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Speaker 1: Hey, everybody, it's me Josham. For this week's select I've

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Speaker 1: chosen our episode on All the Golden Fort Knox from

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Speaker 1: November of twenty twenty. One of the most surprising things

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Speaker 1: we learned to this episode isn't that there might not

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Speaker 1: be any gold left in Fort Knox. There most likely

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Speaker 1: is plenty in there, but that because of the size

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Speaker 1: of our economy, it doesn't really matter at this point

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Speaker 1: if it's there or not. Hope you enjoy this brainbuster

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Speaker 1: of an episode.

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Speaker 2: Welcome to Stuff You Should Know, a production of iHeartRadio.

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Speaker 1: Hey, and welcome to the podcast. I'm Josh Clark, and

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Speaker 1: there's Charles w Chuck Bryant and Jerry's out there somewhere,

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Speaker 1: and this is stuff you should know. Carrot plated gold edition.

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Speaker 2: Gold plated.

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Speaker 1: Isn't that what happens? Like if you put a bunch

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Speaker 1: of gold together, it means more carrots?

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Speaker 2: I think so. I'm afraid to doubt you, though, because

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Speaker 2: I had a movie crusher say that. All I do

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Speaker 2: lately is say you're wrong to you.

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Speaker 1: What do they mean lately?

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Speaker 2: I know, I don't know.

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Speaker 1: They must be a newcomer to the podcast.

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Speaker 2: It's dressing is Josh is all the time lately, Josh

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Speaker 2: makes really good points, and all Chuck does is pupu

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Speaker 2: it by just saying, no, you're wrong. It's like, has

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Speaker 2: that even happened once?

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Speaker 1: If it makes you I'm sure it's happened more than once.

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Speaker 1: But if it makes you feeling better I haven't noticed,

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Speaker 1: then that's what really counts, don't you think. Yeah, I guess,

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Speaker 1: although there are like a million plus people listening, so

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Speaker 1: I guess their opinions count as well.

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Speaker 2: You're wrong.

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Speaker 1: Oh man, you know what's funny is I didn't even

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Speaker 1: see that coming, Chuck.

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Speaker 2: Oh see there.

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Speaker 1: Yeah, that was good, good stuff. And I almost just

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Speaker 1: said the ES word. That was good stuff.

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Speaker 2: You're wrong, it was mediocre.

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Speaker 1: Let's just do this for forty five minutes.

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Speaker 2: Yeah, no, let's do a real podcast episode. This is interesting.

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Speaker 2: All I could think about was heist movies.

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Speaker 1: Oh really, I don't know what I thought about. I

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Speaker 1: think I was kind of stuck in the thirties. I

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Speaker 1: just thought of everything's kind of old timey and quaint,

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Speaker 1: all right, because it's kind of in a way where

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Speaker 1: the story really kicks off the story of Fort Knox.

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Speaker 1: In case anybody's listening, and didn't check the title.

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Speaker 2: Oh, I thought we were doing an episode on the

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Speaker 2: United States Bullion Depository, Buddy.

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Speaker 1: That is the same exact thing in a lot of ways,

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Speaker 1: but actually they're different too. Let's talk about this, right, So,

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Speaker 1: for anybody who is outside of the United States, and

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Speaker 1: I would wager that a lot of you, I'd wager

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Speaker 1: all the golden Fort Knox, that a lot of you

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Speaker 1: are very familiar with Fort Knox, because it does seem

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Speaker 1: to be kind of like this world famous place where

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Speaker 1: the United States hoards its gold and it's just totally impenetrable,

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Speaker 1: so don't even try. But there's also like a lot

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Speaker 1: of conspiracy theories too that there's no gold in there.

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Speaker 1: And we'll talk about all this and why there's golden

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Speaker 1: there too, but I feel like we should at least

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Speaker 1: give like a background on Fort Knox and the ins

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Speaker 1: and outs of it, don't you.

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Speaker 2: Yeah. In nineteen oh three, this is where it all started.

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Speaker 2: The US Army said, you know what, I think we

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Speaker 2: need some training ground out here in Kentucky, in West Point, Kentucky.

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Speaker 1: And everybody said, why, Yeah.

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Speaker 2: I don't know good as place as any I guess, okay,

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Speaker 2: And they use that area. They got a few counties

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Speaker 2: to kindly hand them over some land, and they use

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Speaker 2: that area for training and stuff. Made it a permanent

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Speaker 2: training camp in nineteen eighteen, and then named it after

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Speaker 2: Henry Knox, a Revolutionary War officer, as Camp Knox. And

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Speaker 2: someone very quickly said, that doesn't sound at all tough.

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Speaker 2: It sounds like children belong here and people are roasting s'mores.

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Speaker 1: So that's always going to say.

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Speaker 2: How about Fort Knox.

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Speaker 1: It seems like all the best fort started out as camps.

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Speaker 2: Yeah, so they said short. In nineteen thirty two, it

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Speaker 2: became officially Fort Canucks.

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Speaker 1: Right, nice one. So yeah, so it started out as

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Speaker 1: a legit army base. But then eventually in the thirties,

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Speaker 1: which is why I've been stuck in the thirties because

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Speaker 1: so much of the story takes place there, the United

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Speaker 1: States Mint said, hey, we could use a new spot

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Speaker 1: to store some gold, because we got a lot of

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Speaker 1: gold and this isn't even all of it, but we

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Speaker 1: need a new spot to store some gold. And they

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Speaker 1: actually took possession of part of Fort Knox and built

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Speaker 1: what's known as, like you said, the United States Bullion

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Speaker 1: Depository there in Kentucky, and it is legitimately Fort Knox

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Speaker 1: is now not just the Army Camp. Even more famously,

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Speaker 1: it is really what you officially would call the United

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Speaker 1: States Bullion Depository.

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Speaker 2: Yeah, and the camp is still there, and some say

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Speaker 2: it is there as sort of a a means of

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Speaker 2: maybe intimidation maybe back up, like, hey, there's an army

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Speaker 2: camp right next door. But they know also asked to

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Speaker 2: borrow that name because it sounded tougher than the Bullion Depository,

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Speaker 2: and they said, sure, you can go ahead and just

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Speaker 2: call that building Fort Knox as well. And that's where

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Speaker 2: we moved, well not all of it, but we had

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Speaker 2: a lot of gold at the time, as you were saying,

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Speaker 2: and it was it was a little unnerving, I think,

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Speaker 2: to have most of the gold and the country stored

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Speaker 2: in Philadelphia, the mint there and in New York because

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Speaker 2: it was so close to the coast, and if some

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Speaker 2: warring nation wanted to invade us and grab our gold,

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Speaker 2: then they wouldn't have far to go to get it

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Speaker 2: onto a boat.

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Speaker 1: Yeah, oh truly, which is you know, pretty sensible, really,

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Speaker 1: and I never really thought about that. But New York's

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Speaker 1: not very far from water, and neither is Philly, so

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Speaker 1: why not. So they decided to move as much as

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Speaker 1: they could, and there was silver moved too. There was

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Speaker 1: a lot of stockpiles of silver that we're not even

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Speaker 1: going to bother with in this story because silver we're

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Speaker 1: talking gold here. Yeah, And they moved a lot of

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Speaker 1: it to Denver, and they very quickly said, well, the

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Speaker 1: Denver Mint's a great place because it's protected from the

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Speaker 1: from the Pacific Ocean by the Rocky mountains, which make

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Speaker 1: that makes it much more difficult for an invading army

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Speaker 1: to come in from the Pacific and steal it. But

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Speaker 1: we've run out of space and we need some more

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Speaker 1: space for all the spill over gold. And that's when

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Speaker 1: they decided to build a Fort Knox, which in Kentucky

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Speaker 1: is protected from the Atlantic Ocean by the Appalachian Mountain.

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Speaker 1: So it's pretty pretty clever. Why they why they chose

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Speaker 1: Fort Knox.

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Speaker 2: Yeah, So the Treasury, like you said, took control of

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Speaker 2: that land in thirty six, and then in thirty seven

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Speaker 2: they I mean, they started building you know there. You know,

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Speaker 2: they couldn't just keep it intense even though those intimidating

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Speaker 2: Appalachian Mountains were right there. They're like, we need a

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Speaker 2: building here. So they built a building over just a

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Speaker 2: few months.

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Speaker 1: It's impressive.

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Speaker 2: Yeah, cost about a half a million bucks. And in

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Speaker 2: nineteen thirty seven they said, we're open for business, bring

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Speaker 2: that gold from New York City.

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Speaker 1: They didn't. They they did it the way, exactly the

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Speaker 1: way that you would think they would do it. They

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Speaker 1: had a lot of they had a secret location where

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Speaker 1: they were loading it. They sent a bunch of trains

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Speaker 1: out that were decoys. And it didn't all happen at once.

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Speaker 1: It wasn't one shipment that made its way from New

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Speaker 1: York and Philadelphia over to Kentucky.

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Speaker 2: It would have been in the movie, I think, exactly.

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Speaker 1: Yeah, But it happened like actually in many shipments over

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Speaker 1: several years. But supposedly they did it like sometimes darkness

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Speaker 1: of nights, and there was decoys and they were always

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Speaker 1: protected by a number of groups from the Post Office

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Speaker 1: inspectors that are licensed to carry guns. Which would I

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Speaker 1: hate to say it, everybody, but that's the one that

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Speaker 1: you would try to hijack if you were going to hijack.

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Speaker 2: Yeah, I mean all the way to be honest.

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Speaker 1: I like, yeah, right, yes, chuck, all the way to

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Speaker 1: the army, you know, which I would I would probably

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Speaker 1: not try to hijack that one. If I were going

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Speaker 1: to hijack one, which I wouldn't do, it would probably

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Speaker 1: be the Postal inspector one.

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Speaker 2: Yeah, and you know, I'm sure that they've someone has

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Speaker 2: written a movie treatment at some point for a nineteen

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Speaker 2: thirty seven train on the way to Fort Knox heist

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Speaker 2: type of thing, right, and they surely would have cast

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Speaker 2: those poor post office gun slingers is the likely train,

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Speaker 2: those poor guys.

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Speaker 1: So we've got the gold shown up at Fort Knox,

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Speaker 1: and the thing is is, like this was like people

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Speaker 1: knew about this. It wasn't done in secret, Like this

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Speaker 1: this is known about and I think I get the

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Speaker 1: impression that the reason that it was talked about in discussed,

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Speaker 1: and there were like little tidbits here there in the

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Speaker 1: in the popular media to give this idea like Okay,

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Speaker 1: yes we're moving this gold, but like, don't even try it,

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Speaker 1: Like here's just enough that you need to know to

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Speaker 1: not even come anywhere near this place. And over the years,

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Speaker 1: little tidbits have kind of been released here there that

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Speaker 1: give a pretty complete picture of what you would be

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Speaker 1: dealing with if you did, in fact, try to impregnate

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Speaker 1: Fort Knox.

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Speaker 2: Oh, pretty sexy. So first of all, you can't just

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Speaker 2: take a tour, and you can tour almost anything in

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Speaker 2: this country except for Fort Knox.

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Speaker 1: Even if you were a sitting congress person, the chances

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Speaker 1: are you're probably not going to get a tour.

