As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. eonon change home screen. China Gold Import Jan-Sep 797t. Has the Federal Reserve Sold the Gold at Fort Knox? Fort Knox sits on over 100,000 acres and houses 30,000 military personnel. Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? The compartments at the Mint were placed under official joint seal, whereas the FRBNY compartments were never placed under official joint seal (as we can read on page 11 of the 1980 audit report). Buy, ship and store bullion with BullionStar in/from different countries. Cookies are also used for the purpose of handling our system and services. Is the Coin Market Sleeping on Fairmont Collection Gold Coins? In short, the US National Archives could not extradite the 7 audit reports I requested. Try Army A-Z . New York man wears glasses that help him Isabel Oakeshott receives 'menacing' message from Matt Hancock, Ken Bruce: 'I always wanted to be a radio presenter from about 15', Pavement where disabled woman gestured at cyclist before fatal crash, Pro-Ukrainian drone lands on Russian spy planes exposing location, 'Buster is next!' Exhibit 7.2. Koos takes a sharp jab at how the government bureaucracy operates, inveighing (with cause) that it should be clear that the Deep Storage gold has not been audited by professionals, but the precious metals have been verified by imbeciles.. The 1974 Fort Knox audit by the GAO has been acknowledged and adopted by the continuing audits committee, so this it becamepart of the continuing audits. Alaska, USA . In the meantime I will fire several new FOIAs at the Office of the Inspector General and others. In addition to facilities in West Point and Denver, the Fort Knox facility-known as the U.S. Bullion Depository -stands out for its reputation as an impenetrable fortress. After 40 years, Fort Knox opens famed vault to civilians I would like to stress the importance of this failure to deliver the audit reports of 97 % of the official US gold reserves by the department directly responsible at this point in time. Gold verification at Fort Knox March 1998, page 3. All your favorite.50 games all in one club! He tweeted " Glad gold is safe! One of the mostsecure andinaccessible places in the world, the facility once held the Declaration of Independence and Bill of Rights. 2/ As of September 30, 1982, 100 percent of the gold stored at the depository [Fort Knox] was audited under the initial continuing audit program. Should America's Gold Reserves Be Audited? - Sound Money Defense BY . 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 Fort Knox: "Glad Gold Is Safe!". On February 25, 2015, I submitted a FOIA request in orderto obtain the audit reports drafted by the Continuing Audits Of U.S.-Owned Goldcommittee in 1975, 1976, 1978, 1979, 1982, 1983 and 1984. and until 2010, every member of . 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 . 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. If we carefully read the scarce audit reports available to us, wenotice the audit procedures were revised in 1983. Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. Royal Mint Launches First Coin in Myths and Legends Collection, Numismatic Crime Counterfeit Notes Sold Over Facebook, 1776 Continental Dollar Offered by David Lawrence Rare Coins, Grade This 1936-S Cincinnati Commemorative Silver Half Dollar, First King Charles III Coin From Pobjoy Celebrating the Accession, Dakota 1875 $5 Bank Note in Stacks Bowers Spring Auction. di And the vault has also been a setting place for several movies, the most famous being the 1964 James Bond film, Goldfinger when the titular character foiled a plot to contaminate thebullion. Moving on to the assay tests conducted at the US Mint. Us, ALL After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. Given all the protection, it seems obvious that billions of dollars worth of gold (or something) indeed resides at Fort Knox. Two tetrahedron-shaped chips were removed form the top and bottom of each bar assayed. 4,243 bars were relocated from vault Jcompartment 19, to vault J compartment 2, at the Denver depository. Next was the GAO; unfortunately they couldnt deliver anything I was looking for. His analysis has helped fill in the gaps about how much gold is passing into China each year, which is treated tantamount to a state secret by the Peoples Republic. Ron Paul wants gold at Fort Knox audited - Jun. 24, 2011 - CNNMoney Its glittering gold . Secretary Mnuchin's statements were not helpful. "Dear US Mint, We Gave You The FOIA Funds, Now Give Us The Fort Knox Audit Documents!", November 2016 "US Mint Releases New Fort Knox "Audit Documentation". 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. Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, U.S. Inside the lonely life of 'pavement killer': Neighbours reveal how 'childlike' disabled woman jailed for Tragedies of Everest: The adventurers forever frozen in ice after losing their lives scaling the world's 'Why the last-minute delay?' Coins, American The monetary gold stock of the United States totals 276.0 million fine troy ounces valued at $11.7 billion at the official rate of $42.2222 per fine troy ounce, and is stored in various federal depositories (table attached), the largest of which is at Fort Knox, Kentucky. In the 1980 report we can read the audit procedures and a few other snippets (well quickly jump through) that help us understand how and where the audits were conducted: Audit procedures included (1) inspecting the joint audit committee seals used to control compartments containing previously audited gold; (2) comparing the records for each compartment inventoried to the identifying information on the gold bars; (3) weighing, from each compartment inventoried, at least one randomly selected melt in each fifty melts (a melt, averages about 20 bars cast from one crucible of molten gold); (4) removing samples from a bar in each of the melts weighed and having the samples assayed; (5) verifying the mathematical accuracy of all inventory records; (6) verifying the inventoried gold to the institutions records; (7) verifying the quantities shown by the institutions records to the control accounts for gold maintained by the Bureau of the Mint and to the central accounts maintained by BGFO; (8) placing audited gold bars in compartments under Official Joint Seal and audit committee control; and (9) reviewing and evaluating internal controls and security procedures. when was the last time fort knox was audited - hugs.finance when was the last time fort knox was audited. Treasury Secretary William E. Simon issued the invitation to Congressmen to inspect the gold at Fort Knox. Government-owned Gold performed annual audits of Treasurys gold reserves from 1975 to 1986, placing all inventoried gold that it observed and tested under an official joint seal. Every year the gold in Fort Knox is audited by checking the official joint seals that were placed on all vault compartments during the continuing audits of U.S.-owned gold from 1974 until 1986, when allegedly 97 % of the (Deep Storage) gold was inspected. Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. There was no assay report included in the audit report. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . Who was the last person to actually see the gold in Fort Knox? The answer is, he cant. We asked the experts - and their answers will terrify you Public Service Announcement, do NOT watch these ads! document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. The last time Fort Knox had opened its vault to civilians was more than 40 years earlier. If you subscribe to this theory, the incredible amount of protection at the U.S. Bullion Depository is for little more than a pile of IOUs. The audit will be performed by a committee of auditors from the U.S. General Accounting Office (GAO) and the Department of the Treasury. This is what it said: This is in response to your March 2, 2015 Freedom of Information Act (FOIA) request for records in the custody of the National Archives and Records Administration (NARA). You requested access to audit reports of the United States Department of the Treasurys official gold reserves published by the Committee for Continuing Audit of the U.S. Shipping within New Zealand. When I logged in at my account at the FOIA website, I saw my request had disappeared. Company Registration No. 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. A second storage facility was built at the same time: . Fort Knox - RationalWiki Inside the famed vaults at Fort Knox, Senate Majority Leader Mitch McConnell held a 27-pound gold bar in his hands Monday as part of the first civilian delegation to see most of the country's bullion reserves in more than 40 years. While this sum is unreasonable, a crowdfunding campaign donated the total in less than 24 hours (strangely enough, the Mint never actually cashed Kooss check, and nearly all of the money was eventually refunded.). The gold is held as an asset at a value of $42.22 per ounce. The audit announced, however, would include just 20% of the gold. Not that it would be easy to even make it this far, but the door to the vault is made of steel and . On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued. Though the media and members of government were allowed access in 1974 to take pictures, the last actual audit of Fort Knox occurred in 1953 immediately after President Dwight Eisenhower's inauguration. This was the first time the OIG was responsible for the audits of the gold at the Mint (note, this same OIG is still responsible for the audits). The reports I did find, and are now publicly available, are: Coincidentally, or not, these reports are exactly the same ones as listed by Thorson at the congressional hearing in 2011 (exhibit 1, framed in red). So once you have done that, and that seal remains unbroken, then I am not sure what other benefit there would be to going back into it at that point. PDF AUDIT REPORT - BullionStar The facility also featuresvideo cameras, motion detectors, and secret microphones, all set to pick up the presence of anyone or anything that doesn't belong. The reports were not present at the National Archives, the OIG or at the Treasury Department. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. Did audit reveal missing gold . The US Treasury currently owns 8,134 tonnes of gold of which 7,716 tonnes is stored by the US Mint (4,583 tonnes at Fort Knox, 1,364 tonnes in Denver, 1,682 at West Point) and 418 tonnes at the Federal Reserve Bank Of New York. Bureau of Government Financial Operations [BGFO]. By Patrick A. Heller. For this post well focus on the continuing audits of U.S.