issues that can arise

0:41:32.880 --> 0:41:38.280
<v Speaker 1>from pinning your your currency to gold, um, they became apparent.

0:41:38.680 --> 0:41:41.680
<v Speaker 1>For one, you're very you're limited to the amount of

0:41:41.719 --> 0:41:44.000
<v Speaker 1>gold that exists in the world, which is substantial. I

0:41:44.040 --> 0:41:46.719
<v Speaker 1>mean all the golden Fort Knox is only two and

0:41:46.760 --> 0:41:48.920
<v Speaker 1>a half percent of the all the gold that was

0:41:48.960 --> 0:41:51.000
<v Speaker 1>ever mine. So there's a lot of gold in the world,

0:41:51.040 --> 0:41:53.640
<v Speaker 1>but that's a finite amount, which is why some people

0:41:53.640 --> 0:41:56.320
<v Speaker 1>are like, yeah, that's why we should pin our currency

0:41:56.320 --> 0:41:58.919
<v Speaker 1>to gold. It prevents it from getting out of hand

0:41:58.920 --> 0:42:01.640
<v Speaker 1>and you can't just print how over much you want. Um.

0:42:01.920 --> 0:42:03.920
<v Speaker 1>The problem is that it's like you were saying, like

0:42:03.960 --> 0:42:05.719
<v Speaker 1>with a stick, you can go in the forest and

0:42:05.719 --> 0:42:09.320
<v Speaker 1>go get a bunch of sticks. Conceivably, you a private

0:42:09.320 --> 0:42:12.360
<v Speaker 1>company could go mine a bunch of gold that you found,

0:42:12.440 --> 0:42:16.400
<v Speaker 1>you found a horde and um you you can mind it.

0:42:16.440 --> 0:42:20.239
<v Speaker 1>And that will affect the value of not just gold,

0:42:20.280 --> 0:42:24.080
<v Speaker 1>but of entire national economies in the global economy as

0:42:24.120 --> 0:42:27.759
<v Speaker 1>a whole. If everybody's pinning their currency to gold. Yeah.

0:42:27.840 --> 0:42:30.840
<v Speaker 1>And the thing is it also like, if your economy

0:42:30.920 --> 0:42:34.200
<v Speaker 1>is backed only by gold, it's really tough to make

0:42:34.239 --> 0:42:38.000
<v Speaker 1>adjustments to the economy as a government, which is something

0:42:38.040 --> 0:42:40.920
<v Speaker 1>as things have become more complicated over the years with

0:42:41.200 --> 0:42:45.759
<v Speaker 1>finance throughout the world, we've relied upon UM and I

0:42:45.760 --> 0:42:47.759
<v Speaker 1>don't think we even mentioned that. The reason we did

0:42:47.760 --> 0:42:50.319
<v Speaker 1>this to begin with is because when we first had

0:42:50.320 --> 0:42:54.040
<v Speaker 1>the idea of paper currency, people are like, I don't

0:42:54.040 --> 0:42:57.200
<v Speaker 1>trust that at all, Like coins that people were kind

0:42:57.200 --> 0:42:59.919
<v Speaker 1>of used to because they've been using trinkets and gets

0:43:00.080 --> 0:43:02.680
<v Speaker 1>coins for many, many years. But when they brought out

0:43:02.680 --> 0:43:06.400
<v Speaker 1>paper dollars, and part of this was because understandable because

0:43:06.440 --> 0:43:08.640
<v Speaker 1>private banks and I think we talked about this in

0:43:08.680 --> 0:43:13.040
<v Speaker 1>currency UM and especially in the South pre Civil War South,

0:43:13.560 --> 0:43:17.240
<v Speaker 1>there were all kinds of values for their paper currency,

0:43:17.320 --> 0:43:19.840
<v Speaker 1>so none of it really meant anything. Yeah, a bank,

0:43:20.520 --> 0:43:23.480
<v Speaker 1>a company of a town could print their own money.

0:43:23.560 --> 0:43:26.200
<v Speaker 1>There was no federal monopoly on printing money in the

0:43:26.280 --> 0:43:29.319
<v Speaker 1>United States until some time after the Civil War. I think,

0:43:29.600 --> 0:43:31.800
<v Speaker 1>so people just said, yeah, we don't like this paper

0:43:31.840 --> 0:43:33.839
<v Speaker 1>currency thing. So we came along and said, all right, well,

0:43:33.880 --> 0:43:37.120
<v Speaker 1>what if we back it by gold and in theory

0:43:37.120 --> 0:43:40.600
<v Speaker 1>all the money as a real gold value attached to it,

0:43:40.640 --> 0:43:42.400
<v Speaker 1>and you can even come traded in for gold if

0:43:42.400 --> 0:43:45.799
<v Speaker 1>you want to. Right. So that's that's how we went

0:43:45.880 --> 0:43:48.040
<v Speaker 1>forward for a very long time, and then kind of

0:43:48.080 --> 0:43:50.799
<v Speaker 1>slowly but surely we started to move away from it,

0:43:51.120 --> 0:43:56.239
<v Speaker 1>particularly starting UM in nineteen where the Federal Reserve was

0:43:56.360 --> 0:44:00.319
<v Speaker 1>established UM, which a lot of people, especially ones who

0:44:00.320 --> 0:44:02.080
<v Speaker 1>think we should go to the gold standard and people

0:44:02.080 --> 0:44:04.480
<v Speaker 1>who think that we shouldn't have UM, that there's no

0:44:04.520 --> 0:44:09.040
<v Speaker 1>golden fort Knox believe, kind of ruined the world when

0:44:09.040 --> 0:44:13.880
<v Speaker 1>we established the Federal Reserve UM. And one of the

0:44:13.920 --> 0:44:16.160
<v Speaker 1>first steps that said was like, okay, we need to

0:44:16.200 --> 0:44:20.560
<v Speaker 1>maintain of the value of all of our currency in

0:44:20.680 --> 0:44:24.480
<v Speaker 1>circulation in gold as a as a country, which was

0:44:24.640 --> 0:44:28.440
<v Speaker 1>a lot different from that's a huge amount of money

0:44:28.480 --> 0:44:31.359
<v Speaker 1>that can can now be printed, and more money that's

0:44:31.400 --> 0:44:34.360
<v Speaker 1>out there, more things can be bought because that money

0:44:34.360 --> 0:44:36.960
<v Speaker 1>can be traded for services and goods, and you can

0:44:36.960 --> 0:44:39.040
<v Speaker 1>employ people with it, and all of a sudden, your

0:44:39.040 --> 0:44:41.319
<v Speaker 1>economy can start getting bigger and bigger and bigger. And

0:44:41.320 --> 0:44:44.080
<v Speaker 1>that's exactly what happened. And as that became more and

0:44:44.080 --> 0:44:47.400
<v Speaker 1>more evident, UM, we started moving further and further away

0:44:47.400 --> 0:44:50.680
<v Speaker 1>from from UM the gold standard. Yeah. And like I

0:44:50.719 --> 0:44:53.640
<v Speaker 1>said earlier, kind of joke that Roosevelt, they allowed him

0:44:53.640 --> 0:44:56.680
<v Speaker 1>to urinate in person on the gold Uh. He really

0:44:57.600 --> 0:45:00.359
<v Speaker 1>led the charge in the thirties because of World War

0:45:00.400 --> 0:45:02.759
<v Speaker 1>One and the in the Great Depression, and said, you

0:45:02.800 --> 0:45:04.319
<v Speaker 1>know what, we really kind of need to get away

0:45:04.320 --> 0:45:06.960
<v Speaker 1>from this gold standard officially. And I'm gonna take a

0:45:07.040 --> 0:45:12.640
<v Speaker 1>series of actions weakening that link between gold dollars being

0:45:12.680 --> 0:45:16.240
<v Speaker 1>backed by gold, and you can't exchange it anymore. Everyone,

0:45:16.320 --> 0:45:20.319
<v Speaker 1>So don't even think about that. And not only that,

0:45:20.360 --> 0:45:23.440
<v Speaker 1>you can't hoard gold like we we basically want all

0:45:23.480 --> 0:45:26.919
<v Speaker 1>the gold and all that we want to hang onto it. Yeah.

