Ive found many anomalies that well discuss. Only one president has ever been inside -and the US Mint remains largely mum on the contents of the vault -making Fort Knox a hotbed for conspiracy theories. 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. Fort Knox opens famed vault to civilians after 40 years PBOC Gold Purchases: Separating Facts from Speculation. But by 1986, you had 97 percent was audited. 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. For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. All the golden coins that were handed in supposedly accumulated to the greatest gold pile on earth. Next, we can see Thorsons list he presented of physical gold audit reports of the continuingaudit program from 1974 to 1986. The BGFO and Mint staff was replaced by the OIG and the revised audit procedures were invented as a reason to open several compartments. However, there has been considerable doubt over the years as to whether the depository actually held any gold. There was nothing left to do but submit a Freedom Of Information Act (FOIA) request. The First Critical Observations", February 2017. Former US Mint Director Clueless On Gold In Fort Knox - GoldSeek Other problems sound laughable in their incompetence. The public may never know. And the problem goes far beyond missing audit reports. According to some sources, this is where most of the other Treasury's gold is located. 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. Built in 1936, security access for the facility make it difficult to get access. Gold Reserve Transparency Act would count all the gold held by - Medium In 1983 the OIG found out something was amiss with the audits performed 1974 1982. 147.3 million ounces of gold is stored at Fort Knox. In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. 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). The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. $800 weekly hand count free roll. Fort Knox is Probably Empty, Gold Missing - Stillness in the Storm 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. Miles Franklin sponsored this article by Gary Christenson.The opinions are his, and they are not investment advice. When the mint finally produced the audit documentation, Jansen received 134 lightly redacted pages (rather than the estimated total of 1,200 pages). The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. 35+ Mind Blowing Fort Knox Facts How Many Did You Know Has the Federal Reserve Sold the Gold at Fort Knox? Exhibit 7.2. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. Inspection of Gold at Fort Knox | U.S. Mint - United States Mint 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 thebullion. 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. 4,243 bars were relocated from vault Jcompartment 19, to vault J compartment 2, at the Denver depository. 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. Currently the Office Inspector General of the Treasury is responsible for the audits of the gold reserves at the US Mint. noting that it was "over 20 years" since the last one. July 1986 12,477,777.638 [this number Icopied from the 1986 report]. 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. Fort Knox and The Missing Gold! - Strange Unexplained Mysteries 312 tonnes of the total is 4 %. 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. Contact Us. What's really inside Fort Knox? The golden secrets of the US Bullion Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. We asked the experts - and their answers will terrify you Public Service Announcement, do NOT watch these ads! Liberty, Bush The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. In 1936, Fort Knox military base was chosen as the site to build a bullion depository to store this gold. Fort Knox | Military Base Guide At this stage I havent been able to get my hands on any assay report from 1974 1986. The OIG audited 3 % from 1993 2008. 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. Senator from Kentucky, where Fort Knox is located. *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. 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. Your request was received in this office on March 3, 2015 and assigned FOIA case number RD 45578. The assayer is unknown and there was no assay report included in the audit report. 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). After 40 years, Fort Knox opens famed vault to civilians Government-owned gold for which Treasury is accountable. Government-owned Goldare not in our collection." 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. They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. One of last year's uproars was the decision by US officials to carry out an audit of these gold vaults. . We will discuss the remaining 4 audit reports at once, as they are very similar. Alaska, USA . Why might the government entrust such inexperienced employees with this important task? Government-owned Gold, or my office, and placed under official joint seals. 'The gold is safe.'. Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . The last time that Congress audited it was 2019. The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. Lets recap what weve studied in the previous posts. I will, however, submit a couple of new FOIAs at the US government regarding gold audits. Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. There can be no world reserve currency without appropriate gold reserves supporting it, providing essential confidence and credibility. previous, Kids 'So many dead. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. All your favorite.50 games all in one club! Join FORT KNOX code Axykp The last time anyone had access to inspect the deposits was on September 23, 1974. . 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. Site, Coin More than half of . Presidential Coins, Kennedy Half 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. This document also contains a summary of the 1980 audit which, by the way, isnt less detailed than the full 1981 report. Koos mainly provides unique insights about Chinese gold market. The gold is held as an asset at a value of $42.22 per ounce. Next was the GAO; unfortunately they couldnt deliver anything I was looking for. 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. Fort Knox is used to store a large portion of United States official gold reserves and occasionally other precious . Thank you for signing up with United States Mint! Coin Buy for Vault Storage in New Zealand Page Last Modified: 8/26/19, 2:56 PM Fort Knox, KY. Our Nation's Gold Standard Army Home. The last full audit was done in 1953 . 2021 what a year, Fort Knox! | Article | The United States Army Royal Mint Launches First Coin in Myths and Legends Collection, Numismatic Crime Counterfeit Notes Sold Over Facebook, 1776 Continental Dollar Offered by David Lawrence Rare Coins, Grade This 1936-S Cincinnati Commemorative Silver Half Dollar, First King Charles III Coin From Pobjoy Celebrating the Accession, Dakota 1875 $5 Bank Note in Stacks Bowers Spring Auction. Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. Learn how your comment data is processed. Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. The First Critical Observations. walked past guards armed with submachine guns and through a 3-foot thick steel door into the . Until 1953, there were serial number audits of the gold and some assaying as I explain but that became costly and time intensive. Matt Bevin. The novel begins: 7:20 am, September 11, 2015. They could only find 2 reports I didnt posses previously, of the audits conducted in 1985 and 1986. After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. US Mint Releases New Fort Knox "Audit Documentation". The First 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. Official joint seal number 932 put in place on September 2, 1982, under the continuing audits of U.S.-owned goldstored at the Mint. 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. 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. 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. Few people have ever entered the vault,and while147.3 million ounces of goldallegedly exists inside, the accuracy remains in doubt. It was decided to destroy several audit and assay reports and no less than 1,700 tonnes needed to be re-audited. and until 2010, every member of . Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . Is There Really Any Fort Knox Gold - Historic Mysteries 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. On this sheet 5 physical gold audit reports are listed, framed in red. Fort Knox: "Glad Gold Is Safe!". Scales at the Mint used to weigh the bars often didnt work properly. In October 1984, 4,136,046.924 fine ounces gold was reaudited. The usage of cookies and the collection of customer information by BullionStar is guided by our. 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). A separate post will be dedicated to KPMG. 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. "good delivery" bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong. 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 . After the Congressional inspection, the Bullion Depository will once again be closed to visitors. In my previous post, from March 2018, on the audits of US official gold reserves, I have exposed that during the audit procedures of the US official gold reserves from 1974 through 2008, repeatedly audit staff deviated from the auditing . Fort Knox Security: The Most Heavily Guarded Place - Reader's Digest Lets have a look. 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). ByI forget which date it was, I believe by 1986, wehold on just one second here, I got it. China Gold Import Jan-Sep 797t. The Great American Disaster: How Much Gold Remains In Fort Knox? 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 Armored Force School and the Armored Force Replacement Center began operations at Fort Knox in October 1940. 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. Welcome to the Coronation! It was also the first visit by a serving US Treasury Secretary since 1948. . 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. 'It just kind of came up as a result of a casual conversation,' McConnell said. "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". Circulating COIN & MEDAL PROGRAMS, History of U.S. Furthermore, these audits found no exceptions of any consequence. 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. 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. A Fort Knox physical gold audit in 1953 was anything but full, neither was the famous audit in 1974. However, how trustworthy is this system of accounting? BY . Much of this newfound gold came into government coffers as a result of President Franklin Roosevelts executive order confiscating privately held gold in 1933. Fort Knox Gold - History of Fort Knox | BullionByPost Fort Knox is supposedly filled with 400 oz. 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. What the Hell is This?: Mnuchin Tweets on Fort Knox Gold By Jennifer Liberto @ CNNMoney June 24, 2011: 11:58 AM ET. Join FORT KNOX code Axykp! In the meantime I will fire several new FOIAs at the Office of the Inspector General and others. Given all the protection, it seems obvious that billions of dollars worth of gold (or something) indeed resides at Fort Knox. The answer is, he cant. But, the OIG disclosed assay reports of the audits of 3 % of the US official gold reserves stored by the Mint at the congressional hearing in 2011 (exhibit 3 and 4). Ron Paul questions whether there's gold at Fort Knox, NY Fed Beginning in 1974, the auditors of the U.S. government's gold reserves held at Fort Knox, Ky., and at the U.S. Mint facilities in Denver, Colo., and West Point, N.Y. (which was named the West Point Bullion Depository from its opening in 1937 until it gained status as an official Mint in 1988), started a 10-year program to verify 100 percent of the gold reserves. The fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic. Train fares will rise by 5.9% TOMORROW - but travellers can still get cheaper tickets if they buy them Why is Britain experiencing so many earthquakes? The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. In 1977 the New York assay office, which is a subsidiary of the US Mint, conducted the assays. 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. Select stock location for your desired country in the dropdown to view our inventory available in that country. 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. Cookies are also used for the purpose of handling our system and services. Although the quality of the gold in the custody of the Federal Reserve Bank of New York cannot be readily assayed,. Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. PDF AUDIT REPORT - BullionStar In addition to facilities in West Point and Denver, the Fort Knox facilityknown as the U.S. Bullion Depositorystands out for its reputation as an impenetrable fortress. Its glittering gold . Thats 6 down, 7 more to go. Between 1933 and 1937, this increased . FORT KNOX MINE ICMC SUMMARY AUDIT REPORT . However, no outside experts were allowed in during the audit, and only about 5% of the gold was actually tested. The Mint and the GAO were sanctioned to audit a portion of the Treasury's gold. New York man wears glasses that help him Isabel Oakeshott receives 'menacing' message from Matt Hancock, Ken Bruce: 'I always wanted to be a radio presenter from about 15', Pavement where disabled woman gestured at cyclist before fatal crash, Pro-Ukrainian drone lands on Russian spy planes exposing location, 'Buster is next!' 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. It saves time and labor costs. Here is a rundown of some of Kooss key findings. Coins, American McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him. Secretary of the Treasury Steven Mnuchin visited Fort Knox on August 21. . 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). 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. & Facilities, Shop All After the gold was audited by the Continuing Audit committee all compartments were placed under Official Joint Seal. Several more examples of these blurry situations are shown in the released documents. United States Mint All Rights Reserved. And there is more, a lot more. I decided to send an email to the FOIA online Help Desk to ask what happened to my request. Fort Knox Policies. The controversial 'trauma expert' interviewing Prince Harry: Gabor Mat was warned by the Canadian A big Beckham birthday! In short, the US National Archives could not extradite the 7 audit reports I requested. 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!
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