From 1993 to 2008 the remaining 3 % of the gold reserves stored at the US Mint hasbeen audited I assume. "good delivery" bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong. How can the IG be positive if he did not have access to the most basic documentation? 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. Located in Kentucky, Fort Knox is a United States Army base whichhouses most of the US's gold reserves. Kinross Gold Corporation's Fort Knox Mine Achieves Fifth Certification when was the last time fort knox was audited The first screen shots below are from a gold verification at Fort Knox in March 1998. Presidential Coins, Kennedy Half Bear in mind that another FOIA request for internal email correspondence relating to the initial inquiries revealed that the official who provided this exaggerated estimate of how difficult the task of producing the documents would be was an auditor himself and among the authors of the documents that Jansen sought in the first place! Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. 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. The audit, which includes facilities, roads, parking lots, fences and utilities that are each valued at $250,000 or more, involved 1,053 sites and encompassed researching, identifying, reviewing . Coincidentally almost all the gold assayed by the OIG from 2004 2008 was 9999 fine. US Mint Provided Fort Knox Gold Audit Documents!! Mnuchin's Visit to Fort Knox l JM Bullion The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . I personally believe that rumor and the bulk of it has been sold off to the rich elites. Bags, & Boxes, Code Shipping within the United States In October 1984, 4,136,046.924 fine ounces gold was reaudited. Mnuchin's PR Visit to Fort Knox proves nothing about the - GoldSeek Thats 6 down, 7 more to go. . "Glad the gold is safe!". China Gold Import Jan-Sep 797t. Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. Engraved Prints, Shop All Gift 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. Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. . I did read one time that the queen of England a. 1126, San Diego, CA, 92128, USA . 97 percent of the gold was checked and sealed in an audit that ended in 1986, and annual partial audits by a third-party accounting firm continued after that, he said. 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 last time that Congress audited it was 2019. According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. In August 2017, US Treasury Secretary Steve Mnuchinvisited the gold vault at Fort Knox and, along with a few other politicians, surveyed the site. Gold verification at Fort Knox March 1998, page 1. Part One, We use cookies to enhance the user experience and to analyse traffic. 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. 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 Treasury document says it would cost about $15 million to conduct an audit. Based on glaring conflicts among the Treasury's own documents, this staggering amount of gold disappeared without a trace from 1961 to 1971. . 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. Fort Knox: "Glad Gold Is Safe!". 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. Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. US citizens were required to sell their gold bullion - bars and coins - back to the State. No need to read about these fascinating facts and important events that have shaped the U.S. as we know it today. Great! CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. 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. Coins, Tours & Is There Gold in Fort Knox? - CBS News Same story at the US Mint and US National Archives. Coins, American U.S. Government Gold Reserve Auditor Deceptions On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued. The event, Sept. 23, 1974, is often inaccurately called the last audit of Fort Knox. The New Year kicked off . It was obvious that some of the records were missing (or not provided). On the way to the vault, a literal mine field and an electric fence protectthe gold. 312 tonnes of the total is 4 %. Metal Coins, back to No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. Over 640,000,000 ounces of real money sat behind those massive locked doors. It is surrounded by an active U.S. Army fort, guarded by the U.S. Mint Police and protected by layers of security measures, including a blast proof 22-ton door, 16,000 cubic feet of granite, 4,200 cubic yards of concrete, 750 tons of reinforcing steel and 670 . 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. Ron Paul - Audit Fort Knox (the gold dipped tungsten bars) 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. 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 largely due to a well-circulated rumor during the 1970s that the vaults had been emptied by elites in banking in government, either leased out or confiscated. To access the gold vault at Fort Knox, you'd need to make your way through a network of security measures. Audit report Fort Knox 1981. In 1974, after the US closed the gold window, congressional support grew for inquiring into the US gold stock. Fort Knox Scandal - Chapter 20 - Bill Still's Monetary Reforum 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 last full audit was done in 1953 . Let me show you an example of Fort Knox. di However, as Ive written in my post Where Did The Gold In Fort Knox Come From? As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. July 21, 2017 7:24AM. We asked the experts - and their answers will terrify you Public Service Announcement, do NOT watch these ads! However, until the missing audit reports show up we can only look at this case as its presented by the US government through the documents that are publicly available. Donald Trump Doesn't Think So. Exhibit 1. 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. Site, Coin Government-owned Goldare not in our collection." From the 1985 report: 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. Buy, ship and store bullion with BullionStar in/from different countries. 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? 211 votes, 25 comments. Find out what Uber drivers really think of you! Welcome to the Coronation! Fort Knox Gold - History of Fort Knox | BullionByPost Facilities, Production The gold is held as an asset at a value of $42.22 per ounce. The assayer is unknown and there was no assay report included in the audit report. Fort Knox Gold - History of Fort Knox | BullionByPost Gold Reserve Transparency Act would count all the gold held by - Medium In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. Fort Knox Internal Review and Audit Compliance. In an audit conducted at Fort Knox in 1953, 88 ingots were counted for verification. There has not been any movement of inventoried gold since that time. The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . The Armored Force School and the Armored Force Replacement Center began operations at Fort Knox in October 1940. Ron Paul questions whether there's gold at Fort Knox, NY Fed 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. The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. 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. Bureau of Government Financial Operations [BGFO]. Exhibit 7.2. 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. The usage of cookies and the collection of customer information by BullionStar is guided by our. for Dads, American Women's History Coins & I decided to send an email to the FOIA online Help Desk to ask what happened to my request. Is There Really Any Fort Knox Gold - Historic Mysteries What his dogged FOIA requests have failed to reveal, unfortunately, is anything that would put the questions about the Fort Knox gold to rest. 