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. Bags, & Boxes, Code 'It just kind of came up as a result of a casual conversation,' McConnell said. We are a community that loves Silver, Period. Then, something very strange happened in 1983. Coins, Tours & The assay tests found no irregularities. 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 the bullion, 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. It seems that a portion of the Mint and the U.S. gold reserves were audited in an assay between 1993 and 2008, as you acknowledged. 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? On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. . A congressional delegation and some journalists got a look at the gold in 1974. 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. We are no longer accepting comments on this article. How can the IG be positive if he did not have access to the most basic documentation? 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. After the Congressional inspection, the Bullion Depository will once again be closed to visitors. The US official gold reserves are the worlds greatest by far at 8,134 metric tonnes. Same story at the US Mint and US National Archives. Each and every bar there should be assayed in a full, independent audit. Your request was received in this office on March 3, 2015 and assigned FOIA case number RD 45578. Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. Tiger Woods unleashes his lawyers on porn site after it Bannon is 'going to war' against Jared, 'crying Ivanka' and A whole hue world! 2023 DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. 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. Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. When will the Beast from the East be at YOUR door? The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. ALL COIN PROGRAMS, National Purple Heart Hall of 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. Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. 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. 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. One of the mostsecure andinaccessible places in the world, the facility once held the Declaration of Independence and Bill of Rights. From the 1985 report: Others claim the goldis actually justtungsten bricks painted to look like the precious metal. www.smartaccess.us . "good delivery" bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong. eonon change home screen. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. 1495,not enacted) in 2011 the Inspector General (IG) of the Treasury presented a case all is fine, but all is not fine. More false statements by the auditor have appeared, further eroding its credibility. The One "Audit" Of Fort Knox. Telephone: (502) 624-2386. Based on glaring conflicts among the Treasury's own documents, this staggering amount of gold disappeared without a trace from 1961 to 1971. . 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.. Domestic and International Shipping from Singapore 'It's not even the annual funding level for some of our large departments in the federal government,' he said. Miles Franklin sponsored this article by Gary Christenson.The opinions are his, and they are not investment advice. McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. 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. And the last time it was counted was actually in 1953." : 201217896Z Furthermore, these audits found no exceptions of any consequence. It was also the first visit by a serving US Treasury Secretary since 1948. US Mint Releases New Fort Knox Audit Documentation. Questions: 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. 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. ( 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. In another dubious mix-up, a number of measurements were faulty because the auditors misread where the decimal point was on the scale. For the first time photographing is being permitted inside the Depository.. 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 . Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. A Fort Knox physical gold audit in 1953 was anything but full, neither was the famous audit in 1974. Government-owned Gold, or my office, and placed under official joint seals. Maybe a room or two full of gold but the rest is gone. Great! As will conclusions and speculation. At Fort Knox, we are about people - great service members, outstanding civilians . ByI forget which date it was, I believe by 1986, wehold on just one second here, I got it. On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued. In 1974, WCPO Anchor Al Schottelkotte got a rare look inside the gold vault at Fort Knox, Kentucky. 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. 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. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. 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. 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. Sets, Commemorative Murdaugh is heckled as he leaves court, Moment teenager crashes into back of lorry after 100mph police race, Ken Bruce finishes his 30-year tenure as host of BBC Radio 2, Family of a 10-month-old baby filmed vaping open up, Missing hiker buried under snow forces arm out to wave to helicopter, Insane moment river of rocks falls onto Malibu Canyon in CA, Fleet-footed cop chases an offender riding a scooter, Ukrainian soldier takes out five tanks with Javelin missiles. The fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic. If we carefully read the scarce audit reports available to us, wenotice the audit procedures were revised in 1983. Donald Trump Doesn't Think So. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. Meanwhile I was fortunate to find the 1981 audit report at the website The Golden Sextant fromReg Howe. More anomalies with regard to the audits of the US official gold reserves will be discussed in forthcoming posts. Thats 6 down, 7 more to go. Much of this newfound gold came into government coffers as a result of President Franklin Roosevelts executive order confiscating privately held gold in 1933. This effort to audit the Fort Knox gold, the Federal Reserve, and its policies toward gold is now carried on by the younger Paul, Rand, who currently serves as a U.S. However, in some instances, the rationale for moving gold from one compartment to another proved elusive. 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. Fort Knox facts. It saves time and labor costs. But Bevin, speaking on WHAS radio, divulged a few more details. The target this time is the United States Treasury Assay Office in New York . 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. Coin The process would take about 30 minutes to verify the gold content of each bar, or 350,000 man hours; to do that . di 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. Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. 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. At the congressional hearing of the Gold Transparency Act (H.R. Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. 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 committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. 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. From 1993 to 2008 the remaining 3 % of the gold reserves stored at the US Mint hasbeen audited I assume. Shortly after I got an email that statedmy request had been received and was being processed. July 1986 12,477,777.638 [this number Icopied from the 1986 report]. Official records claimed 20,000 tons in the 1950s. In 1974, after the US closed the gold window, congressional support grew for inquiring into the US gold stock. 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 controversial 'trauma expert' interviewing Prince Harry: Gabor Mat was warned by the Canadian A big Beckham birthday! In 1936, Fort Knox military base was chosen as the site to build a bullion depository to store this gold. And we attempted to contact a records management officer at the Treasury Department, but did not receive a reply as of the date of this letter. 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 annual audits by the committee ended in 1986 after 97 per cent of the Government owned gold held by the Mint had been audited and placed under official joint seal. "Glad the gold is safe!". Fort Knox is in Romeo (R) time. " He told an audience in Louisville, "I assume the gold is still there.". previous, Kids 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. Train fares will rise by 5.9% TOMORROW - but travellers can still get cheaper tickets if they buy them Why is Britain experiencing so many earthquakes? Is the Coin Market Sleeping on Fairmont Collection Gold Coins? 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. The New Year kicked off . I shall rest here. According to some sources, this is where most of the other Treasury's gold 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. It's going on right now as I say these words. 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. The gold at Fort Knox is stored in one of the most secure facilities in the world. He said this, but there is no proof. The event, Sept. 23, 1974, is often inaccurately called the last audit of Fort Knox. 15919 Avenida Venusto, Apt. Tuesday March 22, 2016 13:20. The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." The usage of cookies and the collection of customer information by BullionStar is guided by our. While this sum is unreasonable, a crowdfunding campaign donated the total in less than 24 hours (strangely enough, the Mint never actually cashed Kooss check, and nearly all of the money was eventually refunded.). In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. Fort Knox is used to store a large portion of United States official gold reserves and occasionally other precious . 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 . An excuse was needed to break the seals. The first screen shots below are from a gold verification at Fort Knox in March 1998. Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. Treasury Secretary William E. Simon issued the invitation to Congressmen to inspect the gold at Fort Knox. Did The Dutch Central Bank Lie About Its Gold Bar List? I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself. Exhibit 2. 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. CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. The First Critical Observations", February 2017. 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. And the problem goes far beyond missing audit reports. 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. Let me show you an example of Fort Knox. 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? 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. 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. It was obvious that some of the records were missing (or not provided). In 1983 the OIG found out something was amiss with the audits performed 1974 1982. Liberty, Bush The Fort Knox Gold was last audited in the 1950s. Engraved Prints, Shop All Gift Next was the GAO; unfortunately they couldnt deliver anything I was looking for. In October 1984, 4,136,046.924 fine ounces gold was reaudited. 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. Whos Supplying? Text Alerts, Contact Facilities, Production Fort Knox is also on the list of these 10 forbidden places that no one is ever allowed to visit. *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. for Dads, American Women's History Coins & Revealed: The top 10 fastest-growing destinations for UK pensioners retiring overseas. This is largely due to a well-circulated rumor during the 1970s that the vaults had been emptied by elites in banking in government, either leased out or confiscated. . In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through.
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