-owned gold, as these audits should proof there is gold in Fort Knox. On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. Doubts About America's Official Gold Holdings: The US Gold Reserve No irregularities were found. For the best and most secure experience in our catalog, please update your browser. Murdaugh is heckled as he leaves court, Moment teenager crashes into back of lorry after 100mph police race, Ken Bruce finishes his 30-year tenure as host of BBC Radio 2, Family of a 10-month-old baby filmed vaping open up, Missing hiker buried under snow forces arm out to wave to helicopter, Insane moment river of rocks falls onto Malibu Canyon in CA, Fleet-footed cop chases an offender riding a scooter, Ukrainian soldier takes out five tanks with Javelin missiles. Fort Knox gold subject of hearing. Many conspiracy theorists - like the Gold Anti-Trust Action Committee (GATA)- believe the gold doesn't really exist, there isn't as much as the government claims, or the government has sold it off for years. A waiting list may be . Lets recap what weve studied in the previous posts. All News, Articles, Commentary and Opinions are contributed by the author(s), with or without compensation, who are solely responsible for the content, and do not represent CoinWeek Management. Protected by a 109,000-acre U.S. Army post in Kentucky sits one of the Federal Reserve's most secure assets and its only gold depository: the 73-year-old Fort Knox vault. Fort Knox Looted of 7,000 Tons of Gold in 1973-1974 says 1981 Article! Each and every bar there should be assayed in a full, independent audit. A congressional delegation and some journalists got a look at the gold in 1974. CoinWeek: Rare Coin, Currency, and Bullion News for Collectors, it should be clear that the Deep Storage gold has not been audited by professionals, but the precious metals have been verified by imbeciles., submitted a number of Freedom of Information Act (FOIA) requests, Kolbe & Fanning Booksellers Buy or Bid Sale #3 Today Through March 15, Selections from Atlas Numismatics New Ancient, World Coin Inventory, Lesser Known History of the US Mint in Saudi Gold and Other Tales, Bitcoins and Physical Cryptocurrency in Stacks Bowers Auction. Connecting thereto, from Thorsons opening statement: My office began conducting annual audits of the gold reserves in Fiscal Year 1993. Maybe a room or two full of gold but the rest is gone. Fort Knox | Military Base Guide At the congressional hearing of the Gold Transparency Act in 2011 Inspector General (IG) Eric Thorson stated: Before I discuss the details of the audits that are the topic of this hearing, I want to make one point very clear: 100 percent of the U.S. Governments gold reserves in the custody of the Mint has been inventoried and audited. It basically coveredby 1986, 97 percent of the Government-owned gold held by the Mint had been audited and placed under joint seal. In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). Gold all there when Ft. Knox opened doors - Numismatic News Why might the government entrust such inexperienced employees with this important task? www.smartaccess.us . At Fort Knox, we are about people - great service members, outstanding civilians . The First Critical Observations. 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. When will the Beast from the East be at YOUR door? initial 1974 Fort Knox audit which was conducted by GAO and Treasury auditors. He also mentioned that despite this being the first visit by a group of politicians and journalists to Fort Knox since 1974 - he was the first serving Treasury Secretary to visit since 1948. And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians. In 1936, Fort Knox military base was chosen as the site to build a bullion depository to store this gold. Fort Knox Operation . McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself. but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . If official documents come to surface I will report accordingly. This would last until 2010 when the Armor School was relocated to Fort Benning, Georgia. According to some sources, this is where most of the other Treasury's gold is located. Mnuchin's Visit to Fort Knox l JM Bullion Sevenreports are missing. 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. Following the Second World War, with the United States emerging as the lone remaining superpower, the countrys gold holdings reached as high as 20,000 tonnes! 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. 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. However, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. Representative Alex Mooney (R . Other problems sound laughable in their incompetence. This post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits. U.S. Government Gold Reserve Auditor Deceptions *In 1977, presumably, one bar in every fiftieth melt (one melt is approximately 20 bars) was assayed, irregularities were found in two melts, the vault had to be opened twice more in the presence of the Joint Sealing Committee and the gold reevaluated. Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. However, no outside experts were allowed in during the audit, and only about 5% of the gold was actually tested. By also inviting the press to witness the Congressional inspection, the Mint is clearing away cobwebs and re-assuring the public that their gold is intact and safe. In 1977 the New York assay office, which is a subsidiary of the US Mint, conducted the assays. 1495,not enacted) in 2011 the Inspector General (IG) of the Treasury presented a case all is fine, but all is not fine. Over 640,000,000 ounces of real money sat behind those massive locked doors. I shall rest here. In June 1975, the Treasury Secretary authorized and directed a continuing audit of U.S. 