The U.S. gold reserves at Fort Knox are broken into different numbered compartments within the gold vault. Between July 1983 and July 1985 the gold was audited in accordance with the plan approved by the Treasurer, as follows. Prince Andrew chuckles as he encounters female jogger on way to his weekly Windsor horse-riding trip. 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. 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? US citizens were required to sell their gold bullion - bars and coins - back to the State. In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. This was the first time the OIG was responsible for the audits of the gold at the Mint (note, this same OIG is still responsible for the audits). Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. As a freebie trip for 4 select political insiders, last Monday's trip to Fort Knox was undoubtedly a memorable one . Based on glaring conflicts among the Treasury's own documents, this staggering amount of gold disappeared without a trace from 1961 to 1971. . Representative Alex Mooney (R . Fort Knox is home to more than 30 commands and organizations with a daytime population of about 26,260 Soldiers, civilian employees and Family members. Military/Civilian clock Examples of Civilian/Military time conversion. 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). and until 2010, every member of . So, what's really inside Fort Knox? On the way to the vault, a literal mine field and an electric fence protectthe gold. 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 was also the first visit by a serving US Treasury Secretary since 1948. Fort Knox is used to store a large portion of United States official gold reserves and occasionally other precious . 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. 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. 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 . 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. Meanwhile I was fortunate to find the 1981 audit report at the website The Golden Sextant fromReg Howe. Medals, Email & Connecting thereto, from Thorsons opening statement: My office began conducting annual audits of the gold reserves in Fiscal Year 1993. Facilities, Production Are you already an expert in everything America? Your browser is out of date. Bureau of Government Financial Operations [BGFO]. 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. The other two-thirds, however, have not been inventoriedthat is according to my understandingor assayed since somewhere between 1975 and 1986. Fort Knox facts. In an audit conducted at Fort Knox in 1953, 88 ingots were counted for verification. & Facilities, Shop All Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! 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, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. Jun 5th, 2022 . Gold verification at Fort Knox March 1998, page 1. Thank you for signing up with United States Mint! The last time Fort Knox had opened its vault to civilians was more than 40 years earlier. These CDCs offer full-day care, part-day, and hourly care. Matt Bevin. If official documents come to surface I will report accordingly. A separate post will be dedicated to KPMG. A second storage facility was built at the same time: . previous, back to No photographs were allowed, of course. Welcome to the Coronation! Talkers Medals, Military And the problem goes far beyond missing audit reports. Two tetrahedron-shaped chips were removed form the top and bottom of each bar assayed. Currency, Shop All For the best and most secure experience in our catalog, please update your browser. Telephone: (502) 624-2386. CoinWeek: Rare Coin, Currency, and Bullion News for Collectors, it should be clear that the Deep Storage gold has not been audited by professionals, but the precious metals have been verified by imbeciles., submitted a number of Freedom of Information Act (FOIA) requests, Kolbe & Fanning Booksellers Buy or Bid Sale #3 Today Through March 15, Selections from Atlas Numismatics New Ancient, World Coin Inventory, Lesser Known History of the US Mint in Saudi Gold and Other Tales, Bitcoins and Physical Cryptocurrency in Stacks Bowers Auction. Day trip: Steve Mnuchin and his wife Louise Linton touched down in Kentucky earlier on Monday prior to the Treasury Secretary's tour of Fort Knox. The comments below have not been moderated. We will discuss the remaining 4 audit reports at once, as they are very similar. 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. Why might the government entrust such inexperienced employees with this important task? This would last until 2010 when the Armor School was relocated to Fort Benning, Georgia. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. However, how trustworthy is this system of accounting? 4,243 bars were relocated from vault Jcompartment 19, to vault J compartment 2, at the Denver depository. . July 1986 12,477,777.638 [this number Icopied from the 1986 report]. Fort Knox Internal Review and Audit Compliance. Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. Miles Franklin sponsored this article by Gary Christenson.The opinions are his, and they are not investment advice. Coin bars are assaying 899 to 901 per mille or 915 1/2 to 917 per mille,roughly 90 % pure, and these types of bars allegedly form the bulk of the US official gold reserves. 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). The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. 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 . 211 votes, 25 comments. 'So many dead. "good delivery" gold bars. Circulating Conclusion. Shipping within the United States The first screen shots below are from a gold verification at Fort Knox in March 1998. Great! There has not been any movement of inventoried gold since that time. The facility also featuresvideo cameras, motion detectors, and secret microphones, all set to pick up the presence of anyone or anything that doesn't belong. 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. On this sheet 5 physical gold audit reports are listed, framed in red. However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. 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. But Bevin, speaking on WHAS radio, divulged a few more details. 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. Coins, American HOME; EVENTS; ABOUT; CONTACT; FOR ADULTS; FOR KIDS; accident on 9w marlboro, ny today In 1953, the US Treasury Department audited Fort Knox, but only around5% of the goldunderwent testingfor purity. Kinross - Fort Knox Mine April 22nd, 2021 Signature of Lead Auditor Page 2 of 47 . There Is No Proof All Gold Is In Fort Knox. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . . Not that it would be easy to even make it this far, but the door to the vault is made of steel and . After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . 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 target this time is the United States Treasury Assay Office in New York . 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. 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. 1495,not enacted) in 2011 the Inspector General (IG) of the Treasury presented a case all is fine, but all is not fine. ByI forget which date it was, I believe by 1986, wehold on just one second here, I got it. These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. I also want to assure you that the physical security over the gold reserves is absolute. Sevenreports are missing. Daily free rolls! The vault can withstand guns, blowtorches, and other incendiary devices. Coins, Precious On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued. As the last days tick away, let's take a moment to recap the top 12 stories at Fort Knox that shaped our 2021. The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . The novel begins: 7:20 am, September 11, 2015. The official story from OIG is that 100 % of the gold stored at Fort Knox was audited in between 1974 and 1986, . When I logged in at my account at the FOIA website, I saw my request had disappeared. The OIG audited 3 % from 1993 2008. 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. & Medal Programs, Tours The last full audit was done in 1953 . How can the IG be positive if he did not have access to the most basic documentation? Fort Knox, Kentucky is an Army base with more than one hundred thousand acres stretching across three counties. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. 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. All your favorite.50 games all in one club! 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. The US Treasury currently owns 8,134 tonnes of gold of which 7,716 tonnes is stored by the US Mint (4,583 tonnes at Fort Knox, 1,364 tonnes in Denver, 1,682 at West Point) and 418 tonnes at the Federal Reserve Bank Of New York. "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". Lets have a look. 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. This is remarkable. Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. 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. One of last year's uproars was the decision by US officials to carry out an audit of these gold vaults. 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. Site, Coin 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. 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. The gold at Fort Knox is stored in one of the most secure facilities in the world. 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. 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. for Dads, American Women's History Coins & Ron Paul (R-Texas) says his measure to audit the Federal Reserve, which passed the House last December, would force the first open audit of Ft. Knox in decades. 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.. Fort Knox Policies. As required under the Cyanide Code, the mine was again audited against ICMI's Verification Protocol by independent professional third-party auditors within three . In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. From at least 1944 the world reserve currency is the US dollar, which was backed by gold until 1971 and supported by gold ever since. However, no outside experts were allowed in during the audit, and only about 5% of the gold was actually tested. In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. In 1977 the New York assay office, which is a subsidiary of the US Mint, conducted the assays. As weve seen thus far there are many problems with the official story everything is fine, all the US official gold reserves all audited. Donald Trump Doesn't Think So. After writing it Ive been trying to collect all audit reports dating from1974 1986. . In June 1975, the Treasury Secretary authorized and directed a continuing audit of U.S. I decided to send an email to the FOIA online Help Desk to ask what happened to my request. Fort Knox sits on over 100,000 acres and houses 30,000 military personnel. random nose bleed covid. Fort Knox: "Glad Gold Is Safe!". Equal Employment Opportunity. Presidential Coins, Kennedy Half 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 . The fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic. By Patrick A. Heller. Tiger Woods unleashes his lawyers on porn site after it Bannon is 'going to war' against Jared, 'crying Ivanka' and A whole hue world! Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. 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. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. PBOC Gold Purchases: Separating Facts from Speculation. The assay tests found no irregularities. 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 . ', 'All I will say is that it is freakishly well secured,' he said. . Lets recap what weve studied in the previous posts. Furthermore, these audits found no exceptions of any consequence. 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. 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. We are no longer accepting comments on this article. It's going on right now as I say these words. Is the Coin Market Sleeping on Fairmont Collection Gold Coins? The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." & Sales Figures. 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. They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. 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. I shall rest here. And there is more, a lot more. 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). 'It would really be quite a movie if we walked in and there was no gold. Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. Moreover, it showed a number of (at best) inconsistencies in how the mint conducts its bullion inspection for auditing purposes. 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. And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians. www.smartaccess.us . Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. 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 another dubious mix-up, a number of measurements were faulty because the auditors misread where the decimal point was on the scale. 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. Ron Paul introduced a bill that would require the Fed to manually audit every U.S.-owned gold . For this post well focus on the continuing audits of U.S.-owned gold, as these audits should proof there is gold in Fort Knox. You may consider submitting a FOIA request directly to the Treasury Department. 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. That shipment required a convoy of 33 15-ton trailers to move the gold. Koos Jansen. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. Next, we can see Thorsons list he presented of physical gold audit reports of the continuingaudit program from 1974 to 1986. The gold is held as an asset at a value of $42.22 per ounce. It was obvious that some of the records were missing (or not provided). 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. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. All News, Articles, Commentary and Opinions are contributed by the author(s), with or without compensation, who are solely responsible for the content, and do not represent CoinWeek Management. 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. Small quantities of gold are removed to test the purity during regularly scheduled audits. Part One, We use cookies to enhance the user experience and to analyse traffic. We asked the experts - and their answers will terrify you Public Service Announcement, do NOT watch these ads! 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 Eisenhower Administration Conducted The Last Audit Of Fort Knox. I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself. 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. 'It's not even the annual funding level for some of our large departments in the federal government,' he said. 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). . GAO stands for General Accounting Office, OIG stands for Office of Inspector General. There was nothing left to do but submit a Freedom Of Information Act (FOIA) request. It was nothing more than a peek-a-boo glance at the gold in fine Hollywood style. 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. 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. 35 % first buy in bonus! Koos mainly provides unique insights about Chinese gold market. 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 vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. Official records claimed 20,000 tons in the 1950s. According to some sources, this is where most of the other Treasury's gold is located. Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. He attempted to pinpoint how the Treasury Department verifies that the gold in its vault is both present and real.
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