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Speaker 2: Yeah, I mean, if ed is correct here who helped

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Speaker 2: us put this together? There have only been three official tours,

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Speaker 2: Is that right?

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Speaker 1: Yeah, that's what I saw. So there's there was one

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Speaker 1: from FDR himself, which is pretty understandable. Sure, there was

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Speaker 1: one in the seventies, which we'll talk about, which made sense,

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Speaker 1: but it was a congressional delegation. And then I think

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Speaker 1: in twenty seventeen, Steven Mnusan and a delegation toured it.

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Speaker 1: So there's at least three, but those are the three

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Speaker 1: that we know about. There may have been more, but

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Speaker 1: I would think they would kind of publicize that because

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Speaker 1: the whole point of being a delegate to tour of

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Speaker 1: Fort Knox is to basically reassure the public there's a

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Speaker 1: lot of gold in there. Don't even worry about. Yes,

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Speaker 1: the gold's there. That's pretty much the reason why anybody

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Speaker 1: gets a tour of Fort Knox.

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Speaker 2: I wonder if they let FDR in just to say, hey,

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Speaker 2: you might as well just urinate on this golden person,

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Speaker 2: because that's what you're about to do with policy.

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Speaker 1: That's probably what happened.

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Speaker 2: We'll get through that later with the gold standard, And

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Speaker 2: of course you didn't urinate on it. Even with policy,

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Speaker 2: you don't know.

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Speaker 1: You can't ever tell what that FDR.

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Speaker 2: So here's a bunch of things, and this next bit

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Speaker 2: is going to be just sort of a lot of

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Speaker 2: the facts and figures that we know and we've gleaned

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Speaker 2: over the years. Some comes from official releases, some comes

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Speaker 2: from an old nineteen thirties issue of Popular Mechanics, which

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Speaker 2: is kind of cool. But should we take a break first?

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Speaker 1: Oh? Sure, man, Yeah, I think that's a great cliffhanger.

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Speaker 2: Right, great, we'll be right back alrighty, So we promised

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Speaker 2: you stats and figures about Fort Knox.

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Speaker 1: And nineteen thirties issues of Popular Mechanics.

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Speaker 2: I know, how's this for you? The vault requires, of course,

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Speaker 2: multiple people to open it up, and each person nobody

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Speaker 2: knows the entire combination. Each person knows only a part

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Speaker 2: of it. And even if you got it open, there's

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Speaker 2: a one hundred hour time delay lock, so you got

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Speaker 2: to wait. If you have them at gunpoint and you

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Speaker 2: all force and you force them all to open it,

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Speaker 2: you got to sit around and wait for four days,

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Speaker 2: no matter what.

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Speaker 1: That's my favorite one.

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Speaker 2: It's pretty great, m h.

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Speaker 1: That and the fact that it's really just artificial intelligence

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Speaker 1: from the future is the only one that has the

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Speaker 1: entire combination in its possession. What else, Well, let's see,

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Speaker 1: the vault itself is actually inside a building. So you

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Speaker 1: remember in our Alcatraz episode where the cell blocks were

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Speaker 1: buildings inside of the larger prison building. Yeah, that's exactly

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Speaker 1: the same thing, and not coincidentally, they were built around

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Speaker 1: the same time, so I think there was that kind

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Speaker 1: of you know, impenetrable building within an impenetrable building in

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Speaker 1: the zone geist kind of thing going on. And the

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Speaker 1: only way, the only place the vault and that building

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Speaker 1: are connected is on the floor. But don't even think

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Speaker 1: of coming up from under the floor, because the flooring

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Speaker 1: is two feet thick of granite, which you are not

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Speaker 1: going to get through even if you successfully dug under.

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Speaker 1: And I'll just go ahead and tell you why you

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Speaker 1: would not be able to successfully dig under the building

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Speaker 1: from the outside. Is because you have barrier after barrier

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Speaker 1: after fence after razor wire separating you from the building.

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Speaker 1: There's a huge blank field around the building, so it's

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Speaker 1: not very easy to kind of walk up to it.

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Speaker 1: And they apparently have said that the field around the

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Speaker 1: building is a minefield, which means that they apparently studied

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Speaker 1: cartoons to design Fort Knox, which I love.

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Speaker 2: They're like, what would wile E Coyota do?

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Speaker 1: Exactly?

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Speaker 2: Yeah, it is, I mean it's it's definitely worth googling

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Speaker 2: a like an aerial image of this building. It's pretty interesting.

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Speaker 2: I mean it does. It sits out in the middle

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Speaker 2: of nothing in this big flat area, and there's like

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Speaker 2: a circular driveway around it. And you know, it's made

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Speaker 2: of what you think it's made of, which is granite

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Speaker 2: and concrete and steel. They said that the walls are

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Speaker 2: also two feet in thickness, and inside those walls are

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Speaker 2: fabricated steel coils that are so closely smushed together that

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Speaker 2: they say a human hand can't even get between them. Right,

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Speaker 2: So you need a baby or a child.

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Speaker 1: You need a baby in so you got to bring

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Speaker 1: a baby. You have to bring diapers and food to

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Speaker 1: last the maybe four days until the time Locke comes.

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Speaker 2: Yeah.

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Speaker 1: Of course, don't forget a gun to hold people off with. Yeah,

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Speaker 1: and probably some people you don't like to send through

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Speaker 1: the minefield the clear path for you.

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Speaker 2: Yeah, and you got to get one of those diaper

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Speaker 2: genies to put the diaper in, otherwise it's smell in there.

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Speaker 1: Oh man, it would smell so bad in that little building.

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Speaker 2: Here's another cool thing. Well, the whole building isn't huge.

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Speaker 2: I mean it's it's not small. It's ten thousand square feet,

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Speaker 2: but it's not I don't know. You think of Fort

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Speaker 2: Knox and you think of something the size of like

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Speaker 2: a maximum security prisoner or something like that. It's not huge.

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Speaker 2: But the building inside the building, so the vault inside

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Speaker 2: has an eighteen inch space clear on every side, and

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Speaker 2: they have all these mirrors everywhere. And of course now

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Speaker 2: they have real cameras. I guess this was from the

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Speaker 2: popular mechanics pre camera. You just use mirrors to make

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Speaker 2: sure that you could see every square inch of this thing. Yeah.

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Speaker 1: So if you did somehow manage to get inside the vault,

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Speaker 1: the people who whose job it is is to watch

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Speaker 1: the vault would see you immediately, and they ostal service

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Speaker 1: workers yeah. Yeah, they would just start, you know, lobbing

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Speaker 1: dead letter off as packages at you until you got

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Speaker 1: annoyed and left.

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Speaker 2: And of course there's heavy artillery. There are four corner

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Speaker 2: machine gun turrets essentially on the outer building, just looking down.

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Speaker 1: So I'm sorry, I was confused. Is that on the

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Speaker 1: outer building or is that part of the vault?

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Speaker 2: I think that's outside?

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Speaker 1: Okay, I don't know. I couldn't quite tell, and I

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Speaker 1: didn't see it outside. Did you see him outside?

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Speaker 2: Well, I mean I saw I mean I didn't see

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Speaker 2: any really close ups. Everything was kind of an aerial

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Speaker 2: and I did see what looked like corner turrets, but

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Speaker 2: maybe they are inside. Okay, I don't know if i'd

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Speaker 2: be shooting up machine guns inside of granite room.

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Speaker 1: Yeah, that's actually probably a pretty bad idea.

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Speaker 2: I mean, I've seen Wiley Cody too. Those bullets bounce.

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Speaker 1: All over the re place. That's right. So you've also

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Speaker 1: got a door to contend with. So so far you've

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Speaker 1: got two feet thick everything to get through, which means

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Speaker 1: that your best bet is to go through the door

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Speaker 1: because rather than twenty four inches, it's only twenty one

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Speaker 1: inches thick. But you should probably be dissuaded by the

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Speaker 1: fact that it's blast, drill and torch proof, said the

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Speaker 1: US MINT director from back in twenty sixteen, Philip Deal.

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Speaker 2: Yeah, and again this is all under the banner of

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Speaker 2: don't even think about it, buddy. Right between the there's

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Speaker 2: a corridor that encircles the vault and then the outer

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Speaker 2: wall of the building. They do have some offices. I

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Speaker 2: guess that's where Dottie the secretary has been since nineteen

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Speaker 2: fifty something, answering.

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Speaker 1: For Danny or Danny.

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Speaker 2: That's true. I don't think they gave jobs like that

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Speaker 2: to Danny in the nineteen fifties.

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Speaker 1: Okay, maybe not in the fifties. That's fine. But I

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Speaker 1: got called out for letting that stooge's comment pass, and

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Speaker 1: I'm not gonna I'm not going on the grill again

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Speaker 1: for you, pal.

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Speaker 2: What the ladies don't like the Three Stages?

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Speaker 1: We got not one, not two, but thrice emails about that,

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Speaker 1: and most of them were not happy.

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Speaker 2: Well, actually two of the three were very fun about

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Speaker 2: it and said that they love the three stooges.

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Speaker 1: But yes, but they weren't happy.

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Speaker 2: One I couldn't tell, and I wrote her back and

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Speaker 2: it was like I can't tell if you're really mad. Well,

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Speaker 2: and I said, but I said, I was just, uh,

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Speaker 2: if you google women don't like three stooges, it's a

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Speaker 2: it's a trope. I mean, it's a familiar trope. I

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Speaker 2: wasn't like inventing some sexist thing. I was just kind

343
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Speaker 2: of funning around with it.

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Speaker 1: Yeah, it's like everybody not liking Detroit or Kentucky like google.

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Speaker 2: That, right, or google women don't like Rush the band.

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Speaker 1: Hey, hey, hey, let's just let's bail out of this

347
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Speaker 1: while we still have our limb.

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Speaker 2: No, people can likely like. But trust me, I've been

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Speaker 2: to a Rush concert and there was there's a lot

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Speaker 2: of masculinity in that room.

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Speaker 1: What year was that, because I'll bet I was at

352
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Speaker 1: the same concert depending I went to.

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Speaker 2: It must have been eighty eight or eighty nine.

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Speaker 1: Oh no, I wasn't not that one.

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Speaker 2: Okay, yeah you were.

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Speaker 1: This would have been maybe like ninety two, ninety three.

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Speaker 2: We just missed each other.

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Speaker 1: Yeah, just by a few years. Had I just hung

359
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Speaker 1: out at the Omni for three or four more years

360
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Speaker 1: or had you, we would have passed EACHO.

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Speaker 2: But you're right, Women like all sorts of things, and

362
00:19:04,359 --> 00:19:05,639
Speaker 2: men like all sorts of things.

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Speaker 1: That's right. And Danny and Dottie can both be secretaries,

364
00:19:09,000 --> 00:19:11,560
Speaker 1: that's right. And we don't even call them secretaries anymore, Chuck,

365
00:19:11,600 --> 00:19:16,080
Speaker 1: we should just stop podcasting altogether. We have aged out

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Speaker 1: of it.

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Speaker 2: So to me, the only way in would be the

368
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Speaker 2: escape tunnel.

