Between 1933 and 1937, this increased . 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 . 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. 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. Circulating Ron Paul worries Fort Knox gold is gone. As required under the Cyanide Code, the mine was again audited against ICMI's Verification Protocol by independent professional third-party auditors within three . The assayer is unknown and there was no assay report included in the audit report. It was obvious that some of the records were missing (or not provided). Why havent we ever seen any assays of coin bars? For instance, sample sizes used for assaying were conspicuously small. 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. Not that it would be easy to even make it this far, but the door to the vault is made of steel and . In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. 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. 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. Save my name, email, and website in this browser for the next time I comment. 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. Buy for Vault Storage in New Zealand The fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic. Then, something very strange happened in 1983. Republican frontrunner Donald Trump hinted at the idea that there just might be no gold in the U.S. All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? 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. Pursuant to that order, the Committee for Continuing Audit of the U.S. In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). 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. Official records claimed 20,000 tons in the 1950s. Engraved Prints, Shop All Gift The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . If official documents come to surface I will report accordingly. 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. Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. Do you think it would be worthwhile, at least, to inventory and assay this portion of the Mint-held gold? The assayer is unknown and there was no assay report included in the audit report. Ron Paul introduced a bill that would require the Fed to manually audit every U.S.-owned gold . Dollars, Native Coins, American Daily free rolls! Medals, Treasury and 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 2004 the assayer was Ledoux & Company, a private contractor (read their homepage). At this stage I havent been able to get my hands on any assay report from 1974 1986. Other problems sound laughable in their incompetence. The first screen shots below are from a gold verification at Fort Knox in March 1998. Shortly after I got an email that statedmy request had been received and was being processed. The controversial 'trauma expert' interviewing Prince Harry: Gabor Mat was warned by the Canadian A big Beckham birthday! Currency, Shop All Tuesday March 22, 2016 13:20. The US official gold reserves are the worlds greatest by far at 8,134 metric tonnes. 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. . In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. Try Army A-Z. The BGFO and Mint staff was replaced by the OIG and the revised audit procedures were invented as a reason to open several compartments. 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. However, no outside experts were allowed in during the audit, and only about 5% of the gold was actually tested. . 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. Did audit reveal missing gold . In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. Ideas, Gifts for . Inside the famed vaults at Fort Knox, Senate Majority Leader Mitch McConnell held a 27-pound gold bar in his hands Monday as part of the first civilian delegation to see most of the country's bullion reserves in more than 40 years. 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 asked the experts - and their answers will terrify you Public Service Announcement, do NOT watch these ads! The OIG audited 3 % from 1993 2008. The assay tests found no irregularities. Senator from Kentucky, where Fort Knox is located. 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 . Kids, Gifts for Equal Employment Opportunity. In October 1984, 4,136,046.924 fine troy ounces of gold were reaudited at the United States Mint, Denver. By Jennifer Liberto @ CNNMoney June 24, 2011: 11:58 AM ET. Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. So, what's really inside Fort Knox? Us, ALL 3. 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). 1126, San Diego, CA, 92128, USA . For the first time photographing is being permitted inside the Depository.. About 000% of them were weighed. July 1986 12,477,777.638 [this number Icopied from the 1986 report]. Submitted to: . Great! www.smartaccess.us . 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). Upload by MysteryManagement Fort Knox and the gold dipped tungsten bars - Michael Rivero showAre the gold bars in Fort Knox really made of the precious metal. As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. Treasury Secretary William E. Simon issued the invitation to Congressmen to inspect the gold at Fort Knox. Thats 6 down, 7 more to go. Metal Coins, back to Mint Medals, Shop All Paper $800 weekly hand count free roll. Presidential Coins, Kennedy Half 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 . 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. Talkers Medals, Military 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. More than half of . The public may never know. The New Year kicked off . Tiger Woods unleashes his lawyers on porn site after it Bannon is 'going to war' against Jared, 'crying Ivanka' and A whole hue world! Others claim the goldis actually justtungsten bricks painted to look like the precious metal. 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. Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it's "a possibility" that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank. When thinking about these re-audits, threescenarios pop to mind: Why else wouldso much gold have been re-audited? 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. The novel begins: 7:20 am, September 11, 2015. Fort Knox Operation . 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. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. Honor, Rolls, Weve focused on the first audits of the gold stored by the US Mint. 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. 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. Shipping within New Zealand. I decided to send an email to the FOIA online Help Desk to ask what happened to my request. Share this page: Army.mil. Fort Knox is used to store a large portion of United States official gold reserves and occasionally other precious . The First Critical Observations. 'The gold is safe.'. Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. 213K subscribers in the Wallstreetsilver community. No irregularities were found. Currently the Office Inspector General of the Treasury is responsible for the audits of the gold reserves at the US Mint. 