Welcome to the Coronation! From the 1985 report: 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. On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. 213K subscribers in the Wallstreetsilver community. The First Critical Observations. Bear in mind that another FOIA request for internal email correspondence relating to the initial inquiries revealed that the official who provided this exaggerated estimate of how difficult the task of producing the documents would be was an auditor himself and among the authors of the documents that Jansen sought in the first place! In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). 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. 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. & Facilities, Shop All Fort Knox Gold: Once upon a time, the Fort Knox Bullion Depository was a vast storehouse for American gold. Instead, I was advised to contact the Treasury. Former US Mint director Edmund Moy has stated in 2013 US reserves contain mainly coin bars because of the great confiscation in 1933 by President Roosevelt, when US citizens were forced to hand in all physical gold. One wonders: was this a simple oversight or some kind of conscious obfuscation effort? Kids, Gifts for 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. Same story at the US Mint and US National Archives. Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. 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). Shortly after I got an email that statedmy request had been received and was being processed. The assayer is unknown and there was no assay report included in the audit report. Located in Kentucky, Fort Knox is a United States Army base whichhouses most of the US's gold reserves. The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . ByI forget which date it was, I believe by 1986, wehold on just one second here, I got it. The First Critical Observations", February 2017. It was decided to destroy several audit and assay reports and no less than 1,700 tonnes needed to be re-audited. Answer (1 of 2): Internally, it is done annually. In the 1980 report we can read the audit procedures and a few other snippets (well quickly jump through) that help us understand how and where the audits were conducted: Audit procedures included (1) inspecting the joint audit committee seals used to control compartments containing previously audited gold; (2) comparing the records for each compartment inventoried to the identifying information on the gold bars; (3) weighing, from each compartment inventoried, at least one randomly selected melt in each fifty melts (a melt, averages about 20 bars cast from one crucible of molten gold); (4) removing samples from a bar in each of the melts weighed and having the samples assayed; (5) verifying the mathematical accuracy of all inventory records; (6) verifying the inventoried gold to the institutions records; (7) verifying the quantities shown by the institutions records to the control accounts for gold maintained by the Bureau of the Mint and to the central accounts maintained by BGFO; (8) placing audited gold bars in compartments under Official Joint Seal and audit committee control; and (9) reviewing and evaluating internal controls and security procedures. Several more examples of these blurry situations are shown in the released documents. Buffalo Coins, American Eagle These CDCs offer full-day care, part-day, and hourly care. The assayer is unknown and no assay reports have been included in the audit reports. However, a Freedom Of Information Act request Ive submitted in order to obtain all audit reports could not be honored. 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. In an interview, McConnell said he could not say much about the visit for security reasons. Do you think it would be worthwhile, at least, to inventory and assay this portion of the Mint-held gold? Others claim the goldis actually justtungsten bricks painted to look like the precious metal. "good delivery" bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong. Thats 6 down, 7 more to go. Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. The Gold-Backed-Oil-Yuan Futures Contract Myth, Estimated Chinese Gold Reserves Surpass 20,000t. He attempted to pinpoint how the Treasury Department verifies that the gold in its vault is both present and real. 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? We are no longer accepting comments on this article. In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. random nose bleed covid. 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. Government-owned Gold, or my office, and placed under official joint seals. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. Here is a rundown of some of Kooss key findings. 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. 'So many dead. 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. 4. Thank you for signing up with United States Mint! 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. The assay tests found no irregularities. That shipment required a convoy of 33 15-ton trailers to move the gold. Save my name, email, and website in this browser for the next time I comment. 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. Even then only 5% of the examined bullion was weighed and assayed to determine its purity. The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion. If official documents come to surface I will report accordingly. Domestic and International Shipping from Singapore Jansen found instances in which the Treasurys auditors failed to follow the governments own procedures for the auditing process. 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. HOME; EVENTS; ABOUT; CONTACT; FOR ADULTS; FOR KIDS; accident on 9w marlboro, ny today After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. Secretary Mnuchin's statements were not helpful. Honor, Rolls, More false statements by the auditor have appeared, further eroding its credibility. 