Mistakes That Created America As You Know It, What It Was Like to Enter Through Ellis Island, Uncivilized Moments on the Congress Floor, Heinous Policies Toward Children and Families, Times Another US Civil Conflict Almost Began, Proposed States and Territories That Almost Were, A History of Foreign Meddling in US Elections, 1812: The Biggest Mess in the Country's History, Fort Knox Is So Mysterious And Heavily Guarded, Only One US President Has Ever Been Inside, video cameras, motion detectors, and secret microphones. there has not been anyone allowed access to confirm the gold amounts that are supposedly stored at the Fort. The usage of cookies and the collection of customer information by BullionStar is guided by our. Approximately half the U.S. Treasury's gold is located in the storage facility at Fort Knox The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . By Jennifer Liberto @ CNNMoney June 24, 2011: 11:58 AM ET. But theories exist regarding other possiblecontents of the vault -like the body of Jimmy Hoffa. "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". In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. Much of this newfound gold came into government coffers as a result of President Franklin Roosevelts executive order confiscating privately held gold in 1933. Us, ALL "good delivery" bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong. After writing it Ive been trying to collect all audit reports dating from1974 1986. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. Kids, Gifts for Tiger Woods unleashes his lawyers on porn site after it Bannon is 'going to war' against Jared, 'crying Ivanka' and A whole hue world! Coin bars are assaying 899 to 901 per mille or 915 1/2 to 917 per mille,roughly 90 % pure, and these types of bars allegedly form the bulk of the US official gold reserves. Scales at the Mint used to weigh the bars often didnt work properly. I'm not a professional auditor (if you are one please contact me), but common sense suggests that when irregularities are found the sample size . However, how trustworthy is this system of accounting? Bags, & Boxes, Code ALL COIN PROGRAMS, National Purple Heart Hall of The Mint estimated that as much as one-third of the gold reserves were examined during this period. China Gold Import Jan-Sep 797t. 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. Fort Knox is used to store a large portion of United States official gold reserves and occasionally other precious . Not that it would be easy to even make it this far, but the door to the vault is made of steel and . Dollars, Native Maybe a room or two full of gold but the rest is gone. 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. There Is No Proof All Gold Is In Fort Knox. The controversial 'trauma expert' interviewing Prince Harry: Gabor Mat was warned by the Canadian A big Beckham birthday! How can the IG be positive if he did not have access to the most basic documentation? What his dogged FOIA requests have failed to reveal, unfortunately, is anything that would put the questions about the Fort Knox gold to rest. It was established in 1918 as Camp Knox (named for Major General Henry Knox, first U.S. secretary of war), and it became a permanent military post in 1932. A second storage facility was built at the same time: . The reports from 1974 and 1977 weve extensively analyzed in my previous post Second Thoughts On US Official Gold Reserves Audits, published on February 9, 2015. Mint Medals, Shop All Paper Jun 5th, 2022 . 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. Domestic and International Shipping from Singapore The annual audits by the committee ended in 1986 after 97 per cent of the Government owned gold held by the Mint had been audited and placed under official joint seal. According to the excel sheet the US Mint stores 312 tonnes in 9999 fine gold, spread over 3 depositories; Fort Knox 15 tonnes, Denver 100 tonnes, West Point 197 tonnes. At the congressional hearing of the Gold Transparency Act (H.R. Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. 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. Secretary of the Treasury Steven Mnuchin visited Fort Knox on August 21. 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. The novel begins: 7:20 am, September 11, 2015. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. Your browser is out of date. The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product. More false statements by the auditor have appeared, further eroding its credibility. 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. These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. Why havent we ever seen any assays of coin bars? Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . Experts weigh in as tremors hit Wales, Cornwall and the Are YOU eating the right colours? McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him. 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. Whos Supplying? For the other years we dont know whatoffice performed the checks. At its peak, 649.6 million ounces were stored at Fort Knox on December 31, 1941. The assayer is unknown and there was no assay report included in the audit report. 35 % first buy in bonus! We asked the experts - and their answers will terrify you Public Service Announcement, do NOT watch these ads! The audits were conducted in accordance with the revised audit guidelines that required a statistical sample of gold melts within randomly selected compartments at the facilities. The U.S. gold reserves at Fort Knox are broken into different numbered compartments within the gold vault. Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. Ron Paul introduced a bill that would require the Fed to manually audit every U.S.-owned gold . The gold at Fort Knox is stored in one of the most secure facilities in the world. 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. On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. Equal Employment Opportunity. 