when was the last time fort knox was audited

. His visit was the one and only time a gold vault was opened for inspection for anyone other than authorized personnel. Maybe a room or two full of gold but the rest is gone. The last time anyone had access to inspect the deposits was on September 23, 1974. . Although the quality of the gold in the custody of the Federal Reserve Bank of New York cannot be readily assayed,. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. The gold is held as an asset at a value of $42.22 per ounce. I personally believe that rumor and the bulk of it has been sold off to the rich elites. Two tetrahedron-shaped chips were removed form the top and bottom of each bar assayed. 1495,not enacted) in 2011 the Inspector General (IG) of the Treasury presented a case all is fine, but all is not fine. A waiting list may be . 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. 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. Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. Domestic and International Shipping from Singapore Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. The U.S. gold reserves at Fort Knox are broken into different numbered compartments within the gold vault. 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. 'The gold is safe.'. The initial intention is clear to us, the FRBNY was supposed to be audited; the gold to be counted, weighed, assayed and the compartments to be sealed (these were the audit procedures of the continuing audits committee). Lets have a look. Thats 6 down, 7 more to go. If we carefully read the scarce audit reports available to us, wenotice the audit procedures were revised in 1983. During this operations, the melt numbers and the number of bars in each melt are verified with an inventory listing, and one in fifty melts is randomly selected for weighing and test assay. The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. 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. McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him. Ron Paul worries Fort Knox gold is gone. It is surrounded by an active U.S. Army fort, guarded by the U.S. Mint Police and protected by layers of security measures, including a blast proof 22-ton door, 16,000 cubic feet of granite, 4,200 cubic yards of concrete, 750 tons of reinforcing steel and 670 . Secretary of the Treasury Steven Mnuchin visited Fort Knox on August 21. Dollars, Native 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. It was established in 1918 as Camp Knox (named for Major General Henry Knox, first U.S. secretary of war), and it became a permanent military post in 1932. HOME; EVENTS; ABOUT; CONTACT; FOR ADULTS; FOR KIDS; accident on 9w marlboro, ny today Us, ALL Fort Knox is supposedly filled with 400 oz. 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. Metal Coins, back to 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. Need Help? 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. Why havent we ever seen any assays of coin bars? 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 views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. 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. There has not been any movement of inventoried gold since that time. In 1953, the US Treasury Department audited Fort Knox, but only around5% of the goldunderwent testingfor purity. 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. In addition to the gold bricks, Bevin said he got to hold a 1933 double eagle, a $20 gold coin that was never circulated. ( 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. It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). For the other years we dont know whatoffice performed the checks. Moving on to the assay tests conducted at the US Mint. 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. As a freebie trip for 4 select political insiders, last Monday's trip to Fort Knox was undoubtedly a memorable one . At Fort Knox, we are about people - great service members, outstanding civilians . As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. However, there has been considerable doubt over the years as to whether the depository actually held any gold. Your request was received in this office on March 3, 2015 and assigned FOIA case number RD 45578. Even then only 5% of the examined bullion was weighed and assayed to determine its purity. As required under the Cyanide Code, the mine was again audited against ICMI's Verification Protocol by independent professional third-party auditors within three . An excuse was needed to break the seals. 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. . The assay tests found no irregularities. Audit report Fort Knox 1981. 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. In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. He said this, but there is no proof. walked past guards armed with submachine guns and through a 3-foot thick steel door into the . However, how trustworthy is this system of accounting? 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. 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. 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. The First Critical Observations", February 2017. The Mint and the GAO were sanctioned to audit a portion of the Treasury's gold. previous, Kids The New Year kicked off . Koos takes a sharp jab at how the government bureaucracy operates, inveighing (with cause) that it should be clear that the Deep Storage gold has not been audited by professionals, but the precious metals have been verified by imbeciles.. 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. Is the Coin Market Sleeping on Fairmont Collection Gold Coins? 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. The Congressional inspection adheres to the new open door policy of the government announced by President Ford. This document also contains a summary of the 1980 audit which, by the way, isnt less detailed than the full 1981 report. Buy for Vault Storage in the United States Thats everything we have, or are aware of. Ive found many anomalies that well discuss. Liberty, Bush Three out of thirteen compartments at Fort Knox were audited for inventory and samples were assayed and compared to records currently held by the Mint. The depository was built following U.S. President, Franklin D. Roosevelt's, controversial 1933 legislation - Executive Order 6102 - which outlawed the private ownership of gold bullion. Share this page: Army.mil. When the mint finally produced the audit documentation, Jansen received 134 lightly redacted pages (rather than the estimated total of 1,200 pages). U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. The US official gold reserves are the worlds greatest by far at 8,134 metric tonnes. Lets recap what weve studied in the previous posts. I would like to stress the importance of this failure to deliver the audit reports of 97 % of the official US gold reserves by the department directly responsible at this point in time. there has not been anyone allowed access to confirm the gold amounts that are supposedly stored at the Fort. "good delivery" gold bars. 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 Internal Review and Audit Compliance. Contact Us. But Bevin, speaking on WHAS radio, divulged a few more details. 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. The assay tests found no irregularities. di When I logged in at my account at the FOIA website, I saw my request had disappeared. Shortly after I got an email that statedmy request had been received and was being processed. Moreover, it showed a number of (at best) inconsistencies in how the mint conducts its bullion inspection for auditing purposes. Our staff conducted a search using the National Archives Holdings Management System under the following records group numbers: RG 50 Treasurer of the United States, RG 56 General Records of the Department of the Treasury, RG 82 Federal Reserve System, RG 101 Office of the Comptroller of the Currency, RG 104 U.S. Mint, and RG 425 Financial Management Service. A second storage facility was built at the same time: . For instance, sample sizes used for assaying were conspicuously small. To access the gold vault at Fort Knox, you'd need to make your way through a network of security measures. 'It's not even the annual funding level for some of our large departments in the federal government,' he said. Gold verification at Fort Knox March 1998, page 3. 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. Kids, Gifts for A barrel is worth about $1,200 or $2.88 per pound which is 10-18 times the value of U.S. crude oil. After the gold was audited by the Continuing Audit committee all compartments were placed under Official Joint Seal. I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself.