Did The Dutch Central Bank Lie About Its Gold Bar List? But theories exist regarding other possiblecontents of the vault -like the body of Jimmy Hoffa. *Its likely 97 % of the audited gold by the continuing audits committee has not been assayed by an independent assayer. $800 weekly hand count free roll. He ought to have known precisely how many pages were needed and presumably where to find them. when was the last time fort knox was audited. In August 2017, US Treasury Secretary Steve Mnuchinvisited the gold vault at Fort Knox and, along with a few other politicians, surveyed the site. The depository was built following U.S. President, Franklin D. Roosevelt's, controversial 1933 legislation - Executive Order 6102 - which outlawed the private ownership of gold bullion. "Glad the gold is safe!". Kinross - Fort Knox Mine April 22nd, 2021 Signature of Lead Auditor Page 2 of 47 . However, how trustworthy is this system of accounting? Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. Koos mainly provides unique insights about Chinese gold market. Shipping within the United States *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. Koos Jansen is a precious metal analyst from the Netherlands. Page Last Modified: 8/26/19, 2:56 PM Fort Knox, KY. Our Nation's Gold Standard Army Home. 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. Honor, Rolls, Two tetrahedron-shaped chips were removed form the top and bottom of each bar assayed. di Two months later I still got no response. Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. Alaska, USA . Us, ALL A congressional delegation and some journalists got a look at the gold in 1974. 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. About 000% of them were weighed. I'm a vet, and here are five dog breeds most prone to cancer - including Golden Retrievers and Rottweilers. 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). Facilities, Production Then, something very strange happened in 1983. Currently the Office Inspector General of the Treasury is responsible for the audits of the gold reserves at the US Mint. The audit announced, however, would include just 20% of the gold. I decided to send an email to the FOIA online Help Desk to ask what happened to my request. Other problems sound laughable in their incompetence. As the last days tick away, let's take a moment to recap the top 12 stories at Fort Knox that shaped our 2021. Let me show you an example of Fort Knox. 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. Bags, & Boxes, Code Cookies are also used for the purpose of handling our system and services. Official joint seal number 932 put in place on September 2, 1982, under the continuing audits of U.S.-owned goldstored at the Mint. Also, the assay test results from last year's gold audits at Fort Knox and West Point were U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. In October 1984, 4,136,046.924 fine troy ounces of gold were reaudited at the United States Mint, Denver. Government-owned Goldare not in our collection." 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. Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. He tweeted " Glad gold is safe! Try Army A-Z. Government-owned Gold, or my office, and placed under official joint seals. At the congressional hearing of the Gold Transparency Act (H.R. But Bevin, speaking on WHAS radio, divulged a few more details. The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. The assayer is unknown and there was no assay report included in the audit report. 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. 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. After the gold was audited by the Continuing Audit committee all compartments were placed under Official Joint Seal. US citizens were required to sell their gold bullion - bars and coins - back to the State. Senator from Kentucky, where Fort Knox is located. Site, Coin By Patrick A. Heller. Approximately half the U.S. Treasury's gold is located in the storage facility at Fort Knox Only one president has ever been inside -and the US Mint remains largely mum on the contents of the vault -making Fort Knox a hotbed for conspiracy theories. 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. 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. Koos Jansen. By using our website, you accept that cookies are used. When the mint finally produced the audit documentation, Jansen received 134 lightly redacted pages (rather than the estimated total of 1,200 pages). ALL COIN PROGRAMS, National Purple Heart Hall of 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. 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. I will, however, submit a couple of new FOIAs at the US government regarding gold audits. When will the Beast from the East be at YOUR door? 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 would really be quite a movie if we walked in and there was no gold. 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. Metal Coins, back to The gold stored in these compartments would get moved around if samples were taken for assaying during the audit. And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians. However, no outside experts were allowed in during the audit, and only about 5% of the gold was actually tested. 