The Mint estimated that as much as one-third of the gold reserves were examined during this period. The assayer is unknown and there was no assay report included in the audit report. At its peak, 649.6 million ounces were stored at Fort Knox on December 31, 1941. The last time that Congress audited it was 2019. Lets read more about the audits at the FRBNY conducted under the continuing audits program, a quote from the 1981 report: The audit procedures followed [at the FRBNY] are essentially the same as those followed at Bureau of the Mint depositories, except that assay samples are not taken to verify the purity of the gold. There was no assay report included in the audit report. Is Gold in Fort Knox Real? Ron Paul Wants to Know - CNBC Few people have ever entered the vault,and while147.3 million ounces of goldallegedly exists inside, the accuracy remains in doubt. Has the Federal Reserve Sold the Gold at Fort Knox? The New Year kicked off . 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. Coins, American & Sales Figures. Coins, Precious 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. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. Fort Knox is a U.S. army base in Kentucky, best known for the United States Bullion Depository which holds a large part of the U.S. government's reserves of gold. Meanwhile I was fortunate to find the 1981 audit report at the website The Golden Sextant fromReg Howe. 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. di Kids, Gifts for The OIG audited 3 % from 1993 2008. 4,243 bars were relocated from vault Jcompartment 19, to vault J compartment 2, at the Denver depository. 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. 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 wants gold at Fort Knox audited - Jun. 24, 2011 - CNNMoney According to the excel sheet the US Mint stores 312 tonnes in 9999 fine gold, spread over 3 depositories; Fort Knox 15 tonnes, Denver 100 tonnes, West Point 197 tonnes. Jansen is a longtime gold insider and journalist reporting on, for example, the goings-on of the incipient Shanghai Gold Exchange (SGE). Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. Thats 6 down, 7 more to go. 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!' Approximately half the U.S. Treasury's gold is located in the storage facility at Fort Knox The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. Circulating 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? PBOC Gold Purchases: Separating Facts from Speculation. Answer (1 of 2): Internally, it is done annually. All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? He tweeted " Glad gold is safe! when was the last time fort knox was audited In short, the US National Archives could not extradite the 7 audit reports I requested. & Medal Programs, Tours 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. 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. 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. 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. The gold is held as an asset at a value of $42.22 per ounce. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. Scales at the Mint used to weigh the bars often didnt work properly. 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. 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. This is what it said: This is in response to your March 2, 2015 Freedom of Information Act (FOIA) request for records in the custody of the National Archives and Records Administration (NARA). From the 1985 report: Sets, Commemorative Answer (1 of 2): Who knows but it is rumored that the majority of the gold in Fort Knox no longer exists! 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. And the problem goes far beyond missing audit reports. Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. Audit report Fort Knox 1981. 2023 DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. The One "Audit" Of Fort Knox. You requested access to audit reports of the United States Department of the Treasurys official gold reserves published by the Committee for Continuing Audit of the U.S. Page Last Modified: 8/26/19, 2:56 PM Fort Knox, KY. Our Nation's Gold Standard Army Home. No irregularities were found. Doubts About America's Official Gold Holdings: The US Gold Reserve fort knox crisis phone numbers. Ideas, Gifts for Official records claimed 20,000 tons in the 1950s. The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. Given all the protection, it seems obvious that billions of dollars worth of gold (or something) indeed resides at Fort Knox. The assay tests found no irregularities. 147.3 million ounces of gold is stored at Fort Knox. 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. Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, U.S. 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 . Fort Knox DPW team completes large audit ahead of deadline in support Exhibit 7.2. A second storage facility was built at the same time: . There Is Gold in Fort Knox | Newsmax.com 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. Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. "good delivery" bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong. On the way to the vault, a literal mine field and an electric fence protectthe gold. www.smartaccess.us . Cookies are also used for the purpose of handling our system and services. Not only were the vault compartments at the FRBNY exempt from being sealed, in addition, for an unknown reason assay tests were never performed at the FRBNY! 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. No photographs were allowed, of course. It's going on right now as I say these words. However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. 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 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? I am glad to report that everything at the depository looked to be secure and in order. You can change the usage of cookies in your browser. U.S. Government Gold Reserve Auditor Deceptions Text Alerts, Contact He said this, but there is no proof. Learn how your comment data is processed. PDF ICMI Gold Mining Audit Report - International Cyanide Management Code 35+ Mind Blowing Fort Knox Facts How Many Did You Know Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. 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. Save my name, email, and website in this browser for the next time I comment. "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. Fort Knox and The Missing Gold! - Strange Unexplained Mysteries "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". and until 2010, every member of . Buy for Vault Storage in the United States It was also the first visit by a serving US Treasury Secretary since 1948. Also, the assay test results from last year's gold audits at Fort Knox and West Point were Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. As the last days tick away, let's take a moment to recap the top 12 stories at Fort Knox that shaped our 2021. US Official Gold Reserves Auditor Caught Lying - Substack Much of this newfound gold came into government coffers as a result of President Franklin Roosevelts executive order confiscating privately held gold in 1933. Visitor Information :: U.S. Army Fort Knox: Gold Standard Army Installation Engraved Prints, Shop All Gift ALL COIN PROGRAMS, National Purple Heart Hall of Fort . In the 1980 report we can read the audit procedures and a few other snippets (well quickly jump through) that help us understand how and where the audits were conducted: Audit procedures included (1) inspecting the joint audit committee seals used to control compartments containing previously audited gold; (2) comparing the records for each compartment inventoried to the identifying information on the gold bars; (3) weighing, from each compartment inventoried, at least one randomly selected melt in each fifty melts (a melt, averages about 20 bars cast from one crucible of molten gold); (4) removing samples from a bar in each of the melts weighed and having the samples assayed; (5) verifying the mathematical accuracy of all inventory records; (6) verifying the inventoried gold to the institutions records; (7) verifying the quantities shown by the institutions records to the control accounts for gold maintained by the Bureau of the Mint and to the central accounts maintained by BGFO; (8) placing audited gold bars in compartments under Official Joint Seal and audit committee control; and (9) reviewing and evaluating internal controls and security procedures. Select stock location for your desired country in the dropdown to view our inventory available in that country. Try Army A-Z. 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. His visit was the one and only time a gold vault was opened for inspection for anyone other than authorized personnel. Revealed: The top 10 fastest-growing destinations for UK pensioners retiring overseas. More from 1981 report: The continuing audit is being conducted on a cyclical basis because of the enormous quantity of gold to be handled and the related costs. It was obvious that some of the records were missing (or not provided). Fort Knox, Kentucky is an Army base with more than one hundred thousand acres stretching across three counties. Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. 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. One wonders: was this a simple oversight or some kind of conscious obfuscation effort? At the end of Fiscal Year of 2008, all 42 compartments had been audited by either the GAO, the Committee for Continuing Audit of the U.S. 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. 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 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. Thats everything we have, or are aware of. Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. U.S. Government Lost 7 Fort Knox Gold Audit Reports However, a Freedom Of Information Act request Ive submitted in order to obtain all audit reports could not be honored. Shortly after I got an email that statedmy request had been received and was being processed. Telephone: (502) 624-2386. A barrel is worth about $1,200 or $2.88 per pound which is 10-18 times the value of U.S. crude oil. According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! Each and every bar there should be assayed in a full, independent audit.
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