Quoting from the 1981 report: Gold at the Federal Reserve Bank of New York is audited periodically by examiners of the Board of Governors of the Federal Reserve System, Members of the Committee for Continuing Audits of United States Government-owned Gold representing the Mint and BGFO observed the audits at the invitation of the Board and the Federal Reserve Bank. 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. Prince Andrew chuckles as he encounters female jogger on way to his weekly Windsor horse-riding trip. 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.. There Is No Proof All Gold Is In Fort Knox. The last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. 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. We are no longer accepting comments on this article. 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. 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. ( 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. When thinking about these re-audits, threescenarios pop to mind: Why else wouldso much gold have been re-audited? Coin Donald Trump Doesn't Think So. As required under the Cyanide Code, the mine was again audited against ICMI's Verification Protocol by independent professional third-party auditors within three . 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. 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. US Mint Releases New Fort Knox Audit Documentation. However, there has been considerable doubt over the years as to whether the depository actually held any gold. 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. www.smartaccess.us . On this sheet 5 physical gold audit reports are listed, framed in red. 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. 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. Metal Coins, back to Buy for Vault Storage in the United States 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. As weve seen thus far there are many problems with the official story everything is fine, all the US official gold reserves all audited. Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. Facilities, Production Next was the GAO; unfortunately they couldnt deliver anything I was looking for. The facility also featuresvideo cameras, motion detectors, and secret microphones, all set to pick up the presence of anyone or anything that doesn't belong. Sets, Commemorative and until 2010, every member of . The Eisenhower Administration Conducted The Last Audit Of Fort Knox. All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? Jansen found instances in which the Treasurys auditors failed to follow the governments own procedures for the auditing process. In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. . In October 1984, 4,136,046.924 fine ounces gold was reaudited. Fort Knox Gold: Once upon a time, the Fort Knox Bullion Depository was a vast storehouse for American gold. 213K subscribers in the Wallstreetsilver community. The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. Answer (1 of 2): Internally, it is done annually. The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion. China Gold Import Jan-Sep 797t. As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. noting that it was "over 20 years" since the last one. 4. 'It's not even the annual funding level for some of our large departments in the federal government,' he said. At the congressional hearing of the Gold Transparency Act (H.R. 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. 1495,not enacted) in 2011 the Inspector General (IG) of the Treasury presented a case all is fine, but all is not fine. 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. Gold verification at Fort Knox March 1998, page 2. 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. The audit announced, however, would include just 20% of the gold. 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. There can be no world reserve currency without appropriate gold reserves supporting it, providing essential confidence and credibility. The New Year kicked off . From 1993 to 2008 the remaining 3 % of the gold reserves stored at the US Mint hasbeen audited I assume. 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. Currency, Shop All Shortly after I got an email that statedmy request had been received and was being processed. Beginning in 1974, the auditors of the U.S. government's gold reserves held at Fort Knox, Ky., and at the U.S. Mint facilities in Denver, Colo., and West Point, N.Y. (which was named the West Point Bullion Depository from its opening in 1937 until it gained status as an official Mint in 1988), started a 10-year program to verify 100 percent of the gold reserves. Kinross - Fort Knox Mine April 22nd, 2021 Signature of Lead Auditor Page 2 of 47 . However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. 'The gold is safe.'. 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. 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. *For the audits performed in 1975, 1976, 1978, 1979, 1982, 1983 and 1984 under the continuing audits program allegedly 1 in 50 melts has been assayed, although there are no audit reports, nor assay reports, nor do we know who the assayer was. The OIG audited 3 % from 1993 2008. Cookies are also used for the purpose of handling our system and services. At Fort Knox, we are about people - great service members, outstanding civilians . 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. By and large, the vast majority of the verification is done by checking Official Joint Seals. After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. 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). Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. The auditors were bored and decided to re-audit 1,700 tonnes. Not that it would be easy to even make it this far, but the door to the vault is made of steel and . 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. Weve focused on the first audits of the gold stored by the US Mint. Then, something very strange happened in 1983. A second storage facility was built at the same time: . Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. When will the Beast from the East be at YOUR door? It basically coveredby 1986, 97 percent of the Government-owned gold held by the Mint had been audited and placed under joint seal. 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). No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. In 1983 the OIG found out something was amiss with the audits performed 1974 1982. But theories exist regarding other possiblecontents of the vault -like the body of Jimmy Hoffa. " He told an audience in Louisville, "I assume the gold is still there.". 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. 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. "good delivery" gold bars. The usage of cookies and the collection of customer information by BullionStar is guided by our. Two months later I still got no response. 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?' : 201217896Z 'It just kind of came up as a result of a casual conversation,' McConnell said. The target this time is the United States Treasury Assay Office in New York . Are you already an expert in everything America? Tuesday March 22, 2016 13:20. 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. Thank you for signing up with United States Mint! Part of the Daily Mail, The Mail on Sunday & Metro Media Group. Cleverly located at the intersection of Gold Vault Road and Bullion Boulevard, the bullion depository at Fort Knox was constructed and housing the growing government stock of gold by 1937. 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). The First Critical Observations. 