Technically its possible the OIG assayed exactly the remaining stash of 9999 gold, though chances are slim given the fact the 9999 gold wasspread over multiple compartments at multiple depositories. 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. Fort Knox sits on over 100,000 acres and houses 30,000 military personnel. As a result, the gold at the Bank [FRBNY] is considered unaudited. After the Congressional inspection, the Bullion Depository will once again be closed to visitors. However, if that intruder had turned to the west he would have . We will discuss the remaining 4 audit reports at once, as they are very similar. In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . The event, Sept. 23, 1974, is often inaccurately called the last audit of Fort Knox. & Facilities, Shop All 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. No irregularities were found. 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.. As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. When thinking about these re-audits, threescenarios pop to mind: Why else wouldso much gold have been re-audited? I will, however, submit a couple of new FOIAs at the US government regarding gold audits. On this sheet 5 physical gold audit reports are listed, framed in red. Shortly after I got an email that statedmy request had been received and was being processed. Approximately half the U.S. Treasury's gold is located in the storage facility at Fort Knox Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. 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 . The last time Fort Knox had opened its vault to civilians was more than 40 years earlier. But Bevin, speaking on WHAS radio, divulged a few more details. An excuse was needed to break the seals. The BGFO and Mint staff was replaced by the OIG and the revised audit procedures were invented as a reason to open several compartments. 26 Feb 2017 13:18. One of last year's uproars was the decision by US officials to carry out an audit of these gold vaults. The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. And the problem goes far beyond missing audit reports. Coins, Tours & Between July 1983 and July 1985 the gold was audited in accordance with the plan approved by the Treasurer, as follows. 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. 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. FORT KNOX MINE ICMC SUMMARY AUDIT REPORT . He said this, but there is no proof. The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." On the way to the vault, a literal mine field and an electric fence protectthe gold. This post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits. You can change the usage of cookies in your browser. The First Critical Observations. 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. Revealed: The top 10 fastest-growing destinations for UK pensioners retiring overseas. The U.S. gold reserves at Fort Knox are broken into different numbered compartments within the gold vault. 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. By and large, the vast majority of the verification is done by checking Official Joint Seals. Medals, Email & When I logged in at my account at the FOIA website, I saw my request had disappeared. 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. 3. The Facebook predator who lured schoolgirls to run away with him is one of 7,000 sex fiends who offended Do not sell or share my personal information. . As a freebie trip for 4 select political insiders, last Monday's trip to Fort Knox was undoubtedly a memorable one . When will the Beast from the East be at YOUR door? 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. He ought to have known precisely how many pages were needed and presumably where to find them. 4,243 bars were relocated from vault Jcompartment 19, to vault J compartment 2, at the Denver depository. 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. Bureau of Government Financial Operations [BGFO]. 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. If official documents come to surface I will report accordingly. 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 US government wished to open the vaults of audited gold to lease or sell the metal on the open market. There has not been any movement of inventoried gold since that time. Part One, We use cookies to enhance the user experience and to analyse traffic. The last time that Congress audited it was 2019. Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. A waiting list may be . Circulating Fort Knox is in Romeo (R) time. More anomalies with regard to the audits of the US official gold reserves will be discussed in forthcoming posts. Let me show you an example of Fort Knox. And there is more, a lot more. There was no assay report included in the audit report. 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. Ledoux & Company found no irregularities in 2004. Ideas, Gifts for Thats 6 down, 7 more to go. China Gold Import Jan-Sep 797t. The reports were not present at the National Archives, the OIG or at the Treasury Department. Welcome to the Coronation! 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. 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. Text Alerts, Contact Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. The vault can withstand guns, blowtorches, and other incendiary devices. If we carefully read the scarce audit reports available to us, wenotice the audit procedures were revised in 1983. Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. No photographs were allowed, of course. In an audit conducted at Fort Knox in 1953, 88 ingots were counted for verification. in 2004 the assayer was Ledoux & Company, a private contractor (read their homepage). 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). The gold at Fort Knox is stored in one of the most secure facilities in the world. The Fort Knox Gold was last audited in the 1950s. 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). 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. We are a community that loves Silver, Period. Official Joint Seal inspection records from Fort Knox, June 1998 (courtesy of Koos Jansen through Freedom of Information Act). Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. 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. Talkers Medals, Military 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 . After writing it Ive been trying to collect all audit reports dating from1974 1986. All the golden coins that were handed in supposedly accumulated to the greatest gold pile on earth. . It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). In addition to the gold bricks, Bevin said he got to hold a 1933 double eagle, a $20 gold coin that was never circulated. Built in 1936, security access for the facility make it difficult to get access. : 201217896Z Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! 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. The gold stored in these compartments would get moved around if samples were taken for assaying during the audit. 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. Coins, American The Eisenhower Administration Conducted The Last Audit Of Fort Knox. He attempted to pinpoint how the Treasury Department verifies that the gold in its vault is both present and real. Exhibit 7.3. 211 votes, 25 comments. My assumption is, these assays from 2004 2008 are all assays authorized by the OIG from 1993 2008 and therefor cover 3 % of the gold stored at the US Mint. Mint Medals, Shop All Paper Official records claimed 20,000 tons in the 1950s. Then, something very strange happened in 1983. Furthermore, these audits found no exceptions of any consequence. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . 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. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. 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. However, a Freedom Of Information Act request Ive submitted in order to obtain all audit reports could not be honored. The WORST care homes in England: Interactive map reveals the lowest-rated 2,530 residences - so is there one Do YOU know your Adam and Eve from your Ruby Murray? 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 . Sets, Commemorative More than half of . Fort Knox Policies. 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. 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. Coin Located in Kentucky, Fort Knox is a United States Army base whichhouses most of the US's gold reserves. Representative Alex Mooney (R . Based on glaring conflicts among the Treasury's own documents, this staggering amount of gold disappeared without a trace from 1961 to 1971. . It was a magnificent golden sunrise that inspired visions of glory, wealth, and beauty. Fort Knox is also on the list of these 10 forbidden places that no one is ever allowed to visit. By using our website, you accept that cookies are used. However, in some instances, the rationale for moving gold from one compartment to another proved elusive. The official story from OIG is that 100% of the gold stored at Fort Knox was audited in between 1974 and 1986, although there is no US government department that has the audit reports. . The last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. Thank you for signing up with United States Mint! Great! Gold verification at Fort Knox March 1998, page 3. Others claim the goldis actually justtungsten bricks painted to look like the precious metal. Page Last Modified: 8/26/19, 2:56 PM Fort Knox, KY. Our Nation's Gold Standard Army Home. McConnell was part of a delegation of Kentucky politicians allowed inside the United States Bullion Depository at Fort Knox for the first time since 1974. The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. Ron Paul worries Fort Knox gold is gone. The Fort Knox facility was opened within the year, and took its first shipment of gold in 1937. The official story from OIG is that 100 % of the gold stored at Fort Knox was audited in between 1974 and 1986, . Alaska, USA . 1126, San Diego, CA, 92128, USA . Join FORT KNOX code Axykp! The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. 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. For the best and most secure experience in our catalog, please update your browser. for Dads, American Women's History Coins & *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. Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . Even then only 5% of the examined bullion was weighed and assayed to determine its purity. 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. Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. Donald Trump Doesn't Think So. 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. Find out what Uber drivers really think of you! To date,only one US president has been inside the vault - Franklin Delano Roosevelt, who served as president when the US Bullion Depositorywithin Fort Knoxwas established. His visit was the one and only time a gold vault was opened for inspection for anyone other than authorized personnel. Facilities, Production It was also the first visit by a serving US Treasury Secretary since 1948. Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, 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 . In June 1975 the Secretary of the Treasury authorized the continuing audits of the US owned gold stock. The last Congressional visit prior to this occurredin 1974. Same story at the US Mint and US National Archives. 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. ( 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.

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