when was the last time fort knox was audited

*Its likely 97 % of the audited gold by the continuing audits committee has not been assayed by an independent assayer. 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. Fort Knox Policies. Your browser is out of date. Exhibit 7.2. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. US citizens were required to sell their gold bullion - bars and coins - back to the State. It saves time and labor costs. Fort Knox, Kentucky is an Army base with more than one hundred thousand acres stretching across three counties. Secretary of the Treasury Steven Mnuchin visited Fort Knox on August 21. 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. but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . Other problems sound laughable in their incompetence. I'm not a professional auditor (if you are one please contact me), but common sense suggests that when irregularities are found the sample size . In performing the audit, the gold bars are physically moved from one vault compartment to another. The gold is held as an asset at a value of $42.22 per ounce. Site, Coin Company Registration No. Medals, Treasury and . He ought to have known precisely how many pages were needed and presumably where to find them. There has not been any movement of inventoried gold since that time. Need Help? Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. Koos Jansen. Click on the links for more information:Buy for Vault Storage in Singapore It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. Submitted to: . After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. 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 assayer is unknown and there was no assay report included in the audit report. At this stage I havent been able to get my hands on any assay report from 1974 1986. The comments below have not been moderated. 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. If official documents come to surface I will report accordingly. Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians. Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. 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. 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. 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. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. In 1974, WCPO Anchor Al Schottelkotte got a rare look inside the gold vault at 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. Prince Andrew chuckles as he encounters female jogger on way to his weekly Windsor horse-riding trip. They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. 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. 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 committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. My assumption is, these assays from 2004 2008 are all assays authorized by the OIG from 1993 2008 and therefor cover 3 % of the gold stored at the US Mint. This is remarkable. Although this rumor or theory is simply that, the remarkably high security that guards the U.S. gold reserves has understandably drawn the curiosity of the investigative press. 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! previous, back to Shipping within the United States 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). In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. I left school at 16 with six GCSEs - and became a self-made millionaire. The day of the Mary Brooks tour of Fort Knox, September 23, 1974, the Treasury announced that for the first time in twenty-one years, they would agree to an audit of the U.S. gold reserve. US Mint Releases New Fort Knox Audit Documentation. Buy for Vault Storage in New Zealand U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. 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. Did audit reveal missing gold . 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. 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. "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. In short, the US National Archives could not extradite the 7 audit reports I requested. His visit was the one and only time a gold vault was opened for inspection for anyone other than authorized personnel. Kids, Gifts for 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. 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! 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. Between July 1983 and July 1985 the gold was audited in accordance with the plan approved by the Treasurer, as follows. Fort Knox sits on over 100,000 acres and houses 30,000 military personnel. The Mint estimated that as much as one-third of the gold reserves were examined during this period. 'So many dead. *For all other publicly available audit reports (1980, 1981, 1985, 1986) its very briefly mentioned assay tests were conducted, presumably for one in every fiftieth melt. 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? and until 2010, every member of . Exhibit 7.3. 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. Ive found many anomalies that well discuss. Fort . U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. As the last days tick away, let's take a moment to recap the top 12 stories at Fort Knox that shaped our 2021. 3. As a result, the gold at the Bank [FRBNY] is considered unaudited. 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). 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. These CDCs offer full-day care, part-day, and hourly care. On the way to the vault, a literal mine field and an electric fence protectthe gold. The government supposedly maintains over 8,100 metric tonnes of the yellow metal in its reserves, spread out across three main bullion depositories (for reference, the second-largest gold reserves owned by Germany total less than half of the U.S. stockpile). initial 1974 Fort Knox audit which was conducted by GAO and Treasury auditors. However, in some instances, the rationale for moving gold from one compartment to another proved elusive. Senator from Kentucky, where Fort Knox is located. 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. In 1983 the OIG found out something was amiss with the audits performed 1974 1982. 147.3 million ounces of gold is stored at Fort Knox. 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. 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). . The assayer is unknown and no assay reports have been included in the audit reports. Exhibit 7.1. Great! The audit will be performed by a committee of auditors from the U.S. General Accounting Office (GAO) and the Department of the Treasury. 