when was the last time fort knox was audited

Part One, We use cookies to enhance the user experience and to analyse traffic. Has the Federal Reserve Sold the Gold at Fort Knox? 'So many dead. The First Critical Observations. 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. Share this page: Army.mil. However, how trustworthy is this system of accounting? Fort Knox, Kentucky is an Army base with more than one hundred thousand acres stretching across three counties. I did read one time that the queen of England a. 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. After the Congressional inspection, the Bullion Depository will once again be closed to visitors. This was the first time the OIG was responsible for the audits of the gold at the Mint (note, this same OIG is still responsible for the audits). No photographs were allowed, of course. Gold verification at Fort Knox March 1998, page 3. The last Congressional visit prior to this occurredin 1974. 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. Telephone: (502) 624-2386. 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. US Official Gold Reserves Auditor Caught Lying - Substack EMPTY! Is there any gold in Fort Knox? Government's denial of audit Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. 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. I decided to send an email to the FOIA online Help Desk to ask what happened to my request. Only One President Has Ever Been Inside Fort Knox Why Is It - Ranker On April 28, 1943, President Franklin D. Roosevelt inspected the Bullion Depository, Mrs. Brooks said. Your browser is out of date. A second storage facility was built at the same time: . For instance, sample sizes used for assaying were conspicuously small. Fort Knox | Military Base Guide Answer (1 of 2): Internally, it is done annually. FORT KNOX MINE ICMC SUMMARY AUDIT REPORT . On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued. 'It's not even the annual funding level for some of our large departments in the federal government,' he said. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . In 1953, the US Treasury Department audited Fort Knox, but only around5% of the goldunderwent testingfor purity. 3. 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. The auditors were bored and decided to re-audit 1,700 tonnes. In 1977 the New York assay office, which is a subsidiary of the US Mint, conducted the assays. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. 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. Why havent we ever seen any assays of coin bars? 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). Why might the government entrust such inexperienced employees with this important task? Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. The Fort Knox Gold was last audited in the 1950s. Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, U.S. Answer (1 of 2): Who knows but it is rumored that the majority of the gold in Fort Knox no longer exists! However, no outside experts were allowed in during the audit, and only about 5% of the gold was actually tested. McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him. According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! The first screen shots below are from a gold verification at Fort Knox in March 1998. 2023 DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. The last time any gold was removed from deep storage at Fort Knox came in 1971, when $500 million worth of gold was delivered to the New York Assay Office. In the meantime I will fire several new FOIAs at the Office of the Inspector General and others. Ledoux & Company found no irregularities in 2004. Scales at the Mint used to weigh the bars often didnt work properly. Test yourself with this Cockney Rhyming Slang quiz. If Ft. Knox Isn't Empty | Gary North -- Specific Answers Exhibit 7.2. So, what's really inside Fort Knox? Experts weigh in as tremors hit Wales, Cornwall and the Are YOU eating the right colours? Revealed: The top 10 fastest-growing destinations for UK pensioners retiring overseas. Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. 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. "Dear US Mint, We Gave You The FOIA Funds, Now Give Us The Fort Knox Audit Documents!", November 2016 "US Mint Releases New Fort Knox "Audit Documentation". " He told an audience in Louisville, "I assume the gold is still there.". Fort Knox | fort, Kentucky, United States | Britannica 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. 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). In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. Fort Knox: "Glad Gold Is Safe!" - Miles Franklin For your information, we contacted a librarian at the Treasury Department who informed us that reports from Committee for Continuing Audit of the U.S. di Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. The Congressional inspection adheres to the new open door policy of the government announced by President Ford. ', 'All I will say is that it is freakishly well secured,' he said. I doubt an attempt to submitting a FOIA request directly to the Treasury Department will bring me anything; likely it will be a waste of time as I had already contacted all possible government departments separately, which could not deliver me the reports I was looking for despite none of them was unwilling to help me. CHARLOTTE, NC / ACCESSWIRE / May 26, 2021 / America's gold reserves would be audited for the first time in more than 60 years if a measure introduced yesterday by U. The reports were not present at the National Archives, the OIG or at the Treasury Department. 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?' However, there has been considerable doubt over the years as to whether the depository actually held any gold. Maybe a room or two full of gold but the rest is gone. (in millions of ounces), SIGN UP FOR EMAIL UPDATES AND TEXT MESSAGE ALERTS ABOUT PRODUCTS. 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. fort knox crisis phone numbers. The OIG audited 3 % from 1993 2008. 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. US Army Cadet Command Headquarters | Military Base Guide Others claim the goldis actually justtungsten bricks painted to look like the precious metal. Revealed: The new '23' number plates the DVLA deems offensive and has banned including EU23 OFF and GO23 HEL, The secret WhatsApp mode that lets you EDIT texts after you've sent them. Treasury Secretary William E. Simon issued the invitation to Congressmen to inspect the gold at Fort Knox. 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. There was nothing left to do but submit a Freedom Of Information Act (FOIA) request. 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. The New Year kicked off . 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. It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). Same story at the US Mint and US National Archives.