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Speaker 1: Yes, which they thought of that. They realized that. They

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Speaker 1: actually put a tunnel underground that you could use to

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Speaker 1: get into the depository, the actual vault, which they installed

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Speaker 1: in case somebody got locked in there, which I'm really

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Speaker 1: surprised they even installed that or designed that in there.

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Speaker 1: I would think like, if you have people guarding it

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Speaker 1: as closely as it's being guarded all the time, that

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Speaker 1: if you got locked in there, they could let you out.

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Speaker 1: They just give you food or something through those those

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Speaker 1: slots that for the four days.

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Speaker 2: Yeah, or.

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00:20:00,280 --> 00:20:03,480
Speaker 1: That's an even better idea, actually, now that you mentioned it,

381
00:20:03,720 --> 00:20:05,399
Speaker 1: but now they didn't do that. They actually put an

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Speaker 1: escape tunnel in so that you can crawl out. It's

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00:20:08,680 --> 00:20:11,280
Speaker 1: not like a pleasant walk or anything. You crawl like

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Speaker 1: through this tunnel and then out into the minefield basically,

385
00:20:14,400 --> 00:20:16,880
Speaker 1: but the door that you reach that lets you outside

386
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Speaker 1: only opens from the inside. It's impossible to open from

387
00:20:21,080 --> 00:20:24,080
Speaker 1: the outside, which I take to mean it doesn't have

388
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Speaker 1: a doorknob on the outside, and then it's guarded twenty

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Speaker 1: four to seven by people who are ready to just

390
00:20:31,359 --> 00:20:33,600
Speaker 1: shoot you up if you try to approach this door

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Speaker 1: with your own doorknob that you brought to open it

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Speaker 1: from the outside.

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Speaker 2: Right, because you're not going to come in here with

394
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Speaker 2: a presumably a freight train to steal all this gold.

395
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Speaker 1: Where are you going to put the tracks? You can't

396
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Speaker 1: do it?

397
00:20:47,440 --> 00:20:48,840
Speaker 2: Are you going to get that gold out of there?

398
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Speaker 1: I just love the fact that we're trying to you know,

399
00:20:52,320 --> 00:20:56,560
Speaker 1: we're doing a podcast in twenty twenty explaining and dissuading

400
00:20:56,600 --> 00:21:00,239
Speaker 1: people from trying to get into Fort Knox. I mean,

401
00:21:00,240 --> 00:21:03,400
Speaker 1: it's just so like seventies to me, or thirties or fifties,

402
00:21:03,440 --> 00:21:04,439
Speaker 1: you know. I love it.

403
00:21:04,800 --> 00:21:06,880
Speaker 2: The other cool thing is is that it can go

404
00:21:06,960 --> 00:21:11,200
Speaker 2: off grid, has its own water and power. So if

405
00:21:11,240 --> 00:21:14,360
Speaker 2: you you know, in the movie version, of course, once

406
00:21:14,400 --> 00:21:16,720
Speaker 2: again I would think you would try and knock it

407
00:21:16,760 --> 00:21:20,920
Speaker 2: off the line somehow get those cameras down, but they say, no, no, no,

408
00:21:20,960 --> 00:21:24,400
Speaker 2: we have those generators. We can live off grid. There's

409
00:21:24,440 --> 00:21:26,800
Speaker 2: a gun range in the basement, So if you want

410
00:21:26,840 --> 00:21:28,480
Speaker 2: to brush up on your machine gunning down there, you

411
00:21:28,520 --> 00:21:28,919
Speaker 2: can do that.

412
00:21:29,880 --> 00:21:33,240
Speaker 1: No, that's kind of like a little line yap to

413
00:21:33,280 --> 00:21:35,719
Speaker 1: the whole thing. Like, by the way, these guys are

414
00:21:35,760 --> 00:21:39,840
Speaker 1: training with guns downstairs in the basement for fun because

415
00:21:39,840 --> 00:21:42,240
Speaker 1: they've got nothing else to do. They're just waiting for

416
00:21:42,320 --> 00:21:42,800
Speaker 1: you to come.

417
00:21:43,000 --> 00:21:43,160
Speaker 2: Now.

418
00:21:43,160 --> 00:21:45,960
Speaker 1: Who is guarding it though, from what I understand their

419
00:21:46,000 --> 00:21:46,800
Speaker 1: treasury agents?

420
00:21:46,880 --> 00:21:47,440
Speaker 2: Right, yeah.

421
00:21:47,440 --> 00:21:50,439
Speaker 1: The army can be called in if needed, because again

422
00:21:50,680 --> 00:21:52,120
Speaker 1: it's like right there.

423
00:21:52,080 --> 00:21:55,960
Speaker 2: Yeah, the US Mint Police Force. Yeah, which I imagine is

424
00:21:57,000 --> 00:21:58,520
Speaker 2: it's probably a pretty cool gig to have.

425
00:22:00,280 --> 00:22:01,919
Speaker 1: I don't know where they would have come up, but

426
00:22:01,960 --> 00:22:05,040
Speaker 1: I swear we've mentioned that they exist before.

427
00:22:05,400 --> 00:22:07,840
Speaker 2: It seems familiar to me. Have we done this all before?

428
00:22:08,680 --> 00:22:10,200
Speaker 1: No, we haven't done this one, but we have talked

429
00:22:10,200 --> 00:22:13,920
Speaker 1: about money and currency before. Yeah, And I feel like

430
00:22:14,640 --> 00:22:17,600
Speaker 1: where that's where we're at. Don't you like that? Maybe

431
00:22:17,600 --> 00:22:21,240
Speaker 1: we should talk about the gold itself, because I mean, yes,

432
00:22:21,280 --> 00:22:23,360
Speaker 1: it's cool that there's a twenty one inch blast door

433
00:22:23,440 --> 00:22:26,760
Speaker 1: and there's a door that only opens from the inside

434
00:22:27,480 --> 00:22:29,920
Speaker 1: and the escape tunnel. But I think what everybody's really

435
00:22:29,920 --> 00:22:31,919
Speaker 1: fascinated with as much as anything, is the fact that

436
00:22:31,960 --> 00:22:36,000
Speaker 1: there is a lot of gold inside of four knox.

437
00:22:36,320 --> 00:22:39,280
Speaker 2: Yeah, and this will kind of hit home too. If

438
00:22:39,280 --> 00:22:41,760
Speaker 2: you've ever seen movies where you're bringing gold out of

439
00:22:41,760 --> 00:22:45,400
Speaker 2: a place in a duffel bag, those gold bars weigh

440
00:22:45,520 --> 00:22:49,639
Speaker 2: almost twenty eight pounds apiece, just one, Yeah, just one

441
00:22:49,680 --> 00:22:52,359
Speaker 2: of those things. So if you see people throwing them

442
00:22:52,400 --> 00:22:56,280
Speaker 2: around in a movie or putting ten of them fifteen

443
00:22:56,280 --> 00:22:58,040
Speaker 2: of them in a duffel bag and slinging it over

444
00:22:58,080 --> 00:23:00,840
Speaker 2: their shoulder, that is not realistic at all. They're seven

445
00:23:00,880 --> 00:23:04,200
Speaker 2: inches long, three and five eighths inches wide, one in

446
00:23:04,240 --> 00:23:07,800
Speaker 2: three quarters inches thick, and weigh twenty seven point five pounds.

447
00:23:07,520 --> 00:23:11,600
Speaker 1: Each, yeah, or four hundred troy ounces. If you know

448
00:23:11,640 --> 00:23:14,600
Speaker 1: what that means. I have no idea, and I think

449
00:23:14,600 --> 00:23:19,240
Speaker 1: it's what about ten twelve kilos a piece for those

450
00:23:19,280 --> 00:23:22,080
Speaker 1: of you who aren't listening in the US and the

451
00:23:22,119 --> 00:23:24,600
Speaker 1: weird thing, I didn't realize this, but as far as

452
00:23:24,680 --> 00:23:27,240
Speaker 1: the Treasury is concerned, and to me, this really kind

453
00:23:27,280 --> 00:23:31,920
Speaker 1: of goes to demonstrate like how little the actual value

454
00:23:32,240 --> 00:23:36,080
Speaker 1: of maintaining this gold horde is that, just for bookkeeping,

455
00:23:36,640 --> 00:23:41,680
Speaker 1: they assign like an arbitrary value the statutory value of gold.

456
00:23:41,680 --> 00:23:44,680
Speaker 1: It's what it's called at forty two dollars and forty

457
00:23:44,680 --> 00:23:47,240
Speaker 1: four cents an ounce, so that they can keep track

458
00:23:47,920 --> 00:23:50,479
Speaker 1: using that dollar amount of how much gold is in

459
00:23:51,520 --> 00:23:54,200
Speaker 1: Fort Knox, rather than you know, tracking it as it

460
00:23:54,320 --> 00:23:57,400
Speaker 1: as it relates to like the international gold market.

461
00:23:58,040 --> 00:24:00,200
Speaker 2: Yeah, and so I did the math this time.

462
00:24:00,040 --> 00:24:02,080
Speaker 1: I did two. Let's see if we came up with

463
00:24:02,119 --> 00:24:02,800
Speaker 1: the same figures.

464
00:24:03,280 --> 00:24:05,920
Speaker 2: So the supposedly there are forty six hundred metric tons

465
00:24:05,960 --> 00:24:09,000
Speaker 2: of gold, which by the way, is about two point

466
00:24:09,000 --> 00:24:11,760
Speaker 2: five percent of all the gold ever mined in the

467
00:24:11,800 --> 00:24:13,000
Speaker 2: world in human history.

468
00:24:13,400 --> 00:24:14,400
Speaker 1: That's pretty impressive.

469
00:24:14,760 --> 00:24:16,400
Speaker 2: And if we're just going I want to make sure

470
00:24:16,440 --> 00:24:19,320
Speaker 2: we use the same numbers here forty six hundred metric tons.

471
00:24:19,840 --> 00:24:23,920
Speaker 2: Can use that forty two point four to four cents

472
00:24:24,040 --> 00:24:24,639
Speaker 2: per ounce.

473
00:24:25,160 --> 00:24:26,840
Speaker 1: Okay, I did it differently, But let's see if we

474
00:24:26,880 --> 00:24:27,919
Speaker 1: came up with the same figure.

475
00:24:28,080 --> 00:24:29,960
Speaker 2: Well, what value did you use?

476
00:24:30,040 --> 00:24:33,200
Speaker 1: Like, no, you go first, mister, you're wrong guy.

477
00:24:35,359 --> 00:24:38,520
Speaker 2: So using the statutory value of gold that the US

478
00:24:38,640 --> 00:24:41,560
Speaker 2: is set, I came up with six point eight billion

479
00:24:41,600 --> 00:24:42,520
Speaker 2: dollars worth of gold.

480
00:24:43,480 --> 00:24:46,919
Speaker 1: Close for mine. Close for mine. I used a different method,

481
00:24:47,000 --> 00:24:48,960
Speaker 1: and this is one of the great joys of math?

482
00:24:49,080 --> 00:24:50,880
Speaker 1: Is there a different approaches to the same proble?

483
00:24:51,240 --> 00:24:51,679
Speaker 2: What did you do?

