when was the last time fort knox was audited

But, the OIG disclosed assay reports of the audits of 3 % of the US official gold reserves stored by the Mint at the congressional hearing in 2011 (exhibit 3 and 4). Fort Knox is also on the list of these 10 forbidden places that no one is ever allowed to visit. 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. Several more examples of these blurry situations are shown in the released documents. . ', 'All I will say is that it is freakishly well secured,' he said. . 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. Compared to the samples taken in the 1950s and 60s, the standards for the integrity of the sample size had fallen sharply. Jansen found instances in which the Treasurys auditors failed to follow the governments own procedures for the auditing process. The Fort Knox Gold was last audited in the 1950s. 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. Fort Knox Internal Review and Audit Compliance. Quoting from the 1981 report: Gold at the Federal Reserve Bank of New York is audited periodically by examiners of the Board of Governors of the Federal Reserve System, Members of the Committee for Continuing Audits of United States Government-owned Gold representing the Mint and BGFO observed the audits at the invitation of the Board and the Federal Reserve Bank. 'So many dead. However, how trustworthy is this system of accounting? Weve barely come across any independent auditor that saw, counted, weighed or assayed the US official gold reserves. Exhibit 1. One of last year's uproars was the decision by US officials to carry out an audit of these gold vaults. Engraved Prints, Shop All Gift In total there should be 13 reports (1974 1986), 2 already were in my possession (1974 and 1977). 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.. 1126, San Diego, CA, 92128, USA . Three out of thirteen compartments at Fort Knox were audited for inventory and samples were assayed and compared to records currently held by the Mint. initial 1974 Fort Knox audit which was conducted by GAO and Treasury auditors. Circulating In 1953, the US Treasury Department audited Fort Knox, but only around5% of the goldunderwent testingfor purity. However, in some instances, the rationale for moving gold from one compartment to another proved elusive. 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. 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 . 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. 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). Experts weigh in as tremors hit Wales, Cornwall and the Are YOU eating the right colours? but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . 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. 147.3 million ounces of gold is stored at Fort Knox. Let me show you an example of Fort Knox. Then, something very strange happened in 1983. Daily free rolls! "We have approximately $200 billion of gold at Fort Knox," said Mnuchin. More false statements by the auditor have appeared, further eroding its credibility. 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. Fort Knox is used to store a large portion of United States official gold reserves and occasionally other precious . 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. Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! There was nothing left to do but submit a Freedom Of Information Act (FOIA) request. The BGFO and Mint staff was replaced by the OIG and the revised audit procedures were invented as a reason to open several compartments. When will the Beast from the East be at YOUR door? Buffalo Coins, American Eagle Senate Majority Leader Mitch McConnell and other Kentucky politicians went to the United States Bullion Depository at Fort Knox for the first time since 1974, Reassurance: Treasury Secretary Steve Mnuchin tweeted out thanks to the US Mint and confirmed that the gold is all safe. 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. The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. The gold vault at Fort Knox is "encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement." 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. Given all the protection, it seems obvious that billions of dollars worth of gold (or something) indeed resides at Fort Knox. 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. ', 'I assume the gold is still there,' he said. and until 2010, every member of . The door weighs 22 tons and is 21 inches thick, and the roof is bomb proof. The assayer is unknown and no assay reports have been included in the audit reports. The last Congressional visit prior to this occurredin 1974. GAO stands for General Accounting Office, OIG stands for Office of Inspector General. The U.S. gold reserves at Fort Knox are broken into different numbered compartments within the gold vault. Even then only 5% of the examined bullion was weighed and assayed to determine its purity. It basically coveredby 1986, 97 percent of the Government-owned gold held by the Mint had been audited and placed under joint seal. In addition to the gold bricks, Bevin said he got to hold a 1933 double eagle, a $20 gold coin that was never circulated. In July 1985, 11,912,458.207 fine troy ounces of gold were reaudited at the Fort Knox Depository. 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. Not only were the vault compartments at the FRBNY exempt from being sealed, in addition, for an unknown reason assay tests were never performed at the FRBNY! Domestic and International Shipping from Singapore No need to read about these fascinating facts and important events that have shaped the U.S. as we know it today. Why havent we ever seen any assays of coin bars? Single mother faces 170 parking fine after overstaying at McDonald's for just 14 minutes while she treated Man had sex with his wife on bollard in protest after it had been erected by neighbour to stop him parking What will the next pandemic be? 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). 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. At its peak, 649.6 million ounces were stored at Fort Knox on December 31, 1941. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. It was nothing more than a peek-a-boo glance at the gold in fine Hollywood style. Government-owned gold for which Treasury is accountable. 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. Thats 6 down, 7 more to go. The monetary gold stock of the United States totals 276.0 million fine troy ounces valued at $11.7 billion at the official rate of $42.2222 per fine troy ounce, and is stored in various federal depositories (table attached), the largest of which is at Fort Knox, Kentucky. The Gold-Backed-Oil-Yuan Futures Contract Myth, Estimated Chinese Gold Reserves Surpass 20,000t. 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. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . *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. Need Help? 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. Mint Medals, Shop All Paper But Bevin, speaking on WHAS radio, divulged a few more details. If official documents come to surface I will report accordingly. 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. After the Congressional inspection, the Bullion Depository will once again be closed to visitors. From 1993 to 2008 the remaining 3 % of the gold reserves stored at the US Mint hasbeen audited I assume. 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. Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. At Fort Knox, we are about people - great service members, outstanding civilians . All your favorite.50 games all in one club! " He told an audience in Louisville, "I assume the gold is still there.". 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By using our website, you accept that cookies are used. The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . 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. 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.