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 . Since there are far too many gold bars to count at once, the audit is carried out piecemeal and only small samples are taken for assaying. However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. The assayer is unknown and no assay reports have been included in the audit reports. They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. 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. A movie producer before becoming treasury secretary, Mnuchin told a group of Louisville business leaders earlier in the day it was important for him to see the gold to attest that 'it is part of our national assets. In 2008, presidential candidate Ron Paul unsuccessfully called for an audit of the US Federal Reserve and Fort Knox,but his skepticism echoed that of other conspiracy theorists. Gold verification at Fort Knox March 1998, page 1. 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. I also want to assure you that the physical security over the gold reserves is absolute. Fort Knox Gold: Myth or Reality? - jackhunt.com US Army Cadet Command Headquarters | Military Base Guide Official joint seal number 932 put in place on September 2, 1982, under the continuing audits of U.S.-owned goldstored at the Mint. Lets read more about the audits at the FRBNY conducted under the continuing audits program, a quote from the 1981 report: The audit procedures followed [at the FRBNY] are essentially the same as those followed at Bureau of the Mint depositories, except that assay samples are not taken to verify the purity of the gold. In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. Ron Paul questions whether there's gold at Fort Knox, NY Fed Despite the fact that a 1953 Fort Knox audit found that 1977% of bullion tested was out of , in 2, we went to 1998% verified ingots. Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. He said this, but there is no proof. ByI forget which date it was, I believe by 1986, wehold on just one second here, I got it. ', 'All I will say is that it is freakishly well secured,' he said. fort knox crisis phone numbers. in 2004 the assayer was Ledoux & Company, a private contractor (read their homepage). Shipping within the United States Where's The Gold! ? Is Fort Knox Empty? - common-sense-in-america.com Mnuchin's PR Visit to Fort Knox proves nothing about the - GoldSeek Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. Official Joint Seal inspection records from Fort Knox, June 1998 (courtesy of Koos Jansen through Freedom of Information Act). US citizens were required to sell their gold bullion - bars and coins - back to the State. Mint Medals, Shop All Paper Find out what Uber drivers really think of you! Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. 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! CHARLOTTE, NC / ACCESSWIRE / May 26, 2021 / America's gold reserves would be audited for the first time in more than 60 years if a measure introduced yesterday by U. Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. Official records claimed 20,000 tons in the 1950s. Facilities, Production Buffalo Coins, American Eagle Koos mainly provides unique insights about Chinese gold market. The target this time is the United States Treasury Assay Office in New York . Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. Conclusion. U.S. Mint Releases Fort Knox Audit - CoinWeek If Ft. Knox Isn't Empty | Gary North -- Specific Answers Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . There Is No Proof All Gold Is In Fort Knox. 3. Although gold bars tested to be out of tolerance during a Fort Knox audit in 1977 at a sample size of 2 %, by 1998 the sample size had been further debased to 0.53 %. Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. By using our website, you accept that cookies are used. Two months later I still got no response. In October 1984, 4,136,046.924 fine ounces gold was reaudited. It was a magnificent golden sunrise that inspired visions of glory, wealth, and beauty. The WORST care homes in England: Interactive map reveals the lowest-rated 2,530 residences - so is there one Do YOU know your Adam and Eve from your Ruby Murray? The process would take about 30 minutes to verify the gold content of each bar, or 350,000 man hours; to do that . This is remarkable. Reversal of this policy on a one time only basis came as a result of a series of peculiar events that resulted in a congressional demand for an audit of the bullion depository, and a first-hand viewing of the gold deposited there. Exhibit 2. For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. Fort Knox Security: The Most Heavily Guarded Place - Reader's Digest The U.S. gold reserves at Fort Knox are broken into different numbered compartments within the gold vault. "Glad the gold is safe!". The Mint estimated that as much as one-third of the gold reserves were examined during this period. 213K subscribers in the Wallstreetsilver community. Ledoux & Company found no irregularities in 2004. You can change the usage of cookies in your browser. 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). Medals, Treasury and Mnuchin said it was the first time Fort Knox opened its vaults to outsiders since a Congressional delegation and some journalists were let in to view the gold for the first time in 1974. Do you think it would be worthwhile, at least, to inventory and assay this portion of the Mint-held gold? However, a Freedom Of Information Act request Ive submitted in order to obtain all audit reports could not be honored. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.