Then let's raise a glass to a slower, quieter 2022 . Koos Jansen. The audit will be performed by a committee of auditors from the U.S. General Accounting Office (GAO) and the Department of the Treasury. Domestic and International Shipping from Singapore Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. Exhibit 7.3. . By Jennifer Liberto @ CNNMoney June 24, 2011: 11:58 AM ET. One particular compartment with 19,800 gold bars was recorded as being moved in the 1996 audit, yet was checked again in 1998 (with the same 19,800 gold bars) with no reference to the fact that this is almost certainly the same sample of gold inspected two years prior. PDF ICMI Gold Mining Audit Report - International Cyanide Management Code Fort Knox opens famed vault to civilians after 40 years As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. Your request was received in this office on March 3, 2015 and assigned FOIA case number RD 45578. 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. 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. Exhibit 2. However, in some instances, the rationale for moving gold from one compartment to another proved elusive. when was the last time fort knox was audited China Net Imported 1,300t Of Gold In 2016, Why SGE Withdrawals Equal Chinese Gold Demand And Why Not, Trade in and out of physical gold and silver, BullionStar Perspectives - Rick Rule - Wisdom and Insights from Legendary Mining Investor, Buy for Vault Storage in the United States, Domestic and International Shipping from Singapore, and 1980 summary, released by the GAO 10/1981, the vault had to be opened twice more in the presence of the Joint Sealing Committee and the gold reevaluated, assaying 899 to 901 per mille or 915 1/2 to 917 per mille, Where Did The Gold In Fort Knox Come From? His advice to me was to try at the General Accounting Office (GAO) and National Archives for more reports. Miles Franklin sponsored this article by Gary Christenson.The opinions are his, and they are not investment advice. 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. Revealed: The top 10 fastest-growing destinations for UK pensioners retiring overseas. Lets recap what weve studied in the previous posts. Lets have a look. We are a community that loves Silver, Period. These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. In June 1975, the Treasury Secretary authorized and directed a continuing audit of U.S. Fort Knox is Probably Empty, Gold Missing - Stillness in the Storm The assay tests found no irregularities. The last time anyone had access to inspect the deposits was on September 23, 1974. . At various times, it has been used to store other valuable items, such as the Declaration of Independence, one of the four copies of the Magna Carta, and the crown jewels of foreign nations. *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. A separate post will be dedicated to KPMG. fort knox crisis phone numbers. Coins, Precious PBOC Gold Purchases: Separating Facts from Speculation. 2023 DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. 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. Liberty, Bush A barrel is worth about $1,200 or $2.88 per pound which is 10-18 times the value of U.S. crude oil. The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. Ron Paul - Audit Fort Knox (the gold dipped tungsten bars) " He told an audience in Louisville, "I assume the gold is still there.". Medals, Treasury and Fort Knox Is So Mysterious And Heavily Guarded, Only One US President So once you have done that, and that seal remains unbroken, then I am not sure what other benefit there would be to going back into it at that point. Koos mainly provides unique insights about Chinese gold market. 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. Jansen is a longtime gold insider and journalist reporting on, for example, the goings-on of the incipient Shanghai Gold Exchange (SGE). Because there remains so little information about the contents of the gold vault, a lot of theories crop upregarding what's really inside Fort Knox. At the congressional hearing of the Gold Transparency Act (H.R. 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. The novel begins: 7:20 am, September 11, 2015. 312 tonnes of the total is 4 %. The U.S. gold reserves at Fort Knox are broken into different numbered compartments within the gold vault. Great! As weve seen thus far there are many problems with the official story everything is fine, all the US official gold reserves all audited. 45 New Bridge Road, Singapore 059398 Singapore A Fort Knox physical gold audit in 1953 was anything but full, neither was the famous audit in 1974. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. Sevenreports are missing. On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. when was the last time fort knox was audited - hugs.finance Other problems sound laughable in their incompetence. Mnuchin's PR Visit to Fort Knox proves nothing about the - GoldSeek Test yourself with this Cockney Rhyming Slang quiz. 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. Next was the GAO; unfortunately they couldnt deliver anything I was looking for. The Mint and the GAO were sanctioned to audit a portion of the Treasury's gold. 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. Only One President Has Ever Been Inside Fort Knox Why Is It - Ranker There was nothing left to do but submit a Freedom Of Information Act (FOIA) request. 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. More than half of the total reserves4,582.95 tonnes, or 147,341,870.463 fine troy ounces of goldare kept at Fort Knox, while more than 1,000 tonnes are stored at West Point and Denver each. US Government Lost 7 Fort Knox Gold Audit Reports "Glad the gold is safe!". Rep. Paul Calls for Gold Audit, Questions Whether Fort Knox Is Empty July 1986 12,477,777.638 [this number Icopied from the 1986 report]. Secretary of the Treasury Steven Mnuchin visited Fort Knox on August 21. Government-owned gold for which Treasury is accountable. By using our website, you accept that cookies are used. 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. Shipping within the United States The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. I am glad to report that everything at the depository looked to be secure and in order. 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.). The Great American Disaster: How Much Gold Remains In Fort Knox? Gold Reserve Transparency Act would count all the gold held by - Medium U.S. Mint Releases Fort Knox Audit - CoinWeek In 1953, the US Treasury Department audited Fort Knox, but only around5% of the goldunderwent testingfor purity. I decided to send an email to the FOIA online Help Desk to ask what happened to my request. 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. In August 2017, US Treasury Secretary Steve Mnuchinvisited the gold vault at Fort Knox and, along with a few other politicians, surveyed the site. noting that it was "over 20 years" since the last one. Fort Knox - RationalWiki 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. The last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. 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. Answer (1 of 2): Who knows but it is rumored that the majority of the gold in Fort Knox no longer exists! In October 1984, 4,136,046.924 fine troy ounces of gold were reaudited at the United States Mint, Denver. 147.3 million ounces of gold is stored at Fort Knox. 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. BY . Pursuant to that order, the Committee for Continuing Audit of the U.S. 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. 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. In 1936, Fort Knox military base was chosen as the site to build a bullion depository to store this gold. Matt Bevin. 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). Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. But by 1986, you had 97 percent was audited. : 201217896Z About 000% of them were weighed. 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. Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. There Is No Proof All Gold Is In Fort Knox. The last time that Congress audited it was 2019. 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. The next screen shot is from the reply by the FOIA help desk on May 6, 2015. 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. 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. Fort Knox Looted of 7,000 Tons of Gold in 1973-1974 says 1981 Article! Fort Knox sits on over 100,000 acres and houses 30,000 military personnel. 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). He ought to have known precisely how many pages were needed and presumably where to find them. Connecting thereto, from Thorsons opening statement: My office began conducting annual audits of the gold reserves in Fiscal Year 1993. 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. Military/Civilian clock Examples of Civilian/Military time conversion. In October 1984, 4,136,046.924 fine ounces gold was reaudited. Scales at the Mint used to weigh the bars often didnt work properly. Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. Gold verification at Fort Knox March 1998, page 1. ByI forget which date it was, I believe by 1986, wehold on just one second here, I got it. 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. According to the excel sheet the US Mint stores 312 tonnes in 9999 fine gold, spread over 3 depositories; Fort Knox 15 tonnes, Denver 100 tonnes, West Point 197 tonnes. Inspection of Gold at Fort Knox | U.S. Mint - United States Mint 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. 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. 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). Then, something very strange happened in 1983. In the meantime I will fire several new FOIAs at the Office of the Inspector General and others. 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. Secretary Mnuchin's statements were not helpful. In addition to the gold bricks, Bevin said he got to hold a 1933 double eagle, a $20 gold coin that was never circulated. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Buy, ship and store bullion with BullionStar in/from different countries. Are you already an expert in everything America? For instance, sample sizes used for assaying were conspicuously small. 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. Thats everything we have, or are aware of. Also, the assay test results from last year's gold audits at Fort Knox and West Point were The comments below have not been moderated. 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. "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". We will discuss the remaining 4 audit reports at once, as they are very similar. Ron Paul wants gold at Fort Knox audited - Jun. 24, 2011 - CNNMoney 4. Jun 5th, 2022 . Do you think it would be worthwhile, at least, to inventory and assay this portion of the Mint-held gold? Two tetrahedron-shaped chips were removed form the top and bottom of each bar assayed. 