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. Whos Supplying? 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. As required under the Cyanide Code, the mine was again audited against ICMI's Verification Protocol by independent professional third-party auditors within three . 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. In performing the audit, the gold bars are physically moved from one vault compartment to another. The annual audits by the committee ended in 1986 after 97 per cent of the Government owned gold held by the Mint had been audited and placed under official joint seal. In response to a FOIA request the US Mint has finally released reports drafted from 1993 through 2008 related to the physical audits of the US official gold reserves. This post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits. Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. di In another dubious mix-up, a number of measurements were faulty because the auditors misread where the decimal point was on the scale. Need Help? 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. *In 1974 the New York assay office tested 95 bars. The gold is held as an asset at a value of $42.22 per ounce. Great! Us, ALL Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. Inside the famed vaults at Fort Knox, Senate Majority Leader Mitch McConnell held a 27-pound gold bar in his hands Monday as part of the first civilian delegation to see most of the country's bullion reserves in more than 40 years. Alaska, USA . Its glittering gold . Atthe congressional hearing in 2011 the IG stated to be 100 % certain all gold stored by the Mint was inventoried and audited, yet his department had accessto only a fraction (4) of all audit reports (13). Experts weigh in as tremors hit Wales, Cornwall and the Are YOU eating the right colours? Fort Knox was thrown open on that Monday afternoon for about 2 hours to some 150 reporters and glad-handing politicians, crowding narrow passageways and elbowing each other for a . Government-owned Gold performed annual audits of Treasurys gold reserves from 1975 to 1986, placing all inventoried gold that it observed and tested under an official joint seal. *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. Although this rumor or theory is simply that, the remarkably high security that guards the U.S. gold reserves has understandably drawn the curiosity of the investigative press. 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). The vault can withstand guns, blowtorches, and other incendiary devices. I also want to assure you that the physical security over the gold reserves is absolute. . Text Alerts, Contact By and large, the vast majority of the verification is done by checking Official Joint Seals. Compared to the samples taken in the 1950s and 60s, the standards for the integrity of the sample size had fallen sharply. The last time Fort Knox had opened its vault to civilians was more than 40 years earlier. At the hearing Thorson presented exhibits to support his case 100 % of the gold held at the US Mint has been audited. initial 1974 Fort Knox audit which was conducted by GAO and Treasury auditors. 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. & Facilities, Shop All He said it took 'quite a bit of time' to get in and out of the facility, and said officials had to cut a seal to open the vault for them. 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. COIN & MEDAL PROGRAMS, History of U.S. Equal Employment Opportunity. 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. 45 New Bridge Road, Singapore 059398 Singapore 35 % first buy in bonus! ( 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. 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 . Senator from Kentucky, where Fort Knox is located. It saves time and labor costs. Exhibit 7.3. Maybe a room or two full of gold but the rest is gone. Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. 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! Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . previous, back to And the last time it was counted was actually in 1953." Military/Civilian clock Examples of Civilian/Military time conversion. The Fort Knox facilitys reputation is thanks to its world-renowned system of security measures, from countless cameras to U.S. Mint Police guards, military helicopters, land mines, fences of barbed and electric wire, and a virtually impregnable vault door. I will, however, submit a couple of new FOIAs at the US government regarding gold audits. Fort Knox is used to store a large portion of United States official gold reserves and occasionally other precious . " He told an audience in Louisville, "I assume the gold is still there.". Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. There was no assay report included in the audit report. 213K subscribers in the Wallstreetsilver community. Kinross - Fort Knox Mine April 22nd, 2021 Signature of Lead Auditor Page 2 of 47 . 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. 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. The OIG audited 3 % from 1993 2008. It lies 30 miles (48 km) southwest of Louisville and occupies an area of 172 square miles (445 square km). At the end of Fiscal Year of 2008, all 42 compartments had been audited by either the GAO, the Committee for Continuing Audit of the U.S. For the first time photographing is being permitted inside the Depository.. I left school at 16 with six GCSEs - and became a self-made millionaire. 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. 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. Questions: This document also contains a summary of the 1980 audit which, by the way, isnt less detailed than the full 1981 report. ByI forget which date it was, I believe by 1986, wehold on just one second here, I got it. For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. The target this time is the United States Treasury Assay Office in New York . 