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Review of US Bullion Depository (Fort Knox) gold audits - plenty of random nose bleed covid. A movie producer before becoming treasury secretary, Mnuchin told a group of Louisville business leaders earlier in the day it was important for him to see the gold to attest that 'it is part of our national assets. 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. when was the last time fort knox was audited 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. ByI forget which date it was, I believe by 1986, wehold on just one second here, I got it. 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). Kinross Gold Corporation's Fort Knox Mine Achieves Fifth Certification In 1983 the OIG found out something was amiss with the audits performed 1974 1982. I'm a vet, and here are five dog breeds most prone to cancer - including Golden Retrievers and Rottweilers. 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. ', 'All I will say is that it is freakishly well secured,' he said. Shortly after I got an email that statedmy request had been received and was being processed. It was a magnificent golden sunrise that inspired visions of glory, wealth, and beauty. www.smartaccess.us . In 2011, the U.S. Treasury's full detailed schedules of gold bars were published by the US House Committee on Financial Services as part of submissions for its hearing titled "Investigating the Gol. Who was the last person to actually see the gold in Fort Knox? Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. The assayer is unknown and there was no assay report included in the audit report. All your favorite.50 games all in one club! By using our website, you accept that cookies are used. Thats everything we have, or are aware of. "good delivery" bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong. The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product. Vault: Rare look inside gold vault at Fort Knox - WCPO At this stage I havent been able to get my hands on any assay report from 1974 1986. By Patrick A. Heller. Based on glaring conflicts among the Treasury's own documents, this staggering amount of gold disappeared without a trace from 1961 to 1971. . Official joint seal number 932 put in place on September 2, 1982, under the continuing audits of U.S.-owned goldstored at the Mint. As a result, the gold at the Bank [FRBNY] is considered unaudited. 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). Test yourself with this Cockney Rhyming Slang quiz. Exhibit 7.3. 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. . And there is more, a lot more. No photographs were allowed, of course. & Sales Figures. Although gold bars tested to be out of tolerance during a Fort Knox audit in 1977 at a sample size of 2 %, by 1998 the sample size had been further debased to 0.53 %. As a freebie trip for 4 select political insiders, last Monday's trip to Fort Knox was undoubtedly a memorable one . In 1974, after the US closed the gold window, congressional support grew for inquiring into the US gold stock. Fort Knox: "Glad Gold Is Safe!". 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. President Reagan last spring demanding that this be looked into immediately. There was no assay report included in the audit report. My assumption is, these assays from 2004 2008 are all assays authorized by the OIG from 1993 2008 and therefor cover 3 % of the gold stored at the US Mint. Why havent we ever seen any assays of coin bars? 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 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. 4. Contact Us. Doubts About America's Official Gold Holdings: The US Gold Reserve An excuse was needed to break the seals. Did audit reveal missing gold . 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. 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. noting that it was "over 20 years" since the last one. U.S. President Franklin D. Roosevelt passed legislation outlawing private ownership of gold, and gave instruction to build the depository at . However, a Freedom Of Information Act request Ive submitted in order to obtain all audit reports could not be honored. 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. There was nothing left to do but submit a Freedom Of Information Act (FOIA) request. 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). My FOIA request had disappeared, or did it? Moreover, it showed a number of (at best) inconsistencies in how the mint conducts its bullion inspection for auditing purposes. 3. The gold stored in these compartments would get moved around if samples were taken for assaying during the audit. The vault can withstand guns, blowtorches, and other incendiary devices. HOME; EVENTS; ABOUT; CONTACT; FOR ADULTS; FOR KIDS; accident on 9w marlboro, ny today The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. 2023 DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. We asked the experts - and their answers will terrify you Public Service Announcement, do NOT watch these ads! Answer (1 of 2): Internally, it is done annually. (in millions of ounces), SIGN UP FOR EMAIL UPDATES AND TEXT MESSAGE ALERTS ABOUT PRODUCTS. Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. The Great American Disaster: How Much Gold Remains In Fort Knox? Page Last Modified: 8/26/19, 2:56 PM Fort Knox, KY. Our Nation's Gold Standard Army Home. 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. Domestic and International Shipping from Singapore Small quantities of gold are removed to test the purity during regularly scheduled audits. The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. No need to read about these fascinating facts and important events that have shaped the U.S. as we know it today. 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. The other two-thirds, however, have not been inventoriedthat is according to my understandingor assayed since somewhere between 1975 and 1986. The process would take about 30 minutes to verify the gold content of each bar, or 350,000 man hours; to do that . 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. Lets recap what weve studied in the previous posts. Next, we can see Thorsons list he presented of physical gold audit reports of the continuingaudit program from 1974 to 1986. Need Help? More than half of . Mnuchin's Visit to Fort Knox l JM Bullion According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! From 1993 to 2008 the remaining 3 % of the gold reserves stored at the US Mint hasbeen audited I assume. For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. 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. However, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. US Mint Releases New Fort Knox Audit Documentation. In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. Is Gold in Fort Knox Real? Ron Paul Wants to Know - CNBC 1126, San Diego, CA, 92128, USA . Conclusion. . Ideas, Gifts for The answer is, he cant. This fits right into how the US government imposes audits on their official gold reserves; the audits are performed by the US government itself. Facilities, Production PDF Fort Knox, Kentucky - United States Army The U.S. Government Spent Fort Knox GoldHundreds of Times U.S. Government Lost 7 Fort Knox Gold Audit Reports Us, ALL Fort Knox and The Missing Gold! - Strange Unexplained Mysteries 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. Fort Knox is used to store a large portion of United States official gold reserves and occasionally other precious . "We have approximately $200 billion of gold at Fort Knox," said Mnuchin. 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!' Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. More anomalies with regard to the audits of the US official gold reserves will be discussed in forthcoming posts. He said this, but there is no proof. He tweeted " Glad gold is safe! Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. The auditors were bored and decided to re-audit 1,700 tonnes. His visit was the one and only time a gold vault was opened for inspection for anyone other than authorized personnel. I shall rest here. A second storage facility was built at the same time: . This effort to audit the Fort Knox gold, the Federal Reserve, and its policies toward gold is now carried on by the younger Paul, Rand, who currently serves as a U.S. It's going on right now as I say these words. 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. 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. Engraved Prints, Shop All Gift $800 weekly hand count free roll. Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. Monetary Gold Stock of the United States Share this page: Army.mil. Over 640,000,000 ounces of real money sat behind those massive locked doors. 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. Buffalo Coins, American Eagle Fort Knox Is So Mysterious And Heavily Guarded, Only One US President ( 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. Other problems sound laughable in their incompetence. 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. *In 1977, presumably, one bar in every fiftieth melt (one melt is approximately 20 bars) was assayed, irregularities were found in two melts, the vault had to be opened twice more in the presence of the Joint Sealing Committee and the gold reevaluated. In 1977 the New York assay office, which is a subsidiary of the US Mint, conducted the assays. 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. Kooss analysis of the procedures used found its rigor wanting in several key areas. . 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. 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. 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 official story from OIG is that 100 % of the gold stored at Fort Knox was audited in between 1974 and 1986, . 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). Inspection of Gold at Fort Knox | U.S. Mint - United States Mint In October 1984, 4,136,046.924 fine ounces gold was reaudited. With regardto my quest for all reports, lets have a look what US government departments could not deliver whatI was looking for: First was the Counsel to the Inspector General Department of the Treasury. 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. Fort Knox | fort, Kentucky, United States | Britannica 'It just kind of came up as a result of a casual conversation,' McConnell said. Between 1933 and 1937, this increased . I also want to assure you that the physical security over the gold reserves is absolute. Fort Knox Gold: Once upon a time, the Fort Knox Bullion Depository was a vast storehouse for American gold. 211 votes, 25 comments. Prince Andrew chuckles as he encounters female jogger on way to his weekly Windsor horse-riding trip. He attempted to pinpoint how the Treasury Department verifies that the gold in its vault is both present and real. 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. 12/ As of September 30, 1984, 99.9 percent of the gold stored at the United States Denver Mint had been audited under the initial continuing audit program. 97 percent of the gold was checked and sealed in an audit that ended in 1986, and annual partial audits by a third-party accounting firm continued after that, he said. Several more examples of these blurry situations are shown in the released documents. Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . The New Year kicked off . Ive found many anomalies that well discuss. Furthermore, these audits found no exceptions of any consequence. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. Audit report Fort Knox 1981. The First Critical Observations. ', 'I assume the gold is still there,' he said. Buy, ship and store bullion with BullionStar in/from different countries. In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. Fort Knox U.S. Gold Reserves to be Independently Audited and Assayed However, if that intruder had turned to the west he would have . 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 Eisenhower Administration Conducted The Last Audit Of Fort Knox. It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). 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). When thinking about these re-audits, threescenarios pop to mind: Why else wouldso much gold have been re-audited? So, what's really inside Fort Knox? For instance, sample sizes used for assaying were conspicuously small. Telephone: (502) 624-2386. 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. 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. there has not been anyone allowed access to confirm the gold amounts that are supposedly stored at the Fort. There can be no world reserve currency without appropriate gold reserves supporting it, providing essential confidence and credibility. Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. However, there has been considerable doubt over the years as to whether the depository actually held any gold. Should America's Gold Reserves Be Audited? - Sound Money Defense US Official Gold Reserves Auditor Caught Lying - Substack Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. The First Critical Observations. A barrel is worth about $1,200 or $2.88 per pound which is 10-18 times the value of U.S. crude oil. 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. The Mint estimated that as much as one-third of the gold reserves were examined during this period. I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself. 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). RSS Feeds . 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? 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. 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. "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". Two months later I still got no response. 'It's not even the annual funding level for some of our large departments in the federal government,' he said. When the mint finally produced the audit documentation, Jansen received 134 lightly redacted pages (rather than the estimated total of 1,200 pages). & Medal Programs, Tours On this sheet 5 physical gold audit reports are listed, framed in red. Liberty, Bush The reports were not present at the National Archives, the OIG or at the Treasury Department. Only One President Has Ever Been Inside Fort Knox Why Is It - Ranker 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). China Gold Import Jan-Sep 797t. US Mint Releases New Fort Knox "Audit Documentation". The First