when was the last time fort knox was audited when was the last time fort knox was audited

Learn how your comment data is processed. On top of this, a decades worth (1993-2003) of Joint Seal inspections from the Denver and West Point depositories are not accounted for. 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. Between 1933 and 1937, this increased . Metal Coins, back to 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. ', 'I assume the gold is still there,' he said. Submitted to: . Join FORT KNOX code Axykp! In an interview, McConnell said he could not say much about the visit for security reasons. Built in 1936, security access for the facility make it difficult to get access. Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, U.S. Gold verification at Fort Knox March 1998, page 3. ByI forget which date it was, I believe by 1986, wehold on just one second here, I got it. Why might the government entrust such inexperienced employees with this important task? Approximately half the U.S. Treasury's gold is located in the storage facility at Fort Knox The target this time is the United States Treasury Assay Office in New York . eonon change home screen. At Fort Knox, we are about people - great service members, outstanding civilians . 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. 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. More false statements by the auditor have appeared, further eroding its credibility. 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). for Dads, American Women's History Coins & United States Mint All Rights Reserved. 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). document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. The process would take about 30 minutes to verify the gold content of each bar, or 350,000 man hours; to do that . Others claim the goldis actually justtungsten bricks painted to look like the precious metal. 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. Fort Knox is also on the list of these 10 forbidden places that no one is ever allowed to visit. Try Army A-Z . Ron Paul introduced a bill that would require the Fed to manually audit every U.S.-owned gold . The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. Part One, We use cookies to enhance the user experience and to analyse traffic. Experts weigh in as tremors hit Wales, Cornwall and the Are YOU eating the right colours? Site, Coin Next was the GAO; unfortunately they couldnt deliver anything I was looking for. And the problem goes far beyond missing audit reports. Buy for Vault Storage in the United States It's going on right now as I say these words. 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. So, what's really inside Fort Knox? 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. Bureau of Government Financial Operations [BGFO]. The only audit that has ever been done of the gold inside Ft Knox was done days after Dwight Eisenhower became President in January of 1953. 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. 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. Your request was received in this office on March 3, 2015 and assigned FOIA case number RD 45578. When thinking about these re-audits, threescenarios pop to mind: Why else wouldso much gold have been re-audited? Company Registration No. Gold verification at Fort Knox March 1998, page 2. By Everett Millman Gainesville Coins . Circulating 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. Fort Knox Gold: Once upon a time, the Fort Knox Bullion Depository was a vast storehouse for American gold. Even then only 5% of the examined bullion was weighed and assayed to determine its purity. 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. The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . From 1993 to 2008 the remaining 3 % of the gold reserves stored at the US Mint hasbeen audited I assume. 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. In 1936, Fort Knox military base was chosen as the site to build a bullion depository to store this gold. The Fort Knox Mine was initially certified in full compliance with the Cyanide Code in February 2008 and was recertified in September 2011, in February 2015, and in August 2018. The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. 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. We are no longer accepting comments on this article. "Glad the gold is safe!". The Treasury document says it would cost about $15 million to conduct an audit. The gold stored in these compartments would get moved around if samples were taken for assaying during the audit. Tuesday March 22, 2016 13:20. This is largely due to a well-circulated rumor during the 1970s that the vaults had been emptied by elites in banking in government, either leased out or confiscated. Fort Knox Policies. Fort . Alaska, USA . 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. 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?' 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. As weve seen thus far there are many problems with the official story everything is fine, all the US official gold reserves all audited. Shipping within New Zealand. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. The Armored Force School and the Armored Force Replacement Center began operations at Fort Knox in October 1940. They could only find 2 reports I didnt posses previously, of the audits conducted in 1985 and 1986. I doubt an attempt to submitting a FOIA request directly to the Treasury Department will bring me anything; likely it will be a waste of time as I had already contacted all possible government departments separately, which could not deliver me the reports I was looking for despite none of them was unwilling to help me. 