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In October 1984, 4,136,046.924 fine ounces gold was reaudited. This post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits. Us, ALL A barrel is worth about $1,200 or $2.88 per pound which is 10-18 times the value of U.S. crude oil. Sets, Commemorative Currently the Office Inspector General of the Treasury is responsible for the audits of the gold reserves at the US Mint. When I logged in at my account at the FOIA website, I saw my request had disappeared. 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. GAO stands for General Accounting Office, OIG stands for Office of Inspector General. CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. From the 1985 report: when was the last time fort knox was audited Koos Jansen. Exhibit 7.3. It basically coveredby 1986, 97 percent of the Government-owned gold held by the Mint had been audited and placed under joint seal. At the congressional hearing of the Gold Transparency Act in 2011 Inspector General (IG) Eric Thorson stated: Before I discuss the details of the audits that are the topic of this hearing, I want to make one point very clear: 100 percent of the U.S. Governments gold reserves in the custody of the Mint has been inventoried and audited. In performing the audit, the gold bars are physically moved from one vault compartment to another. 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. Then let's raise a glass to a slower, quieter 2022 . All the golden coins that were handed in supposedly accumulated to the greatest gold pile on earth. After writing it Ive been trying to collect all audit reports dating from1974 1986. Ron Paul questions whether there's gold at Fort Knox, NY Fed According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! ', 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. Fort Knox Security: The Most Heavily Guarded Place - Reader's Digest 'So many dead. Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him. 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. A congressional delegation and some journalists got a look at the gold in 1974. At Fort Knox, we are about people - great service members, outstanding civilians . It's going on right now as I say these words. No photographs were allowed, of course. 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. As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. Fort Knox: "Glad Gold Is Safe!". 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. When will the Beast from the East be at YOUR door? My FOIA request had disappeared, or did it? 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. Exhibit 2. Shipping within New Zealand. American $1 Coins, SHOP No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. Fort Knox is Probably Empty, Gold Missing - Stillness in the Storm Your browser is out of date. Kids, Gifts for *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. This document also contains a summary of the 1980 audit which, by the way, isnt less detailed than the full 1981 report. 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. 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. 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. Experts weigh in as tremors hit Wales, Cornwall and the Are YOU eating the right colours? There Is Gold in Fort Knox | Newsmax.com The U.S. Government Spent Fort Knox GoldHundreds of Times In June 1975 the Secretary of the Treasury authorized the continuing audits of the US owned gold stock. Lets have a look. US Mint Releases New Fort Knox Audit Documentation. 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. 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? It was nothing more than a peek-a-boo glance at the gold in fine Hollywood style. Let me show you an example of Fort Knox. 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 . Mint Medals, Shop All Paper July 21, 2017 7:24AM. 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. Jun 5th, 2022 . What's really inside Fort Knox? The golden secrets of the US Bullion . Pursuant to that order, the Committee for Continuing Audit of the U.S. Between 1933 and 1937, this increased . 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. Thats everything we have, or are aware of. Fort Knox Scandal - Chapter 20 - Bill Still's Monetary Reforum 211 votes, 25 comments. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. Ledoux & Company found no irregularities in 2004. The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. Fort Knox facts. eonon change home screen. HOME; EVENTS; ABOUT; CONTACT; FOR ADULTS; FOR KIDS; accident on 9w marlboro, ny 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 . 2021 what a year, Fort Knox! | Article | The United States Army but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . However, in some instances, the rationale for moving gold from one compartment to another proved elusive. 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. . According to some sources, this is where most of the other Treasury's gold is located. After the gold was audited by the Continuing Audit committee all compartments were placed under Official Joint Seal. 3. The First Critical Observations. The gold is held as an asset at a value of $42.22 per ounce. 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. 35+ Mind Blowing Fort Knox Facts How Many Did You Know Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. From 1993 to 2008 the remaining 3 % of the gold reserves stored at the US Mint hasbeen audited I assume. The facility also featuresvideo cameras, motion detectors, and secret microphones, all set to pick up the presence of anyone or anything that doesn't belong. The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . 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. Find out what Uber drivers really think of you! Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. 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. 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. Koos mainly provides unique insights about Chinese gold market. As a result, the gold at the Bank [FRBNY] is considered unaudited. By using our website, you accept that cookies are used. 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 - RationalWiki 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. "Glad the gold is safe!". 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. The Treasury document says it would cost about $15 million to conduct an audit. The audit announced, however, would include just 20% of the gold. Is There Really Any Fort Knox Gold - Historic Mysteries Fort Knox is supposedly filled with 400 oz. The BGFO and Mint staff was replaced by the OIG and the revised audit procedures were invented as a reason to open several compartments. noting that it was "over 20 years" since the last one. 35 % first buy in bonus! Doubts About America's Official Gold Holdings: The US Gold Reserve After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. However, a Freedom Of Information Act request Ive submitted in order to obtain all audit reports could not be honored. Former US Mint Director Clueless On Gold In Fort Knox - GoldSeek The auditors were bored and decided to re-audit 1,700 tonnes. He said this, but there is no proof. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. In October 1984, 4,136,046.924 fine troy ounces of gold were reaudited at the United States Mint, Denver. Is the Coin Market Sleeping on Fairmont Collection Gold Coins? 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. Coins, Precious 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. Currency, Shop All More anomalies with regard to the audits of the US official gold reserves will be discussed in forthcoming posts. 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. Fort Knox is also on the list of these 10 forbidden places that no one is ever allowed to visit. PDF Fort Knox, Kentucky - United States Army US Mint Releases New Fort Knox "Audit Documentation": First Critical This is remarkable. Official records claimed 20,000 tons in the 1950s. The reports were not present at the National Archives, the OIG or at the Treasury Department. Fort Knox Operation . Its glittering gold . Last time Fort Knox was audited was in 1953 and even then only - reddit Of course,strange things have been stored in the vault, like morphine and opiumduring the early '90s. Each and every bar there should be assayed in a full, independent audit. Beginning in 1974, the auditors of the U.S. government's gold reserves held at Fort Knox, Ky., and at the U.S. Mint facilities in Denver, Colo., and West Point, N.Y. (which was named the West Point Bullion Depository from its opening in 1937 until it gained status as an official Mint in 1988), started a 10-year program to verify 100 percent of the gold reserves. Do you think it would be worthwhile, at least, to inventory and assay this portion of the Mint-held gold? 26 Feb 2017 13:18. 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 comments below have not been moderated. His visit was the one and only time a gold vault was opened for inspection for anyone other than authorized personnel. 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. 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). The next screen shot is from the reply by the FOIA help desk on May 6, 2015. Instead, I was advised to contact the Treasury. Fort Knox Gold: Myth or Reality? - jackhunt.com 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. Fort Knox Is So Mysterious And Heavily Guarded, Only One US President ALL COIN PROGRAMS, National Purple Heart Hall of He tweeted " Glad gold is safe! in 2004 the assayer was Ledoux & Company, a private contractor (read their homepage). Rep. Paul Calls for Gold Audit, Questions Whether Fort Knox Is Empty Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. Paul has introduced legislation that would require an independent audit of the 5,000 plus tons of gold bullion that is believed to stored in the Fort Knox, Kentucky vault. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. . Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. Telephone: (502) 624-2386. Much of this newfound gold came into government coffers as a result of President Franklin Roosevelts executive order confiscating privately held gold in 1933. Share this page: Army.mil. Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. Bags, & Boxes, Code In an audit conducted at Fort Knox in 1953, 88 ingots were counted for verification. 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. and until 2010, every member of . Thats 6 down, 7 more to go. 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. & Sales Figures. Fort Knox: "Glad Gold Is Safe!" - Miles Franklin Thank you for signing up with United States Mint! In 1974, WCPO Anchor Al Schottelkotte got a rare look inside the gold vault at Fort Knox, Kentucky. Koos Jansen is a precious metal analyst from the Netherlands. The Eisenhower Administration Conducted The Last Audit Of Fort Knox. When the mint finally produced the audit documentation, Jansen received 134 lightly redacted pages (rather than the estimated total of 1,200 pages). & Medal Programs, Tours President Reagan last spring demanding that this be looked into immediately. . The answer is, he cant. Text Alerts, Contact ', 'All I will say is that it is freakishly well secured,' he said. US Mint Releases New Fort Knox "Audit Documentation". The First PDF ICMI Gold Mining Audit Report - International Cyanide Management Code Ron Paul wants gold at Fort Knox audited - Jun. 24, 2011 - CNNMoney 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?' I also want to assure you that the physical security over the gold reserves is absolute. 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. Gold verification at Fort Knox March 1998, page 1. In an interview, McConnell said he could not say much about the visit for security reasons. Alaska, USA . *In 1974 the New York assay office tested 95 bars. According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. Need Help? 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. Buffalo Coins, American Eagle 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). An excuse was needed to break the seals. U.S. President Franklin D. Roosevelt passed legislation outlawing private ownership of gold, and gave instruction to build the depository at . All your favorite.50 games all in one club! As the last days tick away, let's take a moment to recap the top 12 stories at Fort Knox that shaped our 2021. All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. In the 1980 report we can read the audit procedures and a few other snippets (well quickly jump through) that help us understand how and where the audits were conducted: Audit procedures included (1) inspecting the joint audit committee seals used to control compartments containing previously audited gold; (2) comparing the records for each compartment inventoried to the identifying information on the gold bars; (3) weighing, from each compartment inventoried, at least one randomly selected melt in each fifty melts (a melt, averages about 20 bars cast from one crucible of molten gold); (4) removing samples from a bar in each of the melts weighed and having the samples assayed; (5) verifying the mathematical accuracy of all inventory records; (6) verifying the inventoried gold to the institutions records; (7) verifying the quantities shown by the institutions records to the control accounts for gold maintained by the Bureau of the Mint and to the central accounts maintained by BGFO; (8) placing audited gold bars in compartments under Official Joint Seal and audit committee control; and (9) reviewing and evaluating internal controls and security procedures. 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.