The next screen shot is from the reply by the FOIA help desk on May 6, 2015. (in millions of ounces), SIGN UP FOR EMAIL UPDATES AND TEXT MESSAGE ALERTS ABOUT PRODUCTS. Compared to the samples taken in the 1950s and 60s, the standards for the integrity of the sample size had fallen sharply. 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). A separate post will be dedicated to KPMG. One of the mostsecure andinaccessible places in the world, the facility once held the Declaration of Independence and Bill of Rights. The Great American Disaster: How Much Gold Remains In Fort Knox? I shall rest here. BY . According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. A waiting list may be . 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. Questions: My FOIA request had disappeared, or did it? As will conclusions and speculation. Equal Employment Opportunity. 147.3 million ounces of gold is stored at Fort Knox. Mint Medals, Shop All Paper ', 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, 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. Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. He tweeted " Glad gold is safe! 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. Exhibit 7.3. Learn how your comment data is processed. When will the Beast from the East be at YOUR door? 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. More false statements by the auditor have appeared, further eroding its credibility. He ought to have known precisely how many pages were needed and presumably where to find them. Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. Are you already an expert in everything America? The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . when was the last time fort knox was audited No outside experts were allowed on the site for the audit, either,providingfodder for all kinds of conspiracy theorists. The gold at Fort Knox is stored in one of the most secure facilities in the world. Your request was received in this office on March 3, 2015 and assigned FOIA case number RD 45578. 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. The assay tests found no irregularities. In 1983 the OIG found out something was amiss with the audits performed 1974 1982. However, a Freedom Of Information Act request Ive submitted in order to obtain all audit reports could not be honored. The public may never know. Weve focused on the first audits of the gold stored by the US Mint. When I logged in at my account at the FOIA website, I saw my request had disappeared. initial 1974 Fort Knox audit which was conducted by GAO and Treasury auditors. In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). 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. In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. Each and every bar there should be assayed in a full, independent audit. 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. The audit announced, however, would include just 20% of the gold. 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. Official records claimed 20,000 tons in the 1950s. There Is Gold in Fort Knox | Newsmax.com Quoting from the 1981 report: Gold at the Federal Reserve Bank of New York is audited periodically by examiners of the Board of Governors of the Federal Reserve System, Members of the Committee for Continuing Audits of United States Government-owned Gold representing the Mint and BGFO observed the audits at the invitation of the Board and the Federal Reserve Bank. Thats 6 down, 7 more to go. Medals, Email & 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. . The coin bars topic, which ties together with the existence of the US official gold, deserves a thorough study to be expanded upon in a separate post. Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. 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 answer is, he cant. 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. After the Congressional inspection, the Bullion Depository will once again be closed to visitors. Kinross Gold Corporation's Fort Knox Mine Achieves Fifth Certification 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. We are no longer accepting comments on this article. The One "Audit" Of Fort Knox. Matt Bevin. Although the quality of the gold in the custody of the Federal Reserve Bank of New York cannot be readily assayed,. Buy for Vault Storage in New Zealand Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. Following the Second World War, with the United States emerging as the lone remaining superpower, the countrys gold holdings reached as high as 20,000 tonnes! Between 1933 and 1937, this increased . Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. A second storage facility was built at the same time: . 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). 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). As a freebie trip for 4 select political insiders, last Monday's trip to Fort Knox was undoubtedly a memorable one . Rep. Paul Calls for Gold Audit, Questions Whether Fort Knox Is Empty On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued. Koos Jansen is a precious metal analyst from the Netherlands. The reports were not present at the National Archives, the OIG or at the Treasury Department. Thank you for signing up with United States Mint! Bureau of Government Financial Operations [BGFO]. Share this page: Army.mil. Former US Mint Director Clueless On Gold In Fort Knox - GoldSeek 312 tonnes of the total is 4 %. 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. 4. According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! GAO stands for General Accounting Office, OIG stands for Office of Inspector General. Exhibit 7.2. Tuesday March 22, 2016 13:20. 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. We will discuss the remaining 4 audit reports at once, as they are very similar. 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. Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. At the hearing Thorson presented exhibits to support his case 100 % of the gold held at the US Mint has been audited. Welcome to the Coronation! Need Help? 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. *Its likely 97 % of the audited gold by the continuing audits committee has not been assayed by an independent assayer. 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? PDF AUDIT REPORT - BullionStar After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. US Government Lost 7 Fort Knox Gold Audit Reports A congressional delegation and some journalists got a look at the gold in 1974. Coin His advice to me was to try at the General Accounting Office (GAO) and National Archives for more reports. 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). However, as Ive written in my post Where Did The Gold In Fort Knox Come From? The last full audit was done in 1953 . Coins, Tours & Fort Knox is supposedly filled with 400 oz. 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. I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself. Us, ALL Maybe a room or two full of gold but the rest is gone. July 21, 2017 7:24AM. Ive found many anomalies that well discuss. Fort Knox is in Romeo (R) time. Is There Really Any Fort Knox Gold - Historic Mysteries Domestic and International Shipping from Singapore In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. Fort Knox Operation . Official joint seal number 932 put in place on September 2, 1982, under the continuing audits of U.S.-owned goldstored at the Mint. 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. There was no assay report included in the audit report. Fort Knox | fort, Kentucky, United States | Britannica Despite the fact that a 1953 Fort Knox audit found that 1977% of bullion tested was out of , in 2, we went to 1998% verified ingots. 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. Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . . 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. In addition to the gold bricks, Bevin said he got to hold a 1933 double eagle, a $20 gold coin that was never circulated. Your browser is out of date. In 1936, Fort Knox military base was chosen as the site to build a bullion depository to store this gold. That shipment required a convoy of 33 15-ton trailers to move the gold. Should America's Gold Reserves Be Audited? - Sound Money Defense Connecting thereto, from Thorsons opening statement: My office began conducting annual audits of the gold reserves in Fiscal Year 1993. 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. After writing it Ive been trying to collect all audit reports dating from1974 1986. Much of this newfound gold came into government coffers as a result of President Franklin Roosevelts executive order confiscating privately held gold in 1933. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . Gold verification at Fort Knox March 1998, page 1. 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. Answer (1 of 2): Who knows but it is rumored that the majority of the gold in Fort Knox no longer exists! The last Congressional visit prior to this occurredin 1974. previous, back to Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. Two months later I still got no response. Sets, Commemorative However, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. 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.
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