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. 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. Miles Franklin sponsored this article by Gary Christenson.The opinions are his, and they are not investment advice. . Ive found many anomalies that well discuss. Thats 6 down, 7 more to go. Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. Cookies are also used for the purpose of handling our system and services. Fort Knox Internal Review and Audit Compliance. 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! 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. 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. Between July 1983 and July 1985 the gold was audited in accordance with the plan approved by the Treasurer, as follows. Is the Coin Market Sleeping on Fairmont Collection Gold Coins? You can change the usage of cookies in your browser. Coincidentally almost all the gold assayed by the OIG from 2004 2008 was 9999 fine. 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. when was the last time fort knox was audited. It seems that a portion of the Mint and the U.S. gold reserves were audited in an assay between 1993 and 2008, as you acknowledged. ', 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. These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. There was nothing left to do but submit a Freedom Of Information Act (FOIA) request. Fort Knox history. 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. Did The Dutch Central Bank Lie About Its Gold Bar List? Coin No outside experts were allowed on the site for the audit, either,providingfodder for all kinds of conspiracy theorists. Since there are far too many gold bars to count at once, the audit is carried out piecemeal and only small samples are taken for assaying. These CDCs offer full-day care, part-day, and hourly care. He attempted to pinpoint how the Treasury Department verifies that the gold in its vault is both present and real. Your browser is out of date. Equal Employment Opportunity. 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. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. No photographs were allowed, of course. US citizens were required to sell their gold bullion - bars and coins - back to the State. Prince Andrew chuckles as he encounters female jogger on way to his weekly Windsor horse-riding trip. When will the Beast from the East be at YOUR door? And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians. In 1974, after the US closed the gold window, congressional support grew for inquiring into the US gold stock. Select stock location for your desired country in the dropdown to view our inventory available in that country. Daily free rolls! On February 25, 2015, I submitted a FOIA request in orderto obtain the audit reports drafted by the Continuing Audits Of U.S.-Owned Goldcommittee in 1975, 1976, 1978, 1979, 1982, 1983 and 1984. Fort Knox facts. Senator from Kentucky, where Fort Knox is located. All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. His analysis has helped fill in the gaps about how much gold is passing into China each year, which is treated tantamount to a state secret by the Peoples Republic. 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 controversial 'trauma expert' interviewing Prince Harry: Gabor Mat was warned by the Canadian A big Beckham birthday! In 1953, the US Treasury Department audited Fort Knox, but only around5% of the goldunderwent testingfor purity. An excuse was needed to break the seals. Exhibit 7.1. 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. "good delivery" bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong. Moving on to the assay tests conducted at the US Mint. Kids, Gifts for 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. Medals, Treasury and The missing audit reports and assay reports feed into our skepticism. As required under the Cyanide Code, the mine was again audited against ICMI's Verification Protocol by independent professional third-party auditors within three . When I logged in at my account at the FOIA website, I saw my request had disappeared. PBOC Gold Purchases: Separating Facts from Speculation. 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. While this sum is unreasonable, a crowdfunding campaign donated the total in less than 24 hours (strangely enough, the Mint never actually cashed Kooss check, and nearly all of the money was eventually refunded.). 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. 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 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. 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. 'So many dead. In my previous post, from March 2018, on the audits of US official gold reserves, I have exposed that during the audit procedures of the US official gold reserves from 1974 through 2008, repeatedly audit staff deviated from the auditing . Koos Jansen is a precious metal analyst from the Netherlands. Then, something very strange happened in 1983. In 1974, WCPO Anchor Al Schottelkotte got a rare look inside the gold vault at Fort Knox, Kentucky. Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. 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. 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. We are a community that loves Silver, Period. 