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Full Version: America for sale: Liquidate Assets to Avert Debt Ceiling Crisis
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The United States Treasury possesses 261.5 million ounces of gold, worth about $392.25 billion at current prices.

Some in Washington say the time has come for the country to sell some of its gold, along with other government assets such as land and buildings, to pay down the $14.3 trillion federal debt and give Congress more time to resolve the federal debt ceiling crisis.

"It's just sort of sitting there," Ron Utt, a senior fellow at the Heritage Foundation, a conservative think tank, told the Washington Post. "Given the high price it is now, and the tremendous debt problem we now have, by all means, sell at the peak."

U.S. Rep. Ron Paul, R-TX, agreed, telling the New York Sun that selling some of the Treasury's gold would be "a good and moral decision. An individual would have to do the same."

The Treasury's gold is just one asset some Republicans think could be liquidated.

http://moneymorning.com/2011/06/28/ameri...icans-say/
Sell gold to ease the debt? Raise taxes to ease the debt? Cut Medicare, public assistance, etc. to ease the debt?

Why not do the one thing that will wipe out the debt, STOP THE WARS! End the Fed!
Selling these assets, if the gold is actually still there or still ours(it was previously sold or the Chinese probably own it as it was conveyed to them as collateral), won't solve anything as the government spends this kind of money in a matter of days. What are we going to sell next? The Grand Canyon, the white house, tea parties with Obama? Also, they will need the gold for when the dollar is finished and another currency will be created with some type of actual value base, as people will likely not accept another fiat paper currency just like the one that failed.
That sounds so stupid to me that they want to sell the gold. If they do sell it, then if we still go into debt worse then we are now then what?? It wont last long believe me. Then to top all of that off, if they sell that much gold, wont the price of gold go down??

Guest

that's stupid! don't give away hard assets give up the paper money! Gold is actually worth something.
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