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. 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 public may never know. 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. An overview starting from 1953: *In the 1953 report we could read 26 bars (0.00002 % of the total stash at that time) were assayed from bore samples. This would last until 2010 when the Armor School was relocated to Fort Benning, Georgia. While the gold at Fort Knox was partially audited in the past, the gold at the Federal Reserve Bank of New York was never looked at. The reports from 1974 and 1977 weve extensively analyzed in my previous post Second Thoughts On US Official Gold Reserves Audits, published on February 9, 2015. Fort Knox facts. 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. 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. Fort Knox Internal Review and Audit Compliance. 'The gold is safe.'. 147.3 million ounces of gold is stored at Fort Knox. A congressional delegation and some journalists got a look at the gold in 1974. Many conspiracy theorists - like the Gold Anti-Trust Action Committee (GATA)- believe the gold doesn't really exist, there isn't as much as the government claims, or the government has sold it off for years. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. Coins, American Coin The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. www.smartaccess.us . 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. By the end of 1982 the continuing audits committee, which consisted of BGFO and US Mint staff, was reorganized under the Department of the Treasury, Office of the Inspector General. Then let's raise a glass to a slower, quieter 2022 . *Its likely 97 % of the audited gold by the continuing audits committee has not been assayed by an independent assayer. Text Alerts, Contact While this sum is unreasonable, a crowdfunding campaign donated the total in less than 24 hours (strangely enough, the Mint never actually cashed Kooss check, and nearly all of the money was eventually refunded.). Ledoux & Company found no irregularities in 2004. In 1974, WCPO Anchor Al Schottelkotte got a rare look inside the gold vault at Fort Knox, Kentucky. This is largely due to a well-circulated rumor during the 1970s that the vaults had been emptied by elites in banking in government, either leased out or confiscated. Us, ALL "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". 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. I did read one time that the queen of England a. So, what's really inside Fort Knox? 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. Fort Knox, Kentucky is an Army base with more than one hundred thousand acres stretching across three counties. 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). Shipping within New Zealand. While primarily known as a vault for gold, the depository also held the Declaration of Independence and the U.S. Constitution during World War II. 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. U.S. President Franklin D. Roosevelt passed legislation outlawing private ownership of gold, and gave instruction to build the depository at . The last time that Congress audited it was 2019. Fort Knox: "Glad Gold Is Safe!". 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. U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. In performing the audit, the gold bars are physically moved from one vault compartment to another. 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. Gold verification at Fort Knox March 1998, page 2. Between 1933 and 1937, this increased . noting that it was "over 20 years" since the last one. Its glittering gold . Sets, Commemorative 211 votes, 25 comments. The Counsel to the Inspector General Department of the Treasury told me his department only had 4 of the 13 reports I was looking for. Is the Coin Market Sleeping on Fairmont Collection Gold Coins? In another dubious mix-up, a number of measurements were faulty because the auditors misread where the decimal point was on the scale. 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. Weve focused on the first audits of the gold stored by the US Mint. Save my name, email, and website in this browser for the next time I comment. & Medal Programs, Tours Representative Alex Mooney (R . Exhibit 2. eonon change home screen. Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. His visit was the one and only time a gold vault was opened for inspection for anyone other than authorized personnel. 'It just kind of came up as a result of a casual conversation,' McConnell said. $800 weekly hand count free roll. 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. Official Joint Seal inspection records from Fort Knox, June 1998 (courtesy of Koos Jansen through Freedom of Information Act). The Facebook predator who lured schoolgirls to run away with him is one of 7,000 sex fiends who offended Do not sell or share my personal information. A barrel is worth about $1,200 or $2.88 per pound which is 10-18 times the value of U.S. crude oil. July 1986 12,477,777.638 [this number Icopied from the 1986 report]. Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. From the 1985 report: : 201217896Z Over 640,000,000 ounces of real money sat behind those massive locked doors. 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. 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. Great! 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 . 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. The answer is, he cant. Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. 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. FORT KNOX MINE ICMC SUMMARY AUDIT REPORT . The gold is held as an asset at a value of $42.22 per ounce. 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). Others claim the goldis actually justtungsten bricks painted to look like the precious metal. After the gold was audited by the Continuing Audit committee all compartments were placed under Official Joint Seal. As will conclusions and speculation. United States Mint All Rights Reserved. An intruder standing on the roof of the Fort Knox Bullion Depository on the morning of September 11, 2015 would have seen the sunrise in the east. To access the gold vault at Fort Knox, you'd need to make your way through a network of security measures. 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. In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. Although the quality of the gold in the custody of the Federal Reserve Bank of New York cannot be readily assayed,. They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. 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 . 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! The last full audit was done in 1953 . However, if that intruder had turned to the west he would have . 