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. The other two-thirds, however, have not been inventoriedthat is according to my understandingor assayed since somewhere between 1975 and 1986. Part One, We use cookies to enhance the user experience and to analyse traffic. Compared to the samples taken in the 1950s and 60s, the standards for the integrity of the sample size had fallen sharply. Is There Really Any Fort Knox Gold - Historic Mysteries Try Army A-Z. For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. and until 2010, every member of . Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. Several more examples of these blurry situations are shown in the released documents. I also want to assure you that the physical security over the gold reserves is absolute. Weve focused on the first audits of the gold stored by the US Mint. 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. Conspiracy Watch: All the Gold in Fort Knox - Mother Jones Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. 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.. Instead, I was advised to contact the Treasury. The Congressional inspection adheres to the new open door policy of the government announced by President Ford. 35+ Mind Blowing Fort Knox Facts How Many Did You Know The Mint estimated that as much as one-third of the gold reserves were examined during this period. Ideas, Gifts for Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! Buy for Vault Storage in New Zealand US Mint Releases New Fort Knox "Audit Documentation". The First Site, Coin For your information, we contacted a librarian at the Treasury Department who informed us that reports from Committee for Continuing Audit of the U.S. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. Mint Medals, Shop All Paper 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. 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. This is remarkable. Prince Andrew chuckles as he encounters female jogger on way to his weekly Windsor horse-riding trip. Whos Supplying? ALL COIN PROGRAMS, National Purple Heart Hall of One of the mostsecure andinaccessible places in the world, the facility once held the Declaration of Independence and Bill of Rights. I left school at 16 with six GCSEs - and became a self-made millionaire. 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). On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued. Let me show you an example of Fort Knox. Fort Knox is used to store a large portion of United States official gold reserves and occasionally other precious . 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. As will conclusions and speculation. Who was the last person to actually see the gold in Fort Knox? Review of US Bullion Depository (Fort Knox) gold audits - plenty of teaching assistant pay netmums; when was the last time fort knox was audited. Kids, Gifts for Learn how your comment data is processed. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. Fort Knox | fort, Kentucky, United States | Britannica Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, U.S. Daily free rolls! 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. A waiting list may be . 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. Fort Knox Gold - History of Fort Knox | BullionByPost The target this time is the United States Treasury Assay Office in New York . Try Army A-Z . From the 1985 report: United States Mint All Rights Reserved. Visitor Information :: U.S. Army Fort Knox: Gold Standard Army Installation US citizens were required to sell their gold bullion - bars and coins - back to the State. Gold verification at Fort Knox March 1998, page 3. 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). 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. 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. Save my name, email, and website in this browser for the next time I comment. Although the quality of the gold in the custody of the Federal Reserve Bank of New York cannot be readily assayed,. It was nothing more than a peek-a-boo glance at the gold in fine Hollywood style. In 1974, WCPO Anchor Al Schottelkotte got a rare look inside the gold vault at Fort Knox, Kentucky. 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. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. Fort Knox: "Glad Gold Is Safe!" - Miles Franklin Company Registration No. when was the last time fort knox was audited Official joint seal number 932 put in place on September 2, 1982, under the continuing audits of U.S.-owned goldstored at the Mint. Gold at Fort Knox? Donald Trump Doesn't Think So | Kitco News When thinking about these re-audits, threescenarios pop to mind: Why else wouldso much gold have been re-audited? It was obvious that some of the records were missing (or not provided). Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . 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 vault can withstand guns, blowtorches, and other incendiary devices. By and large, the vast majority of the verification is done by checking Official Joint Seals. Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. All your favorite.50 games all in one club! Join FORT KNOX code Axykp Join FORT KNOX code Axykp! when was the last time fort knox was audited. 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. Circulating Each and every bar there should be assayed in a full, independent audit.