A separate post will be dedicated to KPMG. PDF AUDIT REPORT - BullionStar Republican frontrunner Donald Trump hinted at the idea that there just might be no gold in the U.S. Why havent we ever seen any assays of coin bars? From the 1985 report: Fort Knox Gold - History of Fort Knox | BullionByPost In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. Ive found many anomalies that well discuss. About 000% of them were weighed. As a result, the gold at the Bank [FRBNY] is considered unaudited. 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 . At this stage I havent been able to get my hands on any assay report from 1974 1986. By Jennifer Liberto @ CNNMoney June 24, 2011: 11:58 AM ET. Lets have a look. Kinross - Fort Knox Mine April 22nd, 2021 Signature of Lead Auditor Page 2 of 47 . Jun 5th, 2022 . After writing it Ive been trying to collect all audit reports dating from1974 1986. Fort Knox | Military Base Guide PDF ICMI Gold Mining Audit Report - International Cyanide Management Code 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. Paul has introduced legislation that would require an independent audit of the 5,000 plus tons of gold bullion that is believed to stored in the Fort Knox, Kentucky vault. If official documents come to surface I will report accordingly. U.S. Congressman Seeks Full Audit of America's Gold Reserves - Yahoo! when was the last time fort knox was audited One of last year's uproars was the decision by US officials to carry out an audit of these gold vaults. Us, ALL And the last time it was counted was actually in 1953." 213K subscribers in the Wallstreetsilver community. How can the IG be positive if he did not have access to the most basic documentation? 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. Fort Knox Looted of 7,000 Tons of Gold in 1973-1974 says 1981 Article! 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. The public may never know. Try Army A-Z . Gold verification at Fort Knox March 1998, page 2. 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. noting that it was "over 20 years" since the last one. As required under the Cyanide Code, the mine was again audited against ICMI's Verification Protocol by independent professional third-party auditors within three . Exhibit 2. 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. Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. random nose bleed covid. Representative Alex Mooney (R . Kooss analysis of the procedures used found its rigor wanting in several key areas. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. Daily free rolls! Much of this newfound gold came into government coffers as a result of President Franklin Roosevelts executive order confiscating privately held gold in 1933. 3. Welcome to the Coronation! Save my name, email, and website in this browser for the next time I comment. The First Critical Observations. " He told an audience in Louisville, "I assume the gold is still there.". 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 . Exhibit 7.3. di Fort Knox: "Glad Gold Is Safe!". It's going on right now as I say these words. He ought to have known precisely how many pages were needed and presumably where to find them. Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. 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 Last time Fort Knox was audited was in 1953 and even then only - reddit Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. In 2011, the U.S. Treasury's full detailed schedules of gold bars were published by the US House Committee on Financial Services as part of submissions for its hearing titled "Investigating the Gol. & Medal Programs, Tours But Bevin, speaking on WHAS radio, divulged a few more details. Fort Knox Operation . 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. Over 640,000,000 ounces of real money sat behind those massive locked doors. US Government Lost 7 Fort Knox Gold Audit Reports Moving on to the assay tests conducted at the US Mint. By the end of 1982 the continuing audits committee, which consisted of BGFO and US Mint staff, was reorganized under the Department of the Treasury, Office of the Inspector General. Interactive map reveals when you may see SNOW. The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! 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. The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion. The U.S. Government Spent Fort Knox GoldHundreds of Times The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. Are you already an expert in everything America? 45 New Bridge Road, Singapore 059398 Singapore 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. 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. Is There Really Any Fort Knox Gold - Historic Mysteries 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. Fort . The usage of cookies and the collection of customer information by BullionStar is guided by our. On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. 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. Fort Knox Gold: Once upon a time, the Fort Knox Bullion Depository was a vast storehouse for American gold. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. One wonders: was this a simple oversight or some kind of conscious obfuscation effort? 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. There Is No Proof All Gold Is In Fort Knox. The Mint and the GAO were sanctioned to audit a portion of the Treasury's gold. As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. There can be no world reserve currency without appropriate gold reserves supporting it, providing essential confidence and credibility. Coin Only One President Has Ever Been Inside Fort Knox Why Is It - Ranker In 1936, Fort Knox military base was chosen as the site to build a bullion depository to store this gold. The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. Ideas, Gifts for 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. Fort Knox Policies. When thinking about these re-audits, threescenarios pop to mind: Why else wouldso much gold have been re-audited? From the 1985 report: In fiscal year 1985 audits of Government-owned gold were conducted at the United States Mint in Denver and the United States Bullion Depository in Fort Knox, Kentucky. 