Treasury Secretary Mnuchin Tweets from Fort Knox “Glad the gold is safe.”

WE NEED TO COUNT IT, NOT TAKE A BANKER’S WORD FOR IT.

Is the word of an ex-

Bloomberg

U.S. Treasury Secretary Steven Mnuchin paid a rare official visit to Fort Knox to check out the nation’s gold stash on Monday — while keeping an open mind for future film projects.

“I assume the gold is still there,” the former Hollywood producer quipped to an audience in Louisville, Kentucky, 40 miles (64 km) north of the U.S. Bullion Depository. “It would really be quite a movie if we walked in and there was no gold.” After the visit, he playfully reassured Americans the treasure was still secure.

“Glad gold is safe!” he wrote in a post on Twitter.

Fort Knox has been seared into the public imagination since the 1964 James Bond movie “Goldfinger,” in which the British spy, played by Sean Connery, foiled a plot to contaminate the nation’s bullion.

Mnuchin, whose action-film credits include ‘‘Mad Max: Fury Road,” “The Lego Batman Movie” and “Suicide Squad,” said that he would be only the third secretary of the Treasury to go inside the vault since it was created in 1936 by President Franklin Delano Roosevelt.

“We have approximately $200 billion of gold at Fort Knox,” said Mnuchin. “The last time anybody went in to see the gold, other than the Fort Knox people, was in 1974 when there was a congressional visit. And the last time it was counted was actually in 1953.”

Rand Paul argues that it’s time to audit the Fed. I assume that a thorough audit would include counting the gold in Fort Knox.

It is time to defy the critics and pass the Federal Reserve Transparency Act, which would be a momentous victory for accountability and transparency and send the establishment’s head spinning, Kentucky Sen. Rand Paul wrote in an opinion piece in The Daily Caller on Monday.

More popularly known as “Audit the Fed,” the act would “open up the Fed’s agreements with foreign governments and central banks, its discount window and open market operations, its member bank reserves, and its Federal Open Market Committee directives to thorough examination by the people’s representatives — for the first time since its creation in 1913,” Paul wrote.

The act does this, Paul explained, by removing “the restraints on how the nonpartisan, independent Government Accountability Office can audit the Federal Reserve System, requiring the GAO to conduct an audit within one year of the bill’s passage and report back to Congress within 90 days of finishing it.”

Paul said that skeptics have said that since the nation’s central bank is one of the most powerful institutions in Washington, passing such legislation would never be feasible, but the senator credited “grassroots Americans” for making sure that congressmen don’t give up the struggle to make it into law.

The measure has already passed the House and last year missed reaching cloture by only seven votes.

Paul praised those supporting the bill as “concerned Americans who look down the road and wonder how much of our nation’s prosperity and opportunity will be swallowed up by debt or lost in financial crises fueled by artificial market signals and central planners’ economic tinkering.”

FUNNY BUT TRUE MUST READ: THIS IS HOW A STIMULUS PACKAGE WORKS

depression2

The great Zen Gardner hits a home run with this little gem of a story. I guarantee you it will get passed around.

Stay with this one. It is good.

It’s a slow day in the small town of Pumphandle and the streets are
deserted. Times are tough, everybody is in debt, and everybody is
living on credit.

A tourist visiting the area drives through town, stops at the motel,
and lays a $100 bill on the desk saying he wants to inspect the rooms
upstairs to pick one for the night.

As soon as he walks upstairs, the motel owner grabs the bill and runs
next door to pay his debt to the butcher.

(Stay with this….. and pay attention)

The butcher takes the $100 and runs down the street to retire his debt
to the pig farmer.

The pig farmer takes the $100 and heads off to pay his bill to his
supplier, the Co-op.

The guy at the Co-op takes the $100 and runs to pay his debt to the
local prostitute, who has also been facing hard times and has had to
offer her “services” on credit.

The hooker rushes to the hotel and pays off her room bill with the hotel Owner.

The hotel proprietor then places the $100 back on the counter so the
traveler will not suspect anything.

At that moment the traveler comes down the stairs, states that the
rooms are not satisfactory, picks up the $100 bill and leaves.

No one produced anything. No one earned anything. However, the whole
town now thinks that they are out of debt and there is a false
atmosphere of optimism and glee.

And that, my friends, is how a “stimulus package” works.