Every year the gold in Fort Knox is audited by checking the official joint seals that were placed on all vault compartments during the continuing audits of U.S.-owned gold from 1974 until 1986, when allegedly 97 % of the (Deep Storage) gold was inspected. This fits right into how the US government imposes audits on their official gold reserves; the audits are performed by the US government itself. 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. A separate post will be dedicated to KPMG. 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. Dollars, Native On the way to the vault, a literal mine field and an electric fence protectthe gold. Ron Paul questions whether there's gold at Fort Knox, NY Fed In another dubious mix-up, a number of measurements were faulty because the auditors misread where the decimal point was on the scale. In June 1975, the Treasury Secretary authorized and directed a continuing audit of U.S. Fort Knox | Military Base Guide 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. 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. 2023 DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. President Reagan last spring demanding that this be looked into immediately. You requested access to audit reports of the United States Department of the Treasurys official gold reserves published by the Committee for Continuing Audit of the U.S. 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 last full audit was done in 1953 . The next screen shot is from the reply by the FOIA help desk on May 6, 2015. Honor, Rolls, Your browser is out of date. Exhibit 7.1. US citizens were required to sell their gold bullion - bars and coins - back to the State. The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . Of course,strange things have been stored in the vault, like morphine and opiumduring the early '90s. Then let's raise a glass to a slower, quieter 2022 . This would last until 2010 when the Armor School was relocated to Fort Benning, Georgia. Ideas, Gifts for 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. Matt Bevin. The last time that Congress audited it was 2019. It was obvious that some of the records were missing (or not provided). Fort Knox sits on over 100,000 acres and houses 30,000 military personnel. Buy for Vault Storage in New Zealand Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! Bureau of Government Financial Operations [BGFO]. Fort Knox U.S. Gold Reserves to be Independently Audited and Assayed When will the Beast from the East be at YOUR door? 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. Moreover, it showed a number of (at best) inconsistencies in how the mint conducts its bullion inspection for auditing purposes. As weve seen thus far there are many problems with the official story everything is fine, all the US official gold reserves all audited. However, how trustworthy is this system of accounting? More than half of . For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. More anomalies with regard to the audits of the US official gold reserves will be discussed in forthcoming posts. . 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. There Is No Proof All Gold Is In Fort Knox. 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. All your favorite.50 games all in one club! Join FORT KNOX code Axykp Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. In 1974, after the US closed the gold window, congressional support grew for inquiring into the US gold stock. noting that it was "over 20 years" since the last one. (in millions of ounces), SIGN UP FOR EMAIL UPDATES AND TEXT MESSAGE ALERTS ABOUT PRODUCTS. Few people have ever entered the vault,and while147.3 million ounces of goldallegedly exists inside, the accuracy remains in doubt. 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. According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 . The audit announced, however, would include just 20% of the gold. The Facebook predator who lured schoolgirls to run away with him is one of 7,000 sex fiends who offended Do not sell or share my personal information. 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 Gold Reserve Transparency Act would count all the gold held by - Medium One of last year's uproars was the decision by US officials to carry out an audit of these gold vaults. The official story from OIG is that 100 % of the gold stored at Fort Knox was audited in between 1974 and 1986, . when was the last time fort knox was audited. Test yourself with this Cockney Rhyming Slang quiz. Meanwhile I was fortunate to find the 1981 audit report at the website The Golden Sextant fromReg Howe. Newborns, Gifts 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. For the best and most secure experience in our catalog, please update your browser. 'The gold is safe.'. 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. All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? He said this, but there is no proof. Fort Knox, Kentucky is an Army base with more than one hundred thousand acres stretching across three counties. Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, U.S. US Official Gold Reserves Auditor Caught Lying - Substack US Army Cadet Command Headquarters | Military Base Guide McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him. As a freebie trip for 4 select political insiders, last Monday's trip to Fort Knox was undoubtedly a memorable one . However, if that intruder had turned to the west he would have . These CDCs offer full-day care, part-day, and hourly care. However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. 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. Did audit reveal missing gold . In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. This was the first time the OIG was responsible for the audits of the gold at the Mint (note, this same OIG is still responsible for the audits). Others claim the goldis actually justtungsten bricks painted to look like the precious metal. 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. Fort Knox: "Glad Gold Is Safe!". 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. 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). Review of US Bullion Depository (Fort Knox) gold audits - plenty of Also, the assay test results from last year's gold audits at Fort Knox and West Point were What was the last time the gold at Fort Knox was audited? 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. He tweeted " Glad gold is safe! Mint Medals, Shop All Paper 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.
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