Sarcasm and fantasy alert!

Gary Christenson – Elvis and I had lunch with last week.  We dined on Sasquatch burgers, fried Unicorn fritters, and we were joined by “the lone gunman.”  We had our special luncheon in the main vault room of the Fort Knox Bullion Depository in Kentucky.  It was practically empty so converting it to a dining area was relatively easy.

It was a fabulous lunch.  It is unfortunate that most of the gold had disappeared, but I suspect that the Chinese value our former gold more than the US ever did.

As a matter of curiosity, I did some quick math regarding Fort Knox gold.  The “official” gold is listed as about 147,000,000 ounces – a little less than $200 Billion at today’s prices.  For simplicity, round that up to $200 Billion and call it one Fort Knox Equivalent Unit, or one FKEU.

• Wall Street Bonuses for 2014 were about 0.14 FKEU.
• The State of Illinois unfunded liabilities for their pension plans are reported as about 0.4 FKEU.
• The annual expenses for the government of the State of California are about 0.55 FKEU.
• US government official expenses in the last 21 days were about 1 FKEU. Continue reading →