when was the last time fort knox was audited

These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. 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. Coin Maybe a room or two full of gold but the rest is gone. Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. 1126, San Diego, CA, 92128, USA . ( 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. Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. 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. When the mint finally produced the audit documentation, Jansen received 134 lightly redacted pages (rather than the estimated total of 1,200 pages). No irregularities were found. Although the quality of the gold in the custody of the Federal Reserve Bank of New York cannot be readily assayed,. In performing the audit, the gold bars are physically moved from one vault compartment to another. Same story at the US Mint and US National Archives. Domestic and International Shipping from Singapore This is what it said: This is in response to your March 2, 2015 Freedom of Information Act (FOIA) request for records in the custody of the National Archives and Records Administration (NARA). The First Critical Observations. Engraved Prints, Shop All Gift Coincidentally almost all the gold assayed by the OIG from 2004 2008 was 9999 fine. Talkers Medals, Military Buy for Vault Storage in the United States For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. However, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. No photographs were allowed, of course. The Congressional inspection adheres to the new open door policy of the government announced by President Ford. 312 tonnes of the total is 4 %. 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. 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. Gold verification at Fort Knox March 1998, page 3. 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! Pursuant to that order, the Committee for Continuing Audit of the U.S. Other problems sound laughable in their incompetence. 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. Ron Paul introduced a bill that would require the Fed to manually audit every U.S.-owned gold . Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . Monetary Gold Stock of the United States When will the Beast from the East be at YOUR door? The Eisenhower Administration Conducted The Last Audit Of Fort Knox In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. 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. In the meantime I will fire several new FOIAs at the Office of the Inspector General and others. Jun 5th, 2022 . Circulating 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 Medals, Email & In October 1984, 4,136,046.924 fine troy ounces of gold were reaudited at the United States Mint, Denver. His advice to me was to try at the General Accounting Office (GAO) and National Archives for more reports. Fort Knox is supposedly filled with 400 oz. ', 'All I will say is that it is freakishly well secured,' he said. 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. July 21, 2017 7:24AM. 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. GOLD, RESERVES, REPORT(S), AUDIT, COMMITTEE FOR THE CONTINUING AUDIT, COMMITTEE, INSPECTOR GENERAL, ASSISTANT SECRETARY OF THE TREASURY FOR INTERNATIONAL AFFAIRS, BUREAU OF FISCAL SERVICE, and BUREAU OF GOVERNMENT FINANCIAL OPERATION. This would last until 2010 when the Armor School was relocated to Fort Benning, Georgia. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. Built in 1936, security access for the facility make it difficult to get access. However, how trustworthy is this system of accounting? On this sheet 5 physical gold audit reports are listed, framed in red. The Mint and the GAO were sanctioned to audit a portion of the Treasury's gold. Save my name, email, and website in this browser for the next time I comment. From 1993 to 2008 the remaining 3 % of the gold reserves stored at the US Mint hasbeen audited I assume. China Gold Import Jan-Sep 797t. when was the last time fort knox was audited. Matt Bevin. Koos mainly provides unique insights about Chinese gold market. An excuse was needed to break the seals. Learn how your comment data is processed. There was nothing left to do but submit a Freedom Of Information Act (FOIA) request. Did audit reveal missing gold . BY . Given all the protection, it seems obvious that billions of dollars worth of gold (or something) indeed resides at Fort Knox. 147.3 million ounces of gold is stored at Fort Knox. "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". Although gold bars tested to be out of tolerance during a Fort Knox audit in 1977 at a sample size of 2 %, by 1998 the sample size had been further debased to 0.53 %. Lets have a look. Metal Coins, back to 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. Moving on to the assay tests conducted at the US Mint. Audit report Fort Knox 1981. Ron Paul worries Fort Knox gold is gone. I left school at 16 with six GCSEs - and became a self-made millionaire. Currency, Shop All In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. Quoting from the 1981 report: Gold at the Federal Reserve Bank of New York is audited periodically by examiners of the Board of Governors of the Federal Reserve System, Members of the Committee for Continuing Audits of United States Government-owned Gold representing the Mint and BGFO observed the audits at the invitation of the Board and the Federal Reserve Bank. The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. Jansen found instances in which the Treasurys auditors failed to follow the governments own procedures for the auditing process. A separate post will be dedicated to KPMG. I doubt an attempt to submitting a FOIA request directly to the Treasury Department will bring me anything; likely it will be a waste of time as I had already contacted all possible government departments separately, which could not deliver me the reports I was looking for despite none of them was unwilling to help me. The missing audit reports and assay reports feed into our skepticism. One of the mostsecure andinaccessible places in the world, the facility once held the Declaration of Independence and Bill of Rights. Then, something very strange happened in 1983. The other two-thirds, however, have not been inventoriedthat is according to my understandingor assayed since somewhere between 1975 and 1986. 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. Medals, Treasury and 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? Fort Knox, Kentucky is an Army base with more than one hundred thousand acres stretching across three counties. 213K subscribers in the Wallstreetsilver community. I am glad to report that everything at the depository looked to be secure and in order. Click on the links for more information:Buy for Vault Storage in Singapore 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 . 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. All News, Articles, Commentary and Opinions are contributed by the author(s), with or without compensation, who are solely responsible for the content, and do not represent CoinWeek Management. Secretary of the Treasury Steven Mnuchin visited Fort Knox on August 21. Try Army A-Z . ALL COIN PROGRAMS, National Purple Heart Hall of 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 assayer is unknown and there was no assay report included in the audit report. 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). After writing it Ive been trying to collect all audit reports dating from1974 1986. 4. 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. I will, however, submit a couple of new FOIAs at the US government regarding gold audits. I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself. Prince Andrew chuckles as he encounters female jogger on way to his weekly Windsor horse-riding trip. In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. 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. Moreover, it showed a number of (at best) inconsistencies in how the mint conducts its bullion inspection for auditing purposes. 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. The only audit that has ever been done of the gold inside Ft Knox was done days after Dwight Eisenhower became President in January of 1953. 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). Koos Jansen is a precious metal analyst from the Netherlands. Coins, Precious The reports were not present at the National Archives, the OIG or at the Treasury Department. The event, Sept. 23, 1974, is often inaccurately called the last audit of Fort Knox. Your browser is out of date. A movie producer before becoming treasury secretary, Mnuchin told a group of Louisville business leaders earlier in the day it was important for him to see the gold to attest that 'it is part of our national assets. The gold stored in these compartments would get moved around if samples were taken for assaying during the audit. More than half of . Fort Knox history. According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. Small quantities of gold are removed to test the purity during regularly scheduled audits. That shipment required a convoy of 33 15-ton trailers to move the gold. In an audit conducted at Fort Knox in 1953, 88 ingots were counted for verification. Did The Dutch Central Bank Lie About Its Gold Bar List? : 201217896Z He said it took 'quite a bit of time' to get in and out of the facility, and said officials had to cut a seal to open the vault for them. For instance, sample sizes used for assaying were conspicuously small. 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. However, there has been considerable doubt over the years as to whether the depository actually held any gold. Bear in mind that another FOIA request for internal email correspondence relating to the initial inquiries revealed that the official who provided this exaggerated estimate of how difficult the task of producing the documents would be was an auditor himself and among the authors of the documents that Jansen sought in the first place! United States Mint All Rights Reserved. It basically coveredby 1986, 97 percent of the Government-owned gold held by the Mint had been audited and placed under joint seal. This document also contains a summary of the 1980 audit which, by the way, isnt less detailed than the full 1981 report. Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! 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. 'It's not even the annual funding level for some of our large departments in the federal government,' he said. The government supposedly maintains over 8,100 metric tonnes of the yellow metal in its reserves, spread out across three main bullion depositories (for reference, the second-largest gold reserves owned by Germany total less than half of the U.S. stockpile). The Fort Knox facility was opened within the year, and took its first shipment of gold in 1937. At the end of Fiscal Year of 2008, all 42 compartments had been audited by either the GAO, the Committee for Continuing Audit of the U.S. Donald Trump Doesn't Think So. Exhibit 7.1. 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. However, as Ive written in my post Where Did The Gold In Fort Knox Come From? Government-owned Gold performed annual audits of Treasurys gold reserves from 1975 to 1986, placing all inventoried gold that it observed and tested under an official joint seal. & Sales Figures. 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. 15919 Avenida Venusto, Apt. Also, the assay test results from last year's gold audits at Fort Knox and West Point were I also want to assure you that the physical security over the gold reserves is absolute. fort knox crisis phone numbers. Compared to the samples taken in the 1950s and 60s, the standards for the integrity of the sample size had fallen sharply. The gold is held as an asset at a value of $42.22 per ounce. Do you think it would be worthwhile, at least, to inventory and assay this portion of the Mint-held gold? I did read one time that the queen of England a. When I logged in at my account at the FOIA website, I saw my request had disappeared. 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. Fort Knox is in Romeo (R) time. After the gold was audited by the Continuing Audit committee all compartments were placed under Official Joint Seal. The results of the assays by Ledoux & Company and White Sands Missile Range presented by the OIG at the congressional hearing show nearly all 9999 fine gold (see exhibit 3, or read page 62 to 124 from this document). 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. 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. previous, Kids In an interview, McConnell said he could not say much about the visit for security reasons. 