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. Internal Review & Audit Compliance :: U.S. Army Fort Knox: Gold The 1974/1975 and 1978 reports refer to the audits conducted in 1974 and 1977. 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. I have copied as much quotes in this post as I can to minimize the possibility of an erroneous interpretation of the official text in the audit reports. Fort Knox facts. Secretary Mnuchin's statements were not helpful. 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? Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. And being surrounded by more than $186 billion worth of gold was no sweat for one of the country's most powerful politicians. More false statements by the auditor have appeared, further eroding its credibility. More anomalies with regard to the audits of the US official gold reserves will be discussed in forthcoming posts. We will discuss the remaining 4 audit reports at once, as they are very similar. 1495,not enacted) in 2011 the Inspector General (IG) of the Treasury presented a case all is fine, but all is not fine. 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. And the last time it was counted was actually in 1953." Audit report Fort Knox 1981. ', 'I assume the gold is still there,' he said. Compared to the samples taken in the 1950s and 60s, the standards for the integrity of the sample size had fallen sharply. 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. 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. For the best and most secure experience in our catalog, please update your browser. Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. However, there has been considerable doubt over the years as to whether the depository actually held any gold. Military/Civilian clock Examples of Civilian/Military time conversion. Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. 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. Should America's Gold Reserves Be Audited? - Sound Money Defense Join FORT KNOX code Axykp! What's really inside Fort Knox? The golden secrets of the US Bullion These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. Cookies are also used for the purpose of handling our system and services. Test yourself with this Cockney Rhyming Slang quiz. Exhibit 7.2. 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.. 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 . The inspection by Members of Congress on September 23, 1974, of U.S. gold stocks stored at the Fort Knox (Ky.) Bullion Depository marks a unique departure from the long standing and rigidly enforced policy of absolutely no visitors, Mrs. Mary Brooks, Director of the Mint, announced today. He ought to have known precisely how many pages were needed and presumably where to find them. After the Congressional inspection, the Bullion Depository will once again be closed to visitors. It seems that a portion of the Mint and the U.S. gold reserves were audited in an assay between 1993 and 2008, as you acknowledged. www.smartaccess.us . It was decided to destroy several audit and assay reports and no less than 1,700 tonnes needed to be re-audited. U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. Exhibit 7.3. July 1986 12,477,777.638 [this number Icopied from the 1986 report]. 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. Until 1953, there were serial number audits of the gold and some assaying as I explain but that became costly and time intensive. Two tetrahedron-shaped chips were removed form the top and bottom of each bar assayed. Domestic and International Shipping from Singapore The next screen shot is from the reply by the FOIA help desk on May 6, 2015. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . Exhibit 1. The usage of cookies and the collection of customer information by BullionStar is guided by our. As will conclusions and speculation. He also mentioned that despite this being the first visit by a group of politicians and journalists to Fort Knox since 1974 - he was the first serving Treasury Secretary to visit since 1948. Daily free rolls! Senator from Kentucky, where Fort Knox is located. No irregularities were found. President Reagan last spring demanding that this be looked into immediately. The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion. His advice to me was to try at the General Accounting Office (GAO) and National Archives for more reports. HOME; EVENTS; ABOUT; CONTACT; FOR ADULTS; FOR KIDS; accident on 9w marlboro, ny today The other two-thirds, however, have not been inventoriedthat is according to my understandingor assayed since somewhere between 1975 and 1986. The assayer is unknown and no assay reports have been included in the audit reports. Telephone: (502) 624-2386. ( 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. 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. Try Army A-Z. They could only find 2 reports I didnt posses previously, of the audits conducted in 1985 and 1986. Great! Koos Jansen is a precious metal analyst from the Netherlands. 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. Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. Approximately half the U.S. Treasury's gold is located in the storage facility at Fort Knox The vault can withstand guns, blowtorches, and other incendiary devices. It basically coveredby 1986, 97 percent of the Government-owned gold held by the Mint had been audited and placed under joint seal. Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. Coin 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. An excuse was needed to break the seals. Where's The Gold! ? Is Fort Knox Empty? - common-sense-in-america.com The assay tests found no irregularities. All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? 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. teaching assistant pay netmums; when was the last time fort knox was audited. 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. Despite the fact that a 1953 Fort Knox audit found that 1977% of bullion tested was out of , in 2, we went to 1998% verified ingots. The answer is, he cant. However, a Freedom Of Information Act request Ive submitted in order to obtain all audit reports could not be honored. U.S. Mint Releases Fort Knox Audit - CoinWeek However, if that intruder had turned to the west he would have . Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. However, as Ive written in my post Where Did The Gold In Fort Knox Come From? Matt Bevin. 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. At the congressional hearing of the Gold Transparency Act in 2011 Inspector General (IG) Eric Thorson stated: Before I discuss the details of the audits that are the topic of this hearing, I want to make one point very clear: 100 percent of the U.S. Governments gold reserves in the custody of the Mint has been inventoried and audited. "We have approximately $200 billion of gold at Fort Knox," said Mnuchin. 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. Secretary of the Treasury Steven Mnuchin visited Fort Knox on August 21. If we carefully read the scarce audit reports available to us, wenotice the audit procedures were revised in 1983. *For all other publicly available audit reports (1980, 1981, 1985, 1986) its very briefly mentioned assay tests were conducted, presumably for one in every fiftieth melt. One wonders: was this a simple oversight or some kind of conscious obfuscation effort? The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . Donald Trump Doesn't Think So. Much of this newfound gold came into government coffers as a result of President Franklin Roosevelts executive order confiscating privately held gold in 1933. Fort Knox is in Romeo (R) time. Company Registration No. At various times, it has been used to store other valuable items, such as the Declaration of Independence, one of the four copies of the Magna Carta, and the crown jewels of foreign nations. when was the last time fort knox was audited. 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. Located in Kentucky, Fort Knox is a United States Army base whichhouses most of the US's gold reserves. Submitted to: . 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!' U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. Does The Fort Knox Gold Really Exist? | Gold Eagle 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. The only audit that has ever been done of the gold inside Ft Knox was done days after Dwight Eisenhower became President in January of 1953. Find out what Uber drivers really think of you! There Is Gold in Fort Knox | Newsmax.com 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. For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. Is the Coin Market Sleeping on Fairmont Collection Gold Coins? Also, the assay test results from last year's gold audits at Fort Knox and West Point were Kids, Gifts for Welcome to the Coronation! 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. 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). When thinking about these re-audits, threescenarios pop to mind: Why else wouldso much gold have been re-audited? A second storage facility was built at the same time: . I'm a vet, and here are five dog breeds most prone to cancer - including Golden Retrievers and Rottweilers. A Fort Knox physical gold audit in 1953 was anything but full, neither was the famous audit in 1974. The auditors were bored and decided to re-audit 1,700 tonnes. Miles Franklin sponsored this article by Gary Christenson.The opinions are his, and they are not investment advice. Government-owned Gold, or my office, and placed under official joint seals. Over 640,000,000 ounces of real money sat behind those massive locked doors. By and large, the vast majority of the verification is done by checking Official Joint Seals. Mnuchin's Visit to Fort Knox l JM Bullion The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. GAO stands for General Accounting Office, OIG stands for Office of Inspector General. Kinross Gold Corporation's Fort Knox Mine Achieves Fifth Certification According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. di Only One President Has Ever Been Inside Fort Knox Why Is It - Ranker He said this, but there is no proof. 213K subscribers in the Wallstreetsilver community. . US Army Cadet Command Headquarters | Military Base Guide Other problems sound laughable in their incompetence. Shipping within New Zealand.