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. Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. In short, the US National Archives could not extradite the 7 audit reports I requested. CoinWeek: Rare Coin, Currency, and Bullion News for Collectors, it should be clear that the Deep Storage gold has not been audited by professionals, but the precious metals have been verified by imbeciles., submitted a number of Freedom of Information Act (FOIA) requests, Kolbe & Fanning Booksellers Buy or Bid Sale #3 Today Through March 15, Selections from Atlas Numismatics New Ancient, World Coin Inventory, Lesser Known History of the US Mint in Saudi Gold and Other Tales, Bitcoins and Physical Cryptocurrency in Stacks Bowers Auction. They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. Did audit reveal missing gold . The official story from OIG is that 100 % of the gold stored at Fort Knox was audited in between 1974 and 1986, . There was no assay report included in the audit report. Train fares will rise by 5.9% TOMORROW - but travellers can still get cheaper tickets if they buy them Why is Britain experiencing so many earthquakes? Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. Us, ALL He ought to have known precisely how many pages were needed and presumably where to find them. Coins, Tours & The gold at Fort Knox is stored in one of the most secure facilities in the world. As will conclusions and speculation. In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. Buy for Vault Storage in the United States Exhibit 7.3. Kinross - Fort Knox Mine April 22nd, 2021 Signature of Lead Auditor Page 2 of 47 . 'So many dead. He attempted to pinpoint how the Treasury Department verifies that the gold in its vault is both present and real. 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?' The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product. It was also the first visit by a serving US Treasury Secretary since 1948. 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. 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. Fort Knox Internal Review and Audit Compliance. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. Each and every bar there should be assayed in a full, independent audit. Ron Paul introduced a bill that would require the Fed to manually audit every U.S.-owned gold . Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. On top of this, a decades worth (1993-2003) of Joint Seal inspections from the Denver and West Point depositories are not accounted for. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. . Lets have a look. The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. The assay tests found no irregularities. 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. 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. 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. 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 result, the gold at the Bank [FRBNY] is considered unaudited. According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. 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. One of the mostsecure andinaccessible places in the world, the facility once held the Declaration of Independence and Bill of Rights. I will, however, submit a couple of new FOIAs at the US government regarding gold audits. Koos Jansen is a precious metal analyst from the Netherlands. & Medal Programs, Tours The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . Other problems sound laughable in their incompetence. The U.S. gold reserves at Fort Knox are broken into different numbered compartments within the gold vault. Shortly after I got an email that statedmy request had been received and was being processed. Moreover, it showed a number of (at best) inconsistencies in how the mint conducts its bullion inspection for auditing purposes. Part One, all golden coins that circulated in the US before 1933 could not have supplied the US official gold reserves to the extent Mr Moy has stated. 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. Kooss analysis of the procedures used found its rigor wanting in several key areas. Bags, & Boxes, Code I did read one time that the queen of England a. The event, Sept. 23, 1974, is often inaccurately called the last audit of Fort Knox. 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. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. ( 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. This is remarkable. 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. The audit will be performed by a committee of auditors from the U.S. General Accounting Office (GAO) and the Department of the Treasury. 211 votes, 25 comments. Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. 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. Fort Knox gold subject of hearing. According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! 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 public may never know. Coin Weve focused on the first audits of the gold stored by the US Mint. . Alaska, USA . Select stock location for your desired country in the dropdown to view our inventory available in that country. Exhibit 2. Contact Us. I shall rest here. I am glad to report that everything at the depository looked to be secure and in order. Exhibit 1. FORT KNOX MINE ICMC SUMMARY AUDIT REPORT . in 2004 the assayer was Ledoux & Company, a private contractor (read their homepage). Others claim the goldis actually justtungsten bricks painted to look like the precious metal. The last time anyone had access to inspect the deposits was on September 23, 1974. . 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. 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 . As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. But Bevin, speaking on WHAS radio, divulged a few more details. initial 1974 Fort Knox audit which was conducted by GAO and Treasury auditors. Cookies are also used for the purpose of handling our system and services. Even then only 5% of the examined bullion was weighed and assayed to determine its purity. However, if that intruder had turned to the west he would have . 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. For the other years we dont know whatoffice performed the checks. 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. . Gold verification at Fort Knox March 1998, page 2. 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. 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. 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. McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him.
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