484
00:24:52,960 --> 00:24:55,840
Speaker 1: I took that forty six hundred metric tons of gold

485
00:24:56,119 --> 00:25:01,720
Speaker 1: and divided it by pounds twenty seven point five pounds,

486
00:25:01,760 --> 00:25:05,080
Speaker 1: so I came up with the number of individual bars.

487
00:25:05,440 --> 00:25:07,879
Speaker 1: Then I multiplied that number of individual bars, which is

488
00:25:08,040 --> 00:25:10,760
Speaker 1: three hundred and sixty eight thousand and seven hundred and

489
00:25:10,800 --> 00:25:15,160
Speaker 1: seventy three bars. Uh huh, by that sixteen thousand, eight

490
00:25:15,280 --> 00:25:18,160
Speaker 1: hundred and eighty eight dollars per bar. Okay, I came

491
00:25:18,240 --> 00:25:20,720
Speaker 1: up with in the neighborhood of six point twenty five

492
00:25:20,840 --> 00:25:23,040
Speaker 1: six billion dollars worth of gold.

493
00:25:23,720 --> 00:25:27,240
Speaker 2: Well, first of all, there's a psychologist that's listening to

494
00:25:27,280 --> 00:25:30,800
Speaker 2: this that is really yeah, looking at what that means

495
00:25:30,800 --> 00:25:32,119
Speaker 2: for both of our personalities.

496
00:25:32,280 --> 00:25:34,160
Speaker 1: For sure, it's gotta say a lot.

497
00:25:34,200 --> 00:25:36,280
Speaker 2: You know, did you use Are you sure you used

498
00:25:36,320 --> 00:25:38,800
Speaker 2: metric tons and not just tons?

499
00:25:39,119 --> 00:25:43,399
Speaker 1: Yeah? I did a pound to metric ton conversion. You

500
00:25:43,400 --> 00:25:45,040
Speaker 1: know how you can go on the internet and just

501
00:25:45,080 --> 00:25:47,960
Speaker 1: say pound metric ton and like it brings up a

502
00:25:47,960 --> 00:25:49,439
Speaker 1: little conversion thing for you.

503
00:25:49,720 --> 00:25:51,840
Speaker 2: Yeah, I was. I was just making sure because at

504
00:25:51,880 --> 00:25:53,959
Speaker 2: first I didn't do metric ton, and that was different

505
00:25:54,320 --> 00:25:56,400
Speaker 2: and did a short ton that is a short ton,

506
00:25:56,440 --> 00:25:58,879
Speaker 2: and that came to about six closer to your number.

507
00:26:00,119 --> 00:26:02,480
Speaker 1: Oh okay, yeah, no, I and I actually rounded a

508
00:26:02,480 --> 00:26:04,840
Speaker 1: little bit because I was like, E, what the heck

509
00:26:04,920 --> 00:26:08,360
Speaker 1: is that when the total came up, So I went

510
00:26:08,400 --> 00:26:10,240
Speaker 1: back and redid it. And I didn't feel like plugging

511
00:26:10,280 --> 00:26:11,760
Speaker 1: in all the same numbers that I rounded it.

512
00:26:12,560 --> 00:26:14,800
Speaker 2: What I wonder what I did was I just took

513
00:26:16,680 --> 00:26:19,680
Speaker 2: how many ounces or in forty six in a metric ton,

514
00:26:20,359 --> 00:26:23,200
Speaker 2: multiplied that by forty six hundred, and then multiplied that

515
00:26:23,240 --> 00:26:24,800
Speaker 2: by forty two forty four.

516
00:26:26,160 --> 00:26:28,960
Speaker 1: Well, I proposed that move along because I just suddenly rose.

517
00:26:29,000 --> 00:26:32,560
Speaker 1: There's probably people who's like their fingertips are dug under

518
00:26:32,600 --> 00:26:35,959
Speaker 1: their eyeballs. They're so they're in such agony hearing us

519
00:26:36,000 --> 00:26:37,600
Speaker 1: discuss math like this.

520
00:26:38,240 --> 00:26:41,320
Speaker 2: Well, what's what's important is that the FED in New

521
00:26:41,400 --> 00:26:44,520
Speaker 2: York actually has more gold in their Manhattan vault, which

522
00:26:44,640 --> 00:26:48,000
Speaker 2: was in a movie six thousand tons of Gold. That

523
00:26:48,000 --> 00:26:52,240
Speaker 2: would have been die Harder, Die Hard three. I believe

524
00:26:52,440 --> 00:26:54,520
Speaker 2: it may die another day. I don't know, but it

525
00:26:54,600 --> 00:26:56,600
Speaker 2: was a good one. That was the one with Sam Jackson.

526
00:26:57,200 --> 00:27:00,800
Speaker 1: Yeah, that was pretty good. And by the way, I

527
00:27:00,840 --> 00:27:03,680
Speaker 1: need to say something. I realized that. I said, Event

528
00:27:03,760 --> 00:27:07,240
Speaker 1: Horizon is a good movie and holds up. I went

529
00:27:07,280 --> 00:27:10,639
Speaker 1: back and saw it again again, huh, and I was like,

530
00:27:10,720 --> 00:27:13,720
Speaker 1: this is way jokier than I remember from last time.

531
00:27:13,800 --> 00:27:17,520
Speaker 1: Oh really, Yeah, And sadly there's a there's a sheen

532
00:27:17,680 --> 00:27:21,720
Speaker 1: or a coating of hokiness that I guess maybe they

533
00:27:21,720 --> 00:27:23,840
Speaker 1: brought in somebody to punch up the script or something

534
00:27:23,840 --> 00:27:25,040
Speaker 1: and that was their contribution.

535
00:27:25,119 --> 00:27:27,160
Speaker 2: But it's not so it doesn't hold up anymore.

536
00:27:27,440 --> 00:27:32,760
Speaker 1: No, and it's a great galactic, love crafty and horror

537
00:27:32,800 --> 00:27:36,600
Speaker 1: movie in concept and in some parts, but no, it's

538
00:27:36,720 --> 00:27:40,199
Speaker 1: unfortunately rather hokey. I'm a little gutted to say that.

539
00:27:40,280 --> 00:27:41,920
Speaker 1: As our British friends would say.

540
00:27:41,760 --> 00:27:43,840
Speaker 2: Maybe you should watch it again in like three years

541
00:27:43,840 --> 00:27:45,000
Speaker 2: and it might be back on track.

542
00:27:45,040 --> 00:27:47,760
Speaker 1: Were you, well, maybe, you know, maybe it's me that's

543
00:27:47,800 --> 00:27:48,400
Speaker 1: the problem.

544
00:27:49,440 --> 00:27:51,320
Speaker 2: Well, you know, taste waxes and wains.

545
00:27:51,920 --> 00:27:53,600
Speaker 1: Yeah, that's true. It's true.

546
00:27:54,000 --> 00:27:56,480
Speaker 2: There's another there's some other stuff in Fort Knox, and

547
00:27:56,520 --> 00:27:59,439
Speaker 2: there has been other stuff through history in Fort Knox,

548
00:27:59,480 --> 00:28:01,280
Speaker 2: because it's just it's a great place to keep stuff

549
00:28:01,280 --> 00:28:03,399
Speaker 2: if you don't want to lose it or have it stolen.

550
00:28:04,280 --> 00:28:07,280
Speaker 2: They have some rare coins in there. These are coins

551
00:28:07,320 --> 00:28:10,240
Speaker 2: that were not released to the public. They may have

552
00:28:10,280 --> 00:28:14,439
Speaker 2: been promotional coins or test pressings, and so there's some

553
00:28:14,480 --> 00:28:19,439
Speaker 2: of that stuff, including the Chicago Way dollars coins that

554
00:28:19,520 --> 00:28:22,199
Speaker 2: flew in the Space shuttle. Is that funny?

555
00:28:22,880 --> 00:28:24,200
Speaker 1: Yeah, that's sokka juweah.

556
00:28:24,640 --> 00:28:28,680
Speaker 2: Yeah, that's like the American bastardization. It's Chicago Way.

557
00:28:29,560 --> 00:28:33,040
Speaker 1: Oh well, maybe we should keep this in, Okay, because

558
00:28:33,800 --> 00:28:36,200
Speaker 1: I've never heard anybody say that. I really thought you'd

559
00:28:36,280 --> 00:28:38,760
Speaker 1: just mised pronounced it. Other people say it like that.

560
00:28:39,440 --> 00:28:41,440
Speaker 2: Yeah. I think it's one of those things where like

561
00:28:41,520 --> 00:28:46,000
Speaker 2: the native pronunciation is Chicagoway and Americans were like saka Jowellah.

562
00:28:46,440 --> 00:28:49,360
Speaker 1: No, oh my god, I've got so much egg on

563
00:28:49,400 --> 00:28:51,800
Speaker 1: my face. Maybe we won't keep this part in. You

564
00:28:51,880 --> 00:28:53,360
Speaker 1: have to say it you said it wrong, though, you

565
00:28:53,400 --> 00:28:58,400
Speaker 1: have to be like that's wrong, that's wrong. Okay, thank you.

566
00:28:58,680 --> 00:29:01,480
Speaker 1: So it is Chicagoway. Huh? Is it icagaweya?

567
00:29:01,880 --> 00:29:04,120
Speaker 2: I think it's just Chicagaway. And I only learn that

568
00:29:04,160 --> 00:29:06,000
Speaker 2: from Ken Burns.

569
00:29:06,800 --> 00:29:10,560
Speaker 1: God bless Kim America's teacher cut and you man, thank

570
00:29:10,600 --> 00:29:12,920
Speaker 1: you for setting me straight in front of a million people.

571
00:29:13,720 --> 00:29:17,479
Speaker 2: Let me see here at nineteen thirty three gold double

572
00:29:17,520 --> 00:29:19,720
Speaker 2: eagle twenty dollars coin. That's kind of cool.

573
00:29:20,320 --> 00:29:23,600
Speaker 1: Yeah. Sure there's an aluminum dime, no penny, an aluminum

574
00:29:23,680 --> 00:29:25,720
Speaker 1: penny from nineteen seventy four.

575
00:29:25,520 --> 00:29:26,880
Speaker 2: Which I'd love to see that thing.

576
00:29:27,400 --> 00:29:28,880
Speaker 1: I would too, but it just strikes me as a

577
00:29:28,880 --> 00:29:34,680
Speaker 1: little sad. Sure there've also been because Fort Knox is

578
00:29:34,720 --> 00:29:36,880
Speaker 1: just so well known as this impregnable place, and it

579
00:29:36,920 --> 00:29:40,000
Speaker 1: really is, you know, legitimately, you cannot get into it

580
00:29:40,040 --> 00:29:43,280
Speaker 1: no matter how hard you try. It's actually served as

581
00:29:43,320 --> 00:29:46,520
Speaker 1: the site the storehouse for some like truly valuable stuff

582
00:29:47,680 --> 00:29:51,840
Speaker 1: like the Declaration of Independence, the Bill of Rights, the

583
00:29:51,880 --> 00:29:57,480
Speaker 1: Gettysburg Address, a Gutenberg Bible, the Magnet cart. Actually during

584
00:29:57,480 --> 00:29:59,480
Speaker 1: World War Two, England's like, hey, can you hang on

585
00:29:59,560 --> 00:30:01,680
Speaker 1: to this four because the Germans are really like up

586
00:30:01,680 --> 00:30:04,840
Speaker 1: our butts right now? That's kind of cool, yeah, they

587
00:30:04,920 --> 00:30:07,720
Speaker 1: So we held that at Fort Knox during World War Two,

588
00:30:08,720 --> 00:30:11,760
Speaker 1: which is I mean, that's just fascinating to the idea

589
00:30:11,800 --> 00:30:17,160
Speaker 1: that some apparently some secret service agent traveled secretly with

590
00:30:17,480 --> 00:30:20,440
Speaker 1: a bunch of these documents from Washington, d C. And

591
00:30:20,480 --> 00:30:22,840
Speaker 1: put them on a train out to Kentucky to go

592
00:30:22,880 --> 00:30:25,280
Speaker 1: to be held in Fort Knox during World War Two.

