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The James Altucher Show

Is Fort Knox Empty!? | News You Might Have Missed

The James Altucher Show

James Altucher

Society & Culture, Talk Radio, Writer, Philosophy, Comedy, Chess, How To, Entrepreneurship, Jay, James, The James Altucher Show, Altucher, Author, Jay Yow, Education, Jay The Engineer, Business, James Altucher

4.6 • 2.7K Ratings

🗓️ 21 February 2025

⏱️ 31 minutes

🧾️ Download transcript

Summary

A note from James: I love digging into topics that make us question everything we thought we knew. Fort Knox is one of those legendary places we just assume is full of gold, but has anyone really checked? The fact that Musk even brought this up made me wonder—why does the U.S. still hold onto all that gold when our money isn’t backed by it anymore? And what if the answer is: it’s not there at all? This episode is a deep dive into the myths and realities of money, gold, and how the economy really works. Let me know what you think—and if you learned something new, share this episode with a friend! Episode Description: Elon Musk just sent Twitter into a frenzy with a single tweet: "Looking for the gold at Fort Knox." It got me thinking—what if the gold isn’t actually there? And if it’s not, what does that mean for the U.S. economy and the future of money? In this episode, I’m breaking down the real story behind Fort Knox, why the U.S. ditched the gold standard, and what it would mean if the gold is missing. I’ll walk you through the origins of paper money, Nixon’s decision to decouple the dollar from gold in 1971, and why Bitcoin might be the modern version of digital gold. Plus, I’ll explore whether the U.S. should just sell off its gold reserves and what that would mean for inflation, the economy, and the national debt. If you’ve ever wondered how money really works, why the U.S. keeps printing trillions, or why people still think gold has value, this is an episode you don’t want to miss. What You’ll Learn:  The shocking history of the U.S. gold standard and why Nixon ended it in 1971  How much gold is supposed to be in Fort Knox—and why it might not be there  Why Elon Musk and Bitcoin billionaires like Michael Saylor are questioning the gold supply  Could the U.S. actually sell its gold reserves? And should we?  Why gold’s real-world use is questionable—and how Bitcoin could replace it  The surprising economics behind why we’re getting rid of the penny Timestamp Chapters: 00:00 Elon Musk's Fort Knox Tweet 00:22 Introduction to the James Altucher Show 00:36 The Importance of Gold at Fort Knox 01:59 History of the Gold Standard 03:53 Nixon Ends the Gold Standard 10:02 Fort Knox Security and Audits 17:31 The Case for Selling Gold Reserves 22:35 The U.S. Penny Debate 27:54 Boom Supersonics and Other News 30:12 Mississippi's Controversial Bill 30:48 Conclusion and Call to Action

Transcript

Click on a timestamp to play from that location

0:00.0

Elon Musk tweeted out looking for the gold at Fort Knox.

0:06.2

There's a lot of conspiracy theories that gold might not be there,

0:09.1

and Elon Musk questions this.

0:10.5

So is the gold there?

0:11.6

Now, what would happen if he went there and, oh my gosh, there really isn't the gold there?

0:22.5

This isn't your average business podcast, and he's not your average host.

0:27.8

This is the James Altitcher show.

0:35.9

There is so much news coming out every day that there's a lot of news that is important

0:42.7

that people might have missed. So one thing that's really important, I see it going all over the

0:48.8

place. On Saturday, Elon Musk tweeted out, looking for the gold at Fort Knox. And Elon Musk then tweeted,

0:57.1

this gold is the property of the American people. I sure hope it's still there. And it's a

1:03.2

legitimate thing. First off, everybody's responding to this. Michael Saylor, who's bought billions of

1:08.8

dollars worth of Bitcoin. Be tweeted out, Bitcoin fixes this problem, which is interesting. I'm going to discuss that in a second.

1:14.7

But look, if people are nervous about the gold in Fort Knox and whether or not it's there,

1:20.3

it is an important thing to address. So in the next 20 minutes, I am going to describe everything

1:26.6

you need to know about the gold

1:29.4

at Fort Knox, whether or not it's there, what would happen if it's not there, what would

1:34.3

happen to the price of gold, and some other things about this too, like, you know, should we

1:40.3

get back to a gold-backed currency and so on?

1:44.9

In fact, one newspaper article I was reading today said,

1:48.2

we need to know if the gold of Fort Knox is there

1:50.7

because we need to know that the dollar is safe

...

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