Hearing June 22 2011

The hearing discusses recent audits of U.S. gold reserves; challenges to conducting a full audit; and impediments to an accurate assessment of the US gold position, including any leases, swaps or other encumbrances placed upon the gold reserves; and also examines changes to the legislative proposal that will ensure a full and accurate audit, assay, and inventory of U.S. gold reserves.

The hearing entitled "Investigating the Gold: H.R. 1495, the Gold Reserve Transparency Act and the Oversight of United States Gold Holdings," was held on Thursday, June 23 at 2:00 p.m. in Room 2128 of the Rayburn House Office Building.

Witnesses testifying:

Gary T. Engel, Director, Financial Management and Assurance, Government Accountability Office

Eric M. Thorson, Inspector General, Department of the Treasury

Category:

News & Politics

Tags:

• ron
• paul

[sciflyer67]

Who replaces the seals? Who breaks the seals? Who get to see the seals?

25 years is far too long a time to believe anything has not changed.

How hard can it be to audit the gold? We know where it is, it's not like we don't know where to find it. Or do we...............?

If we have Billions to spend on illegal wars, we can afford to audit the gold reserves.

[jjcale1111]

No one can say this hearing was a wast of time - we found out they dont know the status of the gold pledged to the IMF... amazing.

[m015094]

Check out the lady's face when Engel says at 103:30 that part of the gold bars are destroyed during the assays. I guess she's never done a metal assay.

[m015094]

I like Ron Paul, but he's being stupid about this. If Ron Paul wants a list of every single gold bar and go through 10,000 pages of numbers he's more than willing to.

[suddenlyitsobvious]

...read a few files on it the previous evening...

[suddenlyitsobvious]

I think it's obvious, after listening to Schweikert's and then Paul's last questions that these hearings are pretty much a farce and haven't elucidated even the most elementary basics of the gold-situation. No hard questions were asked besides the inventorisation of IMF pledged gold.

It is clear that noone on the panel besides Paul has tried to even scratch the surface. In fact, they hardly look interested at all, as if they've allocated an hour for some quick questions before lunch, having...

[suddenlyitsobvious]

...transparent, wherefore Mrs Maloney's line of inquiry, that's basically the exact same as Jones' earlier inquiry, is bizarre. Doesn't she realize that if the auditors can't even give a basic pic of IMF-pledged gold, there's a real problem? Apparently she's just about capable of reading a question from a piece of paper & not intellectually equipped to follow the proceedings. How pathetic to keep asking about the cost for taxpayers of a transparent audit.

[suddenlyitsobvious]

*Rep Luetkemeyer

And what's with the 5 minutes? Doesn't seem a way to get to the bottom of anything.

At last!! 0:48:00: FINALLY a slightly more interesting question & Thorson immediately starts to sweat, spin & get confused. How amazing he keeps spinning even after Ron Paul reformulates Luetkemeyer's question in the most perfectly clear terms!

That Thorson can't answer an exceedingly simple question about the auditing & accounting of US-gold pledged to IMF shows NOTHING is...

[suddenlyitsobvious]

...Jones' 5 minutes: wasted. He's basically apologizing to these respectable men for the public's paranoia.

0:36:45: Lietmeyer's unspecific & hyothetical question about how the agencies' operations would be affected & transformed in case of a return to the gold standard is equally an utter waste of time.

One would expect these congressmen to have done some homework b4 such hearings but it's becoming apparent that they are pretty much as unfamiliar as any youtuber is with the entire situation.

[suddenlyitsobvious]

...through asking the right questions. It would seem that Clay isn't too smart...

[suddenlyitsobvious]

0:25:47: What kind of question is THAT? Clay has 5 minutes to ask some questions and he starts with THAT?

I'm really waiting for Paul to tighten the screws because after all, what's at interest here is what's going on with the gold, and since it's pretty obvious that in this banksters-controlled world the people are being robbed blind systematically, we already know that the gold situation MUST STINK.

It's merely a question of a sufficiently clever & informed individual finding out in what way..

[MattyTheMole]

The value of everything including gold is going to have no social value for currency has bought itself out to foreign interest to save their ecomony. In fact, in the united states to say the least, fresh soil and dirt is going to have more value than any other precious metal or stone. I wonder what will happen to people when they realize the ground they walk on and what comes out of it is worth more than what they take from it to build their mercedes, diamond jewelry, or pot they piss in.