593
00:30:25,520 --> 00:30:28,120
Speaker 2: I love it. That's really cool. And that was temporary.

594
00:30:28,160 --> 00:30:29,720
Speaker 2: I think. Didn't they return them right afterward?

595
00:30:30,320 --> 00:30:33,480
Speaker 1: Oh yeah, for sure. Apparently they dedicated the Jefferson Memorial

596
00:30:33,480 --> 00:30:35,120
Speaker 1: in nineteen forty three and they're like, we need to

597
00:30:35,160 --> 00:30:38,640
Speaker 1: get the Declaration of Independence out there.

598
00:30:38,880 --> 00:30:40,960
Speaker 2: And they found out that the guards were using it

599
00:30:41,000 --> 00:30:44,280
Speaker 2: as a place mat to eat their dehydrated foods.

600
00:30:44,520 --> 00:30:47,960
Speaker 1: You know, they'd swapped it with something that they only

601
00:30:48,040 --> 00:30:51,920
Speaker 1: used cryon to forge, kept the original themselves.

602
00:30:52,280 --> 00:30:55,600
Speaker 2: So should we break now before conspiracies or weight and

603
00:30:55,720 --> 00:30:57,080
Speaker 2: break before gold standard?

604
00:30:57,680 --> 00:30:59,480
Speaker 1: We'll break now. And I'm not one hundred percent sure

605
00:30:59,480 --> 00:31:00,800
Speaker 1: I'm going to be able to come back from that

606
00:31:00,880 --> 00:31:03,320
Speaker 1: Chicago Way thing, Okay. So it might just be you

607
00:31:03,400 --> 00:31:36,120
Speaker 1: and we come back from brain No never, okay, Chuck.

608
00:31:36,200 --> 00:31:38,520
Speaker 1: So one of the things, one of the favorite things

609
00:31:38,560 --> 00:31:42,320
Speaker 1: Americans love to do is to suggest, quite seriously in

610
00:31:42,360 --> 00:31:45,160
Speaker 1: a lot of cases that there is no such thing

611
00:31:45,960 --> 00:31:49,440
Speaker 1: as a gold in Fort Knox, and that there hasn't

612
00:31:49,480 --> 00:31:51,320
Speaker 1: been golden there for a very long time. And if

613
00:31:51,360 --> 00:31:53,560
Speaker 1: you went there and you saw gold, well you're a fool.

614
00:31:53,560 --> 00:31:56,880
Speaker 1: Because the best thing. The best possible scenario is that

615
00:31:56,920 --> 00:32:01,000
Speaker 1: you saw something like tungsten that was spray painted or

616
00:32:01,320 --> 00:32:03,880
Speaker 1: plated in gold, and that the golden Fort Knox is

617
00:32:03,920 --> 00:32:06,080
Speaker 1: not there and hasn't been there for a very long time,

618
00:32:06,360 --> 00:32:10,480
Speaker 1: and not only that it was sold for the most nefarious,

619
00:32:10,720 --> 00:32:13,240
Speaker 1: outrageous purposes we can possibly come up with.

620
00:32:14,200 --> 00:32:18,640
Speaker 2: Yeah, so they audit Fort Knox and they count the

621
00:32:18,680 --> 00:32:23,040
Speaker 2: gold allegedly supposedly, Dottie and Danny get in there with

622
00:32:23,120 --> 00:32:28,480
Speaker 2: their adding machine and they type everything out. And I

623
00:32:28,520 --> 00:32:30,280
Speaker 2: love how Ed put this. He said that all the

624
00:32:30,320 --> 00:32:35,040
Speaker 2: conspiracy theories rely on quote, some fundamental misunderstanding of how

625
00:32:35,080 --> 00:32:38,640
Speaker 2: currency works, how the gold standard worked, or just outright nonsense.

626
00:32:39,640 --> 00:32:40,600
Speaker 2: But it's kind of true.

627
00:32:41,400 --> 00:32:44,080
Speaker 1: Yeah, No, it totally is, because there's this call for

628
00:32:44,240 --> 00:32:47,240
Speaker 1: which we'll talk about the gold to be used again

629
00:32:47,280 --> 00:32:49,600
Speaker 1: the way originally was, which is the back our currency.

630
00:32:51,400 --> 00:32:54,040
Speaker 1: If that's the if that's really the basis of your

631
00:32:54,080 --> 00:32:56,640
Speaker 1: problem with the idea that the gold was secretly sold

632
00:32:56,680 --> 00:33:00,120
Speaker 1: off in Fort Knox, then then yeah, you misunderstand and

633
00:33:00,120 --> 00:33:02,800
Speaker 1: how currency works or how economies work, and you probably

634
00:33:03,160 --> 00:33:06,440
Speaker 1: don't fully understand how the gold standard was not really

635
00:33:06,480 --> 00:33:10,040
Speaker 1: great and that America actually blew up, and the whole

636
00:33:10,080 --> 00:33:13,640
Speaker 1: world blew up after we switched off of the gold standard.

637
00:33:13,640 --> 00:33:16,520
Speaker 1: That's how the global economy really started to take off,

638
00:33:16,920 --> 00:33:20,480
Speaker 1: was when we decoupled our currency from being pinned to gold.

639
00:33:20,520 --> 00:33:23,720
Speaker 1: So that's another It seems to be another factor in

640
00:33:24,480 --> 00:33:27,680
Speaker 1: kind of banding about conspiracy theories about Fort Knox gold too.

641
00:33:28,040 --> 00:33:32,800
Speaker 2: Yeah, and a lot of these conspiracy theories are anti Semitic. Yeah,

642
00:33:32,880 --> 00:33:34,920
Speaker 2: there are, believe it or not. There are some really

643
00:33:34,920 --> 00:33:38,520
Speaker 2: smart people who think who may or may not believe

644
00:33:38,520 --> 00:33:41,480
Speaker 2: in some of these theories, and some that believe we

645
00:33:41,520 --> 00:33:44,960
Speaker 2: should go back to the gold standard, including Alan Greenspan,

646
00:33:46,200 --> 00:33:49,600
Speaker 2: a woman named Judy Shelton who Trump tried to push

647
00:33:49,680 --> 00:33:53,840
Speaker 2: for appointment to the FED to the Federal Reserve. And

648
00:33:53,920 --> 00:33:56,240
Speaker 2: I'm not sure if she believes in the conspiracy theories

649
00:33:56,320 --> 00:33:58,000
Speaker 2: or she just wants to go back to the gold standard.

650
00:33:58,480 --> 00:34:00,520
Speaker 1: Yeah, they're not. I mean, it's not hand in hand.

651
00:34:00,560 --> 00:34:02,560
Speaker 1: It's just if you do think we should go back

652
00:34:02,560 --> 00:34:06,440
Speaker 1: to the gold standard, it's basically impossible for your attention

653
00:34:06,600 --> 00:34:08,839
Speaker 1: not to fall on Fort Knox. And then you may

654
00:34:08,880 --> 00:34:10,560
Speaker 1: be like, well, is there even gold there?

655
00:34:11,320 --> 00:34:14,919
Speaker 2: Yeah? True, But there are some truly wackado things out there.

656
00:34:15,800 --> 00:34:17,680
Speaker 2: This Peter Better guy.

657
00:34:18,400 --> 00:34:19,879
Speaker 1: Oh is that how you're saying his name?

658
00:34:20,239 --> 00:34:21,760
Speaker 2: What is it better? Better?

659
00:34:22,360 --> 00:34:26,120
Speaker 1: If his name's not Peter Beeter, then I'm sad.

660
00:34:26,760 --> 00:34:30,120
Speaker 2: I am too. Peter Beeter, the et e r. That's

661
00:34:30,120 --> 00:34:31,120
Speaker 2: what I'm going to call him, at least.

662
00:34:31,160 --> 00:34:34,160
Speaker 1: Yeah, it's like Peter with a bee. Yeah, but his

663
00:34:34,239 --> 00:34:37,480
Speaker 1: first name's Peter. It's magnificent, it's perfect.

664
00:34:37,840 --> 00:34:41,560
Speaker 2: So he has thrown a lot of conspiracies out there

665
00:34:41,600 --> 00:34:45,720
Speaker 2: since the seventies, including a popular one that we sold

666
00:34:45,760 --> 00:34:49,359
Speaker 2: off all the gold to these global elites for next

667
00:34:49,360 --> 00:34:52,960
Speaker 2: to nothing so they could hoard that gold and then

668
00:34:53,040 --> 00:34:56,560
Speaker 2: one day just destabilize the economy of the world and

669
00:34:57,760 --> 00:34:59,920
Speaker 2: you know, ascend to power basically.

670
00:35:00,400 --> 00:35:03,799
Speaker 1: Yeah, because they would have all the money and they

671
00:35:04,040 --> 00:35:06,080
Speaker 1: sunk the value of the money so they could buy

672
00:35:06,120 --> 00:35:09,120
Speaker 1: everything else at rock bottom prices like they bought the gold.

673
00:35:09,560 --> 00:35:13,200
Speaker 1: Apparently this involves the Rothschilds, which automatically makes the whole

674
00:35:13,200 --> 00:35:16,680
Speaker 1: thing anti Semitic, because the roth Childs started out and

675
00:35:16,960 --> 00:35:18,400
Speaker 1: you know, are still around as far as I know,

676
00:35:19,400 --> 00:35:24,160
Speaker 1: as a Jewish banking family many many centuries ago and

677
00:35:24,320 --> 00:35:27,120
Speaker 1: rose to power and wealth pretty quickly, and actually had

678
00:35:27,160 --> 00:35:30,960
Speaker 1: a huge role in a lot of world affairs, like

679
00:35:31,680 --> 00:35:35,080
Speaker 1: were able to bail out entire nations like France after

680
00:35:35,120 --> 00:35:38,359
Speaker 1: they went into debt over war, like this family could

681
00:35:38,400 --> 00:35:41,320
Speaker 1: do that, and it started a lot of conspiracy theories.

682
00:35:41,400 --> 00:35:45,560
Speaker 1: So they're kind of like one of the og conspiracy theories.

683
00:35:45,560 --> 00:35:49,080
Speaker 1: And usually it was based on a combination or it

684
00:35:49,120 --> 00:35:51,839
Speaker 1: was based on suspiciousness of a combination of them being

685
00:35:51,920 --> 00:35:54,480
Speaker 1: Jewish and them being extraordinarily wealthy.

