when was the last time fort knox was audited

Fort Knox Gold: Once upon a time, the Fort Knox Bullion Depository was a vast storehouse for American gold. We will discuss the remaining 4 audit reports at once, as they are very similar. Weve focused on the first audits of the gold stored by the US Mint. Maybe a room or two full of gold but the rest is gone. 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. Exhibit 2. Its glittering gold . The novel begins: 7:20 am, September 11, 2015. The public may never know. Compared to the samples taken in the 1950s and 60s, the standards for the integrity of the sample size had fallen sharply. *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. 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). *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. Shortly after I got an email that statedmy request had been received and was being processed. Exhibit 7.2. 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. In performing the audit, the gold bars are physically moved from one vault compartment to another. 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. About 000% of them were weighed. Why might the government entrust such inexperienced employees with this important task? Next was the GAO; unfortunately they couldnt deliver anything I was looking for. Bureau of Government Financial Operations [BGFO]. Ive found many anomalies that well discuss. But Bevin, speaking on WHAS radio, divulged a few more details. HOME; EVENTS; ABOUT; CONTACT; FOR ADULTS; FOR KIDS; accident on 9w marlboro, ny today Whos Supplying? It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). The last time that Congress audited it was 2019. On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued. Senator from Kentucky, where Fort Knox is located. A congressional delegation and some journalists got a look at the gold in 1974. (Back to top) CIVILIAN TIME MILITARY TIME CIVILIAN TIME MILITARY TIME 12:01 AM 0001 5:00 PM 1700 (Seventeen hundred) 5:00 AM 0500 10:00 PM 2200 10:00 AM 1000 (Ten hundred) 11:30 PM 2330 12:00 PM (Noon) 1200 12:00 AM . Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. The gold stored in these compartments would get moved around if samples were taken for assaying during the audit. From 1993 to 2008 the remaining 3 % of the gold reserves stored at the US Mint hasbeen audited I assume. 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. Bags, & Boxes, Code At this stage I havent been able to get my hands on any assay report from 1974 1986. ALL COIN PROGRAMS, National Purple Heart Hall of 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. Meanwhile I was fortunate to find the 1981 audit report at the website The Golden Sextant fromReg Howe. Coincidentally almost all the gold assayed by the OIG from 2004 2008 was 9999 fine. 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). Between 1933 and 1937, this increased . 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. Experts weigh in as tremors hit Wales, Cornwall and the Are YOU eating the right colours? The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. 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. At the congressional hearing of the Gold Transparency Act (H.R. Alaska, USA . 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. I personally believe that rumor and the bulk of it has been sold off to the rich elites. Circulating The BGFO and Mint staff was replaced by the OIG and the revised audit procedures were invented as a reason to open several compartments. 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). On the way to the vault, a literal mine field and an electric fence protectthe gold. Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. Buffalo Coins, American Eagle Then let's raise a glass to a slower, quieter 2022 . Kooss analysis of the procedures used found its rigor wanting in several key areas. Try Army A-Z. 'So many dead. 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. 'It's not even the annual funding level for some of our large departments in the federal government,' he said. Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. I left school at 16 with six GCSEs - and became a self-made millionaire. di 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). Several more examples of these blurry situations are shown in the released documents. On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. The process would take about 30 minutes to verify the gold content of each bar, or 350,000 man hours; to do that . The controversial 'trauma expert' interviewing Prince Harry: Gabor Mat was warned by the Canadian A big Beckham birthday! 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! One of the mostsecure andinaccessible places in the world, the facility once held the Declaration of Independence and Bill of Rights. 26 Feb 2017 13:18. 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. In June 1975 the Secretary of the Treasury authorized the continuing audits of the US owned gold stock. The Eisenhower Administration Conducted The Last Audit Of Fort Knox In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. The audit announced, however, would include just 20% of the gold. CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. Text Alerts, Contact Other problems sound laughable in their incompetence. While the gold at Fort Knox was partially audited in the past, the gold at the Federal Reserve Bank of New York was never looked at. Jansen is a longtime gold insider and journalist reporting on, for example, the goings-on of the incipient Shanghai Gold Exchange (SGE). 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. I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself. 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? 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. 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. Currently the Office Inspector General of the Treasury is responsible for the audits of the gold reserves at the US Mint. Fort Knox: "Glad Gold Is Safe!". Conclusion. Donald Trump Doesn't Think So. 213K subscribers in the Wallstreetsilver community. Are you already an expert in everything America? The assayer is unknown and there was no assay report included in the audit report. The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. Prince Andrew chuckles as he encounters female jogger on way to his weekly Windsor horse-riding trip. Page Last Modified: 8/26/19, 2:56 PM Fort Knox, KY. Our Nation's Gold Standard Army Home. Do you think it would be worthwhile, at least, to inventory and assay this portion of the Mint-held gold? document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. 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). U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. In an audit conducted at Fort Knox in 1953, 88 ingots were counted for verification. His advice to me was to try at the General Accounting Office (GAO) and National Archives for more reports. Fort . 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. 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). 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. Domestic and International Shipping from Singapore He also mentioned that despite this being the first visit by a group of politicians and journalists to Fort Knox since 1974 - he was the first serving Treasury Secretary to visit since 1948. 147.3 million ounces of gold is stored at Fort Knox. If we carefully read the scarce audit reports available to us, wenotice the audit procedures were revised in 1983. but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . Buy, ship and store bullion with BullionStar in/from different countries. & Medal Programs, Tours It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. when was the last time fort knox was audited. During fiscal year 1986, gold was audited at the West Point Bullion Depository, and the San Francisco Old Mint under the initial continuing audit program. The gold at Fort Knox is stored in one of the most secure facilities in the world. U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. GAO stands for General Accounting Office, OIG stands for Office of Inspector General. . And the problem goes far beyond missing audit reports. The last time anyone had access to inspect the deposits was on September 23, 1974. . Part One, all golden coins that circulated in the US before 1933 could not have supplied the US official gold reserves to the extent Mr Moy has stated. All your favorite.50 games all in one club! eonon change home screen. The One "Audit" Of Fort Knox. By using our website, you accept that cookies are used. 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. An excuse was needed to break the seals. 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 . A separate post will be dedicated to KPMG. Lets recap what weve studied in the previous posts. ', 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. 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. 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. 1126, San Diego, CA, 92128, USA . And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians.