In his television and radio shows this week, Glenn Beck warned of the potential for a “cataclysmic” collapse of the economic system. He pointed to the U.S. Federal Reserve’s return of Germany’s gold as a key warning sign.
“Subprime crisis, do you remember that?” Beck asked. “Imagine that crash on a global scale, and instead of houses its gold, which backs all of our money, and gold that is not really owned by anyone. Our money becomes worthless.”
He questioned whether the U.S. still actually possesses the gold that is supposed to be held within its vaults. He suggested that the U.S. has been spending that gold and pointed to the strange methods in which the recently repatriated gold was delivered to Germany.
Beck referenced a report from Zero Hedge indicating the initial gold returned to Germany by the United States “didn’t have the stamp on it.” The Federal Reserve reportedly said it had to melt down the gold for transport.
Beck noted that details are scarce and virtually impossible to confirm, but speculated: “I think this is your first real indication that there is no gold. There is no gold in Fort Knox. There is no gold in the Federal Reserve.”