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. Medals, Email & & Medal Programs, Tours Secretary Mnuchin's statements were not helpful. The First Critical Observations. The OIG audited 3 % from 1993 2008. 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. 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. 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? One of the mostsecure andinaccessible places in the world, the facility once held the Declaration of Independence and Bill of Rights. Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. 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. Mistakes That Created America As You Know It, What It Was Like to Enter Through Ellis Island, Uncivilized Moments on the Congress Floor, Heinous Policies Toward Children and Families, Times Another US Civil Conflict Almost Began, Proposed States and Territories That Almost Were, A History of Foreign Meddling in US Elections, 1812: The Biggest Mess in the Country's History, Fort Knox Is So Mysterious And Heavily Guarded, Only One US President Has Ever Been Inside, video cameras, motion detectors, and secret microphones. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. 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. According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). Small quantities of gold are removed to test the purity during regularly scheduled audits. Currency, Shop All What his dogged FOIA requests have failed to reveal, unfortunately, is anything that would put the questions about the Fort Knox gold to rest. Engraved Prints, Shop All Gift July 21, 2017 7:24AM. . COIN & MEDAL PROGRAMS, History of U.S. Next, we can see Thorsons list he presented of physical gold audit reports of the continuingaudit program from 1974 to 1986. Jansen is a longtime gold insider and journalist reporting on, for example, the goings-on of the incipient Shanghai Gold Exchange (SGE). All your favorite.50 games all in one club! The Counsel to the Inspector General Department of the Treasury told me his department only had 4 of the 13 reports I was looking for. A congressional delegation and some journalists got a look at the gold in 1974. It was also the first visit by a serving US Treasury Secretary since 1948. Need Help? The vault can withstand guns, blowtorches, and other incendiary devices. Jun 5th, 2022 . 26 Feb 2017 13:18. Until 1953, there were serial number audits of the gold and some assaying as I explain but that became costly and time intensive. Do you think it would be worthwhile, at least, to inventory and assay this portion of the Mint-held gold? Ideas, Gifts for Kooss analysis of the procedures used found its rigor wanting in several key areas. And we attempted to contact a records management officer at the Treasury Department, but did not receive a reply as of the date of this letter. 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. 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. The last Congressional visit prior to this occurredin 1974. One particular compartment with 19,800 gold bars was recorded as being moved in the 1996 audit, yet was checked again in 1998 (with the same 19,800 gold bars) with no reference to the fact that this is almost certainly the same sample of gold inspected two years prior. 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 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. 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. Tiger Woods unleashes his lawyers on porn site after it Bannon is 'going to war' against Jared, 'crying Ivanka' and A whole hue world! The first screen shots below are from a gold verification at Fort Knox in March 1998. 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. Fort Knox gold subject of hearing. Answer (1 of 2): Internally, it is done annually. How can the IG be positive if he did not have access to the most basic documentation? 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. Koos mainly provides unique insights about Chinese gold market. On the way to the vault, a literal mine field and an electric fence protectthe gold. The assayer is unknown and there was no assay report included in the audit report. According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! 213K subscribers in the Wallstreetsilver community. 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. Given all the protection, it seems obvious that billions of dollars worth of gold (or something) indeed resides at Fort Knox. The One "Audit" Of Fort Knox. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. Lets read more about the audits at the FRBNY conducted under the continuing audits program, a quote from the 1981 report: The audit procedures followed [at the FRBNY] are essentially the same as those followed at Bureau of the Mint depositories, except that assay samples are not taken to verify the purity of the gold. Fort Knox is home to more than 30 commands and organizations with a daytime population of about 26,260 Soldiers, civilian employees and Family members. The New Year kicked off . Technically its possible the OIG assayed exactly the remaining stash of 9999 gold, though chances are slim given the fact the 9999 gold wasspread over multiple compartments at multiple depositories. All the golden coins that were handed in supposedly accumulated to the greatest gold pile on earth. Talkers Medals, Military That shipment required a convoy of 33 15-ton trailers to move the gold. Questions: Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. 35 % first buy in bonus! 'It would really be quite a movie if we walked in and there was no gold. shot tower flea market 2021,