when was the last time fort knox was audited when was the last time fort knox was audited

: 201217896Z Fort Knox, Kentucky is an Army base with more than one hundred thousand acres stretching across three counties. By and large, the vast majority of the verification is done by checking Official Joint Seals. ByI forget which date it was, I believe by 1986, wehold on just one second here, I got it. It's going on right now as I say these words. 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. The audits were conducted in accordance with the revised audit guidelines that required a statistical sample of gold melts within randomly selected compartments at the facilities. Fort Knox is supposedly filled with 400 oz. After some correspondence back and forth I finally got an email saying my FOIA was exported out of FOIAonline because myrequest was for access to historical records. 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. Dollars, Native Talkers Medals, Military Conclusion. The last time Fort Knox had opened its vault to civilians was more than 40 years earlier. An overview starting from 1953: *In the 1953 report we could read 26 bars (0.00002 % of the total stash at that time) were assayed from bore samples. How can the IG be positive if he did not have access to the most basic documentation? 147.3 million ounces of gold is stored at Fort Knox. Matt Bevin. Military/Civilian clock Examples of Civilian/Military time conversion. Of course,strange things have been stored in the vault, like morphine and opiumduring the early '90s. Then let's raise a glass to a slower, quieter 2022 . "good delivery" gold bars. Fort Knox: "Glad Gold Is Safe!". Senate Majority Leader Mitch McConnell and other Kentucky politicians went to the United States Bullion Depository at Fort Knox for the first time since 1974, Reassurance: Treasury Secretary Steve Mnuchin tweeted out thanks to the US Mint and confirmed that the gold is all safe. Government-owned gold for which Treasury is accountable. The reports were not present at the National Archives, the OIG or at the Treasury Department. . 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. The audit, which includes facilities, roads, parking lots, fences and utilities that are each valued at $250,000 or more, involved 1,053 sites and encompassed researching, identifying, reviewing . Answer (1 of 2): Who knows but it is rumored that the majority of the gold in Fort Knox no longer exists! Several more examples of these blurry situations are shown in the released documents. It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. 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. Interactive map reveals when you may see SNOW. The Fort Knox facilitys reputation is thanks to its world-renowned system of security measures, from countless cameras to U.S. Mint Police guards, military helicopters, land mines, fences of barbed and electric wire, and a virtually impregnable vault door. Koos Jansen is a precious metal analyst from the Netherlands. The last time anyone had access to inspect the deposits was on September 23, 1974. . 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. . An excuse was needed to break the seals. So, what's really inside Fort Knox? 'It's not even the annual funding level for some of our large departments in the federal government,' he said. Fort Knox is in Romeo (R) time. As will conclusions and speculation. and until 2010, every member of . 35 % first buy in bonus! 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. Coins, Precious 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. Senator from Kentucky, where Fort Knox is located. (Back to top) CIVILIAN TIME MILITARY TIME CIVILIAN TIME MILITARY TIME 12:01 AM 0001 5:00 PM 1700 (Seventeen hundred) 5:00 AM 0500 10:00 PM 2200 10:00 AM 1000 (Ten hundred) 11:30 PM 2330 12:00 PM (Noon) 1200 12:00 AM . 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 performing the audit, the gold bars are physically moved from one vault compartment to another. The audit announced, however, would include just 20% of the gold. 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. The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. ALL COIN PROGRAMS, National Purple Heart Hall of 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. 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. 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. It was also the first visit by a serving US Treasury Secretary since 1948. According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. To access the gold vault at Fort Knox, you'd need to make your way through a network of security measures. These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. Then, something very strange happened in 1983. Day trip: Steve Mnuchin and his wife Louise Linton touched down in Kentucky earlier on Monday prior to the Treasury Secretary's tour of Fort Knox. The vault can withstand guns, blowtorches, and other incendiary devices. With regardto my quest for all reports, lets have a look what US government departments could not deliver whatI was looking for: First was the Counsel to the Inspector General Department of the Treasury. Fort . I also want to assure you that the physical security over the gold reserves is absolute. As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. He attempted to pinpoint how the