Kooss analysis of the procedures used found its rigor wanting in several key areas. ', 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, 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. US Mint Provided Fort Knox Gold Audit Documents!! when was the last time fort knox was audited Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. It was decided to destroy several audit and assay reports and no less than 1,700 tonnes needed to be re-audited. Internal Review & Audit Compliance :: U.S. Army Fort Knox: Gold Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. US Mint Releases New Fort Knox Audit Documentation. All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? in 2004 the assayer was Ledoux & Company, a private contractor (read their homepage). The First Critical Observations. The public may never know. Fort Knox and The Missing Gold! - Strange Unexplained Mysteries In June 1975 the Secretary of the Treasury authorized the continuing audits of the US owned gold stock. 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 Congressional inspection adheres to the new open door policy of the government announced by President Ford. Though the media and members of government were allowed access in 1974 to take pictures, the last actual audit of Fort Knox occurred in 1953 immediately after President Dwight Eisenhower's inauguration. Exhibit 7.2. The assayer is unknown and no assay reports have been included in the audit reports. Interactive map reveals when you may see SNOW. Text Alerts, Contact Gold verification at Fort Knox March 1998, page 3. Jansen found instances in which the Treasurys auditors failed to follow the governments own procedures for the auditing process. And the problem goes far beyond missing audit reports. di 1126, San Diego, CA, 92128, USA . Mnuchin's PR Visit to Fort Knox proves nothing about the - GoldSeek 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. It was obvious that some of the records were missing (or not provided). After the gold was audited by the Continuing Audit committee all compartments were placed under Official Joint Seal. Only One President Has Ever Been Inside Fort Knox Why Is It - Ranker 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. Find out what Uber drivers really think of you! *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. Two months later I still got no response. 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. He attempted to pinpoint how the Treasury Department verifies that the gold in its vault is both present and real. 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 . 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. A waiting list may be . I did read one time that the queen of England a. On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued. ', 'All I will say is that it is freakishly well secured,' he said. According to some sources, this is where most of the other Treasury's gold is located. Kids, Gifts for Did audit reveal missing gold . The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . The process would take about 30 minutes to verify the gold content of each bar, or 350,000 man hours; to do that . 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. Reversal of this policy on a one time only basis came as a result of a series of peculiar events that resulted in a congressional demand for an audit of the bullion depository, and a first-hand viewing of the gold deposited there. In 1977 the New York assay office, which is a subsidiary of the US Mint, conducted the assays. Upload by MysteryManagement Fort Knox and the gold dipped tungsten bars - Michael Rivero showAre the gold bars in Fort Knox really made of the precious metal. Fort Knox Looted of 7,000 Tons of Gold in 1973-1974 says 1981 Article! The target this time is the United States Treasury Assay Office in New York . Dollars, Native It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. 15919 Avenida Venusto, Apt. 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!' By and large, the vast majority of the verification is done by checking Official Joint Seals. When I logged in at my account at the FOIA website, I saw my request had disappeared. Fort Knox | Military Base Guide No outside experts were allowed on the site for the audit, either,providingfodder for all kinds of conspiracy theorists. Ron Paul worries Fort Knox gold is gone. 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. Same story at the US Mint and US National Archives. Fort Knox Operation . US Mint Releases New Fort Knox "Audit Documentation": First Critical 147.4 million fine troy ounces, valued at $6.2 billion, is stored in 13 . (in millions of ounces), SIGN UP FOR EMAIL UPDATES AND TEXT MESSAGE ALERTS ABOUT PRODUCTS. previous, back to No photographs were allowed, of course. Also, the assay test results from last year's gold audits at Fort Knox and West Point were 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. Since there are far too many gold bars to count at once, the audit is carried out piecemeal and only small samples are taken for assaying. Doubts About America's Official Gold Holdings: The US Gold Reserve 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. 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. The fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic. Test yourself with this Cockney Rhyming Slang quiz. Sets, Commemorative A second storage facility was built at the same time: . : 201217896Z During fiscal year 1986, gold was audited at the West Point Bullion Depository, and the San Francisco Old Mint under the initial continuing audit program. In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. 