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. 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. & Sales Figures. On top of this, a decades worth (1993-2003) of Joint Seal inspections from the Denver and West Point depositories are not accounted for. Circulating Are you already an expert in everything America? noting that it was "over 20 years" since the last one. Lets recap what weve studied in the previous posts. A congressional delegation and some journalists got a look at the gold in 1974. Kooss analysis of the procedures used found its rigor wanting in several key areas. 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. 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. However, there has been considerable doubt over the years as to whether the depository actually held any gold. Fort Knox is in Romeo (R) time. Representative Alex Mooney (R . The last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. However, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. Whos Supplying? In 1936, Fort Knox military base was chosen as the site to build a bullion depository to store this gold. At Fort Knox, we are about people - great service members, outstanding civilians . This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. More than half of . Moving on to the assay tests conducted at the US Mint. In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). 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). 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. Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. 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. 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. Fort Knox: "Glad Gold Is Safe!" - Miles Franklin Sevenreports are missing. Between July 1983 and July 1985 the gold was audited in accordance with the plan approved by the Treasurer, as follows. 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? Currency, Shop All The Gold-Backed-Oil-Yuan Futures Contract Myth, Estimated Chinese Gold Reserves Surpass 20,000t. About 000% of them were weighed. Is the Coin Market Sleeping on Fairmont Collection Gold Coins? U.S. Mint Releases Fort Knox Audit - CoinWeek Given the date range of your request 1975-1984, the nature of the report an annual audit of gold, and the fact that reports of similar type have been periodically published on the Internet, it is likely that copies and drafts of these reports are in the legal and physical custody of the Department of the Treasury. U.S. Government Lost 7 Fort Knox Gold Audit Reports Former US Mint Director Clueless On Gold In Fort Knox - GoldSeek Why might the government entrust such inexperienced employees with this important task? Ron Paul wants gold at Fort Knox audited - Jun. 24, 2011 - CNNMoney We are no longer accepting comments on this article. 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 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 US government wished to open the vaults of audited gold to lease or sell the metal on the open market. What's really inside Fort Knox? The golden secrets of the US Bullion 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. 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. The Congressional inspection adheres to the new open door policy of the government announced by President Ford. Medals, Treasury and This effort to audit the Fort Knox gold, the Federal Reserve, and its policies toward gold is now carried on by the younger Paul, Rand, who currently serves as a U.S. Ron Paul worries Fort Knox gold is gone. 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. Ledoux & Company found no irregularities in 2004. Alaska, USA . Official records claimed 20,000 tons in the 1950s. 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. At the congressional hearing of the Gold Transparency Act (H.R. Meanwhile I was fortunate to find the 1981 audit report at the website The Golden Sextant fromReg Howe. Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. The First Critical Observations", February 2017. However, how trustworthy is this system of accounting? Join FORT KNOX code Axykp! Next, we can see Thorsons list he presented of physical gold audit reports of the continuingaudit program from 1974 to 1986. In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. Of course,strange things have been stored in the vault, like morphine and opiumduring the early '90s. Given all the protection, it seems obvious that billions of dollars worth of gold (or something) indeed resides at Fort Knox. Gold all there when Ft. Knox opened doors - Numismatic News For the first time photographing is being permitted inside the Depository.. This post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits. After 40 years, Fort Knox opens famed vault to civilians 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. ', 'I assume the gold is still there,' he said. The last Congressional visit prior to this occurredin 1974. The assay tests found no irregularities. The OIG audited 3 % from 1993 2008. Answer (1 of 2): Internally, it is done annually. For the other years we dont know whatoffice performed the checks. 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. Buffalo Coins, American Eagle We will discuss the remaining 4 audit reports at once, as they are very similar. Click on the links for more information:Buy for Vault Storage in Singapore Part of the Daily Mail, The Mail on Sunday & Metro Media Group. Fort Knox - RationalWiki Pursuant to that order, the Committee for Continuing Audit of the U.S. Newborns, Gifts The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. Fort Knox Gold: Myth or Reality? - jackhunt.com 26 Feb 2017 13:18. By Everett Millman Gainesville Coins . The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. Lets have a look. 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. Fort Knox Operation . 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. Domestic and International Shipping from Singapore In 1974, WCPO Anchor Al Schottelkotte got a rare look inside the gold vault at Fort Knox, Kentucky. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 . So, what's really inside Fort Knox? 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. Not that it would be easy to even make it this far, but the door to the vault is made of steel and . He tweeted " Glad gold is safe! You can change the usage of cookies in your browser. 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. As required under the Cyanide Code, the mine was again audited against ICMI's Verification Protocol by independent professional third-party auditors within three . 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. As weve seen thus far there are many problems with the official story everything is fine, all the US official gold reserves all audited. Koos mainly provides unique insights about Chinese gold market. "The last time anybody went in to see the gold, other than the Fort Knox people, was in 1974 when there was a congressional visit. Telephone: (502) 624-2386. Between 1933 and 1937, this increased . While investigating facts about Fort Knox Federal Credit Union and Fort Knox Safes, I found out little known, but curios details like: The Federation of Quebec Maple Syrup Producers has a "Fort Knox" vault of Maple Syrup. One of last year's uproars was the decision by US officials to carry out an audit of these gold vaults. 'So many dead. Fort Knox DPW team completes large audit ahead of deadline in support My FOIA request had disappeared, or did it? Liberty, Bush The missing audit reports and assay reports feed into our skepticism. . 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). A waiting list may be . Ideas, Gifts for Koos Jansen is a precious metal analyst from the Netherlands.