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. Jun 5th, 2022 . All the golden coins that were handed in supposedly accumulated to the greatest gold pile on earth. Medals, Treasury and Buy for Vault Storage in New Zealand Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. Also, the assay test results from last year's gold audits at Fort Knox and West Point were Questions: Not that it would be easy to even make it this far, but the door to the vault is made of steel and . Given the date range of your request 1975-1984, the nature of the report an annual audit of gold, and the fact that reports of similar type have been periodically published on the Internet, it is likely that copies and drafts of these reports are in the legal and physical custody of the Department of the Treasury. McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. We are no longer accepting comments on this article. Same story at the US Mint and US National Archives. And we attempted to contact a records management officer at the Treasury Department, but did not receive a reply as of the date of this letter. Ultimately, the Mint concluded that Koos would need to pay over $3,000 in order to have the documents gathered and copied. However, there has been considerable doubt over the years as to whether the depository actually held any gold. With regardto my quest for all reports, lets have a look what US government departments could not deliver whatI was looking for: First was the Counsel to the Inspector General Department of the Treasury. 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. Next was the GAO; unfortunately they couldnt deliver anything I was looking for. It was decided to destroy several audit and assay reports and no less than 1,700 tonnes needed to be re-audited. 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. In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 . 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. 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. 1495,not enacted) in 2011 the Inspector General (IG) of the Treasury presented a case all is fine, but all is not fine. One wonders: was this a simple oversight or some kind of conscious obfuscation effort? . It saves time and labor costs. 15919 Avenida Venusto, Apt. The reports were not present at the National Archives, the OIG or at the Treasury Department. No need to read about these fascinating facts and important events that have shaped the U.S. as we know it today. 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. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. Newborns, Gifts The Treasury document says it would cost about $15 million to conduct an audit. The audits were conducted in accordance with the revised audit guidelines that required a statistical sample of gold melts within randomly selected compartments at the facilities. Exhibit 7.1. If we carefully read the scarce audit reports available to us, wenotice the audit procedures were revised in 1983. Buy, ship and store bullion with BullionStar in/from different countries. The next screen shot is from the reply by the FOIA help desk on May 6, 2015. Page Last Modified: 8/26/19, 2:56 PM Fort Knox, KY. Our Nation's Gold Standard Army Home. The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. China Gold Import Jan-Sep 797t. Tiger Woods unleashes his lawyers on porn site after it Bannon is 'going to war' against Jared, 'crying Ivanka' and A whole hue world! Do you think it would be worthwhile, at least, to inventory and assay this portion of the Mint-held gold? Revealed: The top 10 fastest-growing destinations for UK pensioners retiring overseas. You may consider submitting a FOIA request directly to the Treasury Department. In 1983 the OIG found out something was amiss with the audits performed 1974 1982. 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. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. It was also the first visit by a serving US Treasury Secretary since 1948. I decided to send an email to the FOIA online Help Desk to ask what happened to my request. No outside experts were allowed on the site for the audit, either,providingfodder for all kinds of conspiracy theorists. Other problems sound laughable in their incompetence. At the hearing Thorson presented exhibits to support his case 100 % of the gold held at the US Mint has been audited. The fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic. Last time: This picture dates from 1974 - the last time civilians were allowed inside - and shows Mrs. Mary Brooks, Director of the Mint surrounded by gold in one of Fort Knox's vaults 35 % first buy in bonus! Did audit reveal missing 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. Much of this newfound gold came into government coffers as a result of President Franklin Roosevelts executive order confiscating privately held gold in 1933. Metal Coins, back to Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. Until 1953, there were serial number audits of the gold and some assaying as I explain but that became costly and time intensive. Kinross - Fort Knox Mine April 22nd, 2021 Signature of Lead Auditor Page 2 of 47 . 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. 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. More from 1981 report: The continuing audit is being conducted on a cyclical basis because of the enormous quantity of gold to be handled and the related costs. Domestic and International Shipping from Singapore Sevenreports are missing. As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. At this stage I havent been able to get my hands on any assay report from 1974 1986. When I logged in at my account at the FOIA website, I saw my request had disappeared. Only one president has ever been inside -and the US Mint remains largely mum on the contents of the vault -making Fort Knox a hotbed for conspiracy theories. The One "Audit" Of Fort Knox. The last Congressional visit prior to this occurredin 1974. 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. ALL COIN PROGRAMS, National Purple Heart Hall of . His advice to me was to try at the General Accounting Office (GAO) and National Archives for more reports. The Armored Force School and the Armored Force Replacement Center began operations at Fort Knox in October 1940. Fort Knox gold subject of hearing. The Gold-Backed-Oil-Yuan Futures Contract Myth, Estimated Chinese Gold Reserves Surpass 20,000t. Instead, I was advised to contact the Treasury. 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 gold stored in these compartments would get moved around if samples were taken for assaying during the audit. The First Critical Observations. 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. At its peak, 649.6 million ounces were stored at Fort Knox on December 31, 1941. 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. 'It would really be quite a movie if we walked in and there was no gold. According to some sources, this is where most of the other Treasury's gold is located. 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. 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. The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. Government-owned Goldare not in our collection." 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. 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. Shipping within the United States 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. Let me show you an example of Fort Knox. Fort Knox Operation . 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. In short, the US National Archives could not extradite the 7 audit reports I requested. 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. 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. Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. 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.