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. *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. Kids, Gifts for Government-owned Gold, or my office, and placed under official joint seals. 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. Each and every bar there should be assayed in a full, independent audit. 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. 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). They could only find 2 reports I didnt posses previously, of the audits conducted in 1985 and 1986. Conclusion. For this post well focus on the continuing audits of U.S.-owned gold, as these audits should proof there is gold in Fort Knox. At its peak, 649.6 million ounces were stored at Fort Knox on December 31, 1941. U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . Ron Paul - Audit Fort Knox (the gold dipped tungsten bars) 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. We asked the experts - and their answers will terrify you Public Service Announcement, do NOT watch these ads! However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. Given all the protection, it seems obvious that billions of dollars worth of gold (or something) indeed resides at Fort Knox. Even then only 5% of the examined bullion was weighed and assayed to determine its purity. Ledoux & Company found no irregularities in 2004. teaching assistant pay netmums; when was the last time fort knox was audited. Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. Fort Knox is Probably Empty, Gold Missing - Stillness in the Storm *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. The New Year kicked off . Former US Mint Director Clueless On Gold In Fort Knox - GoldSeek 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. 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. Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. & Sales Figures. PBOC Gold Purchases: Separating Facts from Speculation. Click on the links for more information:Buy for Vault Storage in Singapore 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. The assayer is unknown and there was no assay report included in the audit report. 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. Ron Paul wants gold at Fort Knox audited - Jun. 24, 2011 - CNNMoney "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". And the problem goes far beyond missing audit reports. Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. However, in some instances, the rationale for moving gold from one compartment to another proved elusive. In 1953, the US Treasury Department audited Fort Knox, but only around5% of the goldunderwent testingfor purity. A waiting list may be . Mint Medals, Shop All Paper In 1977 the New York assay office, which is a subsidiary of the US Mint, conducted the assays. The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . Royal Mint Launches First Coin in Myths and Legends Collection, Numismatic Crime Counterfeit Notes Sold Over Facebook, 1776 Continental Dollar Offered by David Lawrence Rare Coins, Grade This 1936-S Cincinnati Commemorative Silver Half Dollar, First King Charles III Coin From Pobjoy Celebrating the Accession, Dakota 1875 $5 Bank Note in Stacks Bowers Spring Auction. I did read one time that the queen of England a. It basically coveredby 1986, 97 percent of the Government-owned gold held by the Mint had been audited and placed under joint seal. 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. Experts weigh in as tremors hit Wales, Cornwall and the Are YOU eating the right colours? CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. Fort Knox U.S. Gold Reserves to be Independently Audited and Assayed According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. An excuse was needed to break the seals. ', 'All I will say is that it is freakishly well secured,' he said. Connecting thereto, from Thorsons opening statement: My office began conducting annual audits of the gold reserves in Fiscal Year 1993. Fort Knox DPW team completes large audit ahead of deadline in support We are no longer accepting comments on this article. The gold stored in these compartments would get moved around if samples were taken for assaying during the audit. Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. 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. Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. US Mint Releases New Fort Knox "Audit Documentation". The First Military/Civilian clock Examples of Civilian/Military time conversion. 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. We will discuss the remaining 4 audit reports at once, as they are very similar. Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. The first screen shots below are from a gold verification at Fort Knox in March 1998. Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. The auditors were bored and decided to re-audit 1,700 tonnes. However, as Ive written in my post Where Did The Gold In Fort Knox Come From? There was no assay report included in the audit report. So, what's really inside Fort Knox? This document also contains a summary of the 1980 audit which, by the way, isnt less detailed than the full 1981 report. Coins, American Sevenreports are missing. The vault can withstand guns, blowtorches, and other incendiary devices. My FOIA request had disappeared, or did it? It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. In 1974, after the US closed the gold window, congressional support grew for inquiring into the US gold stock. On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued.