Fort Knox Operation . Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. Other problems sound laughable in their incompetence. Audit report Fort Knox 1981. di 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). The public may never know. Does The Fort Knox Gold Really Exist? | Gold Eagle The Facebook predator who lured schoolgirls to run away with him is one of 7,000 sex fiends who offended Do not sell or share my personal information. Whos Supplying? 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. After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. US Official Gold Reserves Auditor Caught Lying - Substack ', 'All I will say is that it is freakishly well secured,' he said. ByI forget which date it was, I believe by 1986, wehold on just one second here, I got it. And the last time it was counted was actually in 1953." US Mint Releases New Fort Knox Audit Documentation. 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. noting that it was "over 20 years" since the last one. 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. . Daily free rolls! COIN & MEDAL PROGRAMS, History of U.S. Inside the lonely life of 'pavement killer': Neighbours reveal how 'childlike' disabled woman jailed for Tragedies of Everest: The adventurers forever frozen in ice after losing their lives scaling the world's 'Why the last-minute delay?' 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. The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. Ron Paul worries Fort Knox gold is gone. The last Congressional visit prior to this occurredin 1974. For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. By Patrick A. Heller. 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. 2021 what a year, Fort Knox! | Article | The United States Army 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. Gold at Fort Knox? Donald Trump Doesn't Think So | Kitco News All your favorite.50 games all in one club! Join FORT KNOX code Axykp This post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits. Compared to the samples taken in the 1950s and 60s, the standards for the integrity of the sample size had fallen sharply. Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. (in millions of ounces), SIGN UP FOR EMAIL UPDATES AND TEXT MESSAGE ALERTS ABOUT PRODUCTS. 1495,not enacted) in 2011 the Inspector General (IG) of the Treasury presented a case all is fine, but all is not fine. and until 2010, every member of . The controversial 'trauma expert' interviewing Prince Harry: Gabor Mat was warned by the Canadian A big Beckham birthday! 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? Beginning in 1974, the auditors of the U.S. government's gold reserves held at Fort Knox, Ky., and at the U.S. Mint facilities in Denver, Colo., and West Point, N.Y. (which was named the West Point Bullion Depository from its opening in 1937 until it gained status as an official Mint in 1988), started a 10-year program to verify 100 percent of the gold reserves. Fort Knox was thrown open on that Monday afternoon for about 2 hours to some 150 reporters and glad-handing politicians, crowding narrow passageways and elbowing each other for a . Weve focused on the first audits of the gold stored by the US Mint. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. Between July 1983 and July 1985 the gold was audited in accordance with the plan approved by the Treasurer, as follows. The Congressional inspection adheres to the new open door policy of the government announced by President Ford. Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. Rep. Paul Calls for Gold Audit, Questions Whether Fort Knox Is Empty After 40 years, Fort Knox opens famed vault to civilians CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. Internal Review & Audit Compliance :: U.S. Army Fort Knox: Gold Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. Share this page: Army.mil. We will discuss the remaining 4 audit reports at once, as they are very similar. Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. The assayer is unknown and no assay reports have been included in the audit reports. Ideas, Gifts for 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. A second storage facility was built at the same time: . US Government Lost 7 Fort Knox Gold Audit Reports 'It's not even the annual funding level for some of our large departments in the federal government,' he said. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. Of course,strange things have been stored in the vault, like morphine and opiumduring the early '90s. By Everett Millman Gainesville Coins . One of last year's uproars was the decision by US officials to carry out an audit of these gold vaults. 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). 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. If we carefully read the scarce audit reports available to us, wenotice the audit procedures were revised in 1983. The last time that Congress audited it was 2019. Answer (1 of 2): Internally, it is done annually. This fits right into how the US government imposes audits on their official gold reserves; the audits are performed by the US government itself. The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . Not that it would be easy to even make it this far, but the door to the vault is made of steel and . To date,only one US president has been inside the vault - Franklin Delano Roosevelt, who served as president when the US Bullion Depositorywithin Fort Knoxwas established. The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. In 2011 it was portrayed as if KPMG currently is the third party auditor (next to the owner and custodian), but this is not true. PDF AUDIT REPORT - BullionStar The last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. 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 Ive found many anomalies that well discuss. These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. An excuse was needed to break the seals. US Mint Releases New Fort Knox "Audit Documentation": First Critical Fort Knox is Probably Empty, Gold Missing - Stillness in the Storm Fort Knox U.S. Gold Reserves to be Independently Audited and Assayed Former US Mint Director Clueless On Gold In Fort Knox - GoldSeek In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. Ron Paul wants gold at Fort Knox audited - Jun. 24, 2011 - CNNMoney I am glad to report that everything at the depository looked to be secure and in order. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. I did read one time that the queen of England a. 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. 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. 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. 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. The fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic. Kids, Gifts for 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 gold is held as an asset at a value of $42.22 per ounce. Government-owned Goldare not in our collection." The reports I did find, and are now publicly available, are: Coincidentally, or not, these reports are exactly the same ones as listed by Thorson at the congressional hearing in 2011 (exhibit 1, framed in red). In October 1984, 4,136,046.924 fine ounces gold was reaudited. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. At Fort Knox, we are about people - great service members, outstanding civilians . 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. Gold verification at Fort Knox March 1998, page 3. Lets have a look. Do you think it would be worthwhile, at least, to inventory and assay this portion of the Mint-held gold? Buy for Vault Storage in New Zealand 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!' We are no longer accepting comments on this article. Exhibit 7.1. . That shipment required a convoy of 33 15-ton trailers to move the gold. 312 tonnes of the total is 4 %. The results of the assays by Ledoux & Company and White Sands Missile Range presented by the OIG at the congressional hearing show nearly all 9999 fine gold (see exhibit 3, or read page 62 to 124 from this document). His visit was the one and only time a gold vault was opened for inspection for anyone other than authorized personnel. Fort Knox Gold - History of Fort Knox | BullionByPost In 1936, Fort Knox military base was chosen as the site to build a bullion depository to store this gold. 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. He ought to have known precisely how many pages were needed and presumably where to find them. The Treasury document says it would cost about $15 million to conduct an audit. 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. 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). 2023 DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. FORT KNOX MINE ICMC SUMMARY AUDIT REPORT . Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. More false statements by the auditor have appeared, further eroding its credibility. ( 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. 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. On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. 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. US Mint Releases New Fort Knox "Audit Documentation". The First Fort Knox facts. In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. Coins, Precious Kinross - Fort Knox Mine April 22nd, 2021 Signature of Lead Auditor Page 2 of 47 . GAO stands for General Accounting Office, OIG stands for Office of Inspector General. They could only find 2 reports I didnt posses previously, of the audits conducted in 1985 and 1986. Fort Knox Security: The Most Heavily Guarded Place - Reader's Digest . there has not been anyone allowed access to confirm the gold amounts that are supposedly stored at the Fort. 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.. Domestic and International Shipping from Singapore Determined to uncover more about the bullion stockpile, BullionStars Koos Jansen submitted a number of Freedom of Information Act (FOIA) requests to the U.S. Mint. Given the date range of your request 1975-1984, the nature of the report an annual audit of gold, and the fact that reports of similar type have been periodically published on the Internet, it is likely that copies and drafts of these reports are in the legal and physical custody of the Department of the Treasury. Revealed: The top 10 fastest-growing destinations for UK pensioners retiring overseas. Join FORT KNOX code Axykp! But theories exist regarding other possiblecontents of the vault -like the body of Jimmy Hoffa. More than half of the total reserves4,582.95 tonnes, or 147,341,870.463 fine troy ounces of goldare kept at Fort Knox, while more than 1,000 tonnes are stored at West Point and Denver each. 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 U.S. Government Spent Fort Knox GoldHundreds of Times In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. By Jennifer Liberto @ CNNMoney June 24, 2011: 11:58 AM ET. At its peak, 649.6 million ounces were stored at Fort Knox on December 31, 1941. Gold verification at Fort Knox March 1998, page 2. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. His advice to me was to try at the General Accounting Office (GAO) and National Archives for more reports. However, how trustworthy is this system of accounting? In another dubious mix-up, a number of measurements were faulty because the auditors misread where the decimal point was on the scale. previous, back to 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. 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. U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. 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. When will the Beast from the East be at YOUR door? . In August 2017, US Treasury Secretary Steve Mnuchinvisited the gold vault at Fort Knox and, along with a few other politicians, surveyed the site. Find out what Uber drivers really think of you! Royal Mint Launches First Coin in Myths and Legends Collection, Numismatic Crime Counterfeit Notes Sold Over Facebook, 1776 Continental Dollar Offered by David Lawrence Rare Coins, Grade This 1936-S Cincinnati Commemorative Silver Half Dollar, First King Charles III Coin From Pobjoy Celebrating the Accession, Dakota 1875 $5 Bank Note in Stacks Bowers Spring Auction. "Glad the gold is safe!". Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. American $1 Coins, SHOP The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." Fort Knox: "Glad Gold Is Safe!". For instance, sample sizes used for assaying were conspicuously small. Currently the Office Inspector General of the Treasury is responsible for the audits of the gold reserves at the US Mint. 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. At the hearing Thorson presented exhibits to support his case 100 % of the gold held at the US Mint has been audited. And the problem goes far beyond missing audit reports. According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! Koos Jansen. Coin Atthe congressional hearing in 2011 the IG stated to be 100 % certain all gold stored by the Mint was inventoried and audited, yet his department had accessto only a fraction (4) of all audit reports (13). Government-owned Gold, or my office, and placed under official joint seals. The last time Fort Knox had opened its vault to civilians was more than 40 years earlier. Welcome to the Coronation! No irregularities were found. On top of this, a decades worth (1993-2003) of Joint Seal inspections from the Denver and West Point depositories are not accounted for. While the order is not very detailed, in the years that followed the committee started auditing gold stored at the US Mint and at the Federal Reserve Bank of New York (FRBNY). The assayer is unknown and there was no assay report included in the audit report. 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 . By using our website, you accept that cookies are used. 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. 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. PDF Fort Knox, Kentucky - United States Army Prince Andrew chuckles as he encounters female jogger on way to his weekly Windsor horse-riding trip. 3. 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. Let me show you an example of Fort Knox. 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. 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. Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. Newborns, Gifts 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? Fort Knox | Military Base Guide 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 U.S. gold reserves at Fort Knox are broken into different numbered compartments within the gold vault. By also inviting the press to witness the Congressional inspection, the Mint is clearing away cobwebs and re-assuring the public that their gold is intact and safe. Did The Dutch Central Bank Lie About Its Gold Bar List? 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. Is There Really Any Fort Knox Gold - Historic Mysteries The comments below have not been moderated. Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . 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. Fort Knox Internal Review and Audit Compliance. Scales at the Mint used to weigh the bars often didnt work properly. 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. In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. The last full audit was done in 1953 . The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion. There Is No Proof All Gold Is In Fort Knox. Over 640,000,000 ounces of real money sat behind those massive locked doors. Mint Medals, Shop All Paper Fort Knox Gold: Myth or Reality? - jackhunt.com What the Hell is This?: Mnuchin Tweets on Fort Knox Gold 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. Medals, Email & So, what's really inside Fort Knox? All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? Is the Coin Market Sleeping on Fairmont Collection Gold Coins? Built in 1936, security access for the facility make it difficult to get access. for Dads, American Women's History Coins & 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). Fort Knox: "Glad Gold Is Safe!" - Miles Franklin The Great American Disaster: How Much Gold Remains In Fort Knox? I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself. Secretary of the Treasury Steven Mnuchin visited Fort Knox on August 21. One of the mostsecure andinaccessible places in the world, the facility once held the Declaration of Independence and Bill of Rights. 147.3 million ounces of gold is stored at Fort Knox. 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. The reports were not present at the National Archives, the OIG or at the Treasury Department. The assay tests found no irregularities. Us, ALL U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. 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.
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