Exhibit 7.1. Jansen is a longtime gold insider and journalist reporting on, for example, the goings-on of the incipient Shanghai Gold Exchange (SGE). GAO stands for General Accounting Office, OIG stands for Office of Inspector General. Remember, were investigating the audits of the greatest gold hoard on earth, which underpins the world reserve currency the US dollar. The Treasury document says it would cost about $15 million to conduct an audit. Plus, US Mint Police remain a constant presence, and preside over the grounds from four machine gun towers placed around the perimeter. Find out what Uber drivers really think of you! 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). Ron Paul introduced a bill that would require the Fed to manually audit every U.S.-owned gold . I also want to assure you that the physical security over the gold reserves is absolute. One of last year's uproars was the decision by US officials to carry out an audit of these gold vaults. 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 . Between 1933 and 1937, this increased . Then, from 2005 to 2008 the assay tests were conducted by White Sands Missile Range, which is a subsidiary of the US army. 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. The New Year kicked off . When I logged in at my account at the FOIA website, I saw my request had disappeared. Answer (1 of 2): Internally, it is done annually. According to official statistics, the United States holds far and away the largest gold reserves of any sovereign nation or supranational institution. Exhibit 7.3. At the congressional hearing of the Gold Transparency Act (H.R. 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. Compartments audited at Mint institutions and depositories are kept under official joint seal by representatives of the audit committee. $800 weekly hand count free roll. 2023 DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. www.smartaccess.us . 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 The last trial was a "hybrid" SAG, with one cyclopac underflow feeding the . Fort Knox is supposedly filled with 400 oz. The Fort Knox Gold was last audited in the 1950s. 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. The novel begins: 7:20 am, September 11, 2015. Ive found many anomalies that well discuss. His advice to me was to try at the General Accounting Office (GAO) and National Archives for more reports. 4,243 bars were relocated from vault Jcompartment 19, to vault J compartment 2, at the Denver depository. Honor, Rolls, 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). 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. 1126, San Diego, CA, 92128, USA . *Its likely 97 % of the audited gold by the continuing audits committee has not been assayed by an independent assayer. We will discuss the remaining 4 audit reports at once, as they are very similar. Hisstatement 100 percent of the U.S. Governments gold reserves in the custody of the Mint has been inventoried and audited is impossible to confirm, as well see later on. Every year the gold in Fort Knox is audited by checking the official joint seals that were placed on all vault compartments during the continuing audits of U.S.-owned gold from 1974 until 1986, when allegedly 97 % of the (Deep Storage) gold was inspected. In another dubious mix-up, a number of measurements were faulty because the auditors misread where the decimal point was on the scale. The committee was made up of staff from the Treasury, the Mint, and the Federal Reserve Bank of New York. Liberty, Bush Written by Jan Nieuwenhuijs, originally published at Voima Gold Insight. In a series of posts well continue to examine all there is to find regarding the audits of US official gold reserves. It was nothing more than a peek-a-boo glance at the gold in fine Hollywood style. Equal Employment Opportunity. Are you already an expert in everything America? The gold at Fort Knox is stored in one of the most secure facilities in the world. 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. Murdaugh is heckled as he leaves court, Moment teenager crashes into back of lorry after 100mph police race, Ken Bruce finishes his 30-year tenure as host of BBC Radio 2, Family of a 10-month-old baby filmed vaping open up, Missing hiker buried under snow forces arm out to wave to helicopter, Insane moment river of rocks falls onto Malibu Canyon in CA, Fleet-footed cop chases an offender riding a scooter, Ukrainian soldier takes out five tanks with Javelin missiles. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. Moreover, it showed a number of (at best) inconsistencies in how the mint conducts its bullion inspection for auditing purposes. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. There was no assay report included in the audit report. Not that it would be easy to even make it this far, but the door to the vault is made of steel and . Former US Mint director Edmund Moy has stated in 2013 US reserves contain mainly coin bars because of the great confiscation in 1933 by President Roosevelt, when US citizens were forced to hand in all physical gold. 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. Coin The last time anyone had access to inspect the deposits was on September 23, 1974. . 15919 Avenida Venusto, Apt. It was obvious that some of the records were missing (or not provided). As will conclusions and speculation. Try Army A-Z. The Eisenhower Administration Conducted The Last Audit Of Fort Knox In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. While this sum is unreasonable, a crowdfunding campaign donated the total in less than 24 hours (strangely enough, the Mint never actually cashed Kooss check, and nearly all of the money was eventually refunded.). In short, the US National Archives could not extradite the 7 audit reports I requested. One wonders: was this a simple oversight or some kind of conscious obfuscation effort? The vaults were last opened to the public in the 1970s, and the last treasury secretary visit was in 1948. On September 24, 1974, a special settlement (audit) is scheduled to begin and at its conclusion a report on the audit will be issued. but American gold holdings were reportedly last audited in 1953 (which includes testing for purity); Fort Knox's gold was . 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. The official story from OIG is that 100 % of the gold stored at Fort Knox was audited in between 1974 and 1986, . The last time Fort Knox had opened its vault to civilians was more than 40 years earlier. The target this time is the United States Treasury Assay Office in New York . 