0:45:26.960 --> 0:45:29.560
<v Speaker 1>And so for a very long time, the only reason

0:45:29.800 --> 0:45:34.040
<v Speaker 1>people maintain gold, or countries maintained gold, or the United

0:45:34.040 --> 0:45:37.960
<v Speaker 1>States maintained gold was to UM to pay off foreign

0:45:38.160 --> 0:45:41.960
<v Speaker 1>debts if need be. Uh. And then Nixon said nuts

0:45:42.000 --> 0:45:45.120
<v Speaker 1>to that in one and from that moment on, the

0:45:45.239 --> 0:45:49.960
<v Speaker 1>United States currency and economy was decoupled from gold and

0:45:49.960 --> 0:45:53.000
<v Speaker 1>it has been ever since. UM. And you again, you

0:45:53.040 --> 0:45:57.839
<v Speaker 1>can look, I'm not a roth child robot oid. I

0:45:57.920 --> 0:46:00.799
<v Speaker 1>just believe in progress, basically. And if you go back

0:46:00.800 --> 0:46:02.680
<v Speaker 1>and look at the world economy and the United States

0:46:02.719 --> 0:46:05.600
<v Speaker 1>economy since nineteen seventy one, it's made some pretty impressive

0:46:05.640 --> 0:46:10.400
<v Speaker 1>gains since then, UM. And that's largely due to decoupling

0:46:10.400 --> 0:46:13.279
<v Speaker 1>from golden being able to print money. Now that said,

0:46:13.320 --> 0:46:15.399
<v Speaker 1>and this is an entirely different podcast that I think

0:46:15.440 --> 0:46:19.239
<v Speaker 1>we need to do. Sometimes there are massive problems with

0:46:19.719 --> 0:46:23.520
<v Speaker 1>paper money, paper currency, what's called fiat currency UM, or

0:46:23.560 --> 0:46:27.759
<v Speaker 1>a fiat system of currency where by fiat by proclamation,

0:46:27.880 --> 0:46:31.040
<v Speaker 1>we say our currency is worth this amount, and that's

0:46:31.040 --> 0:46:33.120
<v Speaker 1>what we do now, which is totally made up and

0:46:33.160 --> 0:46:35.440
<v Speaker 1>totally in the air. But as long as people have

0:46:35.560 --> 0:46:39.800
<v Speaker 1>faith in in the government, in the economy, and the workforce, UM,

0:46:40.239 --> 0:46:43.640
<v Speaker 1>we can survive those ups and downs through that that

0:46:43.640 --> 0:46:48.360
<v Speaker 1>that sense of faith not just among our citizens but

0:46:48.440 --> 0:46:53.120
<v Speaker 1>also people around the world. Understand. Yeah, I mean, let's

0:46:53.160 --> 0:46:55.719
<v Speaker 1>let's just all keep agreeing. Let's keep that pinky swear

0:46:55.800 --> 0:47:00.480
<v Speaker 1>going exactly, so why do well, why do we still

0:47:00.520 --> 0:47:04.560
<v Speaker 1>have Fort Knox? Then if we don't need the gold, well,

0:47:04.600 --> 0:47:08.520
<v Speaker 1>I mean they're not just gonna give it away. You

0:47:08.600 --> 0:47:11.160
<v Speaker 1>still gotta keep it in one in a couple of places, right,

0:47:12.040 --> 0:47:14.000
<v Speaker 1>That's I mean, that's one thing I think there is

0:47:14.040 --> 0:47:16.200
<v Speaker 1>a certain amount of that national pride to even among

0:47:16.239 --> 0:47:18.120
<v Speaker 1>the governments, Like we got we got a bunch of

0:47:18.120 --> 0:47:20.400
<v Speaker 1>gold and it's in Fort Knox, and it's almost like

0:47:20.400 --> 0:47:23.799
<v Speaker 1>symbolic of America's wealth and strength. UM. One thing I

0:47:23.840 --> 0:47:26.360
<v Speaker 1>did see is there are like lots of other countries

0:47:26.400 --> 0:47:30.480
<v Speaker 1>have lots of other gold hordes themselves. And although the

0:47:30.520 --> 0:47:33.560
<v Speaker 1>gold market is basically separate, it's like its own thing.

