The last time that Congress audited it was 2019. Koos is in the company of monetary scholar Jim Rickards and former U.S. Representative Ron Paul in publicly campaigning for more transparency in the financial system and the gold market. Buy for Vault Storage in New Zealand 2021 what a year, Fort Knox! | Article | The United States Army "good delivery" bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong. 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. There was nothing left to do but submit a Freedom Of Information Act (FOIA) request. The comments below have not been moderated. PDF AUDIT REPORT - BullionStar Why havent we ever seen any assays of coin bars? Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. RSS Feeds . Few people have ever entered the vault,and while147.3 million ounces of goldallegedly exists inside, the accuracy remains in doubt. Furthermore, these audits found no exceptions of any consequence. Vault: Rare look inside gold vault at Fort Knox - WCPO Ron Paul worries Fort Knox gold is gone. Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. However, in some instances, the rationale for moving gold from one compartment to another proved elusive. Also, the assay test results from last year's gold audits at Fort Knox and West Point were More false statements by the auditor have appeared, further eroding its credibility. Mint Medals, Shop All Paper The last time Fort Knox had opened its vault to civilians was more than 40 years earlier. Shipping within the United States Then let's raise a glass to a slower, quieter 2022 . Each and every bar there should be assayed in a full, independent audit. 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. The auditors were bored and decided to re-audit 1,700 tonnes. 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. Gold Reserve Transparency Act would count all the gold held by - Medium In short, the US National Archives could not extradite the 7 audit reports I requested. Is There Gold in Fort Knox? - CBS News As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. Share this page: Army.mil. Is Gold in Fort Knox Real? Ron Paul Wants to Know - CNBC No need to read about these fascinating facts and important events that have shaped the U.S. as we know it today. Thats 6 down, 7 more to go. In 2011, the U.S. Treasury's full detailed schedules of gold bars were published by the US House Committee on Financial Services as part of submissions for its hearing titled "Investigating the Gol. 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. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. Last time Fort Knox was audited was in 1953 and even then only - reddit In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. Conspiracy Watch: All the Gold in Fort Knox - Mother Jones 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. 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. Fort Knox | Military Base Guide No outside experts were allowed on the site for the audit, either,providingfodder for all kinds of conspiracy theorists. 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. The assayer is unknown and there was no assay report included in the audit report. Domestic and International Shipping from Singapore From 1993 to 2008 the remaining 3 % of the gold reserves stored at the US Mint hasbeen audited I assume. For instance, sample sizes used for assaying were conspicuously small. 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. And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians. 4. Sets, Commemorative Coins, Precious There Is Gold in Fort Knox | Newsmax.com 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. This post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits. Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. 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. And there is more, a lot more. *For all other publicly available audit reports (1980, 1981, 1985, 1986) its very briefly mentioned assay tests were conducted, presumably for one in every fiftieth melt. The official story from OIG is that 100% of the gold stored at Fort Knox was audited in between 1974 and 1986, although there is no US government department that has the audit reports. The Treasury document says it would cost about $15 million to conduct an audit. 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. 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. 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. According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! As a result, the gold at the Bank [FRBNY] is considered unaudited. Donate here, Idaho House Votes to Authorize State Gold & Silver Holdings, 34 Wyoming House Members Thumb Their Noses at Sound Money, Catch-22: Rate Hikes May Fuel Even MORE Inflationary Deficit Spending, Vermont Seeks to Become 44th State to Roll Back Sales Tax on Sound Money, Mississippi Legislature Votes Overwhelmingly to End Sales Taxes on Gold and Silver, VIDEO: President of Money Metals Exchange Joins Gold Standard Podcast to Discuss Sound Money Legislation, Iowa Seeks to End Capital Gains Taxes on Gold and Silver, Mississippi Bill Would End All Taxes on, Invest State Funds in, Gold & Silver, Kentucky Lawmakers Aim to End Sales Taxes on Sound Money, Missouri Senate Votes to End Income Taxes on Gold and Silver, Hold Monetary Metals in Reserve, Legislators Seek Repeal of Wisconsins Controversial Sales Tax on Gold and Silver. The assay tests found no irregularities. Medals, Treasury and The only audit that has ever been done of the gold inside Ft Knox was done days after Dwight Eisenhower became President in January of 1953. & Facilities, Shop All In one case, the auditors were allegedly unaware that the scale was showing standard ounces rather than troy ounces, which all precious metals are weighed in, throwing an entire days worth of measurements out of whack (that a scale used for precious metals would ever be set to anything besides troy ounces is questionable). Let me show you an example of Fort Knox. Ive found many anomalies that well discuss. The First Critical Observations. By Patrick A. Heller. The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. Fort Knox is used to store a large portion of United States official gold reserves and occasionally other precious . What the Hell is This?: Mnuchin Tweets on Fort Knox Gold Not only were Kooss requests met with a reluctant response from government officials, but the mint claimed it would have to spend countless labor hours searching through dozens of boxes for hundreds of pages that might be what Koos was looking for: the annual gold audit records that were carried out between 1993 and 2008. Should America's Gold Reserves Be Audited? - Sound Money Defense GAO stands for General Accounting Office, OIG stands for Office of Inspector General. During this operations, the melt numbers and the number of bars in each melt are verified with an inventory listing, and one in fifty melts is randomly selected for weighing and test assay. The Fort Knox Mine was initially certified in full compliance with the Cyanide Code in February 2008 and was recertified in September 2011, in February 2015, and in August 2018. 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. Much of this newfound gold came into government coffers as a result of President Franklin Roosevelts executive order confiscating privately held gold in 1933. The last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. 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. China Net Imported 1,300t Of Gold In 2016, Why SGE Withdrawals Equal Chinese Gold Demand And Why Not, Trade in and out of physical gold and silver, BullionStar Perspectives - Rick Rule - Wisdom and Insights from Legendary Mining Investor, Buy for Vault Storage in the United States, Domestic and International Shipping from Singapore, and 1980 summary, released by the GAO 10/1981, the vault had to be opened twice more in the presence of the Joint Sealing Committee and the gold reevaluated, assaying 899 to 901 per mille or 915 1/2 to 917 per mille, Where Did The Gold In Fort Knox Come From? 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? Prince Andrew chuckles as he encounters female jogger on way to his weekly Windsor horse-riding trip. The next screen shot is from the reply by the FOIA help desk on May 6, 2015. Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. 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. PBOC Gold Purchases: Separating Facts from Speculation. Koos mainly provides unique insights about Chinese gold market. The vault can withstand guns, blowtorches, and other incendiary devices. Did The Dutch Central Bank Lie About Its Gold Bar List? in 2004 the assayer was Ledoux & Company, a private contractor (read their homepage). when was the last time fort knox was audited - hugs.finance PDF ICMI Gold Mining Audit Report - International Cyanide Management Code Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. As will conclusions and speculation. 45 New Bridge Road, Singapore 059398 Singapore ', 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. Gold all there when Ft. Knox opened doors - Numismatic News The Congressional inspection adheres to the new open door policy of the government announced by President Ford. From at least 1944 the world reserve currency is the US dollar, which was backed by gold until 1971 and supported by gold ever since. 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. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. Ledoux & Company found no irregularities in 2004. In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). It was decided to destroy several audit and assay reports and no less than 1,700 tonnes needed to be re-audited. One particular compartment with 19,800 gold bars was recorded as being moved in the 1996 audit, yet was checked again in 1998 (with the same 19,800 gold bars) with no reference to the fact that this is almost certainly the same sample of gold inspected two years prior. I decided to send an email to the FOIA online Help Desk to ask what happened to my request. Coincidentally almost all the gold assayed by the OIG from 2004 2008 was 9999 fine. However, no outside experts were allowed in during the audit, and only about 5% of the gold was actually tested. Of course,strange things have been stored in the vault, like morphine and opiumduring the early '90s. Rep. Paul Calls for Gold Audit, Questions Whether Fort Knox Is Empty 'The gold is safe.'. Mnuchin's PR Visit to Fort Knox proves nothing about the - GoldSeek 312 tonnes of the total is 4 %. Find out what Uber drivers really think of you! 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 Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . Liberty, Bush Other problems sound laughable in their incompetence. Fort Knox facts. The other two-thirds, however, have not been inventoriedthat is according to my understandingor assayed since somewhere between 1975 and 1986. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. Coin Cleverly located at the intersection of Gold Vault Road and Bullion Boulevard, the bullion depository at Fort Knox was constructed and housing the growing government stock of gold by 1937. 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. We are no longer accepting comments on this article. The Eisenhower Administration Conducted The Last Audit Of Fort Knox. Need Help? At this stage I havent been able to get my hands on any assay report from 1974 1986. Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. US Official Gold Reserves Auditor Caught Lying - Substack 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.