4. The process would take about 30 minutes to verify the gold content of each bar, or 350,000 man hours; to do that . Government-owned Gold, or my office, and placed under official joint seals. But theories exist regarding other possiblecontents of the vault -like the body of Jimmy Hoffa. Newborns, Gifts 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? There was nothing left to do but submit a Freedom Of Information Act (FOIA) request. Part One, We use cookies to enhance the user experience and to analyse traffic. Need Help? Medals, Treasury and 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. However, how trustworthy is this system of accounting? Sevenreports are missing. There can be no world reserve currency without appropriate gold reserves supporting it, providing essential confidence and credibility. Company Registration No. The gold stored in these compartments would get moved around if samples were taken for assaying during the audit. 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 . Each gold bar is 7 inches x 3 and 5/8 inches x 1 and 3/4 . Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. Koos Jansen is a precious metal analyst from the Netherlands. Do you think it would be worthwhile, at least, to inventory and assay this portion of the Mint-held gold? *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. More anomalies with regard to the audits of the US official gold reserves will be discussed in forthcoming posts. After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. China Gold Import Jan-Sep 797t. Only one president has ever been inside -and the US Mint remains largely mum on the contents of the vault -making Fort Knox a hotbed for conspiracy theories. 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. I did read one time that the queen of England a. Exhibit 1. However, we were unable to locate records responsive to reports similarly titled or closely related to the subject annual gold audit 1975-1984. More from the 1985 report: The audit procedures followed [at the FRBNY] were essentially the same as those followed at Mint institutions except that assay samples were not taken to verify the purity of the gold and the audited gold was not under committee control after the audit. 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. Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, U.S. 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. Schultz from the New York Fed was part of the continuing audits committee and therefor the FRBNY was supposed to be audited. A second storage facility was built at the same time: . Donald Trump Doesn't Think So. On this sheet 5 physical gold audit reports are listed, framed in red. *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. Republican frontrunner Donald Trump hinted at the idea that there just might be no gold in the U.S. Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it's "a possibility" that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank. 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. Jansen found instances in which the Treasurys auditors failed to follow the governments own procedures for the auditing process. The depository was built following U.S. President, Franklin D. Roosevelt's, controversial 1933 legislation - Executive Order 6102 - which outlawed the private ownership of gold bullion. 26 Feb 2017 13:18. 211 votes, 25 comments. " He told an audience in Louisville, "I assume the gold is still there.". 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. . Bureau of Government Financial Operations [BGFO]. And the problem goes far beyond missing audit reports. The usage of cookies and the collection of customer information by BullionStar is guided by our. 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. We are a community that loves Silver, Period. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. . Senator from Kentucky, where Fort Knox is located. In 1953, the US Treasury Department audited Fort Knox, but only around 5% of the gold underwent testing for purity. However, the documents released are incomplete and reveal the audit procedures have not been executed proficiently. 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 opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product. Secretary of the Treasury Steven Mnuchin visited Fort Knox on August 21. Test yourself with this Cockney Rhyming Slang quiz. Contact Us. 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. From the 1985 report: For the best and most secure experience in our catalog, please update your browser. 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. It saves time and labor costs. 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. Several more examples of these blurry situations are shown in the released documents. I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself. A Fort Knox physical gold audit in 1953 was anything but full, neither was the famous audit in 1974. These could be better understood, or clarified, if we could obtain all audit reports from 1974 1986. Weve focused on the first audits of the gold stored by the US Mint. Two tetrahedron-shaped chips were removed form the top and bottom of each bar assayed. Learn how your comment data is processed. However, a Freedom Of Information Act request Ive submitted in order to obtain all audit reports could not be honored. The speculation has also been amplified by the degree of secrecy surrounding the reserves: Since the depository opened seven decades ago, the only time any member of the public has been permitted inside the facility was when members of the media were (however briefly) invited in on September 23, 1974. Alaska, USA . Gold verification at Fort Knox March 1998, page 2. The reports from 1974 and 1977 weve extensively analyzed in my previous post Second Thoughts On US Official Gold Reserves Audits, published on February 9, 2015. More false statements by the auditor have appeared, further eroding its credibility. Daily free rolls! The US government wished to open the vaults of audited gold to lease or sell the metal on the open market. 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. Is the Coin Market Sleeping on Fairmont Collection Gold Coins? These CDCs offer full-day care, part-day, and hourly care. Kate and Prince William 'are keen' for Prince George to have official role in King Charles' coronation - but Royally hard work! 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.

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