"We have approximately $200 billion of gold at Fort Knox," said Mnuchin. Did The Dutch Central Bank Lie About Its Gold Bar List? 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. The First Critical Observations", February 2017. noting that it was "over 20 years" since the last one. 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. 147.3 million ounces of gold is stored at Fort Knox. Domestic and International Shipping from Singapore Secretary Mnuchin's statements were not helpful. However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. Matt Bevin. 'It would really be quite a movie if we walked in and there was no gold. Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . On the way to the vault, a literal mine field and an electric fence protectthe gold. 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. 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. Thank you for signing up with United States Mint! The last full audit was done in 1953 . 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.). The assayer is unknown and there was no assay report included in the audit report. : 201217896Z They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. 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. American $1 Coins, SHOP Engraved Prints, Shop All Gift eonon change home screen. previous, back to Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, U.S. In an interview, McConnell said he could not say much about the visit for security reasons. Tiger Woods unleashes his lawyers on porn site after it Bannon is 'going to war' against Jared, 'crying Ivanka' and A whole hue world! Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. Exhibit 2. The day of the Mary Brooks tour of Fort Knox, September 23, 1974, the Treasury announced that for the first time in twenty-one years, they would agree to an audit of the U.S. gold reserve. Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. I also want to assure you that the physical security over the gold reserves is absolute. Many conspiracy theorists - like the Gold Anti-Trust Action Committee (GATA)- believe the gold doesn't really exist, there isn't as much as the government claims, or the government has sold it off for years. Thats 6 down, 7 more to go. All your favorite.50 games all in one club! 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 United States Mint All Rights Reserved. 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). There Is No Proof All Gold Is In Fort Knox. 213K subscribers in the Wallstreetsilver community. Did audit reveal missing gold . Find out what Uber drivers really think of you! 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? Facilities, Production 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. Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! Click on the links for more information:Buy for Vault Storage in Singapore He ought to have known precisely how many pages were needed and presumably where to find them. The comments below have not been moderated. (in millions of ounces), SIGN UP FOR EMAIL UPDATES AND TEXT MESSAGE ALERTS ABOUT PRODUCTS. 211 votes, 25 comments. Train fares will rise by 5.9% TOMORROW - but travellers can still get cheaper tickets if they buy them Why is Britain experiencing so many earthquakes? Are you already an expert in everything America? In June 1975, the Treasury Secretary authorized and directed a continuing audit of U.S. 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. The process would take about 30 minutes to verify the gold content of each bar, or 350,000 man hours; to do that . & Facilities, Shop All Share this page: Army.mil. The Mint and the GAO were sanctioned to audit a portion of the Treasury's gold. The documents also include new details about Mnuchin's activities at Fort Knox, where the Treasury stores a stockpile of gold with a market value it estimates at $190 billion. "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. 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. Republican frontrunner Donald Trump hinted at the idea that there just might be no gold in the U.S. If you subscribe to this theory, the incredible amount of protection at the U.S. Bullion Depository is for little more than a pile of IOUs. 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. Fort Knox: "Glad Gold Is Safe!". But Bevin, speaking on WHAS radio, divulged a few more details. In 1936, Fort Knox military base was chosen as the site to build a bullion depository to store this gold. In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. Contact Us. The New Year kicked off . Pursuant to that order, the Committee for Continuing Audit of the U.S. Small quantities of gold are removed to test the purity during regularly scheduled audits. And the last time it was counted was actually in 1953." This fits right into how the US government imposes audits on their official gold reserves; the audits are performed by the US government itself. Coins, American He attempted to pinpoint how the Treasury Department verifies that the gold in its vault is both present and real. By using our website, you accept that cookies are used. 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. Then let's raise a glass to a slower, quieter 2022 . Save my name, email, and website in this browser for the next time I comment. The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." Koos mainly provides unique insights about Chinese gold market. There was no assay report included in the audit report. 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. 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. Text Alerts, Contact When the mint finally produced the audit documentation, Jansen received 134 lightly redacted pages (rather than the estimated total of 1,200 pages). 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. Built in 1936, security access for the facility make it difficult to get access. How can the IG be positive if he did not have access to the most basic documentation? HOME; EVENTS; ABOUT; CONTACT; FOR ADULTS; FOR KIDS; accident on 9w marlboro, ny today Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. The Congressional inspection adheres to the new open door policy of the government announced by President Ford. 4,243 bars were relocated from vault Jcompartment 19, to vault J compartment 2, at the Denver depository. 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. Connecting thereto, from Thorsons opening statement: My office began conducting annual audits of the gold reserves in Fiscal Year 1993. It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. The One "Audit" Of Fort Knox. Interactive map reveals when you may see SNOW. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. Jansen found instances in which the Treasurys auditors failed to follow the governments own procedures for the auditing process. 2023 DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. No outside experts were allowed on the site for the audit, either,providingfodder for all kinds of conspiracy theorists. This would last until 2010 when the Armor School was relocated to Fort Benning, Georgia. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . Fort . This is remarkable. 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. & Medal Programs, Tours . Not that it would be easy to even make it this far, but the door to the vault is made of steel and . President Reagan last spring demanding that this be looked into immediately. The assayer is unknown and no assay reports have been included in the audit reports. previous, Kids On this sheet 5 physical gold audit reports are listed, framed in red. Site, Coin It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). A second storage facility was built at the same time: . Coin 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. 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. 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. 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. For the best and most secure experience in our catalog, please update your browser. Your request was received in this office on March 3, 2015 and assigned FOIA case number RD 45578. 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.. 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. A waiting list may be . According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! The next screen shot is from the reply by the FOIA help desk on May 6, 2015. As a result, the gold at the Bank [FRBNY] is considered unaudited. 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. 15919 Avenida Venusto, Apt. The last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. Audit report Fort Knox 1981. On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. At the congressional hearing of the Gold Transparency Act (H.R. When thinking about these re-audits, threescenarios pop to mind: Why else wouldso much gold have been re-audited? The last time that Congress audited it was 2019. There can be no world reserve currency without appropriate gold reserves supporting it, providing essential confidence and credibility. His visit was the one and only time a gold vault was opened for inspection for anyone other than authorized personnel. Of course,strange things have been stored in the vault, like morphine and opiumduring the early '90s. The First Critical Observations. 45 New Bridge Road, Singapore 059398 Singapore 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). The novel begins: 7:20 am, September 11, 2015. 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. Experts weigh in as tremors hit Wales, Cornwall and the Are YOU eating the right colours? 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. 26 Feb 2017 13:18. Submitted to: . Fort Knox is supposedly filled with 400 oz. The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. Us, ALL Between 1933 and 1937, this increased . 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. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. *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. Prince Andrew chuckles as he encounters female jogger on way to his weekly Windsor horse-riding trip.