686
00:35:55,200 --> 00:35:59,439
Speaker 2: Yeah, there's this other guy. Is his name is Yan

687
00:36:00,040 --> 00:36:04,440
Speaker 2: even Huis. I'm sure that's wrong. He had an alias

688
00:36:04,520 --> 00:36:09,720
Speaker 2: named kus Janssen Koos And I listened to and read

689
00:36:09,719 --> 00:36:13,279
Speaker 2: some interviews with this guy and he did you check

690
00:36:13,400 --> 00:36:16,000
Speaker 2: into him? He seems he seems like a pretty level

691
00:36:16,000 --> 00:36:20,319
Speaker 2: headed economist, right that just seems to think that these

692
00:36:20,360 --> 00:36:24,040
Speaker 2: audits aren't correct and there is something kinky going on.

693
00:36:24,320 --> 00:36:26,040
Speaker 2: He didn't seem really out there though.

694
00:36:27,080 --> 00:36:30,399
Speaker 1: No, but it seems like a case of paying too

695
00:36:30,480 --> 00:36:34,880
Speaker 1: much attention to details and starting to see things that

696
00:36:34,960 --> 00:36:38,520
Speaker 1: aren't necessarily there. Or if you do turn up a discrepancy,

697
00:36:38,760 --> 00:36:41,600
Speaker 1: assuming that it does reveal some larger plot rather than

698
00:36:41,680 --> 00:36:44,280
Speaker 1: just being a mistake or an accounting error or somebody

699
00:36:44,320 --> 00:36:47,160
Speaker 1: forgot to carry the one. That's my impression. I could

700
00:36:47,200 --> 00:36:49,280
Speaker 1: be wrong. I don't know much about kus Jansen.

701
00:36:49,760 --> 00:36:53,560
Speaker 2: Yeah, but the interview just seemed very level headed. He

702
00:36:53,640 --> 00:36:59,239
Speaker 2: wasn't talking about robotoids, which is what Peter Peter talks about, right,

703
00:37:00,120 --> 00:37:02,920
Speaker 2: literally talks about stuff like that.

704
00:37:03,680 --> 00:37:06,040
Speaker 1: Well, that's what makes it believable is the OIDs on

705
00:37:06,080 --> 00:37:07,920
Speaker 1: the end. If there were just robots, it would just

706
00:37:07,920 --> 00:37:09,040
Speaker 1: seem rather far fetch.

707
00:37:09,480 --> 00:37:11,399
Speaker 2: What about Ron Paul, His is a little out there.

708
00:37:11,440 --> 00:37:12,680
Speaker 2: He thinks it's all fake, right.

709
00:37:13,239 --> 00:37:16,560
Speaker 1: So Ron Paul. I can't tell if Ron Paul is

710
00:37:16,600 --> 00:37:18,759
Speaker 1: the source of a lot of this or was an

711
00:37:18,760 --> 00:37:21,920
Speaker 1: amplifier for a lot of it, But he's tapped into

712
00:37:22,120 --> 00:37:26,880
Speaker 1: or is part of one of the larger kind of

713
00:37:27,640 --> 00:37:31,360
Speaker 1: followings of conspiracy theories as far as Fort Knox is concerned,

714
00:37:31,360 --> 00:37:34,879
Speaker 1: which is that either like I was saying earlier, there's

715
00:37:34,920 --> 00:37:37,719
Speaker 1: either no gold there really, or the goal that is

716
00:37:37,760 --> 00:37:40,400
Speaker 1: there is fake and the real gold has been sold,

717
00:37:40,880 --> 00:37:43,640
Speaker 1: and that the US has been doing this for a

718
00:37:43,719 --> 00:37:49,680
Speaker 1: very long time for all sorts of uncertain reasons like that,

719
00:37:49,719 --> 00:37:52,359
Speaker 1: and that usually these days that China's been the big

720
00:37:52,400 --> 00:37:54,880
Speaker 1: recipient of cheap gold, and maybe we've been doing that

721
00:37:54,960 --> 00:37:57,400
Speaker 1: because if we sell China a bunch of cheap gold,

722
00:37:57,440 --> 00:38:00,920
Speaker 1: it will actually keep the dollar low and we'll strengthen

723
00:38:00,960 --> 00:38:05,440
Speaker 1: our exports. I'm not quite sure how that works. There

724
00:38:05,480 --> 00:38:08,160
Speaker 1: also seems to be a certain amount of like national

725
00:38:08,239 --> 00:38:11,919
Speaker 1: pride associated with it, where like, no, that's our goal,

726
00:38:11,960 --> 00:38:14,360
Speaker 1: that's the people's goal. That can't be sold off secretly

727
00:38:14,400 --> 00:38:16,960
Speaker 1: by the government. And here's to me where it's like,

728
00:38:18,480 --> 00:38:21,439
Speaker 1: even if there isn't any gold in Fort Knox at

729
00:38:21,480 --> 00:38:25,760
Speaker 1: some point in the not too distant past, but the past,

730
00:38:25,920 --> 00:38:30,359
Speaker 1: for sure, we've gone so far beyond that having any

731
00:38:30,440 --> 00:38:33,719
Speaker 1: importance whatsoever. Yeah, based on the dollar value of the

732
00:38:33,719 --> 00:38:38,080
Speaker 1: golden Fort Knox that it legitimately doesn't matter. But that's

733
00:38:38,120 --> 00:38:40,200
Speaker 1: why I think some people are like, no, it does matter.

734
00:38:40,239 --> 00:38:43,360
Speaker 1: That is our goal, that's America's goal. I've seen it

735
00:38:43,400 --> 00:38:45,520
Speaker 1: referred to I think Ed said somebody referred to it

736
00:38:45,560 --> 00:38:48,920
Speaker 1: as the equity of our national wealth. And there seems

737
00:38:48,960 --> 00:38:51,320
Speaker 1: to be like a certain amount of like American pride

738
00:38:51,400 --> 00:38:55,680
Speaker 1: or patriotism in being really mad about the idea that

739
00:38:55,719 --> 00:38:58,680
Speaker 1: Fort Knox doesn't have any gold anymore, that the American

740
00:38:58,719 --> 00:39:02,120
Speaker 1: people were duped by you know, whatever elites are running

741
00:39:02,160 --> 00:39:05,000
Speaker 1: the show at the behest of whatever. Jewish people are

742
00:39:05,080 --> 00:39:06,320
Speaker 1: running the elites.

743
00:39:06,280 --> 00:39:08,840
Speaker 2: Right, because here's the deal, and this is where we

744
00:39:09,320 --> 00:39:11,960
Speaker 2: kind of get in more to the of the gold standard,

745
00:39:12,560 --> 00:39:14,680
Speaker 2: and we talked about this in currency and how both

746
00:39:14,680 --> 00:39:17,960
Speaker 2: of us are kind of consistently blown away that money,

747
00:39:19,040 --> 00:39:21,840
Speaker 2: all money is is just something that everyone is agreed

748
00:39:21,880 --> 00:39:25,280
Speaker 2: on has value. Yeah, and that's what we've been doing forever.

749
00:39:25,360 --> 00:39:29,919
Speaker 2: But yeah, since there has been little ingots and trinkets, Yes,

750
00:39:30,160 --> 00:39:32,080
Speaker 2: as long as you agree, I mean, it could be

751
00:39:32,120 --> 00:39:34,640
Speaker 2: a well, it could be a stick. It has to

752
00:39:34,640 --> 00:39:37,240
Speaker 2: be something that you can't just go out and forage,

753
00:39:37,280 --> 00:39:39,799
Speaker 2: although you can with gold, which is a problem you can.

754
00:39:39,960 --> 00:39:43,160
Speaker 1: I mean, like think about wampum that was extensively used

755
00:39:43,160 --> 00:39:45,680
Speaker 1: and I believe the Pacific Northwest by more than one

756
00:39:46,719 --> 00:39:50,800
Speaker 1: tribe and nation. Wampam was They were like little little

757
00:39:50,800 --> 00:39:53,200
Speaker 1: seashells that you could go and collect if you wanted to,

758
00:39:53,280 --> 00:39:56,520
Speaker 1: and they were considered valuable currency and were for a

759
00:39:56,600 --> 00:39:59,000
Speaker 1: very long time too. So it could conceivably be a

760
00:39:59,040 --> 00:40:00,480
Speaker 1: stick as far as you may he's.

761
00:40:00,360 --> 00:40:03,080
Speaker 2: Concerned, right, But in our case, and in the case

762
00:40:03,080 --> 00:40:06,880
Speaker 2: of paper money these days, it is we've had to

763
00:40:06,920 --> 00:40:10,480
Speaker 2: make it incredibly hard to recreate and counterfeit. You can

764
00:40:10,520 --> 00:40:13,880
Speaker 2: also listen to our counterfeiting episode. But what really struck

765
00:40:13,960 --> 00:40:17,319
Speaker 2: me kind of with that thought experiment this time is

766
00:40:17,360 --> 00:40:21,360
Speaker 2: that gold really doesn't have much value either as a commodity.

767
00:40:21,560 --> 00:40:26,120
Speaker 2: It's it's nice for making pretty trinkets, but and they

768
00:40:26,160 --> 00:40:28,080
Speaker 2: use it in some electronics and stuff like that. But

769
00:40:28,320 --> 00:40:30,600
Speaker 2: we've also just sort of agreed that gold is valuable,

770
00:40:31,320 --> 00:40:36,640
Speaker 2: and the only thing that really has true value is food, air,

771
00:40:36,760 --> 00:40:41,239
Speaker 2: and water, if you think about it, and love, and

772
00:40:41,360 --> 00:40:43,480
Speaker 2: the irony is is that we're doing our best to

773
00:40:44,239 --> 00:40:47,400
Speaker 2: kill all that stuff away, you know, the stuff that

774
00:40:47,560 --> 00:40:48,400
Speaker 2: really matters.

775
00:40:48,440 --> 00:40:52,680
Speaker 1: Man, Bravo, Bravo. I want to give you a hand

776
00:40:52,719 --> 00:40:54,360
Speaker 1: to help you down from your soapbox, and I'm going

777
00:40:54,440 --> 00:40:57,000
Speaker 1: to put a king robe around you. Okay, okay?

778
00:40:57,280 --> 00:40:57,400
Speaker 2: Is it?

779
00:40:58,760 --> 00:41:00,879
Speaker 1: It's gold flecked and it's got like the little white

780
00:41:01,040 --> 00:41:02,440
Speaker 1: leopard like.

781
00:41:02,600 --> 00:41:05,319
Speaker 2: Yeah caller, yeah, yeah, whatever that is.

782
00:41:05,360 --> 00:41:07,120
Speaker 1: You look great in it. That was wonderful.

783
00:41:07,920 --> 00:41:09,680
Speaker 2: No, it's just it's just so funny. These things that

784
00:41:09,719 --> 00:41:12,520
Speaker 2: we've agreed have value really don't. And the things that

785
00:41:12,600 --> 00:41:15,000
Speaker 2: really truly have value are really just the things that

786
00:41:15,080 --> 00:41:15,920
Speaker 2: keep people alive.