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. After some correspondence back and forth I finally got an email saying my FOIA was exported out of FOIAonline because myrequest was for access to historical records. 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). 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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. I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself. In addition to the gold bricks, Bevin said he got to hold a 1933 double eagle, a $20 gold coin that was never circulated. Government-owned gold for which Treasury is accountable. 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. The novel begins: 7:20 am, September 11, 2015. In October 1984, 4,136,046.924 fine troy ounces of gold were reaudited at the United States Mint, Denver. *In 1977, presumably, one bar in every fiftieth melt (one melt is approximately 20 bars) was assayed, irregularities were found in two melts, the vault had to be opened twice more in the presence of the Joint Sealing Committee and the gold reevaluated. In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. An intruder standing on the roof of the Fort Knox Bullion Depository on the morning of September 11, 2015 would have seen the sunrise in the east. Ledoux & Company found no irregularities in 2004. 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. Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . The next screen shot is from the reply by the FOIA help desk on May 6, 2015. Currently the Office Inspector General of the Treasury is responsible for the audits of the gold reserves at the US Mint. At its peak, 649.6 million ounces were stored at Fort Knox on December 31, 1941. Currency, Shop All 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. United States Mint All Rights Reserved. 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 last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. No outside experts were allowed on the site for the audit, either,providingfodder for all kinds of conspiracy theorists. Learn how your comment data is processed. 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. If you subscribe to this theory, the incredible amount of protection at the U.S. Bullion Depository is for little more than a pile of IOUs. This suggests the gold at the FRBNY was stored so it could be easily transportedin and out of the vaults, possibly through a corridor to the adjacent private vault at 1 Chase Manhattan Plaza read this post by BullionStar gold researcher Ronan Manly for more information on the construction of the FRBNY vault and the connection to the vault across the street that was owned by JP Morgan, but recently bought by Fosun (October 2013), a Chinese investment conglomerate. Why havent we ever seen any assays of coin bars? Conclusion. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . Built in 1936, security access for the facility make it difficult to get access. 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). Here is a rundown of some of Kooss key findings. ', 'All I will say is that it is freakishly well secured,' he said. However, if that intruder had turned to the west he would have . Presidential Coins, Kennedy Half Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. This would last until 2010 when the Armor School was relocated to Fort Benning, Georgia. 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. Gold verification at Fort Knox March 1998, page 2. In 1953, the US Treasury Department audited Fort Knox, but only around5% of the goldunderwent testingfor purity. 312 tonnes of the total is 4 %. Shortly after I got an email that statedmy request had been received and was being processed. The process would take about 30 minutes to verify the gold content of each bar, or 350,000 man hours; to do that . Fort Knox history. The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . My FOIA request had disappeared, or did it? Although gold bars tested to be out of tolerance during a Fort Knox audit in 1977 at a sample size of 2 %, by 1998 the sample size had been further debased to 0.53 %. The fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic. & Medal Programs, Tours Next, we can see Thorsons list he presented of physical gold audit reports of the continuingaudit program from 1974 to 1986. COIN & MEDAL PROGRAMS, History of U.S. Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. 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. What his dogged FOIA requests have failed to reveal, unfortunately, is anything that would put the questions about the Fort Knox gold to rest. This document also contains a summary of the 1980 audit which, by the way, isnt less detailed than the full 1981 report. Dollars, Native The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. An excuse was needed to break the seals. Page Last Modified: 8/26/19, 2:56 PM Fort Knox, KY. Our Nation's Gold Standard Army Home. RSS Feeds . Your request was received in this office on March 3, 2015 and assigned FOIA case number RD 45578. After writing it Ive been trying to collect all audit reports dating from1974 1986. Miles Franklin sponsored this article by Gary Christenson.The opinions are his, and they are not investment advice. 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. 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. 35 % first buy in bonus! Cookies are also used for the purpose of handling our system and services. 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. I did read one time that the queen of England a. As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. The Gold-Backed-Oil-Yuan Futures Contract Myth, Estimated Chinese Gold Reserves Surpass 20,000t. The last full audit was done in 1953 . However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. On this sheet 5 physical gold audit reports are listed, framed in red. 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. Questions: As a freebie trip for 4 select political insiders, last Monday's trip to Fort Knox was undoubtedly a memorable one . 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. 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. 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 is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. He tweeted " Glad gold is safe! 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. Try Army A-Z. Facilities, Production . It was obvious that some of the records were missing (or not provided). 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.

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