4,243 bars were relocated from vault Jcompartment 19, to vault J compartment 2, at the Denver depository. Your request was received in this office on March 3, 2015 and assigned FOIA case number RD 45578. Jun 5th, 2022 . While the order is not very detailed, in the years that followed the committee started auditing gold stored at the US Mint and at the Federal Reserve Bank of New York (FRBNY). 3. It was also the first visit by a serving US Treasury Secretary since 1948. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. www.smartaccess.us . And the problem goes far beyond missing audit reports. The official story from OIG is that 100 % of the gold stored at Fort Knox was audited in between 1974 and 1986, . Treasury Secretary William E. Simon issued the invitation to Congressmen to inspect the gold at Fort Knox. "good delivery" gold bars. 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. 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. In the meantime I will fire several new FOIAs at the Office of the Inspector General and others. The Mint estimated that as much as one-third of the gold reserves were examined during this period. $800 weekly hand count free roll. Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him. Fort Knox is also on the list of these 10 forbidden places that no one is ever allowed to visit. Even then only 5% of the examined bullion was weighed and assayed to determine its purity. It was decided to destroy several audit and assay reports and no less than 1,700 tonnes needed to be re-audited. . They could only find 2 reports I didnt posses previously, of the audits conducted in 1985 and 1986. Of course,strange things have been stored in the vault, like morphine and opiumduring the early '90s. 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. On the way to the vault, a literal mine field and an electric fence protectthe gold. Coins, American Next, we can see Thorsons list he presented of physical gold audit reports of the continuingaudit program from 1974 to 1986. Buy for Vault Storage in New Zealand 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. In addition to facilities in West Point and Denver, the Fort Knox facilityknown as the U.S. Bullion Depositorystands out for its reputation as an impenetrable fortress. All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. The reports I did find, and are now publicly available, are: Coincidentally, or not, these reports are exactly the same ones as listed by Thorson at the congressional hearing in 2011 (exhibit 1, framed in red). Submitted to: . In an audit conducted at Fort Knox in 1953, 88 ingots were counted for verification. When thinking about these re-audits, threescenarios pop to mind: Why else wouldso much gold have been re-audited? Circulating FORT KNOX MINE ICMC SUMMARY AUDIT REPORT . The assay tests found no irregularities. The US official gold reserves are the worlds greatest by far at 8,134 metric tonnes. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. "We have approximately $200 billion of gold at Fort Knox," said Mnuchin. noting that it was "over 20 years" since the last one. China Gold Import Jan-Sep 797t. Matt Bevin. Although the quality of the gold in the custody of the Federal Reserve Bank of New York cannot be readily assayed,. Here is a rundown of some of Kooss key findings. . Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. To access the gold vault at Fort Knox, you'd need to make your way through a network of security measures. Until 1953, there were serial number audits of the gold and some assaying as I explain but that became costly and time intensive. Koos is in the company of monetary scholar Jim Rickards and former U.S. Representative Ron Paul in publicly campaigning for more transparency in the financial system and the gold market. Weve focused on the first audits of the gold stored by the US Mint. U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. As a freebie trip for 4 select political insiders, last Monday's trip to Fort Knox was undoubtedly a memorable one . The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. 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. He said this, but there is no proof. Talkers Medals, Military in 2004 the assayer was Ledoux & Company, a private contractor (read their homepage). In August 2017, US Treasury Secretary Steve Mnuchinvisited the gold vault at Fort Knox and, along with a few other politicians, surveyed the site. Buy for Vault Storage in the United States All the golden coins that were handed in supposedly accumulated to the greatest gold pile on earth. 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). ALL COIN PROGRAMS, National Purple Heart Hall of In the excel sheet with the bar list of gold stored by the US Mint, published a few years ago, we can see nearly all the gold is low purity roughly 90 % pure very little was 9999 fine. 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. I personally believe that rumor and the bulk of it has been sold off to the rich elites. "Glad the gold is safe!". Several more examples of these blurry situations are shown in the released documents. The last full audit was done in 1953 . 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. Based on glaring conflicts among the Treasury's own documents, this staggering amount of gold disappeared without a trace from 1961 to 1971. . Official joint seal number 932 put in place on September 2, 1982, under the continuing audits of U.S.-owned goldstored at the Mint. And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians. In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. 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. And the vault has also been a setting place for several movies, the most famous being the 1964 James Bond film, Goldfinger when the titular character foiled a plot to contaminate the bullion, 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.