211 votes, 25 comments. The assay tests found no irregularities. Gold verification at Fort Knox March 1998, page 3. On this sheet 5 physical gold audit reports are listed, framed in red. This fits right into how the US government imposes audits on their official gold reserves; the audits are performed by the US government itself. Technically its possible the OIG assayed exactly the remaining stash of 9999 gold, though chances are slim given the fact the 9999 gold wasspread over multiple compartments at multiple depositories. Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. "good delivery" gold bars. Donald Trump Doesn't Think So. Share this page: Army.mil. " He told an audience in Louisville, "I assume the gold is still there.". However, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. 312 tonnes of the total is 4 %. Text Alerts, Contact U.S. President Franklin D. Roosevelt passed legislation outlawing private ownership of gold, and gave instruction to build the depository at . More anomalies with regard to the audits of the US official gold reserves will be discussed in forthcoming posts. 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. Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. You can change the usage of cookies in your browser. Submitted to: . The answer is, he cant. 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. 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. When will the Beast from the East be at YOUR door? 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. Circulating There has not been any movement of inventoried gold since that time. US Mint Releases New Fort Knox Audit Documentation. The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. Koos Jansen is a precious metal analyst from the Netherlands. The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion. It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). 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). Meanwhile I was fortunate to find the 1981 audit report at the website The Golden Sextant fromReg Howe. Instead, I was advised to contact the Treasury. 147.3 million ounces of gold is stored at Fort Knox. After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. For your information, we contacted a librarian at the Treasury Department who informed us that reports from Committee for Continuing Audit of the U.S. 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. 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? 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. Few people have ever entered the vault,and while147.3 million ounces of goldallegedly exists inside, the accuracy remains in doubt. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 . Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. After the gold was audited by the Continuing Audit committee all compartments were placed under Official Joint Seal. One of the mostsecure andinaccessible places in the world, the facility once held the Declaration of Independence and Bill of Rights. Sets, Commemorative BY . Fort Knox Internal Review and Audit Compliance. *For the audits performed in 1975, 1976, 1978, 1979, 1982, 1983 and 1984 under the continuing audits program allegedly 1 in 50 melts has been assayed, although there are no audit reports, nor assay reports, nor do we know who the assayer was. The assayer is unknown and no assay reports have been included in the audit reports. The audit announced, however, would include just 20% of the gold. . The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. 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. 3. Presidential Coins, Kennedy Half Government-owned gold for which Treasury is accountable. Let me show you an example of Fort Knox. Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! According to some sources, this is where most of the other Treasury's gold is located. I left school at 16 with six GCSEs - and became a self-made millionaire. GAO stands for General Accounting Office, OIG stands for Office of Inspector General. After the Congressional inspection, the Bullion Depository will once again be closed to visitors. 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. 213K subscribers in the Wallstreetsilver community. "Glad the gold is safe!". Try Army A-Z. Exhibit 2. Gold verification at Fort Knox March 1998, page 1. 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. The Congressional inspection adheres to the new open door policy of the government announced by President Ford. Fort Knox gold subject of hearing. In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. *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. PBOC Gold Purchases: Separating Facts from Speculation. 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. Several more examples of these blurry situations are shown in the released documents. Fort Knox sits on over 100,000 acres and houses 30,000 military personnel. He said this, but there is no proof. Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. 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. In 2011 it was portrayed as if KPMG currently is the third party auditor (next to the owner and custodian), but this is not true. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. It was also the first visit by a serving US Treasury Secretary since 1948. 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. Coins, American 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. 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 fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic. In October 1984, 4,136,046.924 fine ounces gold was reaudited. Answer (1 of 2): Who knows but it is rumored that the majority of the gold in Fort Knox no longer exists! 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. 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. Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. American $1 Coins, SHOP 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. Site, Coin 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. Questions: July 1986 12,477,777.638 [this number Icopied from the 1986 report]. The initial intention is clear to us, the FRBNY was supposed to be audited; the gold to be counted, weighed, assayed and the compartments to be sealed (these were the audit procedures of the continuing audits committee). Exhibit 1. Koos mainly provides unique insights about Chinese gold market. 45 New Bridge Road, Singapore 059398 Singapore 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.