This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. Jansen is a longtime gold insider and journalist reporting on, for example, the goings-on of the incipient Shanghai Gold Exchange (SGE). Others claim the goldis actually justtungsten bricks painted to look like the precious metal. Between July 1983 and July 1985 the gold was audited in accordance with the plan approved by the Treasurer, as follows. I shall rest here. Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. July 21, 2017 7:24AM. In the meantime I will fire several new FOIAs at the Office of the Inspector General and others. A waiting list may be . Did The Dutch Central Bank Lie About Its Gold Bar List? 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. Government-owned gold for which Treasury is accountable. The last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. Mint Medals, Shop All Paper However, if that intruder had turned to the west he would have . Connecting thereto, from Thorsons opening statement: My office began conducting annual audits of the gold reserves in Fiscal Year 1993. Fort Knox Policies. 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. Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. Equal Employment Opportunity. Each and every bar there should be assayed in a full, independent audit. In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. Is the Coin Market Sleeping on Fairmont Collection Gold Coins? ( 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. July 1986 12,477,777.638 [this number Icopied from the 1986 report]. 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. "We have approximately $200 billion of gold at Fort Knox," said Mnuchin. Matt Bevin. Honor, Rolls, The process would take about 30 minutes to verify the gold content of each bar, or 350,000 man hours; to do that . Several more examples of these blurry situations are shown in the released documents. American $1 Coins, SHOP 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. Coin bars are assaying 899 to 901 per mille or 915 1/2 to 917 per mille,roughly 90 % pure, and these types of bars allegedly form the bulk of the US official gold reserves. However, how trustworthy is this system of accounting? 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). 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 vault compartments at Fort Knox Bullion Depository. Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. There was no assay report included in the audit report. In June 1975 the Secretary of the Treasury authorized the continuing audits of the US owned gold stock. Liberty, Bush 'It's not even the annual funding level for some of our large departments in the federal government,' he said. Your request was received in this office on March 3, 2015 and assigned FOIA case number RD 45578. Same story at the US Mint and US National Archives. The audit announced, however, would include just 20% of the gold. Try Army A-Z. Shipping within the United States Fort Knox is also on the list of these 10 forbidden places that no one is ever allowed to visit. The day of the Mary Brooks tour of Fort Knox, September 23, 1974, the Treasury announced that for the first time in twenty-one years, they would agree to an audit of the U.S. gold reserve. Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. 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. Located in Kentucky, Fort Knox is a United States Army base whichhouses most of the US's gold reserves. A separate post will be dedicated to KPMG. Exhibit 7.2. 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. I left school at 16 with six GCSEs - and became a self-made millionaire. The New Year kicked off . In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. 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. 312 tonnes of the total is 4 %. In short, the US National Archives could not extradite the 7 audit reports I requested. Bevin, who said he collected coins as a child, compared it to 'seeing a leprechaun on a unicorn. The 1974 Fort Knox audit by the GAO has been acknowledged and adopted by the continuing audits committee, so this it becamepart of the continuing audits. McConnell said he had never thought about visiting Fort Knox before, but jumped at the chance when Mnuchin offered to take him. It was decided to destroy several audit and assay reports and no less than 1,700 tonnes needed to be re-audited. Site, Coin The gold is held as an asset at a value of $42.22 per ounce. Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself. Ive found many anomalies that well discuss. How can the IG be positive if he did not have access to the most basic documentation? Koos Jansen. Find out what Uber drivers really think of you! in 2004 the assayer was Ledoux & Company, a private contractor (read their homepage). Next was the GAO; unfortunately they couldnt deliver anything I was looking for. However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. 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. The auditors were bored and decided to re-audit 1,700 tonnes. & Sales Figures. 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. When the mint finally produced the audit documentation, Jansen received 134 lightly redacted pages (rather than the estimated total of 1,200 pages). : 201217896Z 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. In 1983 the OIG found out something was amiss with the audits performed 1974 1982. and until 2010, every member of . For the best and most secure experience in our catalog, please update your browser. Military/Civilian clock Examples of Civilian/Military time conversion. 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? The OIG audited 3 % from 1993 2008. The assay tests found no irregularities. I decided to send an email to the FOIA online Help Desk to ask what happened to my request. Not that it would be easy to even make it this far, but the door to the vault is made of steel and . Us, ALL Jun 5th, 2022 . In 1974, after the US closed the gold window, congressional support grew for inquiring into the US gold stock. 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. 147.3 million ounces of gold is stored at Fort Knox. 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. 'It just kind of came up as a result of a casual conversation,' McConnell said. 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. The first screen shots below are from a gold verification at Fort Knox in March 1998. They could only find 2 reports I didnt posses previously, of the audits conducted in 1985 and 1986. Next, we can see Thorsons list he presented of physical gold audit reports of the continuingaudit program from 1974 to 1986. "Glad the gold is safe!". . Ron Paul worries Fort Knox gold is gone. Select stock location for your desired country in the dropdown to view our inventory available in that country. 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. Until 1953, there were serial number audits of the gold and some assaying as I explain but that became costly and time intensive. Kids, Gifts for Instead, I was advised to contact the Treasury. Why havent we ever seen any assays of coin bars? It was also the first visit by a serving US Treasury Secretary since 1948. After the Congressional inspection, the Bullion Depository will once again be closed to visitors. The last full audit was done in 1953 . 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. Here is a rundown of some of Kooss key findings. Government-owned Gold, or my office, and placed under official joint seals. 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). Fort Knox claims billions of dollars worth of gold are stored away in its secret vault. 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. 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. 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. 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 . I'm a vet, and here are five dog breeds most prone to cancer - including Golden Retrievers and Rottweilers.