787
00:41:16,520 --> 00:41:19,719
Speaker 1: Right, right, But even like taking that hippie stuff out

788
00:41:19,719 --> 00:41:24,560
Speaker 1: of the equation, there was a time where people said, no, gold,

789
00:41:24,680 --> 00:41:28,200
Speaker 1: gold actually is valuable. People have value gold for eons now,

790
00:41:28,360 --> 00:41:30,839
Speaker 1: like it's one of the first things humans agreed had

791
00:41:30,920 --> 00:41:33,960
Speaker 1: inherent value, even though it doesn't really have inherent value

792
00:41:34,000 --> 00:41:37,759
Speaker 1: because it was yeah, and so it made sense that

793
00:41:37,960 --> 00:41:41,960
Speaker 1: we we would say, Okay, gold's really hard to lug around,

794
00:41:42,040 --> 00:41:45,440
Speaker 1: and like it's you just you don't want to actually

795
00:41:45,600 --> 00:41:49,040
Speaker 1: trade gold. How about we make paper that represents a

796
00:41:49,080 --> 00:41:52,480
Speaker 1: certain amount of gold. And so that's kind of where

797
00:41:52,520 --> 00:41:54,960
Speaker 1: we got paper currency in the world, and that's what

798
00:41:54,960 --> 00:41:57,720
Speaker 1: we've been using for a very long time. But over time,

799
00:41:58,200 --> 00:42:01,640
Speaker 1: the problems, the issue that can arise from pinning your

800
00:42:02,000 --> 00:42:08,359
Speaker 1: currency to gold, they became apparent. For one, you're you're

801
00:42:08,400 --> 00:42:10,960
Speaker 1: limited to the amount of gold that exists in the world,

802
00:42:10,960 --> 00:42:13,480
Speaker 1: which is substantial. I mean, all the golden Fort Knox

803
00:42:13,880 --> 00:42:16,440
Speaker 1: is only two and a half percent of all the

804
00:42:16,440 --> 00:42:18,200
Speaker 1: gold that was ever mined. So there's a lot of

805
00:42:18,239 --> 00:42:20,879
Speaker 1: gold in the world, but that's a finite amount, which

806
00:42:20,920 --> 00:42:23,200
Speaker 1: is why some people are like, yeah, that's why we

807
00:42:23,239 --> 00:42:26,200
Speaker 1: should pin our currency to gold. It prevents it from

808
00:42:26,200 --> 00:42:28,160
Speaker 1: getting out of hand, and you can't just print however

809
00:42:28,239 --> 00:42:31,600
Speaker 1: much you want. The problem is, it's like you were saying,

810
00:42:31,840 --> 00:42:33,640
Speaker 1: like with a stick, you can go in the forest

811
00:42:33,680 --> 00:42:36,880
Speaker 1: and go get a bunch of sticks. Conceivably, you a

812
00:42:36,920 --> 00:42:39,880
Speaker 1: private company could go mine a bunch of gold that

813
00:42:39,960 --> 00:42:44,440
Speaker 1: you found. You found a horde, and you can mine it,

814
00:42:44,480 --> 00:42:48,280
Speaker 1: and that will affect the value of not just gold,

815
00:42:48,280 --> 00:42:52,160
Speaker 1: but of entire national economies in the global economy as

816
00:42:52,160 --> 00:42:54,600
Speaker 1: a whole, if everybody's pinning their currency to gold.

817
00:42:55,520 --> 00:42:58,359
Speaker 2: Yeah. And the thing is it also like, if your

818
00:42:58,400 --> 00:43:01,960
Speaker 2: economy is backed only by gold, it's really tough to

819
00:43:02,000 --> 00:43:04,719
Speaker 2: make adjustments to the economy as a government, which is

820
00:43:05,640 --> 00:43:08,800
Speaker 2: something as things have become more complicated over the years

821
00:43:08,800 --> 00:43:13,759
Speaker 2: with finance throughout the world we've relied upon and I

822
00:43:13,760 --> 00:43:15,560
Speaker 2: don't eve think we even mentioned that. The reason we

823
00:43:15,600 --> 00:43:17,760
Speaker 2: did this to begin with is because when we first

824
00:43:18,160 --> 00:43:21,800
Speaker 2: had the idea of paper currency, people are like, I

825
00:43:21,840 --> 00:43:25,040
Speaker 2: don't trust that at all, Like coins that people were

826
00:43:25,080 --> 00:43:27,719
Speaker 2: kind of used to because they've been using trinkets and

827
00:43:27,760 --> 00:43:30,160
Speaker 2: gets and coins for many, many years. But when they

828
00:43:30,280 --> 00:43:34,160
Speaker 2: brought out paper dollars, and part of this was understandable

829
00:43:34,160 --> 00:43:36,520
Speaker 2: because private banks and I think we talked about this

830
00:43:36,600 --> 00:43:41,080
Speaker 2: in currency, and especially in the South pre Civil War South,

831
00:43:41,560 --> 00:43:45,320
Speaker 2: there were all kinds of values for their paper currency,

832
00:43:45,360 --> 00:43:46,680
Speaker 2: so none of it really meant anything.

833
00:43:47,200 --> 00:43:50,920
Speaker 1: Yeah, a bank, a company, a town could print their

834
00:43:50,960 --> 00:43:54,080
Speaker 1: own money. There was no federal monopoly on printing money

835
00:43:54,080 --> 00:43:56,960
Speaker 1: in the United States until some time after the Civil War,

836
00:43:57,000 --> 00:43:57,400
Speaker 1: I think.

837
00:43:57,600 --> 00:43:59,960
Speaker 2: So people just said, yeah, we don't like this paper current.

838
00:44:00,560 --> 00:44:02,120
Speaker 2: So we came along said all right, well, what if

839
00:44:02,120 --> 00:44:05,440
Speaker 2: we back it by gold and in theory all the

840
00:44:05,520 --> 00:44:08,759
Speaker 2: money as a real gold value attached to it, and

841
00:44:08,800 --> 00:44:10,400
Speaker 2: you can even come trade it in for gold if

842
00:44:10,440 --> 00:44:10,920
Speaker 2: you want.

843
00:44:10,719 --> 00:44:14,440
Speaker 1: To, right. So that's that's how we went forward for

844
00:44:14,480 --> 00:44:16,600
Speaker 1: a very long time, and then kind of slowly but

845
00:44:16,719 --> 00:44:20,400
Speaker 1: surely we started to move away from it, particularly starting

846
00:44:20,800 --> 00:44:26,719
Speaker 1: in nineteen thirteen where the Federal Reserve was established, which

847
00:44:26,760 --> 00:44:28,799
Speaker 1: a lot of people, especially ones who think we should

848
00:44:28,800 --> 00:44:30,640
Speaker 1: go to the gold standard and people who think that

849
00:44:30,680 --> 00:44:33,520
Speaker 1: we shouldn't have or that there's no golden fort Knox

850
00:44:33,960 --> 00:44:38,120
Speaker 1: believe kind of ruined the world when we established the

851
00:44:38,120 --> 00:44:42,839
Speaker 1: Federal Reserve, and one of the first steps that said

852
00:44:42,960 --> 00:44:46,520
Speaker 1: was like, okay, we need to maintain forty percent of

853
00:44:46,560 --> 00:44:49,640
Speaker 1: the value of all of our currency in circulation in

854
00:44:49,800 --> 00:44:53,560
Speaker 1: gold as a country, which was a lot different from

855
00:44:53,600 --> 00:44:56,640
Speaker 1: one hundred percent. That's a huge amount of money that

856
00:44:56,680 --> 00:44:59,839
Speaker 1: can can now be printed, and more money that's out there,

857
00:45:00,239 --> 00:45:02,759
Speaker 1: more things can be bought because that money can be

858
00:45:02,840 --> 00:45:05,720
Speaker 1: traded for services and goods, and you can employ people

859
00:45:05,719 --> 00:45:07,640
Speaker 1: with it, and all of a sudden, your economy can

860
00:45:07,640 --> 00:45:09,920
Speaker 1: start getting bigger and bigger and bigger. And that's exactly

861
00:45:09,960 --> 00:45:12,720
Speaker 1: what happened. And as that became more and more evident,

862
00:45:13,680 --> 00:45:16,680
Speaker 1: we started moving further and further away from from the

863
00:45:16,719 --> 00:45:17,520
Speaker 1: gold standard.

864
00:45:17,960 --> 00:45:20,120
Speaker 2: Yeah. And like I said earlier, kind of joke that

865
00:45:20,200 --> 00:45:22,840
Speaker 2: Roosevelt they allowed him to urinate in person on the

866
00:45:22,880 --> 00:45:27,800
Speaker 2: gold He really led the charge in the thirties because

867
00:45:27,840 --> 00:45:30,680
Speaker 2: of World War One and the Great Depression, and said,

868
00:45:30,719 --> 00:45:32,120
Speaker 2: you know what, we really kind of need to get

869
00:45:32,160 --> 00:45:34,719
Speaker 2: away from this gold standard officially, and I'm going to

870
00:45:34,760 --> 00:45:39,440
Speaker 2: take a series of actions weakening that link between gold

871
00:45:40,080 --> 00:45:44,240
Speaker 2: dollars being backed by gold, and you can't exchange it anymore. Everyone,

872
00:45:44,360 --> 00:45:48,279
Speaker 2: so don't even think about that. And not only that,

873
00:45:48,400 --> 00:45:51,560
Speaker 2: you can't hoard gold, like we basically want all the

874
00:45:51,600 --> 00:45:54,160
Speaker 2: gold and they all want to hang on to it.

875
00:45:54,719 --> 00:45:57,120
Speaker 1: Yeah, And so for a very long time. The only

876
00:45:57,239 --> 00:46:01,680
Speaker 1: reason people maintain gold, or countries maintained gold, or the

877
00:46:01,760 --> 00:46:06,600
Speaker 1: United States maintained gold, was to pay off foreign debts

878
00:46:06,719 --> 00:46:10,319
Speaker 1: if need be. And then Nixon said nuts to that

879
00:46:10,480 --> 00:46:13,160
Speaker 1: in nineteen seventy one, and from that moment on, the

880
00:46:13,280 --> 00:46:17,960
Speaker 1: United States currency and economy was decoupled from gold and

881
00:46:18,080 --> 00:46:22,040
Speaker 1: has been ever since. And you again, you can look,

882
00:46:22,160 --> 00:46:26,400
Speaker 1: I'm not a wroth child robot oid. I just believe

883
00:46:26,440 --> 00:46:29,120
Speaker 1: in progress, basically. And if you go back and look

884
00:46:29,120 --> 00:46:31,319
Speaker 1: at the world economy, in the United States economy since

885
00:46:31,400 --> 00:46:34,560
Speaker 1: nineteen seventy one, it's made some pretty impressive gains since then,

886
00:46:35,280 --> 00:46:39,160
Speaker 1: and that's largely due to decoupling from gold and being

887
00:46:39,160 --> 00:46:41,680
Speaker 1: able to print money. Now that said, and this is

888
00:46:41,719 --> 00:46:43,840
Speaker 1: an entirely different podcast that I think we need to

889
00:46:43,840 --> 00:46:49,000
Speaker 1: do sometime. There are massive problems with paper money, paper

890
00:46:49,000 --> 00:46:52,960
Speaker 1: currency what's called fiat currency or a fiat system of currency,

891
00:46:52,960 --> 00:46:57,520
Speaker 1: where by fiat by proclamation, we say our currency is

892
00:46:57,560 --> 00:46:59,919
Speaker 1: worth this amount, and that's what we do now, which

893
00:47:00,120 --> 00:47:02,279
Speaker 1: is totally made up and totally in the air. But

894
00:47:02,320 --> 00:47:04,800
Speaker 1: as long as people have faith in the government and

895
00:47:04,840 --> 00:47:09,520
Speaker 1: the economy and the workforce, we can survive those ups

896
00:47:09,520 --> 00:47:13,440
Speaker 1: and downs through that that that sense of faith not

897
00:47:13,600 --> 00:47:19,320
Speaker 1: just among our citizens, but also people around the world understand.

898
00:47:20,040 --> 00:47:22,839
Speaker 2: Yeah, I mean, let's let's just all keep agreeing. Let's

899
00:47:22,920 --> 00:47:26,400
Speaker 2: keep that pinky squear going exactly. So why do we

900
00:47:26,400 --> 00:47:29,160
Speaker 2: still have value? Why do we still have Fort Knox?

901
00:47:29,280 --> 00:47:32,960
Speaker 2: And if we don't need the gold, well, I mean

902
00:47:33,920 --> 00:47:37,000
Speaker 2: they're not just gonna give it away. You still got

903
00:47:37,040 --> 00:47:39,400
Speaker 2: to keep it in one in a couple of places, right.

904
00:47:40,040 --> 00:47:42,040
Speaker 1: That's I mean, that's one thing I think there is

905
00:47:42,040 --> 00:47:44,239
Speaker 1: a certain amount of that national pride to even among

906
00:47:44,239 --> 00:47:46,440
Speaker 1: the governments. Yeah, we got we got a bunch of gold,

907
00:47:46,760 --> 00:47:48,960
Speaker 1: and it's in Fort Knox, and it's almost like symbolic

908
00:47:49,040 --> 00:47:52,239
Speaker 1: of America's wealth and strength. One thing I did see

909
00:47:52,280 --> 00:47:54,960
Speaker 1: is there are like lots of other countries have lots

910
00:47:54,960 --> 00:47:59,280
Speaker 1: of other gold hords themselves. And although the gold market

911
00:47:59,440 --> 00:48:02,360
Speaker 1: is basically separate, it's like its own thing. That's you know,

912
00:48:03,800 --> 00:48:09,440
Speaker 1: it responds and reacts to the stock exchanges and other markets,

913
00:48:09,440 --> 00:48:12,040
Speaker 1: but it's not it's not you know, entangled with it's

914
00:48:12,080 --> 00:48:15,520
Speaker 1: its own thing. So really, if you released a bunch

915
00:48:15,520 --> 00:48:17,440
Speaker 1: of gold, you're really going to mess with the gold market.

916
00:48:17,480 --> 00:48:19,319
Speaker 1: But it's going to have a ripple effect through the

917
00:48:19,520 --> 00:48:24,600
Speaker 1: through the world, in the other markets, in the global economy.

918
00:48:24,680 --> 00:48:27,600
Speaker 1: So it would be really foolish to release a bunch

919
00:48:27,680 --> 00:48:30,359
Speaker 1: of gold onto the market for the US to sell,

920
00:48:30,440 --> 00:48:32,480
Speaker 1: or any country to sell its gold hoards off. It

921
00:48:32,480 --> 00:48:35,040
Speaker 1: would be a real big problem that you don't need

922
00:48:35,040 --> 00:48:37,360
Speaker 1: to have. It's easier to just keep the gold in

923
00:48:37,440 --> 00:48:42,160
Speaker 1: Fort Knox instead, agreed, that's why it's still around.

924
00:48:42,200 --> 00:48:42,480
Speaker 2: You're not.

925
00:48:42,760 --> 00:48:44,879
Speaker 1: This turned out to be a pretty good aside from

926
00:48:44,960 --> 00:48:48,040
Speaker 1: soaka juwiyah and now I'm wondering if I even pronounced

927
00:48:48,040 --> 00:48:52,840
Speaker 1: wamp them correctly. Well, how humiliating, chuck.

928
00:48:52,800 --> 00:48:54,120
Speaker 2: Wampum was the real thing? You know?

929
00:48:54,880 --> 00:48:57,240
Speaker 1: Uh, if you want to know more about Fort Knox

930
00:48:57,280 --> 00:48:59,239
Speaker 1: and start looking at pictures of it, you'll you'll see

931
00:48:59,239 --> 00:49:01,319
Speaker 1: what we're talking about. And since I said you'll see

932
00:49:01,320 --> 00:49:03,160
Speaker 1: what we're talking about, it's time for listener mail.

933
00:49:06,080 --> 00:49:10,919
Speaker 2: I'm gonna call this Wetlands follow up from Donna. Hey, guys,

934
00:49:11,000 --> 00:49:13,040
Speaker 2: been listening for many years and always enjoy the shows

935
00:49:13,040 --> 00:49:16,120
Speaker 2: in the banter. Today, out of my morning walk, I

936
00:49:16,160 --> 00:49:21,040
Speaker 2: was listening to Wetlands, Wetlands, Wetlands, and serendipitously came upon

937
00:49:21,280 --> 00:49:25,319
Speaker 2: Cattails just as you brought them up. Wow, we love

938
00:49:25,360 --> 00:49:27,440
Speaker 2: this stuff, these little coincidences.

939
00:49:28,120 --> 00:49:30,320
Speaker 1: She's like, now, I'm listening to the four Knox episode,

940
00:49:30,400 --> 00:49:31,120
Speaker 1: so lay.

941
00:49:31,000 --> 00:49:35,120
Speaker 2: It on me. I'm tunneling in as we speak. It

942
00:49:35,200 --> 00:49:37,279
Speaker 2: was one of those weird coincidence moments that I just

943
00:49:37,280 --> 00:49:39,600
Speaker 2: had to record. I walked off the path into the

944
00:49:39,600 --> 00:49:43,040
Speaker 2: grasses and took a quick cattail selfie, which I included

945
00:49:43,040 --> 00:49:46,720
Speaker 2: in this email. Lovely picture. Growing up in New Jersey

946
00:49:46,880 --> 00:49:50,480
Speaker 2: in the eighties, cattails were called punks, and my dad

947
00:49:50,520 --> 00:49:53,440
Speaker 2: would take the dried out plants and light them to

948
00:49:53,520 --> 00:49:56,640
Speaker 2: keep away mosquitoes. That's what a punk is. Yeah, I've

949
00:49:56,640 --> 00:49:58,919
Speaker 2: never heard of that. Have you heard of that? Uh huh,

950
00:49:59,440 --> 00:50:01,759
Speaker 2: never heard of that. Back then, it seemed like a

951
00:50:01,800 --> 00:50:03,959
Speaker 2: normal thing to do. But having grown up and moved

952
00:50:03,960 --> 00:50:07,120
Speaker 2: away from New Jersey, who I have never come across

953
00:50:07,160 --> 00:50:10,520
Speaker 2: anyone that ever partakes in this practice anymore. With such

954
00:50:10,520 --> 00:50:12,680
Speaker 2: a huge part of my childhood summers, I'd forgotten about

955
00:50:12,680 --> 00:50:15,279
Speaker 2: it until now until listening to the episode, and then

956
00:50:15,280 --> 00:50:19,480
Speaker 2: I happen to walk upon some in the adjacent marshes

957
00:50:19,520 --> 00:50:22,680
Speaker 2: in that moment truly delighted me. Mosquito season is over,

958
00:50:22,760 --> 00:50:25,560
Speaker 2: where I live now in DC. But on next summers

959
00:50:25,600 --> 00:50:27,560
Speaker 2: to do list is to cut some cat tails from

960
00:50:27,600 --> 00:50:31,239
Speaker 2: the Parkland and introduce my two teen sons to that

961
00:50:31,320 --> 00:50:32,839
Speaker 2: distinctive punk smell.

962
00:50:33,160 --> 00:50:36,560
Speaker 1: That made me against federal law. Now though, oh, really

963
00:50:37,400 --> 00:50:41,640
Speaker 1: taking punks from the Parkland, it seems like against the law.

964
00:50:41,880 --> 00:50:44,440
Speaker 2: Well, I'll tell you what, Donna H. Look into that.

965
00:50:44,600 --> 00:50:46,839
Speaker 2: We don't want you to get in trouble, that's right,

966
00:50:47,239 --> 00:50:49,680
Speaker 2: or to do anything you shouldn't do. But I get

967
00:50:49,680 --> 00:50:52,840
Speaker 2: the urge to want to introduce things to your children

968
00:50:52,880 --> 00:50:55,360
Speaker 2: that you did back then that weren't necessarily proper.

969
00:50:56,080 --> 00:50:58,799
Speaker 1: Yes, but the nanny state will say no and throw

970
00:50:58,840 --> 00:51:00,680
Speaker 1: you in jail. Try it, Donna.

971
00:51:00,840 --> 00:51:03,240
Speaker 2: Yeah, maybe, I mean where I saw the wetlands recently

972
00:51:03,239 --> 00:51:05,320
Speaker 2: where I was hiking here in Arabia Mountain. You can't

973
00:51:05,640 --> 00:51:09,880
Speaker 2: beautiful granite outcroppings part of Stone Mountain actually, and you can't.

974
00:51:10,320 --> 00:51:11,640
Speaker 2: My daughter wanted to take those rocks.

975
00:51:11,640 --> 00:51:14,319
Speaker 1: If you can't take the rocks, you go get thrown

976
00:51:14,360 --> 00:51:15,439
Speaker 1: in jail by the nanny state.

977
00:51:15,480 --> 00:51:17,120
Speaker 2: You can't do it. You gotta leave those rocks.

978
00:51:19,000 --> 00:51:20,480
Speaker 1: What else did Donna say anything else?

979
00:51:20,560 --> 00:51:22,240
Speaker 2: No, that's it. That's from Donna H.

980
00:51:22,360 --> 00:51:24,480
Speaker 1: That was great, Donna, thank you very much. Be careful

981
00:51:24,520 --> 00:51:26,839
Speaker 1: with the cattails. We won't tell if you do, but

982
00:51:26,960 --> 00:51:29,759
Speaker 1: we just don't want you to get in trouble. We're

983
00:51:29,760 --> 00:51:32,799
Speaker 1: no snitches. If you want to get in touch with us,

984
00:51:32,840 --> 00:51:35,440
Speaker 1: like Donna did, we want to hear from you, and

985
00:51:35,520 --> 00:51:38,080
Speaker 1: you can send us an email to Stuff podcast at

986
00:51:38,120 --> 00:51:42,760
Speaker 1: iHeartRadio dot com.

987
00:51:42,960 --> 00:51:45,840
Speaker 2: Stuff you Should Know is a production of iHeartRadio. For

988
00:51:45,960 --> 00:51:50,120
Speaker 2: more podcasts my heart Radio, visit the iHeartRadio app, Apple Podcasts,

989
00:51:50,239 --> 00:51:52,080
Speaker 2: or wherever you listen to your favorite shows.