Treasury Department verifies that the gold in its vault is both present and real. The assayer is unknown and there was no assay report included in the audit report. No need to read about these fascinating facts and important events that have shaped the U.S. as we know it today. In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). However, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. However, how trustworthy is this system of accounting? "We have approximately $200 billion of gold at Fort Knox," said Mnuchin. Audit report Fort Knox 1981. Select stock location for your desired country in the dropdown to view our inventory available in that country. The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. Republican frontrunner Donald Trump hinted at the idea that there just might be no gold in the U.S. The initial intention is clear to us, the FRBNY was supposed to be audited; the gold to be counted, weighed, assayed and the compartments to be sealed (these were the audit procedures of the continuing audits committee). 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. The gold at Fort Knox is stored in one of the most secure facilities in the world. A barrel is worth about $1,200 or $2.88 per pound which is 10-18 times the value of U.S. crude oil. Ideas, Gifts for By Jennifer Liberto @ CNNMoney June 24, 2011: 11:58 AM ET. One wonders: was this a simple oversight or some kind of conscious obfuscation effort? 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 %. In October 1984, 4,136,046.924 fine troy ounces of gold were reaudited at the United States Mint, Denver. 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. Weve focused on the first audits of the gold stored by the US Mint. But theories exist regarding other possiblecontents of the vault -like the body of Jimmy Hoffa. The New Year kicked off . di *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. In October 1984, 4,136,046.924 fine ounces gold was reaudited. The BGFO and Mint staff was replaced by the OIG and the revised audit procedures were invented as a reason to open several compartments. In short, the US National Archives could not extradite the 7 audit reports I requested. Buy for Vault Storage in the United States The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. When I logged in at my account at the FOIA website, I saw my request had disappeared. Coin 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. Shipping within the United States Located in Kentucky, Fort Knox is a United States Army base whichhouses most of the US's gold reserves. However, there has been considerable doubt over the years as to whether the depository actually held any gold. The answer is, he cant. According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! At this stage I havent been able to get my hands on any assay report from 1974 1986. The gold is held as an asset at a value of $42.22 per ounce. 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. On top of this, a decades worth (1993-2003) of Joint Seal inspections from the Denver and West Point depositories are not accounted for. 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. 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. 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? He said this, but there is no proof. 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. The assay tests found no irregularities. It was a magnificent golden sunrise that inspired visions of glory, wealth, and beauty. 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.. Official Joint Seal inspection records from Fort Knox, June 1998 (courtesy of Koos Jansen through Freedom of Information Act). As a result, the gold at the Bank [FRBNY] is considered unaudited. 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. Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. 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. there has not been anyone allowed access to confirm the gold amounts that are supposedly stored at the Fort. Liberty, Bush Alaska, USA . Pursuant to that order, the Committee for Continuing Audit of the U.S. Lets recap what weve studied in the previous posts. Koos Jansen. As weve seen thus far there are many problems with the official story everything is fine, all the US official gold reserves all audited. China Gold Import Jan-Sep 797t. Two tetrahedron-shaped chips were removed form the top and bottom of each bar assayed. Thank you for signing up with United States Mint! However, no outside experts were allowed in during the audit, and only about 5% of the gold was actually tested. The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion. Ron Paul worries Fort Knox gold is gone. Save my name, email, and website in this browser for the next time I comment. Built in 1936, security access for the facility make it difficult to get access. Small quantities of gold are removed to test the purity during regularly scheduled audits. 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. "Glad the gold is safe!". Currently the Office Inspector General of the Treasury is responsible for the audits of the gold reserves at the US Mint. In June 1975 the Secretary of the Treasury authorized the continuing audits of the US owned gold stock. 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. The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement."