He tweeted " Glad gold is safe! The First Critical Observations. However, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. Is Gold in Fort Knox Real? Ron Paul Wants to Know - CNBC . previous, back to From the 1985 report: Sets, Commemorative Government-owned Goldare not in our collection." The U.S. Government Spent Fort Knox GoldHundreds of Times This suggests the gold at the FRBNY was stored so it could be easily transportedin and out of the vaults, possibly through a corridor to the adjacent private vault at 1 Chase Manhattan Plaza read this post by BullionStar gold researcher Ronan Manly for more information on the construction of the FRBNY vault and the connection to the vault across the street that was owned by JP Morgan, but recently bought by Fosun (October 2013), a Chinese investment conglomerate. Coin The target this time is the United States Treasury Assay Office in New York . Facilities, Production The answer is, he cant. Fort Knox Internal Review and Audit Compliance. However, how trustworthy is this system of accounting? Fort Knox Gold - History of Fort Knox | BullionByPost And the problem goes far beyond missing audit reports. Engraved Prints, Shop All Gift At this stage I havent been able to get my hands on any assay report from 1974 1986. According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! Cookies are also used for the purpose of handling our system and services. Fort Knox, Kentucky is an Army base with more than one hundred thousand acres stretching across three counties. The U.S. gold reserves at Fort Knox are broken into different numbered compartments within the gold vault. President Reagan last spring demanding that this be looked into immediately. 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. The usage of cookies and the collection of customer information by BullionStar is guided by our. 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. And the last time it was counted was actually in 1953." Then let's raise a glass to a slower, quieter 2022 . Rep. Paul Calls for Gold Audit, Questions Whether Fort Knox Is Empty The event, Sept. 23, 1974, is often inaccurately called the last audit of Fort Knox. To date,only one US president has been inside the vault - Franklin Delano Roosevelt, who served as president when the US Bullion Depositorywithin Fort Knoxwas established. Need Help? About 000% of them were weighed. My assumption is, these assays from 2004 2008 are all assays authorized by the OIG from 1993 2008 and therefor cover 3 % of the gold stored at the US Mint. Fort Knox Looted of 7,000 Tons of Gold in 1973-1974 says 1981 Article! The other two-thirds, however, have not been inventoriedthat is according to my understandingor assayed since somewhere between 1975 and 1986. 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. At Fort Knox, we are about people - great service members, outstanding civilians . Lets have a look. The next screen shot is from the reply by the FOIA help desk on May 6, 2015. Ron Paul wants gold at Fort Knox audited - Jun. 24, 2011 - CNNMoney . 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. All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? This document also contains a summary of the 1980 audit which, by the way, isnt less detailed than the full 1981 report. The gold stored in these compartments would get moved around if samples were taken for assaying during the audit. 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. He ought to have known precisely how many pages were needed and presumably where to find them. In response to a FOIA request the US Mint has finally released reports drafted from 1993 through 2008 related to the physical audits of the US official gold reserves. By Jennifer Liberto @ CNNMoney June 24, 2011: 11:58 AM ET. Over 640,000,000 ounces of real money sat behind those massive locked doors. The OIG audited 3 % from 1993 2008. I doubt an attempt to submitting a FOIA request directly to the Treasury Department will bring me anything; likely it will be a waste of time as I had already contacted all possible government departments separately, which could not deliver me the reports I was looking for despite none of them was unwilling to help me. Where's The Gold! ? Is Fort Knox Empty? - common-sense-in-america.com However, a Freedom Of Information Act request Ive submitted in order to obtain all audit reports could not be honored. The assayer is unknown and no assay reports have been included in the audit reports. In October 1984, 4,136,046.924 fine troy ounces of gold were reaudited at the United States Mint, Denver. Did The Dutch Central Bank Lie About Its Gold Bar List? However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. Based on glaring conflicts among the Treasury's own documents, this staggering amount of gold disappeared without a trace from 1961 to 1971. . No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. 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. The official story from OIG is that 100 % of the gold stored at Fort Knox was audited in between 1974 and 1986, . 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. In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. The assayer is unknown and there was no assay report included in the audit report. In 1936, Fort Knox military base was chosen as the site to build a bullion depository to store this gold. U.S. President Franklin D. Roosevelt passed legislation outlawing private ownership of gold, and gave instruction to build the depository at . RSS Feeds . He said it took 'quite a bit of time' to get in and out of the facility, and said officials had to cut a seal to open the vault for them. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . It was nothing more than a peek-a-boo glance at the gold in fine Hollywood style. $800 weekly hand count free roll. Only One President Has Ever Been Inside Fort Knox Why Is It - Ranker EMPTY! Is there any gold in Fort Knox? Government's denial of audit 'The gold is safe.'. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Gold at Fort Knox? Donald Trump Doesn't Think So | Kitco News 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. Metal Coins, back to 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). The last time Fort Knox had opened its vault to civilians was more than 40 years earlier. There was no assay report included in the audit report. One of the most sensitive secrets protected by the Washington establishment is the massive cache of gold reserves held at the federal depository in Fort Knox, Kentucky. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. Single mother faces 170 parking fine after overstaying at McDonald's for just 14 minutes while she treated Man had sex with his wife on bollard in protest after it had been erected by neighbour to stop him parking What will the next pandemic be? BREAKING: Fort Knox Audit Documentation Finally Released Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). . 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 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. PDF Fort Knox, Kentucky - United States Army 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. We are a community that loves Silver, Period. Learn how your comment data is processed. Government-owned Gold, or my office, and placed under official joint seals. Ive found many anomalies that well discuss. In 1974, after the US closed the gold window, congressional support grew for inquiring into the US gold stock. Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . Conspiracy Watch: All the Gold in Fort Knox - Mother Jones The last Congressional visit prior to this occurredin 1974. Part One, all golden coins that circulated in the US before 1933 could not have supplied the US official gold reserves to the extent Mr Moy has stated. The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." The Gold-Backed-Oil-Yuan Futures Contract Myth, Estimated Chinese Gold Reserves Surpass 20,000t. 35+ Mind Blowing Fort Knox Facts How Many Did You Know The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . 147.3 million ounces of gold is stored at Fort Knox. Coins, Precious The last time anyone had access to inspect the deposits was on September 23, 1974. . Fort Knox | fort, Kentucky, United States | Britannica walked past guards armed with submachine guns and through a 3-foot thick steel door into the . The last time any gold was removed from deep storage at Fort Knox came in 1971, when $500 million worth of gold was delivered to the New York Assay Office. 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. However, as Ive written in my post Where Did The Gold In Fort Knox Come From? CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. But Bevin, speaking on WHAS radio, divulged a few more details. The assay tests found no irregularities. 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. Ron Paul - Audit Fort Knox (the gold dipped tungsten bars) The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. 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. In 1983 the OIG found out something was amiss with the audits performed 1974 1982. 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 millions of ounces), SIGN UP FOR EMAIL UPDATES AND TEXT MESSAGE ALERTS ABOUT PRODUCTS. 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. Maybe a room or two full of gold but the rest is gone. It was also the first visit by a serving US Treasury Secretary since 1948. Quoting from the 1981 report: Gold at the Federal Reserve Bank of New York is audited periodically by examiners of the Board of Governors of the Federal Reserve System, Members of the Committee for Continuing Audits of United States Government-owned Gold representing the Mint and BGFO observed the audits at the invitation of the Board and the Federal Reserve Bank. Gold verification at Fort Knox March 1998, page 3. Fort Knox: "Glad Gold Is Safe!". Try Army A-Z . Instead, I was advised to contact the Treasury. Given all the protection, it seems obvious that billions of dollars worth of gold (or something) indeed resides at Fort Knox. Coins, American In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. The First Critical Observations. Answer (1 of 2): Who knows but it is rumored that the majority of the gold in Fort Knox no longer exists! ALL COIN PROGRAMS, National Purple Heart Hall of The BGFO and Mint staff was replaced by the OIG and the revised audit procedures were invented as a reason to open several compartments. 12/ As of September 30, 1984, 99.9 percent of the gold stored at the United States Denver Mint had been audited under the initial continuing audit program. In 1977 the New York assay office, which is a subsidiary of the US Mint, conducted the assays. As the last days tick away, let's take a moment to recap the top 12 stories at Fort Knox that shaped our 2021. Site, Coin On the way to the vault, a literal mine field and an electric fence protectthe gold. 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. Matt Bevin. The Fort Knox Gold was last audited in the 1950s. They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. In the excel sheet with the bar list of gold stored by the US Mint, published a few years ago, we can see nearly all the gold is low purity roughly 90 % pure very little was 9999 fine. It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. The fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic. As a result more than 1,700 tonnes at the Fort Knox and the Denver depository, that were both fully audited and sealed at that time, needed to be re-audited. Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. As a result more than 1,700 tonnes at the Fort Knox and the Denver depository, that were both fully audited and sealed at that time, needed to be re-audited. The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . Buy for Vault Storage in the United States It was obvious that some of the records were missing (or not provided). Upload by MysteryManagement Fort Knox and the gold dipped tungsten bars - Michael Rivero showAre the gold bars in Fort Knox really made of the precious metal. Answer (1 of 2): Internally, it is done annually. 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). 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. Secretary of the Treasury Steven Mnuchin visited Fort Knox on August 21. 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. Visitor Information :: U.S. Army Fort Knox: Gold Standard Army Installation I did read one time that the queen of England a. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 . 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. Contact Us. The Treasury document says it would cost about $15 million to conduct an audit. I'm a vet, and here are five dog breeds most prone to cancer - including Golden Retrievers and Rottweilers. Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. July 1986 12,477,777.638 [this number Icopied from the 1986 report]. Koos Jansen. Fort Knox sits on over 100,000 acres and houses 30,000 military personnel. 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. My FOIA request had disappeared, or did it? Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. In 1974, WCPO Anchor Al Schottelkotte got a rare look inside the gold vault at Fort Knox, Kentucky. Fort Knox opens famed vault to civilians after 40 years Others claim the goldis actually justtungsten bricks painted to look like the precious metal. Fort Knox Operation . 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). Fort Knox is in Romeo (R) time. Buy for Vault Storage in New Zealand Fort Knox is Probably Empty, Gold Missing - Stillness in the Storm The Facebook predator who lured schoolgirls to run away with him is one of 7,000 sex fiends who offended Do not sell or share my personal information. Fort Knox Security: The Most Heavily Guarded Place - Reader's Digest U.S. Mint Releases Fort Knox Audit - CoinWeek Because there remains so little information about the contents of the gold vault, a lot of theories crop upregarding what's really inside Fort Knox. Whos Supplying? 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. The Fort Knox facility was opened within the year, and took its first shipment of gold in 1937. Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. This would last until 2010 when the Armor School was relocated to Fort Benning, Georgia. Tuesday March 22, 2016 13:20. GOLD, RESERVES, REPORT(S), AUDIT, COMMITTEE FOR THE CONTINUING AUDIT, COMMITTEE, INSPECTOR GENERAL, ASSISTANT SECRETARY OF THE TREASURY FOR INTERNATIONAL AFFAIRS, BUREAU OF FISCAL SERVICE, and BUREAU OF GOVERNMENT FINANCIAL OPERATION.
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