when was the last time fort knox was audited when was the last time fort knox was audited

Ive found many anomalies that well discuss. Donate here, Idaho House Votes to Authorize State Gold & Silver Holdings, 34 Wyoming House Members Thumb Their Noses at Sound Money, Catch-22: Rate Hikes May Fuel Even MORE Inflationary Deficit Spending, Vermont Seeks to Become 44th State to Roll Back Sales Tax on Sound Money, Mississippi Legislature Votes Overwhelmingly to End Sales Taxes on Gold and Silver, VIDEO: President of Money Metals Exchange Joins Gold Standard Podcast to Discuss Sound Money Legislation, Iowa Seeks to End Capital Gains Taxes on Gold and Silver, Mississippi Bill Would End All Taxes on, Invest State Funds in, Gold & Silver, Kentucky Lawmakers Aim to End Sales Taxes on Sound Money, Missouri Senate Votes to End Income Taxes on Gold and Silver, Hold Monetary Metals in Reserve, Legislators Seek Repeal of Wisconsins Controversial Sales Tax on Gold and Silver. Part One, We use cookies to enhance the user experience and to analyse traffic. Save my name, email, and website in this browser for the next time I comment. Liberty, Bush In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. This effort to audit the Fort Knox gold, the Federal Reserve, and its policies toward gold is now carried on by the younger Paul, Rand, who currently serves as a U.S. The facility also featuresvideo cameras, motion detectors, and secret microphones, all set to pick up the presence of anyone or anything that doesn't belong. In 1974, after the US closed the gold window, congressional support grew for inquiring into the US gold stock. Not that it would be easy to even make it this far, but the door to the vault is made of steel and . Interactive map reveals when you may see SNOW. But by 1986, you had 97 percent was audited. 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. Military/Civilian clock Examples of Civilian/Military time conversion. ', 'I assume the gold is still there,' he said. 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. 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. Great! The Congressional inspection adheres to the new open door policy of the government announced by President Ford. Koos mainly provides unique insights about Chinese gold market. 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. Small quantities of gold are removed to test the purity during regularly scheduled audits. 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). The assay tests found no irregularities. The Treasury document says it would cost about $15 million to conduct an audit. 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. However, there has been considerable doubt over the years as to whether the depository actually held any gold. 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. Moving on to the assay tests conducted at the US Mint. A separate post will be dedicated to KPMG. and until 2010, every member of . Other problems sound laughable in their incompetence. I'm a vet, and here are five dog breeds most prone to cancer - including Golden Retrievers and Rottweilers. 'The gold is safe.'. Government-owned Goldare not in our collection." Koos Jansen. Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. Furthermore, these audits found no exceptions of any consequence. 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. 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. Find out what Uber drivers really think of you! Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. More anomalies with regard to the audits of the US official gold reserves will be discussed in forthcoming posts. "good delivery" gold bars. 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. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. *In 1974 the New York assay office tested 95 bars. The gold stored in these compartments would get moved around if samples were taken for assaying during the audit. 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! Currently the Office Inspector General of the Treasury is responsible for the audits of the gold reserves at the US Mint. Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! 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. Tiger Woods unleashes his lawyers on porn site after it Bannon is 'going to war' against Jared, 'crying Ivanka' and A whole hue world! He ought to have known precisely how many pages were needed and presumably where to find them. Coins, Tours & Jansen is a longtime gold insider and journalist reporting on, for example, the goings-on of the incipient Shanghai Gold Exchange (SGE). Talkers Medals, Military Based on glaring conflicts among the Treasury's own documents, this staggering amount of gold disappeared without a trace from 1961 to 1971. . On the way to the vault, a literal mine field and an electric fence protectthe gold. Mint Medals, Shop All Paper 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. In June 1975, the Treasury Secretary authorized and directed a continuing audit of U.S. Sevenreports are missing. Fort Knox sits on over 100,000 acres and houses 30,000 military personnel. Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. It was obvious that some of the records were missing (or not provided). All News, Articles, Commentary and Opinions are contributed by the author(s), with or without compensation, who are solely responsible for the content, and do not represent CoinWeek Management. 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 First Critical Observations. Shipping within New Zealand. A congressional delegation and some journalists got a look at the gold in 1974. The BGFO and Mint staff was replaced by the OIG and the revised audit procedures were invented as a reason to open several compartments. The usage of cookies and the collection of customer information by BullionStar is guided by our. 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). In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. Republican frontrunner Donald Trump hinted at the idea that there just might be no gold in the U.S. Coincidentally almost all the gold assayed by the OIG from 2004 2008 was 9999 fine. The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. The assayer is unknown and there was no assay report included in the audit report. In an interview, McConnell said he could not say much about the visit for security reasons. Fort Knox is supposedly filled with 400 oz. I personally believe that rumor and the bulk of it has been sold off to the rich elites. 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. Submitted to: . A barrel is worth about $1,200 or $2.88 per pound which is 10-18 times the value of U.S. crude oil. Is the Coin Market Sleeping on Fairmont Collection Gold Coins? 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. Thats everything we have, or are aware of. 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. However, as Ive written in my post Where Did The Gold In Fort Knox Come From? As will conclusions and speculation. 26 Feb 2017 13:18. previous, Kids Between July 1983 and July 1985 the gold was audited in accordance with the plan approved by the Treasurer, as follows. 211 votes, 25 comments. Former US Mint director Edmund Moy has stated in 2013 US reserves contain mainly coin bars because of the great confiscation in 1933 by President Roosevelt, when US citizens were forced to hand in all physical 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. 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. It's going on right now as I say these words. FORT KNOX MINE ICMC SUMMARY AUDIT REPORT . Buy for Vault Storage in the United States Contact Us. I'm not a professional auditor (if you are one please contact me), but common sense suggests that when irregularities are found the sample size . The One "Audit" Of Fort Knox. 312 tonnes of the total is 4 %. Lets have a look. Fort Knox is also on the list of these 10 forbidden places that no one is ever allowed to visit. The First Critical Observations", February 2017. Answer (1 of 2): Internally, it is done annually. there has not been anyone allowed access to confirm the gold amounts that are supposedly stored at the Fort. In the meantime I will fire several new FOIAs at the Office of the Inspector General and others. On top of this, a decades worth (1993-2003) of Joint Seal inspections from the Denver and West Point depositories are not accounted for. 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. Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . This is remarkable. Few people have ever entered the vault,and while147.3 million ounces of goldallegedly exists inside, the accuracy remains in doubt. If we carefully read the scarce audit reports available to us, wenotice the audit procedures were revised in 1983. It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). 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. Audit report Fort Knox 1981. In one case, the auditors were allegedly unaware that the scale was showing standard ounces rather than troy ounces, which all precious metals are weighed in, throwing an entire days worth of measurements out of whack (that a scale used for precious metals would ever be set to anything besides troy ounces is questionable). Secretary Mnuchin's statements were not helpful. In 1977 the New York assay office, which is a subsidiary of the US Mint, conducted the assays. These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. Whos Supplying? American $1 Coins, SHOP 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. The audit announced, however, would include just 20% of the gold. The next screen shot is from the reply by the FOIA help desk on May 6, 2015. *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.