3. Compared to the samples taken in the 1950s and 60s, the standards for the integrity of the sample size had fallen sharply. Several more examples of these blurry situations are shown in the released documents. . I left school at 16 with six GCSEs - and became a self-made millionaire. But by 1986, you had 97 percent was audited. Each and every bar there should be assayed in a full, independent audit. Until 1953, there were serial number audits of the gold and some assaying as I explain but that became costly and time intensive. More from the 1985 report: The audit procedures followed [at the FRBNY] were essentially the same as those followed at Mint institutions except that assay samples were not taken to verify the purity of the gold and the audited gold was not under committee control after the audit. Buy, ship and store bullion with BullionStar in/from different countries. 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. More anomalies with regard to the audits of the US official gold reserves will be discussed in forthcoming posts. The assay tests found no irregularities. We are no longer accepting comments on this article. 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. This would last until 2010 when the Armor School was relocated to Fort Benning, Georgia. It was decided to destroy several audit and assay reports and no less than 1,700 tonnes needed to be re-audited. However, as Ive written in my post Where Did The Gold In Fort Knox Come From? Find out what Uber drivers really think of you! CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. Share this page: Army.mil. For the best and most secure experience in our catalog, please update your browser. 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. 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. All the golden coins that were handed in supposedly accumulated to the greatest gold pile on earth. noting that it was "over 20 years" since the last one. The US official gold reserves are the worlds greatest by far at 8,134 metric tonnes. The usage of cookies and the collection of customer information by BullionStar is guided by our. *In 1974 the New York assay office tested 95 bars. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Answer (1 of 2): Internally, it is done annually. Submitted to: . Not that it would be easy to even make it this far, but the door to the vault is made of steel and . Fort Knox: "Glad Gold Is Safe!". All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? 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. Contact Us. From the 1985 report: 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? Pursuant to that order, the Committee for Continuing Audit of the U.S. 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. As a freebie trip for 4 select political insiders, last Monday's trip to Fort Knox was undoubtedly a memorable one . "good delivery" bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong. 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. The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. 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! Presidential Coins, Kennedy Half One of last year's uproars was the decision by US officials to carry out an audit of these gold vaults. In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. Ron Paul worries Fort Knox gold is gone. Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. 97 percent of the gold was checked and sealed in an audit that ended in 1986, and annual partial audits by a third-party accounting firm continued after that, he said. You may consider submitting a FOIA request directly to the Treasury Department. Tiger Woods unleashes his lawyers on porn site after it Bannon is 'going to war' against Jared, 'crying Ivanka' and A whole hue 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. 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). random nose bleed covid. As weve seen thus far there are many problems with the official story everything is fine, all the US official gold reserves all audited. 15919 Avenida Venusto, Apt. 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. 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 %. The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . : 201217896Z The gold is held as an asset at a value of $42.22 per ounce. Are you already an expert in everything America? 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. Given all the protection, it seems obvious that billions of dollars worth of gold (or something) indeed resides at Fort Knox. fort knox crisis phone numbers. This is remarkable. Questions: 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. (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 . ', 'I assume the gold is still there,' he said. As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. 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. Atthe congressional hearing in 2011 the IG stated to be 100 % certain all gold stored by the Mint was inventoried and audited, yet his department had accessto only a fraction (4) of all audit reports (13). 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. PBOC Gold Purchases: Separating Facts from Speculation. Treasury Secretary William E. Simon issued the invitation to Congressmen to inspect the gold at Fort Knox. Need Help? The last Congressional visit prior to this occurredin 1974. In June 1975 the Secretary of the Treasury authorized the continuing audits of the US owned gold stock. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. However, a Freedom Of Information Act request Ive submitted in order to obtain all audit reports could not be honored. It saves time and labor costs. No photographs were allowed, of course. What his dogged FOIA requests have failed to reveal, unfortunately, is anything that would put the questions about the Fort Knox gold to rest. 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). Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, U.S. Maybe a room or two full of gold but the rest is gone. U.S. President Franklin D. Roosevelt passed legislation outlawing private ownership of gold, and gave instruction to build the depository at . 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. 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. Fort Knox gold subject of hearing. More than half of . This post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits. The U.S. gold reserves at Fort Knox are broken into different numbered compartments within the gold vault. 'It just kind of came up as a result of a casual conversation,' McConnell said. Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. 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). Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. Coins, American 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. The assayer is unknown and there was no assay report included in the audit report. For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. It was also the first visit by a serving US Treasury Secretary since 1948. His visit was the one and only time a gold vault was opened for inspection for anyone other than authorized personnel. Moreover, it showed a number of (at best) inconsistencies in how the mint conducts its bullion inspection for auditing purposes. Liberty, Bush Try Army A-Z . The OIG audited 3 % from 1993 2008. Protected by a 109,000-acre U.S. Army post in Kentucky sits one of the Federal Reserve's most secure assets and its only gold depository: the 73-year-old Fort Knox vault. 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. Coincidentally almost all the gold assayed by the OIG from 2004 2008 was 9999 fine. 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). 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. 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. Medals, Email & initial 1974 Fort Knox audit which was conducted by GAO and Treasury auditors. I am glad to report that everything at the depository looked to be secure and in order. After writing it Ive been trying to collect all audit reports dating from1974 1986. So, what's really inside Fort Knox? From at least 1944 the world reserve currency is the US dollar, which was backed by gold until 1971 and supported by gold ever since. 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. GAO stands for General Accounting Office, OIG stands for Office of Inspector General. Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. 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! Meanwhile I was fortunate to find the 1981 audit report at the website The Golden Sextant fromReg Howe. Daily free rolls! 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. " He told an audience in Louisville, "I assume the gold is still there.". Domestic and International Shipping from Singapore Why might the government entrust such inexperienced employees with this important task? 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. 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 target this time is the United States Treasury Assay Office in New York . By Everett Millman Gainesville Coins . Fort Knox Policies. 45 New Bridge Road, Singapore 059398 Singapore The comments below have not been moderated. According to some sources, this is where most of the other Treasury's gold is located. Moving on to the assay tests conducted at the US Mint. It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). 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. *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. Furthermore, these audits found no exceptions of any consequence. 'So many dead. 213K subscribers in the Wallstreetsilver community. 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 . Royal Mint Launches First Coin in Myths and Legends Collection, Numismatic Crime Counterfeit Notes Sold Over Facebook, 1776 Continental Dollar Offered by David Lawrence Rare Coins, Grade This 1936-S Cincinnati Commemorative Silver Half Dollar, First King Charles III Coin From Pobjoy Celebrating the Accession, Dakota 1875 $5 Bank Note in Stacks Bowers Spring Auction. Based on glaring conflicts among the Treasury's own documents, this staggering amount of gold disappeared without a trace from 1961 to 1971. . Interactive map reveals when you may see SNOW. In June 1975, the Treasury Secretary authorized and directed a continuing audit of U.S. 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. The last full audit was done in 1953 . ( 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. & Sales Figures. 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. 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. The compartments at the Mint were placed under official joint seal, whereas the FRBNY compartments were never placed under official joint seal (as we can read on page 11 of the 1980 audit report). However, if that intruder had turned to the west he would have . The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. We are a community that loves Silver, Period. For this post well focus on the continuing audits of U.S.-owned gold, as these audits should proof there is gold in Fort Knox. The US Treasury currently owns 8,134 tonnes of gold of which 7,716 tonnes is stored by the US Mint (4,583 tonnes at Fort Knox, 1,364 tonnes in Denver, 1,682 at West Point) and 418 tonnes at the Federal Reserve Bank Of New York. I shall rest here. The last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. Connecting thereto, from Thorsons opening statement: My office began conducting annual audits of the gold reserves in Fiscal Year 1993. In the meantime I will fire several new FOIAs at the Office of the Inspector General and others. If we carefully read the scarce audit reports available to us, wenotice the audit procedures were revised in 1983.