Investment Rarities Incorporated
History |  Q & A  |  Endorsements  |  Portfolios  | Flatware | Gold Coins  |  Silver Coins  |  Contact |  Home


Jim Cook



Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

..Read More »

The Best of Jim Cook Archive

Best of William Histed
April 15, 2011
archive print


 Art Linkletter used to be a household name.  Art died in 2010 at the age of 97.  He one had a top rated national TV show in which he coined the phrased,"Kids say the darnedest things."  In memory of Art, here is a conversation that "could have" taken place between a father and his son or daughter.

SON: "Dad,my teacher said there's a lot of gold in Fort Knox at the U.S Bullion Depository."
DAD: "The government claims there are 147.2 million troy ounces of gold in Ft. Knox."
SON: "How did it get there?"
DAD: "Many tons of it by train cars after Roosevelt called in the gold."
SON: "Where did it come from?"
DAD: "Some of it from everyday people who were told they had to turn in their gold coins to the government."
SON: "Why did they do that?
DAD: "To take it out of everyday circulation and hoard it away from the pubic."
SON: "I saw a picture of an old $20 gold mean like that?"
DAD: "Exactly."
SON: "When did that happen?"
DAD: "A long time before you were born. In the 1930s.
SON: "What happened?"
DAD: "The government basically gave people a $20 paper currency for each $20 gold piece."
SON: "How much would that $20 gold piece be worth today?"
DAD:  "Depending on date and condition, around $1,500. A lot more for rare dates."
DAD "Wow is right."
SON: "Then how much would the $20 paper money in the 1930s be worth today?"
DAD: "Probably around 50 cents."
DAD: "Wow is right."
SON: "What do they do with all the gold in Ft. Knox? Did there used to be more gold there?
DAD: "We pay to store it there. There were 649.6 million troy ounces during World War II." 
SON: "What happened to all that gold that is gone?"
DAD: "A  lot of it went to our friends, especially in Europe, also the government donated some of it to so-called
International Monetary Fund, the World Bank and the like."
SON: "What did they do to get our gold?"
DAD: "They sent back our paper money we used to defend them for decades. A lot of it was redeemed for U.S. paper money."
SON:  "You mean the government told the people they should not have gold, but the government gave a lot of it away to foreigners for our paper money we basically gave them to protect them?"
DAD: "That's close to it."
SON: "So what will they eventually do with all of the gold still in Ft. Knox?"
DAD: It comes out to less than half an ounce for every man, woman and baby in the U.S.  That's not very much, about $700 or $800 per person even at today's record gold prices. If the paper dollar completey crashes,they might have to go back to the future,dust off OUR gold and give it back to use to trade with."
SON: "Does the government have other gold?"
DAD: "Well, there's the underground vault of the Federal Reserve Bank located in Manhattan."
SON: "How much is there?"
DAD: "The government says some, but there's a problem."
SON: "What's the problem?"
DAD: "A lot of it isn't ours."
SON: "Whose is it?"
DAD: "Belongs to other countries, foreign banks, international consortiums and so on.
SON: "Thanks for answering my questions, but I have one more.
DAD: "What is it?"
SON: "What does U.S. stand for, is it Uncle Sam...I don't have a Uncle Sam."

DAD: "No, but you have an Uncle Sap."