A congressional delegation and some journalists got a look at the gold in 1974. 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. Jun 5th, 2022 . Circulating In addition to facilities in West Point and Denver, the Fort Knox facilityknown as the U.S. Bullion Depositorystands out for its reputation as an impenetrable fortress. 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 fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic. Coins, Tours & It saves time and labor costs. When I logged in at my account at the FOIA website, I saw my request had disappeared. As a freebie trip for 4 select political insiders, last Monday's trip to Fort Knox was undoubtedly a memorable one . 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. It is surrounded by an active U.S. Army fort, guarded by the U.S. Mint Police and protected by layers of security measures, including a blast proof 22-ton door, 16,000 cubic feet of granite, 4,200 cubic yards of concrete, 750 tons of reinforcing steel and 670 . But, the OIG disclosed assay reports of the audits of 3 % of the US official gold reserves stored by the Mint at the congressional hearing in 2011 (exhibit 3 and 4). Ledoux & Company found no irregularities in 2004. Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. The gold at Fort Knox is stored in one of the most secure facilities in the world. Whos Supplying? When thinking about these re-audits, threescenarios pop to mind: Why else wouldso much gold have been re-audited? And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians. A barrel is worth about $1,200 or $2.88 per pound which is 10-18 times the value of U.S. crude oil. random nose bleed covid. 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 thebullion. There was no assay report included in the audit report. Questions: Talkers Medals, Military *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. They could only find 2 reports I didnt posses previously, of the audits conducted in 1985 and 1986. 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. Each and every bar there should be assayed in a full, independent audit. The answer is, he cant. 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. Senator from Kentucky, where Fort Knox is located. In 1974, WCPO Anchor Al Schottelkotte got a rare look inside the gold vault at Fort Knox, Kentucky. *Its likely 97 % of the audited gold by the continuing audits committee has not been assayed by an independent assayer. 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. Test yourself with this Cockney Rhyming Slang quiz. 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). COIN & MEDAL PROGRAMS, History of U.S. At this stage I havent been able to get my hands on any assay report from 1974 1986. It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. BY . The next screen shot is from the reply by the FOIA help desk on May 6, 2015. Furthermore, these audits found no exceptions of any consequence. The Fort Knox Gold was last audited in the 1950s. 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 Treasury document says it would cost about $15 million to conduct an audit. Telephone: (502) 624-2386. Matt Bevin. And the problem goes far beyond missing audit reports. Buy for Vault Storage in the United States 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. di ( 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. We are no longer accepting comments on this article. 1126, San Diego, CA, 92128, USA . It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). (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 . 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. 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. While primarily known as a vault for gold, the depository also held the Declaration of Independence and the U.S. Constitution during World War II. Other problems sound laughable in their incompetence. 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. The Fort Knox facility was opened within the year, and took its first shipment of gold in 1937. Not that it would be easy to even make it this far, but the door to the vault is made of steel and . US citizens were required to sell their gold bullion - bars and coins - back to the State. Tuesday March 22, 2016 13:20. At its peak, 649.6 million ounces were stored at Fort Knox on December 31, 1941. walked past guards armed with submachine guns and through a 3-foot thick steel door into the . Treasury Secretary William E. Simon issued the invitation to Congressmen to inspect the gold at Fort Knox. In an interview, McConnell said he could not say much about the visit for security reasons. The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." 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. Is the Coin Market Sleeping on Fairmont Collection Gold Coins? 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. Miles Franklin sponsored this article by Gary Christenson.The opinions are his, and they are not investment advice. Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, U.S. Between 1933 and 1937, this increased . The assay tests found no irregularities. By using our website, you accept that cookies are used. 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. 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. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. *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. The usage of cookies and the collection of customer information by BullionStar is guided by our. Coins, American In addition to the gold bricks, Bevin said he got to hold a 1933 double eagle, a $20 gold coin that was never circulated. The OIG audited 3 % from 1993 2008. And there is more, a lot more. ALL COIN PROGRAMS, National Purple Heart Hall of 'So many dead. An excuse was needed to break the seals. Inside the famed vaults at Fort Knox, Senate Majority Leader Mitch McConnell held a 27-pound gold bar in his hands Monday as part of the first civilian delegation to see most of the country's bullion reserves in more than 40 years. 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. 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 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 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. Secretary of the Treasury Steven Mnuchin visited Fort Knox on August 21. The last time that Congress audited it was 2019. 3. ', 'I assume the gold is still there,' he said. 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. 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. So, what's really inside Fort Knox? Click on the links for more information:Buy for Vault Storage in Singapore U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. 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. All your favorite.50 games all in one club! 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. 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. Exhibit 2. . Official records claimed 20,000 tons in the 1950s. The intention in 1975 was to audit the gold at the FRBNY, but then, a few years down the road the gold at the New York Fed was mysteriouslyexempt from the continuing audits program. Conclusion. Pursuant to that order, the Committee for Continuing Audit of the U.S. This post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits. fort knox crisis phone numbers. 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). Koos mainly provides unique insights about Chinese gold market. The audit announced, however, would include just 20% of the gold. Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. and until 2010, every member of . He tweeted " Glad gold is safe! ', 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, While primarily known as a vault for gold, the depository also held the Declaration of Independence and the U.S. Constitution during World War II. In June 1975 the Secretary of the Treasury authorized the continuing audits of the US owned gold stock. . 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 this sheet 5 physical gold audit reports are listed, framed in red. Sevenreports are missing. But by 1986, you had 97 percent was audited. 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. The One "Audit" Of Fort Knox. You may consider submitting a FOIA request directly to the Treasury Department. Then let's raise a glass to a slower, quieter 2022 . 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. Your browser is out of date. Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. 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. Connecting thereto, from Thorsons opening statement: My office began conducting annual audits of the gold reserves in Fiscal Year 1993. According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! Your request was received in this office on March 3, 2015 and assigned FOIA case number RD 45578. Medals, Email & previous, back to 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 last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. But Bevin, speaking on WHAS radio, divulged a few more details. 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. All the golden coins that were handed in supposedly accumulated to the greatest gold pile on earth. 4. Domestic and International Shipping from Singapore Fort Knox is used to store a large portion of United States official gold reserves and occasionally other precious . Exhibit 7.3. In 1983 the OIG found out something was amiss with the audits performed 1974 1982. 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). Buy for Vault Storage in New Zealand GAO stands for General Accounting Office, OIG stands for Office of Inspector General. Based on glaring conflicts among the Treasury's own documents, this staggering amount of gold disappeared without a trace from 1961 to 1971. . US Mint Releases New Fort Knox Audit Documentation. More from 1981 report: The continuing audit is being conducted on a cyclical basis because of the enormous quantity of gold to be handled and the related costs. ', 'All I will say is that it is freakishly well secured,' he said. Why might the government entrust such inexperienced employees with this important task? You requested access to audit reports of the United States Department of the Treasurys official gold reserves published by the Committee for Continuing Audit of the U.S. Us, ALL It basically coveredby 1986, 97 percent of the Government-owned gold held by the Mint had been audited and placed under joint seal. Exhibit 7.1. The Mint estimated that as much as one-third of the gold reserves were examined during this period.
Coty Airspun Naturally Neutral Vs Translucent, Coronal Polishing Classes Near Me, Jenn Schanz Biography, Articles W