0:47:33.680 --> 0:47:38.600
<v Speaker 1>That's you know, it responds and reacts to the UM,

0:47:38.640 --> 0:47:42.160
<v Speaker 1>the stock exchanges, UM and other markets, but it's not

0:47:42.320 --> 0:47:44.600
<v Speaker 1>it's not you know, entangled with It's its own thing.

0:47:44.920 --> 0:47:47.839
<v Speaker 1>So really, if you UM released a bunch of gold,

0:47:47.880 --> 0:47:49.560
<v Speaker 1>you're really going to mess with the gold market. But

0:47:49.600 --> 0:47:53.160
<v Speaker 1>it's gonna have a ripple effect through the through the world, UM,

0:47:53.400 --> 0:47:57.480
<v Speaker 1>then the other markets in the global economy. So it

0:47:57.520 --> 0:47:59.959
<v Speaker 1>would be really foolish to release a bunch of gold

0:48:00.000 --> 0:48:02.480
<v Speaker 1>old onto the market for the US to sell or

0:48:02.520 --> 0:48:04.719
<v Speaker 1>any country to sell its gold hordes off. It would

0:48:04.719 --> 0:48:07.279
<v Speaker 1>be a real big problem that you don't need to have.

0:48:07.400 --> 0:48:11.440
<v Speaker 1>It's easier to just keep the gold in Fort Knox. Instead, agreed,

0:48:13.120 --> 0:48:15.239
<v Speaker 1>that's why it's still around. You're not. This turned out

0:48:15.239 --> 0:48:18.319
<v Speaker 1>to be a pretty good aside from Socca juwillyah, And

0:48:18.360 --> 0:48:23.160
<v Speaker 1>now I'm wondering if I even pronounced wampum correctly. Well,

0:48:23.280 --> 0:48:27.080
<v Speaker 1>how humiliating Chuck Wampum was the real thing? You know? Uh,

0:48:27.120 --> 0:48:29.319
<v Speaker 1>if you want to know more about Fort Knox and

0:48:29.400 --> 0:48:31.319
<v Speaker 1>start looking at pictures of it, you'll you'll see what

0:48:31.320 --> 0:48:33.360
<v Speaker 1>we're talking about. And since I said you'll see what

0:48:33.400 --> 0:48:38.480
<v Speaker 1>we're talking about, it's time for listener mail. I'm gonna

0:48:38.640 --> 0:48:42.960
<v Speaker 1>call this wet Lands follow up uh from Donna. Hey, guys,

0:48:43.000 --> 0:48:45.040
<v Speaker 1>been listening for many years and always enjoy the shows

0:48:45.040 --> 0:48:48.120
<v Speaker 1>in the banter. Today, out of my morning walk, I

0:48:48.160 --> 0:48:53.000
<v Speaker 1>was listening to Wetlands, Wetlands, Wetlands, and serendipitously came upon

0:48:53.239 --> 0:48:57.080
<v Speaker 1>cat tails just as you brought them up. Wow, we

0:48:57.160 --> 0:49:00.799
<v Speaker 1>love this stuff, these coincidences. And She's like, no, I'm

0:49:00.840 --> 0:49:03.360
<v Speaker 1>listening to the Four Knocks episode, so laid on me

0:49:03.920 --> 0:49:07.239
<v Speaker 1>I'm tunnel I'm tunneling in as we speak. It was

0:49:07.280 --> 0:49:09.400
<v Speaker 1>one of those weird coincidence moments that I just had

0:49:09.440 --> 0:49:12.000
<v Speaker 1>to record. I walked off the path into the grasses

0:49:12.040 --> 0:49:15.040
<v Speaker 1>and took a quick cat tail selfie, which I included

0:49:15.040 --> 0:49:18.680
<v Speaker 1>in this email. Lovely picture. Growing up in New Jersey

0:49:18.840 --> 0:49:22.200
<v Speaker 1>in the eighties, cat tails were called punks, and my

0:49:22.280 --> 0:49:25.000
<v Speaker 1>dad would take the dried out plants and light them

0:49:25.360 --> 0:49:28.440
<v Speaker 1>to keep away mosquitoes. That's where the punk is. Yeah,

0:49:28.480 --> 0:49:29.840
<v Speaker 1>I've never heard of that. Have you heard of that?

0:49:30.520 --> 0:49:33.320
<v Speaker 1>Uh huh? I never heard of that. Back then, it

0:49:33.360 --> 0:49:35.080
<v Speaker 1>seemed like a normal thing to do. But having grown

0:49:35.160 --> 0:49:38.480
<v Speaker 1>up moved away from New Jersey, who I have never

0:49:38.520 --> 0:49:41.840
<v Speaker 1>come across anyone that ever partakes in this practice anymore.

0:49:42.120 --> 0:49:43.960
<v Speaker 1>It was such a huge part of my childhood summers.

0:49:43.960 --> 0:49:46.920
<v Speaker 1>I'd forgotten about it until now until listening to the episode,

0:49:47.000 --> 0:49:50.040
<v Speaker 1>and then I happened to walk upon some in the

0:49:50.040 --> 0:49:54.000
<v Speaker 1>adjacent Mark Marshes in That moment truly delighted me. Mosquito

0:49:54.040 --> 0:49:55.800
<v Speaker 1>season is over where I live now in d C.

0:49:56.200 --> 0:49:58.640
<v Speaker 1>But on next summer's to do list is to cut

0:49:58.719 --> 0:50:01.440
<v Speaker 1>some cat tails from the park end and introduce my

0:50:01.520 --> 0:50:05.560
<v Speaker 1>two teen sons to that distinctive punk smell that made

0:50:05.560 --> 0:50:10.080
<v Speaker 1>me against federal law. Now though, oh, really taking punks

0:50:10.120 --> 0:50:14.000
<v Speaker 1>from the park land it seems like against the law. Well,

0:50:14.000 --> 0:50:16.640
<v Speaker 1>i'll tell you what, Donna H. Look into that. We

0:50:16.680 --> 0:50:19.279
<v Speaker 1>don't want you to get in trouble, that's right, or

0:50:19.320 --> 0:50:21.799
<v Speaker 1>to do anything you shouldn't do. But I get the

0:50:21.920 --> 0:50:24.960
<v Speaker 1>urge to want to introduce things to your children that

0:50:25.080 --> 0:50:28.719
<v Speaker 1>you did back then that weren't necessarily proper. But the

0:50:28.800 --> 0:50:31.400
<v Speaker 1>nanny state will say no and throw you in jail.

0:50:31.560 --> 0:50:33.959
<v Speaker 1>So don't try it, Donna. Yeah, maybe, I mean where

0:50:34.000 --> 0:50:36.040
<v Speaker 1>I saw the wetlands recently where I was hiking here

0:50:36.040 --> 0:50:39.640
<v Speaker 1>in Arabia Mountain. You can't beautiful granite outcroppings part of

0:50:39.680 --> 0:50:43.000
<v Speaker 1>Stone Mountain actually, and you can't. My daughter wanted to

0:50:43.000 --> 0:50:44.719
<v Speaker 1>take those rocks. As if you can't take the rocks,

0:50:44.719 --> 0:50:47.480
<v Speaker 1>we get thrown in jail by the nanny state. You

0:50:47.560 --> 0:50:51.120
<v Speaker 1>can't do it. You gotta leave those rocks. Um, what

0:50:51.160 --> 0:50:53.160
<v Speaker 1>else did Donna say anything else? Now? That's it. That's

0:50:53.160 --> 0:50:55.960
<v Speaker 1>from Donna H. That was great, Donna, thank you very much.

0:50:56.000 --> 0:50:58.640
<v Speaker 1>Be careful with the cattails. We won't tell if you do,

0:50:58.719 --> 0:51:01.480
<v Speaker 1>but we just don't want you to get in trouble. Um.

0:51:01.480 --> 0:51:04.279
<v Speaker 1>We're no snitches. Uh. If you want to get in

0:51:04.320 --> 0:51:06.680
<v Speaker 1>touch with us like Donna did, Uh, we want to

0:51:06.719 --> 0:51:08.600
<v Speaker 1>hear from you, and you can send us an email

0:51:08.719 --> 0:51:15.360
<v Speaker 1>to Stuff podcast at i heeart radio dot com. Stuff

0:51:15.400 --> 0:51:17.359
<v Speaker 1>you Should Know is a production of iHeart Radios How

0:51:17.360 --> 0:51:20.120
<v Speaker 1>Stuff Works. For more podcasts for my heart Radio, visit

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