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. Not only were the vault compartments at the FRBNY exempt from being sealed, in addition, for an unknown reason assay tests were never performed at the FRBNY! Fort Knox Internal Review and Audit Compliance. Alaska, USA . Part of the Daily Mail, The Mail on Sunday & Metro Media Group. 147.3 million ounces of gold is stored at Fort Knox. As weve seen thus far there are many problems with the official story everything is fine, all the US official gold reserves all audited. One of last year's uproars was the decision by US officials to carry out an audit of these gold vaults. Several more examples of these blurry situations are shown in the released documents. " He told an audience in Louisville, "I assume the gold is still there.". All the golden coins that were handed in supposedly accumulated to the greatest gold pile on earth. According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. when was the last time fort knox was audited. 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. The answer is, he cant. A second storage facility was built at the same time: . 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. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. On top of this, a decades worth (1993-2003) of Joint Seal inspections from the Denver and West Point depositories are not accounted 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. Hisstatement 100 percent of the U.S. Governments gold reserves in the custody of the Mint has been inventoried and audited is impossible to confirm, as well see later on. An excuse was needed to break the seals. ( 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. He said this, but there is no proof. In addition to the gold bricks, Bevin said he got to hold a 1933 double eagle, a $20 gold coin that was never circulated. Interactive map reveals when you may see SNOW. 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?' Same story at the US Mint and US National Archives. I personally believe that rumor and the bulk of it has been sold off to the rich elites. 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. Koos Jansen is a precious metal analyst from the Netherlands. The Treasury document says it would cost about $15 million to conduct an audit. 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. The last time that Congress audited it was 2019. 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. 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. PBOC Gold Purchases: Separating Facts from Speculation. 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). As will conclusions and speculation. eonon change home screen. Koos Jansen. You may consider submitting a FOIA request directly to the Treasury Department. A congressional delegation and some journalists got a look at the gold in 1974. And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians. I have copied as much quotes in this post as I can to minimize the possibility of an erroneous interpretation of the official text in the audit reports. Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, U.S. We will discuss the remaining 4 audit reports at once, as they are very similar. 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. 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. Each and every bar there should be assayed in a full, independent audit. Secretary Mnuchin's statements were not helpful. Welcome to the Coronation! Is the Coin Market Sleeping on Fairmont Collection Gold Coins? 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. CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. By Patrick A. Heller. But by 1986, you had 97 percent was audited. No need to read about these fascinating facts and important events that have shaped the U.S. as we know it today. but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . noting that it was "over 20 years" since the last one. Find out what Uber drivers really think of you! A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . The Eisenhower Administration Conducted The Last Audit Of Fort Knox. In June 1975, the Treasury Secretary authorized and directed a continuing audit of U.S. Meanwhile I was fortunate to find the 1981 audit report at the website The Golden Sextant fromReg Howe. 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. Whos Supplying? More from 1981 report: The continuing audit is being conducted on a cyclical basis because of the enormous quantity of gold to be handled and the related costs. Newborns, Gifts Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. Answer (1 of 2): Who knows but it is rumored that the majority of the gold in Fort Knox no longer exists! The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. 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! More false statements by the auditor have appeared, further eroding its credibility. *Its likely 97 % of the audited gold by the continuing audits committee has not been assayed by an independent assayer. There Is No Proof All Gold Is In Fort Knox. Liberty, Bush Bureau of Government Financial Operations [BGFO]. 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). previous, back to Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. 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. After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. Site, Coin 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. After the Congressional inspection, the Bullion Depository will once again be closed to visitors. 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. I also want to assure you that the physical security over the gold reserves is absolute. random nose bleed covid. 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. Exhibit 7.3. Learn how your comment data is processed. Built in 1936, security access for the facility make it difficult to get access. Kinross - Fort Knox Mine April 22nd, 2021 Signature of Lead Auditor Page 2 of 47 . Published: 22:22 GMT, 21 August 2017 | Updated: 06:57 GMT, 22 August 2017, Honored guests: Treasury Secretary Steve Mnuchin (left) and Senate Majority Leader Mitch McConnell (right) outside the main door to the United States Bullion Depository at Fort Knox on Monday. ', 'I assume the gold is still there,' he said. On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued. Need Help? He tweeted " Glad gold is safe! When the mint finally produced the audit documentation, Jansen received 134 lightly redacted pages (rather than the estimated total of 1,200 pages). 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 last time anyone had access to inspect the deposits was on September 23, 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. di The assayer is unknown and no assay reports have been included in the audit reports. What his dogged FOIA requests have failed to reveal, unfortunately, is anything that would put the questions about the Fort Knox gold to rest. Coin Did The Dutch Central Bank Lie About Its Gold Bar List? The auditors were bored and decided to re-audit 1,700 tonnes. Not only were Kooss requests met with a reluctant response from government officials, but the mint claimed it would have to spend countless labor hours searching through dozens of boxes for hundreds of pages that might be what Koos was looking for: the annual gold audit records that were carried out between 1993 and 2008.