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. The event, Sept. 23, 1974, is often inaccurately called the last audit of Fort Knox. 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 Operation . So, what's really inside Fort Knox? The gold at Fort Knox is stored in one of the most secure facilities in the world. 15919 Avenida Venusto, Apt. At its peak, 649.6 million ounces were stored at Fort Knox on December 31, 1941. Ron Paul worries Fort Knox gold is gone. 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! Kinross Gold Corporation's Fort Knox Mine Achieves Fifth Certification He said this, but there is no proof. & Medal Programs, Tours After 40 years, Fort Knox opens famed vault to civilians There was nothing left to do but submit a Freedom Of Information Act (FOIA) request. In 2008, presidential candidate Ron Paul unsuccessfully called for an audit of the US Federal Reserve and Fort Knox,but his skepticism echoed that of other conspiracy theorists. In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. Miles Franklin sponsored this article by Gary Christenson.The opinions are his, and they are not investment advice. 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. President Reagan last spring demanding that this be looked into immediately. Conspiracy Watch: All the Gold in Fort Knox - Mother Jones For instance, sample sizes used for assaying were conspicuously small. 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. The vault can withstand guns, blowtorches, and other incendiary devices. 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.. Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. There Is No Proof All Gold Is In Fort Knox. If we carefully read the scarce audit reports available to us, wenotice the audit procedures were revised in 1983. As will conclusions and speculation. As required under the Cyanide Code, the mine was again audited against ICMI's Verification Protocol by independent professional third-party auditors within three . Audit report Fort Knox 1981. I would like to stress the importance of this failure to deliver the audit reports of 97 % of the official US gold reserves by the department directly responsible at this point in time. It saves time and labor costs. In October 1984, 4,136,046.924 fine ounces gold was reaudited. However, in some instances, the rationale for moving gold from one compartment to another proved elusive. More anomalies with regard to the audits of the US official gold reserves will be discussed in forthcoming posts. In 1977 the New York assay office, which is a subsidiary of the US Mint, conducted the assays. Fort Knox - RationalWiki Why might the government entrust such inexperienced employees with this important task? At Fort Knox, we are about people - great service members, outstanding civilians . Fort Knox is also on the list of these 10 forbidden places that no one is ever allowed to visit. Coin Currently the Office Inspector General of the Treasury is responsible for the audits of the gold reserves at the US Mint. Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. 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? We are no longer accepting comments on this article. In 1974, WCPO Anchor Al Schottelkotte got a rare look inside the gold vault at Fort Knox, Kentucky. The coin bars topic, which ties together with the existence of the US official gold, deserves a thorough study to be expanded upon in a separate post. Did audit reveal missing gold . Fort Knox is supposedly filled with 400 oz. Exhibit 1. The First Critical Observations. 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. By Everett Millman Gainesville Coins . Secretary Mnuchin's statements were not helpful. 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. 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. The BGFO and Mint staff was replaced by the OIG and the revised audit procedures were invented as a reason to open several compartments. Thats everything we have, or are aware of. 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. In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). Engraved Prints, Shop All Gift The comments below have not been moderated. Mnuchin's PR Visit to Fort Knox proves nothing about the - GoldSeek 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. 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. 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? July 1986 12,477,777.638 [this number Icopied from the 1986 report]. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . Small quantities of gold are removed to test the purity during regularly scheduled audits. 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. www.smartaccess.us . It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. di Military/Civilian clock Examples of Civilian/Military time conversion. It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). US Government Lost 7 Fort Knox Gold Audit Reports Meanwhile I was fortunate to find the 1981 audit report at the website The Golden Sextant fromReg Howe. As a freebie trip for 4 select political insiders, last Monday's trip to Fort Knox was undoubtedly a memorable one . *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 assayer is unknown and there was no assay report included in the audit report. He tweeted " Glad gold is safe! The usage of cookies and the collection of customer information by BullionStar is guided by our. The gold is held as an asset at a value of $42.22 per ounce. Of course,strange things have been stored in the vault, like morphine and opiumduring the early '90s. *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. There can be no world reserve currency without appropriate gold reserves supporting it, providing essential confidence and credibility. Metal Coins, back to 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. The assayer is unknown and there was no assay report included in the audit report. 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. Fort Knox was thrown open on that Monday afternoon for about 2 hours to some 150 reporters and glad-handing politicians, crowding narrow passageways and elbowing each other for a . Tuesday March 22, 2016 13:20. And there is more, a lot more. 213K subscribers in the Wallstreetsilver community. Gold verification at Fort Knox March 1998, page 2. In June 1975, the Treasury Secretary authorized and directed a continuing audit of U.S. "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. 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. 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. Click on the links for more information:Buy for Vault Storage in Singapore 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 . According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited!
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