& Facilities, Shop All 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! The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. On this sheet 5 physical gold audit reports are listed, framed in red. Coins, Precious 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. As the last days tick away, let's take a moment to recap the top 12 stories at Fort Knox that shaped our 2021. Bags, & Boxes, Code They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. Did The Dutch Central Bank Lie About Its Gold Bar List? Over 640,000,000 ounces of real money sat behind those massive locked doors. 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. Presidential Coins, Kennedy Half 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. You may consider submitting a FOIA request directly to the Treasury Department. The results of the assays by Ledoux & Company and White Sands Missile Range presented by the OIG at the congressional hearing show nearly all 9999 fine gold (see exhibit 3, or read page 62 to 124 from this document). 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. That shipment required a convoy of 33 15-ton trailers to move the gold. The Treasury document says it would cost about $15 million to conduct an audit. 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 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. No photographs were allowed, of course. ', 'I assume the gold is still there,' he said. Select stock location for your desired country in the dropdown to view our inventory available in that country. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . ', 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. Until 1953, there were serial number audits of the gold and some assaying as I explain but that became costly and time intensive. Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. 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. 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. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. However, if that intruder had turned to the west he would have . & Sales Figures. His advice to me was to try at the General Accounting Office (GAO) and National Archives for more reports. In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. Bureau of Government Financial Operations [BGFO]. The assay tests found no irregularities. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Ron Paul worries Fort Knox gold is gone. di Koos mainly provides unique insights about Chinese gold market. Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. " He told an audience in Louisville, "I assume the gold is still there.". Then, the official response from the offline department to my request I received on May 13 as a PDF attachment (click here to view) oddly enough itsdated March 25, 2015 but not sent to me at thetime. The last time anyone had access to inspect the deposits was on September 23, 1974. . Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . We asked the experts - and their answers will terrify you Public Service Announcement, do NOT watch these ads! US citizens were required to sell their gold bullion - bars and coins - back to the State. I will, however, submit a couple of new FOIAs at the US government regarding gold audits. Secretary of the Treasury Steven Mnuchin visited Fort Knox on August 21. For instance, sample sizes used for assaying were conspicuously small. During fiscal year 1986, gold was audited at the West Point Bullion Depository, and the San Francisco Old Mint under the initial continuing audit program. Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. As required under the Cyanide Code, the mine was again audited against ICMI's Verification Protocol by independent professional third-party auditors within three . I am glad to report that everything at the depository looked to be secure and in order. In 1953, the US Treasury Department audited Fort Knox, but only around5% of the goldunderwent testingfor purity. In 1974, after the US closed the gold window, congressional support grew for inquiring into the US gold stock. Revealed: The new '23' number plates the DVLA deems offensive and has banned including EU23 OFF and GO23 HEL, The secret WhatsApp mode that lets you EDIT texts after you've sent them. 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 . 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. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. GAO stands for General Accounting Office, OIG stands for Office of Inspector General. In October 1984, 4,136,046.924 fine ounces gold was reaudited. 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. and until 2010, every member of . Its glittering gold . Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. previous, back to 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. The First Critical Observations", February 2017. American $1 Coins, SHOP By Jennifer Liberto @ CNNMoney June 24, 2011: 11:58 AM ET. Next, we can see Thorsons list he presented of physical gold audit reports of the continuingaudit program from 1974 to 1986. Try Army A-Z. Fort Knox is supposedly filled with 400 oz. And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians. In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. But by 1986, you had 97 percent was audited. 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. Tuesday March 22, 2016 13:20. when was the last time fort knox was audited. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. Republican frontrunner Donald Trump hinted at the idea that there just might be no gold in the U.S. Need Help? Do you think it would be worthwhile, at least, to inventory and assay this portion of the Mint-held gold? By Everett Millman Gainesville Coins . Although the quality of the gold in the custody of the Federal Reserve Bank of New York cannot be readily assayed,. Monetary Gold Stock of the United States 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.). 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. No need to read about these fascinating facts and important events that have shaped the U.S. as we know it today. Instead, I was advised to contact the Treasury. In addition to the gold bricks, Bevin said he got to hold a 1933 double eagle, a $20 gold coin that was never circulated. The intention in 1975 was to audit the gold at the FRBNY, but then, a few years down the road the gold at the New York Fed was mysteriouslyexempt from the continuing audits program. While the order is not very detailed, in the years that followed the committee started auditing gold stored at the US Mint and at the Federal Reserve Bank of New York (FRBNY). The last full audit was done in 1953 . These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. The Congressional inspection adheres to the new open door policy of the government announced by President Ford. Share this page: Army.mil. To access the gold vault at Fort Knox, you'd need to make your way through a network of security measures. Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . Then, something very strange happened in 1983. I left school at 16 with six GCSEs - and became a self-made millionaire. There Is No Proof All Gold Is In Fort Knox. 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. Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. 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. Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! Matt Bevin. At its peak, 649.6 million ounces were stored at Fort Knox on December 31, 1941. Dollars, Native 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. Secretary Mnuchin's statements were not helpful. 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. July 21, 2017 7:24AM. It was decided to destroy several audit and assay reports and no less than 1,700 tonnes needed to be re-audited. 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. At Fort Knox, we are about people - great service members, outstanding civilians . But theories exist regarding other possiblecontents of the vault -like the body of Jimmy Hoffa. While the gold at Fort Knox was partially audited in the past, the gold at the Federal Reserve Bank of New York was never looked at. Buy, ship and store bullion with BullionStar in/from different countries. And there is more, a lot more. For the first time photographing is being permitted inside the Depository.. Did audit reveal missing gold . However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. Gold verification at Fort Knox March 1998, page 1. However, there has been considerable doubt over the years as to whether the depository actually held any gold. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. Us, ALL Alaska, USA . As a result, the gold at the Bank [FRBNY] is considered unaudited. 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 Fort Knox Gold was last audited in the 1950s. 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. The usage of cookies and the collection of customer information by BullionStar is guided by our. If we carefully read the scarce audit reports available to us, wenotice the audit procedures were revised in 1983. 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. Your request was received in this office on March 3, 2015 and assigned FOIA case number RD 45578. The One "Audit" Of Fort Knox. Shortly after I got an email that statedmy request had been received and was being processed. 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. At the hearing Thorson presented exhibits to support his case 100 % of the gold held at the US Mint has been audited. . Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it's "a possibility" that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank. The speculation has also been amplified by the degree of secrecy surrounding the reserves: Since the depository opened seven decades ago, the only time any member of the public has been permitted inside the facility was when members of the media were (however briefly) invited in on September 23, 1974. More than half of the total reserves4,582.95 tonnes, or 147,341,870.463 fine troy ounces of goldare kept at Fort Knox, while more than 1,000 tonnes are stored at West Point and Denver each. Official joint seal number 932 put in place on September 2, 1982, under the continuing audits of U.S.-owned goldstored at the Mint. 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. Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. Fort . Several more examples of these blurry situations are shown in the released documents. He tweeted " Glad gold is safe! The last time that Congress audited it was 2019. Fort Knox was thrown open on that Monday afternoon for about 2 hours to some 150 reporters and glad-handing politicians, crowding narrow passageways and elbowing each other for a . previous, Kids 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. I shall rest here. Government-owned Gold, or my office, and placed under official joint seals. fort knox crisis phone numbers. 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 the bullion, 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. Sets, Commemorative Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. The assayer is unknown and there was no assay report included in the audit report. On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. 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. 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. Treasury Secretary William E. Simon issued the invitation to Congressmen to inspect the gold at Fort Knox.
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