Imagine it was 1937 and you stored your gold with someone… let’s call them Uncle Sam.
After about 20 years you told Sam that you’d like to see the gold and make sure it was still there. He said sure; you can come and take a quick look. And you did… and you were satisfied that it looked like the gold was still there.
Decades then went by… more than 40 years in fact… and you told Sam that you’d like to make sure the gold is still there.
He replied, ‘Sure, but you can’t count it or touch it or anything. You can just look through the window and see it is still there.’
‘Oh, and another thing,’ said Sam, ‘We get to select the person who can take a quick look.’
You’d start to get quite suspicious, wouldn’t you? It had been more than 40 years since you were even allowed to see the gold and more than 60 years since the last time Sam allowed you to count it.
‘Who do you select to take a look for us?’ you asked, eyebrows furrowed.
‘Steve Mnuchin,’ said Uncle Sam.
This post was published at Dollar Vigilante on August 24, 2017.
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