Ive found many anomalies that well discuss. The last Congressional visit prior to this occurredin 1974. but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . After the Congressional inspection, the Bullion Depository will once again be closed to visitors. The assayer is unknown and there was no assay report included in the audit report. 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. Currency, Shop All The Armored Force School and the Armored Force Replacement Center began operations at Fort Knox in October 1940. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. 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. Shipping within the United States . By Patrick A. Heller. 'It would really be quite a movie if we walked in and there was no gold. However, as Ive written in my post Where Did The Gold In Fort Knox Come From? & Sales Figures. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. The other two-thirds, however, have not been inventoriedthat is according to my understandingor assayed since somewhere between 1975 and 1986. The First Critical Observations. In short, the US National Archives could not extradite the 7 audit reports I requested. The One "Audit" Of Fort Knox. 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). After writing it Ive been trying to collect all audit reports dating from1974 1986. Even then only 5% of the examined bullion was weighed and assayed to determine its purity. The next screen shot is from the reply by the FOIA help desk on May 6, 2015. Exhibit 7.2. Sets, Commemorative After some correspondence back and forth I finally got an email saying my FOIA was exported out of FOIAonline because myrequest was for access to historical records. teaching assistant pay netmums; when was the last time fort knox was audited. These CDCs offer full-day care, part-day, and hourly care. ( Kitco News) - Although he made this assumption nearly one year ago, the Donald's comments on gold at Fort Knox - or lack thereof - are making the rounds on Twitter again Tuesday. It saves time and labor costs. 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. 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. RSS Feeds . ', 'I assume the gold is still there,' he said. 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. Liberty, Bush 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. US Mint Releases New Fort Knox Audit Documentation. By Jennifer Liberto @ CNNMoney June 24, 2011: 11:58 AM ET. Lets have a look. These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. 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. *Its likely 97 % of the audited gold by the continuing audits committee has not been assayed by an independent assayer. 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. The auditors from the Treasury will be drawn from the Office of the Secretary, the Bureau of Government Financial Operations, the U.S. Customs Service, and the Bureau of the Mint. 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. Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. 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. The public may never know. In August 2017, US Treasury Secretary Steve Mnuchinvisited the gold vault at Fort Knox and, along with a few other politicians, surveyed the site. 312 tonnes of the total is 4 %. 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. Small quantities of gold are removed to test the purity during regularly scheduled audits. The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. 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. & Medal Programs, Tours Fort Knox Internal Review and Audit Compliance. The OIG audited 3 % from 1993 2008. Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. His advice to me was to try at the General Accounting Office (GAO) and National Archives for more reports. The event, Sept. 23, 1974, is often inaccurately called the last audit of Fort Knox. But theories exist regarding other possiblecontents of the vault -like the body of Jimmy Hoffa. 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. Engraved Prints, Shop All Gift One of the mostsecure andinaccessible places in the world, the facility once held the Declaration of Independence and Bill of Rights. The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. 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. July 1986 12,477,777.638 [this number Icopied from the 1986 report]. I left school at 16 with six GCSEs - and became a self-made millionaire. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. We are no longer accepting comments on this article. Its glittering gold . . Conclusion. Tuesday March 22, 2016 13:20. 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 gold is safe.'. About 000% of them were weighed. No outside experts were allowed on the site for the audit, either,providingfodder for all kinds of conspiracy theorists. President Reagan last spring demanding that this be looked into immediately. Exhibit 2. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 . After the gold was audited by the Continuing Audit committee all compartments were placed under Official Joint Seal. At its peak, 649.6 million ounces were stored at Fort Knox on December 31, 1941. 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. Official joint seal number 932 put in place on September 2, 1982, under the continuing audits of U.S.-owned goldstored at the Mint. Select stock location for your desired country in the dropdown to view our inventory available in that country. Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. This post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits. Did audit reveal missing gold . The auditors were bored and decided to re-audit 1,700 tonnes. Is the Coin Market Sleeping on Fairmont Collection Gold Coins? Telephone: (502) 624-2386. In October 1984, 4,136,046.924 fine troy ounces of gold were reaudited at the United States Mint, Denver. 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. Do you think it would be worthwhile, at least, to inventory and assay this portion of the Mint-held gold? It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). What his dogged FOIA requests have failed to reveal, unfortunately, is anything that would put the questions about the Fort Knox gold to rest. U.S. President Franklin D. Roosevelt passed legislation outlawing private ownership of gold, and gave instruction to build the depository at . Monetary Gold Stock of the United States On this sheet 5 physical gold audit reports are listed, framed in red. 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 assayer is unknown and there was no assay report included in the audit report. Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. 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. Jun 5th, 2022 . Moving on to the assay tests conducted at the US Mint. A movie producer before becoming treasury secretary, Mnuchin told a group of Louisville business leaders earlier in the day it was important for him to see the gold to attest that 'it is part of our national assets. Koos mainly provides unique insights about Chinese gold market. In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. 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 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 views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. Honor, Rolls, The usage of cookies and the collection of customer information by BullionStar is guided by our. A congressional delegation and some journalists got a look at the gold in 1974. But by 1986, you had 97 percent was audited. "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". fort knox crisis phone numbers. And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians. 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. However, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. 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. 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. It was obvious that some of the records were missing (or not provided). 15919 Avenida Venusto, Apt. The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. Find out what Uber drivers really think of you! As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. . 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. The Congressional inspection adheres to the new open door policy of the government announced by President Ford. In addition to the gold bricks, Bevin said he got to hold a 1933 double eagle, a $20 gold coin that was never circulated. For the first time photographing is being permitted inside the Depository.. Moreover, it showed a number of (at best) inconsistencies in how the mint conducts its bullion inspection for auditing purposes. The answer is, he cant. PBOC Gold Purchases: Separating Facts from Speculation. di McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him. 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. The Fort Knox Gold was last audited in the 1950s. The Mint and the GAO were sanctioned to audit a portion of the Treasury's gold. I personally believe that rumor and the bulk of it has been sold off to the rich elites. 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. www.smartaccess.us . The first screen shots below are from a gold verification at Fort Knox in March 1998. Jansen is a longtime gold insider and journalist reporting on, for example, the goings-on of the incipient Shanghai Gold Exchange (SGE). Lets recap what weve studied in the previous posts. Until 1953, there were serial number audits of the gold and some assaying as I explain but that became costly and time intensive. Exhibit 7.1. At the congressional hearing of the Gold Transparency Act (H.R. Equal Employment Opportunity. U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. Furthermore, these audits found no exceptions of any consequence. The comments below have not been moderated. As weve seen thus far there are many problems with the official story everything is fine, all the US official gold reserves all audited. "good delivery" gold bars. Medals, Treasury and "Glad the gold is safe!". Fort Knox gold subject of hearing. McConnell was part of a delegation of Kentucky politicians allowed inside the United States Bullion Depository at Fort Knox for the first time since 1974. His visit was the one and only time a gold vault was opened for inspection for anyone other than authorized personnel. Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. Given all the protection, it seems obvious that billions of dollars worth of gold (or something) indeed resides at Fort Knox. Two tetrahedron-shaped chips were removed form the top and bottom of each bar assayed. For the other years we dont know whatoffice performed the checks. 'It's not even the annual funding level for some of our large departments in the federal government,' he said. Secretary of the Treasury Steven Mnuchin visited Fort Knox on August 21. On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued. 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. 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 Then, something very strange happened in 1983. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. We will discuss the remaining 4 audit reports at once, as they are very similar. 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. 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. The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion. The Fort Knox facility was opened within the year, and took its first shipment of gold in 1937. 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. When I logged in at my account at the FOIA website, I saw my request had disappeared. 4. 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.). I shall rest here. 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. No need to read about these fascinating facts and important events that have shaped the U.S. as we know it today. In October 1984, 4,136,046.924 fine ounces gold was reaudited. He ought to have known precisely how many pages were needed and presumably where to find them. Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. Buy, ship and store bullion with BullionStar in/from different countries. Instead, I was advised to contact the Treasury. 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. And we attempted to contact a records management officer at the Treasury Department, but did not receive a reply as of the date of this letter. Pursuant to that order, the Committee for Continuing Audit of the U.S. Treasury Secretary William E. Simon issued the invitation to Congressmen to inspect the gold at Fort Knox. 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 . To access the gold vault at Fort Knox, you'd need to make your way through a network of security measures. . Three out of thirteen compartments at Fort Knox were audited for inventory and samples were assayed and compared to records currently held by the Mint. Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. At the hearing Thorson presented exhibits to support his case 100 % of the gold held at the US Mint has been audited. It seems that a portion of the Mint and the U.S. gold reserves were audited in an assay between 1993 and 2008, as you acknowledged. In performing the audit, the gold bars are physically moved from one vault compartment to another. This document also contains a summary of the 1980 audit which, by the way, isnt less detailed than the full 1981 report. The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." when was the last time fort knox was audited. 3. Every year the gold in Fort Knox is audited by checking the official joint seals that were placed on all vault compartments during the continuing audits of U.S.-owned gold from 1974 until 1986, when allegedly 97 % of the (Deep Storage) gold was inspected. 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. 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. Donald Trump Doesn't Think So. Site, Coin The reports were not present at the National Archives, the OIG or at the Treasury Department. How can the IG be positive if he did not have access to the most basic documentation? Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. Questions: Buffalo Coins, American Eagle And there is more, a lot more. 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. for Dads, American Women's History Coins & No irregularities were found.