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. One of the mostsecure andinaccessible places in the world, the facility once held the Declaration of Independence and Bill of Rights. US Mint Releases New Fort Knox "Audit Documentation". The First Domestic and International Shipping from Singapore The intention in 1975 was to audit the gold at the FRBNY, but then, a few years down the road the gold at the New York Fed was mysteriouslyexempt from the continuing audits program. Meanwhile I was fortunate to find the 1981 audit report at the website The Golden Sextant fromReg Howe. In performing the audit, the gold bars are physically moved from one vault compartment to another. Fort Knox opens famed vault to civilians after 40 years Lets read more about the audits at the FRBNY conducted under the continuing audits program, a quote from the 1981 report: The audit procedures followed [at the FRBNY] are essentially the same as those followed at Bureau of the Mint depositories, except that assay samples are not taken to verify the purity of the gold. ALL COIN PROGRAMS, National Purple Heart Hall of It saves time and labor costs. Questions: Secretary Mnuchin's statements were not helpful. Thats everything we have, or are aware of. Between 1933 and 1937, this increased . Moreover, it showed a number of (at best) inconsistencies in how the mint conducts its bullion inspection for auditing purposes. Where's The Gold! ? Is Fort Knox Empty? - common-sense-in-america.com Select stock location for your desired country in the dropdown to view our inventory available in that country. The Treasury document says it would cost about $15 million to conduct an audit. For the best and most secure experience in our catalog, please update your browser. I will, however, submit a couple of new FOIAs at the US government regarding gold audits. Next was the GAO; unfortunately they couldnt deliver anything I was looking for. No need to read about these fascinating facts and important events that have shaped the U.S. as we know it today. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. After some correspondence back and forth I finally got an email saying my FOIA was exported out of FOIAonline because myrequest was for access to historical records. No irregularities were found. Gold all there when Ft. Knox opened doors - Numismatic News However, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. The results of the assays by Ledoux & Company and White Sands Missile Range presented by the OIG at the congressional hearing show nearly all 9999 fine gold (see exhibit 3, or read page 62 to 124 from this document). The Fort Knox facility was opened within the year, and took its first shipment of gold in 1937. when was the last time fort knox was audited - hugs.finance Fort Knox Gold - History of Fort Knox | BullionByPost 211 votes, 25 comments. This is remarkable. 213K subscribers in the Wallstreetsilver community. The Mint estimated that as much as one-third of the gold reserves were examined during this period. 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. United States Mint All Rights Reserved. Royal Mint Launches First Coin in Myths and Legends Collection, Numismatic Crime Counterfeit Notes Sold Over Facebook, 1776 Continental Dollar Offered by David Lawrence Rare Coins, Grade This 1936-S Cincinnati Commemorative Silver Half Dollar, First King Charles III Coin From Pobjoy Celebrating the Accession, Dakota 1875 $5 Bank Note in Stacks Bowers Spring Auction. The One "Audit" Of Fort Knox. 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. Audit report Fort Knox 1981. Site, Coin The audit will be performed by a committee of auditors from the U.S. General Accounting Office (GAO) and the Department of the Treasury. The Armored Force School and the Armored Force Replacement Center began operations at Fort Knox in October 1940. The last time anyone had access to inspect the deposits was on September 23, 1974. . Monetary Gold Stock of the United States PBOC Gold Purchases: Separating Facts from Speculation. These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. U.S. President Franklin D. Roosevelt passed legislation outlawing private ownership of gold, and gave instruction to build the depository at . 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. I left school at 16 with six GCSEs - and became a self-made millionaire. 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. As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. 35+ Mind Blowing Fort Knox Facts How Many Did You Know The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. The Fort Knox Gold was last audited in the 1950s. 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. The BGFO and Mint staff was replaced by the OIG and the revised audit procedures were invented as a reason to open several compartments. Newborns, Gifts 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.. The Gold-Backed-Oil-Yuan Futures Contract Myth, Estimated Chinese Gold Reserves Surpass 20,000t. Other problems sound laughable in their incompetence. fort knox crisis phone numbers. Pursuant to that order, the Committee for Continuing Audit of the U.S. Tuesday March 22, 2016 13:20. The comments below have not been moderated. 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. The New Year kicked off . Then, something very strange happened in 1983. Then, the official response from the offline department to my request I received on May 13 as a PDF attachment (click here to view) oddly enough itsdated March 25, 2015 but not sent to me at thetime.