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. The comments below have not been moderated. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product. 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. 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. 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. Great! China Gold Import Jan-Sep 797t. Exhibit 7.1. 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! In October 1984, 4,136,046.924 fine ounces gold was reaudited. 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. Official records claimed 20,000 tons in the 1950s. In 1977 the New York assay office, which is a subsidiary of the US Mint, conducted the assays. *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. Exhibit 2. 35 % first buy in bonus! 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. initial 1974 Fort Knox audit which was conducted by GAO and Treasury auditors. At the congressional hearing of the Gold Transparency Act (H.R. The Mint and the GAO were sanctioned to audit a portion of the Treasury's gold. Exhibit 7.3. there has not been anyone allowed access to confirm the gold amounts that are supposedly stored at the Fort. More anomalies with regard to the audits of the US official gold reserves will be discussed in forthcoming posts. Newborns, Gifts As will conclusions and speculation. By Jennifer Liberto @ CNNMoney June 24, 2011: 11:58 AM ET. 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. Honor, Rolls, There Is No Proof All Gold Is In Fort Knox. The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. He said this, but there is no proof. Koos is in the company of monetary scholar Jim Rickards and former U.S. Representative Ron Paul in publicly campaigning for more transparency in the financial system and the gold market. Need Help? www.smartaccess.us . The last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. 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). In 1983 the OIG found out something was amiss with the audits performed 1974 1982. Fort Knox is a U.S. army base in Kentucky, best known for the United States Bullion Depository which holds a large part of the U.S. government's reserves of gold. $800 weekly hand count free roll. 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! "We have approximately $200 billion of gold at Fort Knox," said Mnuchin. Metal Coins, back to There has not been any movement of inventoried gold since that time. 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. July 21, 2017 7:24AM. Of course,strange things have been stored in the vault, like morphine and opiumduring the early '90s. No irregularities were found. Cookies are also used for the purpose of handling our system and services. 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. 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. ( 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. The gold at Fort Knox is stored in one of the most secure facilities in the world. Several more examples of these blurry situations are shown in the released documents. 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. 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. We asked the experts - and their answers will terrify you Public Service Announcement, do NOT watch these ads! BY . *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. but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . 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. Pursuant to that order, the Committee for Continuing Audit of the U.S. 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. 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. 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. More than half of . Whos Supplying? Government-owned gold for which Treasury is accountable. Maybe a room or two full of gold but the rest is gone. 4. The New Year kicked off . Kooss analysis of the procedures used found its rigor wanting in several key areas. Lets have a look. By and large, the vast majority of the verification is done by checking Official Joint Seals. It was also the first visit by a serving US Treasury Secretary since 1948. Gold verification at Fort Knox March 1998, page 1. 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. I shall rest here. At the hearing Thorson presented exhibits to support his case 100 % of the gold held at the US Mint has been audited. ALL COIN PROGRAMS, National Purple Heart Hall of Thats 6 down, 7 more to go. . Koos Jansen is a precious metal analyst from the Netherlands. 12/ As of September 30, 1984, 99.9 percent of the gold stored at the United States Denver Mint had been audited under the initial continuing audit program. When will the Beast from the East be at YOUR door? In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. In performing the audit, the gold bars are physically moved from one vault compartment to another. 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. 'It would really be quite a movie if we walked in and there was no gold. Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. Lets recap what weve studied in the previous posts. At Fort Knox, we are about people - great service members, outstanding civilians . In 1936, Fort Knox military base was chosen as the site to build a bullion depository to store this gold. "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 an audit conducted at Fort Knox in 1953, 88 ingots were counted for verification. 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 last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. From 1993 to 2008 the remaining 3 % of the gold reserves stored at the US Mint hasbeen audited I assume. Much of this newfound gold came into government coffers as a result of President Franklin Roosevelts executive order confiscating privately held gold in 1933. 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. Shipping within New Zealand. The last full audit was done in 1953 . US Mint Releases New Fort Knox Audit Documentation. The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. In an interview, McConnell said he could not say much about the visit for security reasons. *Its likely 97 % of the audited gold by the continuing audits committee has not been assayed by an independent assayer. Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. The WORST care homes in England: Interactive map reveals the lowest-rated 2,530 residences - so is there one Do YOU know your Adam and Eve from your Ruby Murray? Ive found many anomalies that well discuss. 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). fort knox crisis phone numbers. No outside experts were allowed on the site for the audit, either,providingfodder for all kinds of conspiracy theorists. 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. Thank you for signing up with United States Mint! (in millions of ounces), SIGN UP FOR EMAIL UPDATES AND TEXT MESSAGE ALERTS ABOUT PRODUCTS. Coins, Tours & 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. 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. 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. Liberty, Bush & Facilities, Shop All Matt Bevin. 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. Site, Coin 1495,not enacted) in 2011 the Inspector General (IG) of the Treasury presented a case all is fine, but all is not fine. On top of this, a decades worth (1993-2003) of Joint Seal inspections from the Denver and West Point depositories are not accounted for. 26 Feb 2017 13:18. Jansen is a longtime gold insider and journalist reporting on, for example, the goings-on of the incipient Shanghai Gold Exchange (SGE). When thinking about these re-audits, threescenarios pop to mind: Why else wouldso much gold have been re-audited? However, as Ive written in my post Where Did The Gold In Fort Knox Come From? 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 . The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. For the other years we dont know whatoffice performed the checks. Contact Us. 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. 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. Part One, We use cookies to enhance the user experience and to analyse traffic. 312 tonnes of the total is 4 %. Shortly after I got an email that statedmy request had been received and was being processed. Not that it would be easy to even make it this far, but the door to the vault is made of steel and . Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. Each and every bar there should be assayed in a full, independent audit.
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