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( 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. The assay tests found no irregularities. Great! Same story at the US Mint and US National Archives. The last Congressional visit prior to this occurredin 1974. When I logged in at my account at the FOIA website, I saw my request had disappeared. I would like to stress the importance of this failure to deliver the audit reports of 97 % of the official US gold reserves by the department directly responsible at this point in time. Ive found many anomalies that well discuss. I personally believe that rumor and the bulk of it has been sold off to the rich elites. & Sales Figures. Moving on to the assay tests conducted at the US Mint. 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 . Matt Bevin. 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. Contact Us. Koos mainly provides unique insights about Chinese gold market. 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. Miles Franklin sponsored this article by Gary Christenson.The opinions are his, and they are not investment advice. We asked the experts - and their answers will terrify you Public Service Announcement, do NOT watch these ads! The First Critical Observations. US Mint Releases New Fort Knox "Audit Documentation": First Critical In 1974, after the US closed the gold window, congressional support grew for inquiring into the US gold stock. 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. Bureau of Government Financial Operations [BGFO]. Interactive map reveals when you may see SNOW. Representative Alex Mooney (R . Here is a rundown of some of Kooss key findings. Scales at the Mint used to weigh the bars often didnt work properly. Next was the GAO; unfortunately they couldnt deliver anything I was looking for. The audit will be performed by a committee of auditors from the U.S. General Accounting Office (GAO) and the Department of the Treasury. Government-owned Gold, or my office, and placed under official joint seals. Fort Knox Is So Mysterious And Heavily Guarded, Only One US President Experts weigh in as tremors hit Wales, Cornwall and the Are YOU eating the right colours? 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. 35+ Mind Blowing Fort Knox Facts How Many Did You Know Answer (1 of 2): Who knows but it is rumored that the majority of the gold in Fort Knox no longer exists! July 1986 12,477,777.638 [this number Icopied from the 1986 report]. Doubts About America's Official Gold Holdings: The US Gold Reserve Fort Knox history. 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. Fort Knox gold subject of hearing. 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. ALL COIN PROGRAMS, National Purple Heart Hall of In October 1984, 4,136,046.924 fine ounces gold was reaudited. Fort Knox Looted of 7,000 Tons of Gold in 1973-1974 says 1981 Article! HOME; EVENTS; ABOUT; CONTACT; FOR ADULTS; FOR KIDS; accident on 9w marlboro, ny today Prince Andrew chuckles as he encounters female jogger on way to his weekly Windsor horse-riding trip. 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.). fort knox crisis phone numbers. but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . The next screen shot is from the reply by the FOIA help desk on May 6, 2015. Fort Knox facts. 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. Coins, American By and large, the vast majority of the verification is done by checking Official Joint Seals. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. Because there remains so little information about the contents of the gold vault, a lot of theories crop upregarding what's really inside Fort Knox. 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. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 . U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. Fort Knox and The Missing Gold! - Strange Unexplained Mysteries PDF AUDIT REPORT - BullionStar Only One President Has Ever Been Inside Fort Knox Why Is It - Ranker 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 October 1984, 4,136,046.924 fine troy ounces of gold were reaudited at the United States Mint, Denver. and until 2010, every member of . 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. They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. To access the gold vault at Fort Knox, you'd need to make your way through a network of security measures. The Fort Knox facilitys reputation is thanks to its world-renowned system of security measures, from countless cameras to U.S. Mint Police guards, military helicopters, land mines, fences of barbed and electric wire, and a virtually impregnable vault door. : 201217896Z 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. 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. Ron Paul introduced a bill that would require the Fed to manually audit every U.S.-owned gold . It saves time and labor costs. On top of this, a decades worth (1993-2003) of Joint Seal inspections from the Denver and West Point depositories are not accounted for. An overview starting from 1953: *In the 1953 report we could read 26 bars (0.00002 % of the total stash at that time) were assayed from bore samples. Submitted to: . If Ft. Knox Isn't Empty | Gary North -- Specific Answers The New Year kicked off . But theories exist regarding other possiblecontents of the vault -like the body of Jimmy Hoffa. 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. Small quantities of gold are removed to test the purity during regularly scheduled audits. *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 audit announced, however, would include just 20% of the gold. Mint Medals, Shop All Paper No need to read about these fascinating facts and important events that have shaped the U.S. as we know it today. 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. Ideas, Gifts for Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. 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. 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. 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). Try Army A-Z. The US official gold reserves are the worlds greatest by far at 8,134 metric tonnes. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. Mnuchin's Visit to Fort Knox l JM Bullion Part of the Daily Mail, The Mail on Sunday & Metro Media Group. Government-owned Goldare not in our collection." This post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits. Is There Really Any Fort Knox Gold - Historic Mysteries As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. The missing audit reports and assay reports feed into our skepticism. 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. 26 Feb 2017 13:18. 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. Fort Knox: "Glad Gold Is Safe!". Secretary Mnuchin's statements were not helpful. However, how trustworthy is this system of accounting? The last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. No photographs were allowed, of course. Built in 1936, security access for the facility make it difficult to get access. Coincidentally almost all the gold assayed by the OIG from 2004 2008 was 9999 fine. 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. There was no assay report included in the audit report. A separate post will be dedicated to KPMG. Fort Knox Security: The Most Heavily Guarded Place - Reader's Digest Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. At the congressional hearing of the Gold Transparency Act in 2011 Inspector General (IG) Eric Thorson stated: Before I discuss the details of the audits that are the topic of this hearing, I want to make one point very clear: 100 percent of the U.S. Governments gold reserves in the custody of the Mint has been inventoried and audited. Two tetrahedron-shaped chips were removed form the top and bottom of each bar assayed. ', 'All I will say is that it is freakishly well secured,' he said. Exhibit 7.2. The last time any gold was removed from deep storage at Fort Knox came in 1971, when $500 million worth of gold was delivered to the New York Assay Office. Revealed: The top 10 fastest-growing destinations for UK pensioners retiring overseas. After the gold was audited by the Continuing Audit committee all compartments were placed under Official Joint Seal. Conclusion. By gathering information from audit reports from 1974 1986 (the ones I could get my hands on) and statements made at the congressional hearing in 2011 well analyze our way through this. Site, Coin In short, the US National Archives could not extradite the 7 audit reports I requested. However, in some instances, the rationale for moving gold from one compartment to another proved elusive. 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! Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. Save my name, email, and website in this browser for the next time I comment. It was nothing more than a peek-a-boo glance at the gold in fine Hollywood style. Several more examples of these blurry situations are shown in the released documents. By Patrick A. Heller. Exhibit 7.3. But Bevin, speaking on WHAS radio, divulged a few more details. ', 'I assume the gold is still there,' he said. 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. 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. "good delivery" bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong. U.S. Government Lost 7 Fort Knox Gold Audit Reports 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. in 2004 the assayer was Ledoux & Company, a private contractor (read their homepage). By the end of 1982 the continuing audits committee, which consisted of BGFO and US Mint staff, was reorganized under the Department of the Treasury, Office of the Inspector General. 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? No irregularities were found. 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, ALL 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. Should America's Gold Reserves Be Audited? - Sound Money Defense The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. Equal Employment Opportunity. Buy for Vault Storage in New Zealand 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). 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 . Need Help? And the last time it was counted was actually in 1953." Military/Civilian clock Examples of Civilian/Military time conversion. More false statements by the auditor have appeared, further eroding its credibility. I shall rest here. The gold is held as an asset at a value of $42.22 per ounce. The Eisenhower Administration Conducted The Last Audit Of Fort Knox In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. The inspection by Members of Congress on September 23, 1974, of U.S. gold stocks stored at the Fort Knox (Ky.) Bullion Depository marks a unique departure from the long standing and rigidly enforced policy of absolutely no visitors, Mrs. Mary Brooks, Director of the Mint, announced today. Medals, Treasury and Mnuchin's PR Visit to Fort Knox proves nothing about the - GoldSeek However, no outside experts were allowed in during the audit, and only about 5% of the gold was actually tested. One of last year's uproars was the decision by US officials to carry out an audit of these gold vaults. A barrel is worth about $1,200 or $2.88 per pound which is 10-18 times the value of U.S. crude oil. In the meantime I will fire several new FOIAs at the Office of the Inspector General and others. "good delivery" gold bars. 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). In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. previous, Kids Exhibit 7.1. There can be no world reserve currency without appropriate gold reserves supporting it, providing essential confidence and credibility. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. As the last days tick away, let's take a moment to recap the top 12 stories at Fort Knox that shaped our 2021. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. Also, the assay test results from last year's gold audits at Fort Knox and West Point were Buy for Vault Storage in the United States Ron Paul wants gold at Fort Knox audited - Jun. 24, 2011 - CNNMoney An intruder standing on the roof of the Fort Knox Bullion Depository on the morning of September 11, 2015 would have seen the sunrise in the east. U.S. Government Gold Reserve Auditor Deceptions (Back to top) CIVILIAN TIME MILITARY TIME CIVILIAN TIME MILITARY TIME 12:01 AM 0001 5:00 PM 1700 (Seventeen hundred) 5:00 AM 0500 10:00 PM 2200 10:00 AM 1000 (Ten hundred) 11:30 PM 2330 12:00 PM (Noon) 1200 12:00 AM . 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. The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. 'It would really be quite a movie if we walked in and there was no gold. 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. Fort Knox opens famed vault to civilians after 40 years As will conclusions and speculation. It was a magnificent golden sunrise that inspired visions of glory, wealth, and beauty. Page Last Modified: 8/26/19, 2:56 PM Fort Knox, KY. Our Nation's Gold Standard Army Home. The Treasury document says it would cost about $15 million to conduct an audit. He said this, but there is no proof. 4. Few people have ever entered the vault,and while147.3 million ounces of goldallegedly exists inside, the accuracy remains in doubt. What the Hell is This?: Mnuchin Tweets on Fort Knox Gold In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. Text Alerts, Contact 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. Lets recap what weve studied in the previous posts. We are no longer accepting comments on this article. The assay tests found no irregularities. Of course,strange things have been stored in the vault, like morphine and opiumduring the early '90s. Dollars, Native In addition to facilities in West Point and Denver, the Fort Knox facility-known as the U.S. Bullion Depository -stands out for its reputation as an impenetrable fortress. Republican frontrunner Donald Trump hinted at the idea that there just might be no gold in the U.S. 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. . After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. 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. The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. For instance, sample sizes used for assaying were conspicuously small. It was obvious that some of the records were missing (or not provided). According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. Government-owned gold for which Treasury is accountable. I decided to send an email to the FOIA online Help Desk to ask what happened to my request. random nose bleed covid. 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. An excuse was needed to break the seals. In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). 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. 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. At various times, it has been used to store other valuable items, such as the Declaration of Independence, one of the four copies of the Magna Carta, and the crown jewels of foreign nations. With regardto my quest for all reports, lets have a look what US government departments could not deliver whatI was looking for: First was the Counsel to the Inspector General Department of the Treasury. Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. Fort Knox | Military Base Guide Audit report Fort Knox 1981. 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. The auditors were bored and decided to re-audit 1,700 tonnes. Facilities, Production there has not been anyone allowed access to confirm the gold amounts that are supposedly stored at the Fort. 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. The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . U.S. Mint Releases Fort Knox Audit - CoinWeek Official joint seal number 932 put in place on September 2, 1982, under the continuing audits of U.S.-owned goldstored at the Mint. 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. The assayer is unknown and there was no assay report included in the audit report. initial 1974 Fort Knox audit which was conducted by GAO and Treasury auditors. 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 ByI forget which date it was, I believe by 1986, wehold on just one second here, I got it. Ron Paul worries Fort Knox gold is gone. Fort Knox Gold: Once upon a time, the Fort Knox Bullion Depository was a vast storehouse for American gold. July 21, 2017 7:24AM. 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. when was the last time fort knox was audited. As required under the Cyanide Code, the mine was again audited against ICMI's Verification Protocol by independent professional third-party auditors within three . document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Connecting thereto, from Thorsons opening statement: My office began conducting annual audits of the gold reserves in Fiscal Year 1993. Murdaugh is heckled as he leaves court, Moment teenager crashes into back of lorry after 100mph police race, Ken Bruce finishes his 30-year tenure as host of BBC Radio 2, Family of a 10-month-old baby filmed vaping open up, Missing hiker buried under snow forces arm out to wave to helicopter, Insane moment river of rocks falls onto Malibu Canyon in CA, Fleet-footed cop chases an offender riding a scooter, Ukrainian soldier takes out five tanks with Javelin missiles. Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. At its peak, 649.6 million ounces were stored at Fort Knox on December 31, 1941. Did The Dutch Central Bank Lie About Its Gold Bar List? 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. Liberty, Bush Find out what Uber drivers really think of you! Although the quality of the gold in the custody of the Federal Reserve Bank of New York cannot be readily assayed,. Fort Knox is also on the list of these 10 forbidden places that no one is ever allowed to visit. In an interview, McConnell said he could not say much about the visit for security reasons. 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. By using our website, you accept that cookies are used. I left school at 16 with six GCSEs - and became a self-made millionaire. Senator from Kentucky, where Fort Knox is located. 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.