The government supposedly maintains over 8,100 metric tonnes of the yellow metal in its reserves, spread out across three main bullion depositories (for reference, the second-largest gold reserves owned by Germany total less than half of the U.S. stockpile). The Mint and the GAO were sanctioned to audit a portion of the Treasury's gold. The last time anyone had access to inspect the deposits was on September 23, 1974. . there has not been anyone allowed access to confirm the gold amounts that are supposedly stored at the Fort. The fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic. Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. The last full audit was done in 1953 . US Mint Releases New Fort Knox "Audit Documentation": First Critical Gold verification at Fort Knox March 1998, page 1. Several more examples of these blurry situations are shown in the released documents. In October 1984, 4,136,046.924 fine troy ounces of gold were reaudited at the United States Mint, Denver. There has not been any movement of inventoried gold since that time. Paul has introduced legislation that would require an independent audit of the 5,000 plus tons of gold bullion that is believed to stored in the Fort Knox, Kentucky vault. fort knox crisis phone numbers. It was decided to destroy several audit and assay reports and no less than 1,700 tonnes needed to be re-audited. Coins, Precious The U.S. gold reserves at Fort Knox are broken into different numbered compartments within the gold vault. Built in 1936, security access for the facility make it difficult to get access. Shipping within New Zealand. What the Hell is This?: Mnuchin Tweets on Fort Knox Gold The other two-thirds, however, have not been inventoriedthat is according to my understandingor assayed since somewhere between 1975 and 1986. Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. After 40 years, Fort Knox opens famed vault to civilians At the end of Fiscal Year of 2008, all 42 compartments had been audited by either the GAO, the Committee for Continuing Audit of the U.S. Fort . Former US Mint director Edmund Moy has stated in 2013 US reserves contain mainly coin bars because of the great confiscation in 1933 by President Roosevelt, when US citizens were forced to hand in all physical gold. Published: 22:22 GMT, 21 August 2017 | Updated: 06:57 GMT, 22 August 2017, Honored guests: Treasury Secretary Steve Mnuchin (left) and Senate Majority Leader Mitch McConnell (right) outside the main door to the United States Bullion Depository at Fort Knox on Monday. US Mint Releases New Fort Knox Audit Documentation. The official story from OIG is that 100 % of the gold stored at Fort Knox was audited in between 1974 and 1986, . In my previous post, from March 2018, on the audits of US official gold reserves, I have exposed that during the audit procedures of the US official gold reserves from 1974 through 2008, repeatedly audit staff deviated from the auditing . 2021 what a year, Fort Knox! | Article | The United States Army The depository was built following U.S. President, Franklin D. Roosevelt's, controversial 1933 legislation - Executive Order 6102 - which outlawed the private ownership of gold bullion. Here is a rundown of some of Kooss key findings. noting that it was "over 20 years" since the last one. Tuesday March 22, 2016 13:20. Join FORT KNOX code Axykp! ', Last time: This picture dates from 1974 - the last time civilians were allowed inside - and shows Mrs. Mary Brooks, Director of the Mint surrounded by gold in one of Fort Knox's vaults, While primarily known as a vault for gold, the depository also held the Declaration of Independence and the U.S. Constitution during World War II. In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. Buy for Vault Storage in New Zealand More from the 1985 report: The audit procedures followed [at the FRBNY] were essentially the same as those followed at Mint institutions except that assay samples were not taken to verify the purity of the gold and the audited gold was not under committee control after the audit. Matt Bevin. U.S. Congressman Seeks Full Audit of America's Gold Reserves - Yahoo! Kinross Gold Corporation's Fort Knox Mine Achieves Fifth Certification I will, however, submit a couple of new FOIAs at the US government regarding gold audits. Did The Dutch Central Bank Lie About Its Gold Bar List? Buy for Vault Storage in the United States In an audit conducted at Fort Knox in 1953, 88 ingots were counted for verification. Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. $800 weekly hand count free roll. Where's The Gold! ? Is Fort Knox Empty? - common-sense-in-america.com I have copied as much quotes in this post as I can to minimize the possibility of an erroneous interpretation of the official text in the audit reports. President Reagan last spring demanding that this be looked into immediately. An intruder standing on the roof of the Fort Knox Bullion Depository on the morning of September 11, 2015 would have seen the sunrise in the east. I'm a vet, and here are five dog breeds most prone to cancer - including Golden Retrievers and Rottweilers. Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. Determined to uncover more about the bullion stockpile, BullionStars Koos Jansen submitted a number of Freedom of Information Act (FOIA) requests to the U.S. Mint. Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! Fort Knox is a U.S. army base in Kentucky, best known for the United States Bullion Depository which holds a large part of the U.S. government's reserves of gold. The coin bars topic, which ties together with the existence of the US official gold, deserves a thorough study to be expanded upon in a separate post. Fort Knox history. Exhibit 7.2. And we attempted to contact a records management officer at the Treasury Department, but did not receive a reply as of the date of this letter. Has the Federal Reserve Sold the Gold at Fort Knox? The public may never know. My FOIA request had disappeared, or did it? Our staff conducted a search using the National Archives Holdings Management System under the following records group numbers: RG 50 Treasurer of the United States, RG 56 General Records of the Department of the Treasury, RG 82 Federal Reserve System, RG 101 Office of the Comptroller of the Currency, RG 104 U.S. Mint, and RG 425 Financial Management Service. US Government Lost 7 Fort Knox Gold Audit Reports "good delivery" gold bars. Two tetrahedron-shaped chips were removed form the top and bottom of each bar assayed. Maybe a room or two full of gold but the rest is gone. However, as Ive written in my post Where Did The Gold In Fort Knox Come From? As a freebie trip for 4 select political insiders, last Monday's trip to Fort Knox was undoubtedly a memorable one . Next, we can see Thorsons list he presented of physical gold audit reports of the continuingaudit program from 1974 to 1986. While primarily known as a vault for gold, the depository also held the Declaration of Independence and the U.S. Constitution during World War II. More than half of . But, the OIG disclosed assay reports of the audits of 3 % of the US official gold reserves stored by the Mint at the congressional hearing in 2011 (exhibit 3 and 4). Fort Knox Scandal - Chapter 20 - Bill Still's Monetary Reforum Equal Employment Opportunity. If official documents come to surface I will report accordingly. "We have approximately $200 billion of gold at Fort Knox," said Mnuchin. The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." Although this rumor or theory is simply that, the remarkably high security that guards the U.S. gold reserves has understandably drawn the curiosity of the investigative press. Exhibit 7.1. Ron Paul introduced a bill that would require the Fed to manually audit every U.S.-owned gold . Hisstatement 100 percent of the U.S. Governments gold reserves in the custody of the Mint has been inventoried and audited is impossible to confirm, as well see later on. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. China Gold Import Jan-Sep 797t. Then let's raise a glass to a slower, quieter 2022 . 'It's not even the annual funding level for some of our large departments in the federal government,' he said. What his dogged FOIA requests have failed to reveal, unfortunately, is anything that would put the questions about the Fort Knox gold to rest. In an interview, McConnell said he could not say much about the visit for security reasons. Atthe congressional hearing in 2011 the IG stated to be 100 % certain all gold stored by the Mint was inventoried and audited, yet his department had accessto only a fraction (4) of all audit reports (13). However, how trustworthy is this system of accounting? Liberty, Bush Your browser is out of date. PBOC Gold Purchases: Separating Facts from Speculation. previous, back to . At the congressional hearing of the Gold Transparency Act (H.R. Not that it would be easy to even make it this far, but the door to the vault is made of steel and . Company Registration No. Fort Knox Policies. Senate Majority Leader Mitch McConnell and other Kentucky politicians went to the United States Bullion Depository at Fort Knox for the first time since 1974, Reassurance: Treasury Secretary Steve Mnuchin tweeted out thanks to the US Mint and confirmed that the gold is all safe. eonon change home screen. Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. But by 1986, you had 97 percent was audited. Each and every bar there should be assayed in a full, independent audit. 1495,not enacted) in 2011 the Inspector General (IG) of the Treasury presented a case all is fine, but all is not fine. GAO stands for General Accounting Office, OIG stands for Office of Inspector General. Not only were the vault compartments at the FRBNY exempt from being sealed, in addition, for an unknown reason assay tests were never performed at the FRBNY! 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. From the 1985 report: In fiscal year 1985 audits of Government-owned gold were conducted at the United States Mint in Denver and the United States Bullion Depository in Fort Knox, Kentucky. The Treasury document says it would cost about $15 million to conduct an audit. The documents also include new details about Mnuchin's activities at Fort Knox, where the Treasury stores a stockpile of gold with a market value it estimates at $190 billion. Currency, Shop All
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