45 New Bridge Road, Singapore 059398 Singapore Experts weigh in as tremors hit Wales, Cornwall and the Are YOU eating the right colours? Buffalo Coins, American Eagle There was no assay report included in the audit report. The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . To access the gold vault at Fort Knox, you'd need to make your way through a network of security measures. 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. It saves time and labor costs. 1495,not enacted) in 2011 the Inspector General (IG) of the Treasury presented a case all is fine, but all is not fine. The last Congressional visit prior to this occurredin 1974. Telephone: (502) 624-2386. 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. By using our website, you accept that cookies are used. It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it's "a possibility" that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank. Page Last Modified: 8/26/19, 2:56 PM Fort Knox, KY. Our Nation's Gold Standard Army Home. You may consider submitting a FOIA request directly to the Treasury Department. Fort Knox Internal Review and Audit Compliance. 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. Buy, ship and store bullion with BullionStar in/from different countries. Shipping within the United States "good delivery" bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong. Not that it would be easy to even make it this far, but the door to the vault is made of steel and . eonon change home screen. Currently the Office Inspector General of the Treasury is responsible for the audits of the gold reserves at the US Mint. In 1977 the New York assay office, which is a subsidiary of the US Mint, conducted the assays. & Medal Programs, Tours GAO stands for General Accounting Office, OIG stands for Office of Inspector General. 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. Our staff conducted a search using the National Archives Holdings Management System under the following records group numbers: RG 50 Treasurer of the United States, RG 56 General Records of the Department of the Treasury, RG 82 Federal Reserve System, RG 101 Office of the Comptroller of the Currency, RG 104 U.S. Mint, and RG 425 Financial Management Service. 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? Bags, & Boxes, Code "We have approximately $200 billion of gold at Fort Knox," said Mnuchin. 'It just kind of came up as a result of a casual conversation,' McConnell said. The controversial 'trauma expert' interviewing Prince Harry: Gabor Mat was warned by the Canadian A big Beckham birthday! Welcome to the Coronation! It was decided to destroy several audit and assay reports and no less than 1,700 tonnes needed to be re-audited. For the other years we dont know whatoffice performed the checks. Test yourself with this Cockney Rhyming Slang quiz. Meanwhile I was fortunate to find the 1981 audit report at the website The Golden Sextant fromReg Howe. The BGFO and Mint staff was replaced by the OIG and the revised audit procedures were invented as a reason to open several compartments. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. Secretary Mnuchin's statements were not helpful. 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. HOME; EVENTS; ABOUT; CONTACT; FOR ADULTS; FOR KIDS; accident on 9w marlboro, ny today If official documents come to surface I will report accordingly. 'So many dead. Thats 6 down, 7 more to go. As the last days tick away, let's take a moment to recap the top 12 stories at Fort Knox that shaped our 2021. However, if that intruder had turned to the west he would have . Kinross - Fort Knox Mine April 22nd, 2021 Signature of Lead Auditor Page 2 of 47 . Each and every bar there should be assayed in a full, independent audit. Questions: Submitted to: . 2/ As of September 30, 1982, 100 percent of the gold stored at the depository [Fort Knox] was audited under the initial continuing audit program. 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. Fort Knox sits on over 100,000 acres and houses 30,000 military personnel. 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 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. The OIG audited 3 % from 1993 2008. These CDCs offer full-day care, part-day, and hourly care. 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. 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. The Treasury document says it would cost about $15 million to conduct an audit. But Bevin, speaking on WHAS radio, divulged a few more details. Inside the lonely life of 'pavement killer': Neighbours reveal how 'childlike' disabled woman jailed for Tragedies of Everest: The adventurers forever frozen in ice after losing their lives scaling the world's 'Why the last-minute delay?' There Is No Proof All Gold Is In Fort Knox. 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. Jansen is a longtime gold insider and journalist reporting on, for example, the goings-on of the incipient Shanghai Gold Exchange (SGE). 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. It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). 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. Tiger Woods unleashes his lawyers on porn site after it Bannon is 'going to war' against Jared, 'crying Ivanka' and A whole hue world! Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. Exhibit 1. The public may never know. So, what's really inside Fort Knox? 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. The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion. 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. but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . 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. It was obvious that some of the records were missing (or not provided). 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. The process would take about 30 minutes to verify the gold content of each bar, or 350,000 man hours; to do that . He ought to have known precisely how many pages were needed and presumably where to find them. 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! 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. 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. 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. The assay tests found no irregularities. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. Share this page: Army.mil. According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! Republican frontrunner Donald Trump hinted at the idea that there just might be no gold in the U.S. On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said.