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. US citizens were required to sell their gold bullion - bars and coins - back to the State. Need Help? Koos Jansen is a precious metal analyst from the Netherlands. As a freebie trip for 4 select political insiders, last Monday's trip to Fort Knox was undoubtedly a memorable one . In the meantime I will fire several new FOIAs at the Office of the Inspector General and others. Fort Knox sits on over 100,000 acres and houses 30,000 military personnel. Fort Knox, Kentucky is an Army base with more than one hundred thousand acres stretching across three counties. Are you already an expert in everything America? The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. Republican frontrunner Donald Trump hinted at the idea that there just might be no gold in the U.S. Cookies are also used for the purpose of handling our system and services. Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. Answer (1 of 2): Who knows but it is rumored that the majority of the gold in Fort Knox no longer exists! 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. An excuse was needed to break the seals. 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? 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. The public may never know. The audit will be performed by a committee of auditors from the U.S. General Accounting Office (GAO) and the Department of the Treasury. In performing the audit, the gold bars are physically moved from one vault compartment to another. Submitted to: . I personally believe that rumor and the bulk of it has been sold off to the rich elites. 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. He tweeted " Glad gold is safe! There can be no world reserve currency without appropriate gold reserves supporting it, providing essential confidence and credibility. Sevenreports are missing. It was a magnificent golden sunrise that inspired visions of glory, wealth, and beauty. 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. 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. 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. Tuesday March 22, 2016 13:20. & Medal Programs, Tours 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. And the problem goes far beyond missing audit reports. 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. As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. Moreover, it showed a number of (at best) inconsistencies in how the mint conducts its bullion inspection for auditing purposes. Did audit reveal missing gold . Your browser is out of date. Ron Paul introduced a bill that would require the Fed to manually audit every U.S.-owned gold . Reversal of this policy on a one time only basis came as a result of a series of peculiar events that resulted in a congressional demand for an audit of the bullion depository, and a first-hand viewing of the gold deposited there. Medals, Email & 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. Buy for Vault Storage in the United States . When will the Beast from the East be at YOUR door? 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. Then let's raise a glass to a slower, quieter 2022 . & Sales Figures. Small quantities of gold are removed to test the purity during regularly scheduled audits. Contact Us. The last time Fort Knox had opened its vault to civilians was more than 40 years earlier. ( 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. 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 . It basically coveredby 1986, 97 percent of the Government-owned gold held by the Mint had been audited and placed under joint seal. However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. The process would take about 30 minutes to verify the gold content of each bar, or 350,000 man hours; to do that . when was the last time fort knox was audited. . 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. 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. Approximately half the U.S. Treasury's gold is located in the storage facility at Fort Knox The last time that Congress audited it was 2019. The gold is held as an asset at a value of $42.22 per ounce. The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." 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. "Glad the gold is safe!". The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. His visit was the one and only time a gold vault was opened for inspection for anyone other than authorized personnel. Representative Alex Mooney (R . 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. 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. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. The Mint and the GAO were sanctioned to audit a portion of the Treasury's gold. Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. You may consider submitting a FOIA request directly to the Treasury Department. 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). 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. 211 votes, 25 comments. 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. The assayer is unknown and there was no assay report included in the audit report. 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 US official gold reserves are the worlds greatest by far at 8,134 metric tonnes. Official joint seal number 932 put in place on September 2, 1982, under the continuing audits of U.S.-owned goldstored at the Mint. The assay tests found no irregularities. 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. 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. 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. BY . We will discuss the remaining 4 audit reports at once, as they are very similar. Exhibit 7.3. Coins, Tours & Military/Civilian clock Examples of Civilian/Military time conversion. Buy, ship and store bullion with BullionStar in/from different countries. 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. *For all other publicly available audit reports (1980, 1981, 1985, 1986) its very briefly mentioned assay tests were conducted, presumably for one in every fiftieth melt. COIN & MEDAL PROGRAMS, History of U.S. *Its likely 97 % of the audited gold by the continuing audits committee has not been assayed by an independent assayer.

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