In addition to the gold bricks, Bevin said he got to hold a 1933 double eagle, a $20 gold coin that was never circulated. 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. 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. 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). In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. 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). The Fort Knox Gold was last audited in the 1950s. Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! July 21, 2017 7:24AM. When will the Beast from the East be at YOUR door? Until 1953, there were serial number audits of the gold and some assaying as I explain but that became costly and time intensive. The Mint estimated that as much as one-third of the gold reserves were examined during this period. Government-owned Gold, or my office, and placed under official joint seals. Thats 6 down, 7 more to go. Fort Knox Gold: Once upon a time, the Fort Knox Bullion Depository was a vast storehouse for American gold. Revealed: The top 10 fastest-growing destinations for UK pensioners retiring overseas. 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. For your information, we contacted a librarian at the Treasury Department who informed us that reports from Committee for Continuing Audit of the U.S. The next screen shot is from the reply by the FOIA help desk on May 6, 2015. Tuesday March 22, 2016 13:20. 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. 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. 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. 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. The First Critical Observations. PBOC Gold Purchases: Separating Facts from Speculation. After writing it Ive been trying to collect all audit reports dating from1974 1986. 213K subscribers in the Wallstreetsilver community. Engraved Prints, Shop All Gift The gold at Fort Knox is stored in one of the most secure facilities in the world. It was nothing more than a peek-a-boo glance at the gold in fine Hollywood style. Buy for Vault Storage in the United States However, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. The Treasury document says it would cost about $15 million to conduct an audit. This is basically an affirmation that the bullion was up to snuff at the last audit, and has been sealed since. At this stage I havent been able to get my hands on any assay report from 1974 1986. 1126, San Diego, CA, 92128, USA . Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. 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. 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. 'It just kind of came up as a result of a casual conversation,' McConnell said. The target this time is the United States Treasury Assay Office in New York . The last time anyone had access to inspect the deposits was on September 23, 1974. . Talkers Medals, Military 97 percent of the gold was checked and sealed in an audit that ended in 1986, and annual partial audits by a third-party accounting firm continued after that, he said. 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. A waiting list may be required and part-time or hourly care may need special planning depending on demand, mission requirements, etc . There has not been any movement of inventoried gold since that time. 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. Kids, Gifts for 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. By also inviting the press to witness the Congressional inspection, the Mint is clearing away cobwebs and re-assuring the public that their gold is intact and safe. There was no assay report included in the audit report. The assay tests found no irregularities. Coins, American 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. Interactive map reveals when you may see SNOW. For the other years we dont know whatoffice performed the checks. As a newcomer to Fort Knox, you are a part of the Gold Standard team that is making the Army's vision a reality. Here is a rundown of some of Kooss key findings. American $1 Coins, SHOP Us, ALL Liberty, Bush 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. However, there has been considerable doubt over the years as to whether the depository actually held any gold. Even then only 5% of the examined bullion was weighed and assayed to determine its purity. 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. Of course,strange things have been stored in the vault, like morphine and opiumduring the early '90s. The fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic. Site, Coin Fort Knox history. 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. 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. *For the audits performed in 1975, 1976, 1978, 1979, 1982, 1983 and 1984 under the continuing audits program allegedly 1 in 50 melts has been assayed, although there are no audit reports, nor assay reports, nor do we know who the assayer was. 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!' Phone: +65 6284 4653, Chinas Secret Gold Supplier Is Singapore, Audits Of US Monetary Gold Severely Lack Credibility. His advice to me was to try at the General Accounting Office (GAO) and National Archives for more reports. The compartments at the Mint were placed under official joint seal, whereas the FRBNY compartments were never placed under official joint seal (as we can read on page 11 of the 1980 audit report). However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. Determined to uncover more about the bullion stockpile, BullionStars Koos Jansen submitted a number of Freedom of Information Act (FOIA) requests to the U.S. Mint. Fort Knox Internal Review and Audit Compliance. The last time Fort Knox was audited was in 1953, immediately after President Eisenhower was inaugurated. Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, U.S. for Dads, American Women's History Coins & ', 'I assume the gold is still there,' he said. HOME; EVENTS; ABOUT; CONTACT; FOR ADULTS; FOR KIDS; accident on 9w marlboro, ny today It seems these 6 reports (5 documents) are the only ones currently in existence and the remaining 7 have mysteriously disappeared. 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. 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. 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. ByI forget which date it was, I believe by 1986, wehold on just one second here, I got it. 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. About 000% of them were weighed. Fort Knox is also on the list of these 10 forbidden places that no one is ever allowed to visit. The public may never know. Then, something very strange happened in 1983. Also, the assay test results from last year's gold audits at Fort Knox and West Point were And there is more, a lot more. The answer is, he cant. Secretary Mnuchin's statements were not helpful. random nose bleed covid. BY . 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. ALL COIN PROGRAMS, National Purple Heart Hall of 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. Much of this newfound gold came into government coffers as a result of President Franklin Roosevelts executive order confiscating privately held gold in 1933. (in millions of ounces), SIGN UP FOR EMAIL UPDATES AND TEXT MESSAGE ALERTS ABOUT PRODUCTS. Buffalo Coins, American Eagle This suggests the gold at the FRBNY was stored so it could be easily transportedin and out of the vaults, possibly through a corridor to the adjacent private vault at 1 Chase Manhattan Plaza read this post by BullionStar gold researcher Ronan Manly for more information on the construction of the FRBNY vault and the connection to the vault across the street that was owned by JP Morgan, but recently bought by Fosun (October 2013), a Chinese investment conglomerate. Metal Coins, back to Cookies are also used for the purpose of handling our system and services. Not that it would be easy to even make it this far, but the door to the vault is made of steel and . 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. No need to read about these fascinating facts and important events that have shaped the U.S. as we know it today. Two tetrahedron-shaped chips were removed form the top and bottom of each bar assayed. For the best and most secure experience in our catalog, please update your browser. All the golden coins that were handed in supposedly accumulated to the greatest gold pile on earth. 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. Answer (1 of 2): Internally, it is done annually. Contact Us. Representative Alex Mooney (R . Located in Kentucky, Fort Knox is a United States Army base whichhouses most of the US's gold reserves. Ideas, Gifts for 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). The OIG audited 3 % from 1993 2008. 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. Great! In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. 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. At the hearing Thorson presented exhibits to support his case 100 % of the gold held at the US Mint has been audited. Newborns, Gifts At the congressional hearing of the Gold Transparency Act (H.R. Try Army A-Z. They wrote me by email: Mr. Nieuwenhuijs our Office of Audit found: as well as GAOs 1974/1975 and 1978 reports. 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. Thats everything we have, or are aware of. A second storage facility was built at the same time: . This post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits. Gold verification at Fort Knox March 1998, page 1. 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. Why havent we ever seen any assays of coin bars? Since 1993, when we assumed responsibility for the audit, my office has continued to directly observe the inventory and test the gold. Published: 22:22 GMT, 21 August 2017 | Updated: 06:57 GMT, 22 August 2017, Honored guests: Treasury Secretary Steve Mnuchin (left) and Senate Majority Leader Mitch McConnell (right) outside the main door to the United States Bullion Depository at Fort Knox on Monday. As will conclusions and speculation. It was decided to destroy several audit and assay reports and no less than 1,700 tonnes needed to be re-audited. fort knox crisis phone numbers. 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. noting that it was "over 20 years" since the last one. Small quantities of gold are removed to test the purity during regularly scheduled audits. A separate post will be dedicated to KPMG. U.S. Army Cadet Command Headquarters is located inside the Fort Knox installation which is located roughly 35 miles south of Louisville, Kentucky. 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. For the sake of simplicity, lets say I have both audit reports, 1980 and 1981. Koos Jansen is a precious metal analyst from the Netherlands. CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. More than half of . There was nothing left to do but submit a Freedom Of Information Act (FOIA) request. 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 If official documents come to surface I will report accordingly. This document also contains a summary of the 1980 audit which, by the way, isnt less detailed than the full 1981 report. The auditors were bored and decided to re-audit 1,700 tonnes. Exhibit 1. The Fort Knox facility, a hyper-secure fortress in Kentucky that is part of quintessential American lore, is . Between 1933 and 1937, this increased . FORT KNOX MINE ICMC SUMMARY AUDIT REPORT .
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