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. Ledoux & Company found no irregularities in 2004. Several more examples of these blurry situations are shown in the released documents. Bags, & Boxes, Code Its glittering gold . Jun 5th, 2022 . (in millions of ounces), SIGN UP FOR EMAIL UPDATES AND TEXT MESSAGE ALERTS ABOUT PRODUCTS. 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). Donate here, Idaho House Votes to Authorize State Gold & Silver Holdings, 34 Wyoming House Members Thumb Their Noses at Sound Money, Catch-22: Rate Hikes May Fuel Even MORE Inflationary Deficit Spending, Vermont Seeks to Become 44th State to Roll Back Sales Tax on Sound Money, Mississippi Legislature Votes Overwhelmingly to End Sales Taxes on Gold and Silver, VIDEO: President of Money Metals Exchange Joins Gold Standard Podcast to Discuss Sound Money Legislation, Iowa Seeks to End Capital Gains Taxes on Gold and Silver, Mississippi Bill Would End All Taxes on, Invest State Funds in, Gold & Silver, Kentucky Lawmakers Aim to End Sales Taxes on Sound Money, Missouri Senate Votes to End Income Taxes on Gold and Silver, Hold Monetary Metals in Reserve, Legislators Seek Repeal of Wisconsins Controversial Sales Tax on Gold and Silver. 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. Ron Paul introduced a bill that would require the Fed to manually audit every U.S.-owned gold . More false statements by the auditor have appeared, further eroding its credibility. Atthe congressional hearing in 2011 the IG stated to be 100 % certain all gold stored by the Mint was inventoried and audited, yet his department had accessto only a fraction (4) of all audit reports (13). I'm a vet, and here are five dog breeds most prone to cancer - including Golden Retrievers and Rottweilers. Conclusion. A separate post will be dedicated to KPMG. Single mother faces 170 parking fine after overstaying at McDonald's for just 14 minutes while she treated Man had sex with his wife on bollard in protest after it had been erected by neighbour to stop him parking What will the next pandemic be? To access the gold vault at Fort Knox, you'd need to make your way through a network of security measures. The last Congressional visit prior to this occurredin 1974. 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. Same story at the US Mint and US National Archives. Questions: when was the last time fort knox was audited. Answer (1 of 2): Who knows but it is rumored that the majority of the gold in Fort Knox no longer exists! He ought to have known precisely how many pages were needed and presumably where to find them. Maybe a room or two full of gold but the rest is gone. The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . FORT KNOX MINE ICMC SUMMARY AUDIT REPORT . Fort Knox is supposedly filled with 400 oz. Buy, ship and store bullion with BullionStar in/from different countries. 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. Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. In short, the US National Archives could not extradite the 7 audit reports I requested. One of last year's uproars was the decision by US officials to carry out an audit of these gold vaults. Fort Knox facts. But by 1986, you had 97 percent was audited. The intention in 1975 was to audit the gold at the FRBNY, but then, a few years down the road the gold at the New York Fed was mysteriouslyexempt from the continuing audits program. 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. 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. Connecting thereto, from Thorsons opening statement: My office began conducting annual audits of the gold reserves in Fiscal Year 1993. Koos mainly provides unique insights about Chinese gold market. 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. And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians. However, if that intruder had turned to the west he would have . Day trip: Steve Mnuchin and his wife Louise Linton touched down in Kentucky earlier on Monday prior to the Treasury Secretary's tour of Fort Knox. 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. Interactive map reveals when you may see SNOW. 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. Text Alerts, Contact Exhibit 7.2. Try Army A-Z . The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . "Dear US Mint, We Gave You The FOIA Funds, Now Give Us The Fort Knox Audit Documents!", November 2016 "US Mint Releases New Fort Knox "Audit Documentation". In October 1984, 4,136,046.924 fine troy ounces of gold were reaudited at the United States Mint, Denver. Treasury Secretary William E. Simon issued the invitation to Congressmen to inspect the gold at Fort Knox. Share this page: Army.mil. Alaska, USA . On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued. 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). Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). Equal Employment Opportunity. ', 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. However, how trustworthy is this system of accounting? U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. Moving on to the assay tests conducted at the US Mint. 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. I shall rest here. For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. The assay tests found no irregularities. 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. Engraved Prints, Shop All Gift 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. However, in some instances, the rationale for moving gold from one compartment to another proved elusive. That shipment required a convoy of 33 15-ton trailers to move the gold. When the mint finally produced the audit documentation, Jansen received 134 lightly redacted pages (rather than the estimated total of 1,200 pages). 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). 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. President Reagan last spring demanding that this be looked into immediately. "The last time anybody went in to see the gold, other than the Fort Knox people, was in 1974 when there was a congressional visit. For the best and most secure experience in our catalog, please update your browser. And the last time it was counted was actually in 1953." Ive found many anomalies that well discuss. The One "Audit" Of Fort Knox. Until 1953, there were serial number audits of the gold and some assaying as I explain but that became costly and time intensive. 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. Approximately half the U.S. Treasury's gold is located in the storage facility at Fort Knox 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. About 000% of them were weighed. Test yourself with this Cockney Rhyming Slang quiz. Instead, I was advised to contact the Treasury. The reports from 1974 and 1977 weve extensively analyzed in my previous post Second Thoughts On US Official Gold Reserves Audits, published on February 9, 2015. GAO stands for General Accounting Office, OIG stands for Office of Inspector General. 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). 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. Click on the links for more information:Buy for Vault Storage in Singapore 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. Exhibit 7.1. The assayer is unknown and no assay reports have been included in the audit reports. Here is a rundown of some of Kooss key findings. . . According to some sources, this is where most of the other Treasury's gold is located. While the order is not very detailed, in the years that followed the committee started auditing gold stored at the US Mint and at the Federal Reserve Bank of New York (FRBNY). When I logged in at my account at the FOIA website, I saw my request had disappeared.