when was the last time fort knox was audited

Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. RSS Feeds . Then, something very strange happened in 1983. Your browser is out of date. By gathering information from audit reports from 1974 1986 (the ones I could get my hands on) and statements made at the congressional hearing in 2011 well analyze our way through this. Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. The New Year kicked off . There was nothing left to do but submit a Freedom Of Information Act (FOIA) request. By and large, the vast majority of the verification is done by checking Official Joint Seals. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . I also want to assure you that the physical security over the gold reserves is absolute. The missing audit reports and assay reports feed into our skepticism. In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. As required under the Cyanide Code, the mine was again audited against ICMI's Verification Protocol by independent professional third-party auditors within three . The last time anyone had access to inspect the deposits was on September 23, 1974. . Part One, We use cookies to enhance the user experience and to analyse traffic. 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. Coins, Precious Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . July 1986 12,477,777.638 [this number Icopied from the 1986 report]. According to the reports available to us,in 1985 the committee had to conclude the gold at the FRBNY was never audited! The U.S. gold reserves at Fort Knox are broken into different numbered compartments within the gold vault. Fort Knox gold subject of hearing. That shipment required a convoy of 33 15-ton trailers to move the gold. Mistakes That Created America As You Know It, What It Was Like to Enter Through Ellis Island, Uncivilized Moments on the Congress Floor, Heinous Policies Toward Children and Families, Times Another US Civil Conflict Almost Began, Proposed States and Territories That Almost Were, A History of Foreign Meddling in US Elections, 1812: The Biggest Mess in the Country's History, Fort Knox Is So Mysterious And Heavily Guarded, Only One US President Has Ever Been Inside, video cameras, motion detectors, and secret microphones. when was the last time fort knox was audited. 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. At this stage I havent been able to get my hands on any assay report from 1974 1986. Hisstatement 100 percent of the U.S. Governments gold reserves in the custody of the Mint has been inventoried and audited is impossible to confirm, as well see later on. 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. The next screen shot is from the reply by the FOIA help desk on May 6, 2015. Tuesday March 22, 2016 13:20. Monetary Gold Stock of the United States 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. Matt Bevin. The Armored Force School and the Armored Force Replacement Center began operations at Fort Knox in October 1940. 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. HOME; EVENTS; ABOUT; CONTACT; FOR ADULTS; FOR KIDS; accident on 9w marlboro, ny today The last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. Submitted to: . So, what's really inside Fort Knox? 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. Weve focused on the first audits of the gold stored by the US Mint. 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. I left school at 16 with six GCSEs - and became a self-made millionaire. 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). Fort . 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 . there has not been anyone allowed access to confirm the gold amounts that are supposedly stored at the Fort. 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. 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. The target this time is the United States Treasury Assay Office in New York . I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself. In 1974, after the US closed the gold window, congressional support grew for inquiring into the US gold stock. Furthermore, these audits found no exceptions of any consequence. The government supposedly maintains over 8,100 metric tonnes of the yellow metal in its reserves, spread out across three main bullion depositories (for reference, the second-largest gold reserves owned by Germany total less than half of the U.S. stockpile). Shortly after I got an email that statedmy request had been received and was being processed. 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. 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. These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. 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. Try Army A-Z . The gold at Fort Knox is stored in one of the most secure facilities in the world. On the way to the vault, a literal mine field and an electric fence protectthe gold. Same story at the US Mint and US National Archives. By Everett Millman Gainesville Coins . While investigating facts about Fort Knox Federal Credit Union and Fort Knox Safes, I found out little known, but curios details like: The Federation of Quebec Maple Syrup Producers has a "Fort Knox" vault of Maple Syrup. Contact Us. Fort Knox is also on the list of these 10 forbidden places that no one is ever allowed to visit. I did read one time that the queen of England a. 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? 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. BY . Let me show you an example of Fort Knox. 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? I'm a vet, and here are five dog breeds most prone to cancer - including Golden Retrievers and Rottweilers. Coins, American 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. All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? It saves time and labor costs. But Bevin, speaking on WHAS radio, divulged a few more details. Sets, Commemorative The auditors from the Treasury will be drawn from the Office of the Secretary, the Bureau of Government Financial Operations, the U.S. Customs Service, and the Bureau of the Mint. 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. After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. For the other years we dont know whatoffice performed the checks. 12/ As of September 30, 1984, 99.9 percent of the gold stored at the United States Denver Mint had been audited under the initial continuing audit program. PBOC Gold Purchases: Separating Facts from Speculation. CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. The auditors were bored and decided to re-audit 1,700 tonnes. Small quantities of gold are removed to test the purity during regularly scheduled audits. In short, the US National Archives could not extradite the 7 audit reports I requested. In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. 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). Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. A barrel is worth about $1,200 or $2.88 per pound which is 10-18 times the value of U.S. crude oil. However, no outside experts were allowed in during the audit, and only about 5% of the gold was actually tested. 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. It's going on right now as I say these words. In my previous post, from March 2018, on the audits of US official gold reserves, I have exposed that during the audit procedures of the US official gold reserves from 1974 through 2008, repeatedly audit staff deviated from the auditing . When will the Beast from the East be at YOUR door? After writing it Ive been trying to collect all audit reports dating from1974 1986. The novel begins: 7:20 am, September 11, 2015. Lets read more about the audits at the FRBNY conducted under the continuing audits program, a quote from the 1981 report: The audit procedures followed [at the FRBNY] are essentially the same as those followed at Bureau of the Mint depositories, except that assay samples are not taken to verify the purity of the gold. Buffalo Coins, American Eagle The assayer is unknown and there was no assay report included in the audit report. Pursuant to that order, the Committee for Continuing Audit of the U.S. Fort Knox facts. Other problems sound laughable in their incompetence. Gold verification at Fort Knox March 1998, page 3. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. An excuse was needed to break the seals. 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. Mint Medals, Shop All Paper 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.. 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. Text Alerts, Contact Miles Franklin sponsored this article by Gary Christenson.The opinions are his, and they are not investment advice. One of the most sensitive secrets protected by the Washington establishment is the massive cache of gold reserves held at the federal depository in Fort Knox, Kentucky. Buy for Vault Storage in the United States ( 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. . "good delivery" gold bars. Until 1953, there were serial number audits of the gold and some assaying as I explain but that became costly and time intensive. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. This fits right into how the US government imposes audits on their official gold reserves; the audits are performed by the US government itself. Also, the assay test results from last year's gold audits at Fort Knox and West Point were Manyquestion the amount of gold that supposedly exists in the vault,and wonder what else hides within the building'swalls. New York man wears glasses that help him Isabel Oakeshott receives 'menacing' message from Matt Hancock, Ken Bruce: 'I always wanted to be a radio presenter from about 15', Pavement where disabled woman gestured at cyclist before fatal crash, Pro-Ukrainian drone lands on Russian spy planes exposing location, 'Buster is next!'

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