Exhibit 7.1. Despite continued inquiries, the US Mint refuses to offer up proof of the exact amount of gold held at Fort Knox. That shipment required a convoy of 33 15-ton trailers to move the gold. Between 1933 and 1937, this increased . Shipping within the United States How can the IG be positive if he did not have access to the most basic documentation? Prince Andrew chuckles as he encounters female jogger on way to his weekly Windsor horse-riding trip. : 201217896Z It was nothing more than a peek-a-boo glance at the gold in fine Hollywood style. Liberty, Bush I can say that without any hesitation, because I have observed the gold and the security of the gold reserves myself. There has not been any movement of inventoried gold since that time. Buffalo Coins, American Eagle 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. On top of this, a decades worth (1993-2003) of Joint Seal inspections from the Denver and West Point depositories are not accounted for. It was also the first visit by a serving US Treasury Secretary since 1948. 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. Coins, Precious for Dads, American Women's History Coins & Fort Knox was thrown open on that Monday afternoon for about 2 hours to some 150 reporters and glad-handing politicians, crowding narrow passageways and elbowing each other for a . An excuse was needed to break the seals. The event, Sept. 23, 1974, is often inaccurately called the last audit of Fort Knox. All your favorite.50 games all in one club! 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. From the 1985 report: In fiscal year 1985 audits of Government-owned gold were conducted at the United States Mint in Denver and the United States Bullion Depository in Fort Knox, Kentucky. 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. Fort Knox is used to store a large portion of United States official gold reserves and occasionally other precious . I will, however, submit a couple of new FOIAs at the US government regarding gold audits. Inside the lonely life of 'pavement killer': Neighbours reveal how 'childlike' disabled woman jailed for Tragedies of Everest: The adventurers forever frozen in ice after losing their lives scaling the world's 'Why the last-minute delay?' You can change the usage of cookies in your browser. The reports were not present at the National Archives, the OIG or at the Treasury Department. (in millions of ounces), SIGN UP FOR EMAIL UPDATES AND TEXT MESSAGE ALERTS ABOUT PRODUCTS. All the benefits of simply switching from white to brown - AND how purple, Will El Salvador's new mega-prison turn into a bloodbath? The Fort Knox Gold was last audited in the 1950s. I am glad to report that everything at the depository looked to be secure and in order. As required under the Cyanide Code, the mine was again audited against ICMI's Verification Protocol by independent professional third-party auditors within three . Buy for Vault Storage in New Zealand Theoretically, if the seal hasnt been tampered with, this is as good as verifying the metals themselves. His advice to me was to try at the General Accounting Office (GAO) and National Archives for more reports. 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. President Reagan last spring demanding that this be looked into immediately. 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. 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. initial 1974 Fort Knox audit which was conducted by GAO and Treasury auditors. . 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. Lets have a look. ', 'I assume the gold is still there,' he said. 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 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. 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. FORT KNOX MINE ICMC SUMMARY AUDIT REPORT . More false statements by the auditor have appeared, further eroding its credibility. 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. The other two-thirds, however, have not been inventoriedthat is according to my understandingor assayed since somewhere between 1975 and 1986. Domestic and International Shipping from Singapore Kids, Gifts for The last time any gold was removed from deep storage at Fort Knox came in 1971, when $500 million worth of gold was delivered to the New York Assay Office. 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. . It was obvious that some of the records were missing (or not provided). Click on the links for more information:Buy for Vault Storage in Singapore 211 votes, 25 comments. 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. Government-owned Gold" for the years 1975, 1976, 1978, 1979, and 1981-1984. Next was the GAO; unfortunately they couldnt deliver anything I was looking for. Circulating 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. 'It's not even the annual funding level for some of our large departments in the federal government,' he said. *In 1977, presumably, one bar in every fiftieth melt (one melt is approximately 20 bars) was assayed, irregularities were found in two melts, the vault had to be opened twice more in the presence of the Joint Sealing Committee and the gold reevaluated. Not only were Kooss requests met with a reluctant response from government officials, but the mint claimed it would have to spend countless labor hours searching through dozens of boxes for hundreds of pages that might be what Koos was looking for: the annual gold audit records that were carried out between 1993 and 2008. (Back to top) CIVILIAN TIME MILITARY TIME CIVILIAN TIME MILITARY TIME 12:01 AM 0001 5:00 PM 1700 (Seventeen hundred) 5:00 AM 0500 10:00 PM 2200 10:00 AM 1000 (Ten hundred) 11:30 PM 2330 12:00 PM (Noon) 1200 12:00 AM . Facilities, Production BY . 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. As weve seen thus far there are many problems with the official story everything is fine, all the US official gold reserves all audited. 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. Because this is the department currently responsible for the audits I was surprised my request to obtain all audit reports wasnt honored. Ive found many anomalies that well discuss. Shortly after I got an email that statedmy request had been received and was being processed. The missing audit reports and assay reports feed into our skepticism. As will conclusions and speculation. Try Army A-Z . 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. Compared to the samples taken in the 1950s and 60s, the standards for the integrity of the sample size had fallen sharply. For the other years we dont know whatoffice performed the checks. 15919 Avenida Venusto, Apt. U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. 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. Honor, Rolls, Not that it would be easy to even make it this far, but the door to the vault is made of steel and . Fort Knox, major U.S. military reservation in Meade, Hardin, and Bullitt counties, northern Kentucky, U.S. I'm a vet, and here are five dog breeds most prone to cancer - including Golden Retrievers and Rottweilers. After the gold was audited by the Continuing Audit committee all compartments were placed under Official Joint Seal. China Net Imported 1,300t Of Gold In 2016, Why SGE Withdrawals Equal Chinese Gold Demand And Why Not, Trade in and out of physical gold and silver, BullionStar Perspectives - Rick Rule - Wisdom and Insights from Legendary Mining Investor, Buy for Vault Storage in the United States, Domestic and International Shipping from Singapore, and 1980 summary, released by the GAO 10/1981, the vault had to be opened twice more in the presence of the Joint Sealing Committee and the gold reevaluated, assaying 899 to 901 per mille or 915 1/2 to 917 per mille, Where Did The Gold In Fort Knox Come From? In addition, the committee will include technicians from the Bureau of the Mint who are trained in assaying and weighing gold bullion. The New Year kicked off . 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. Between 10 and 1974 about 1986% of the gold was weighed in, a big drop from 2. 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. Fort Knox is supposedly filled with 400 oz. Shipping within New Zealand. Several more examples of these blurry situations are shown in the released documents. No outside experts were allowed on the site for the audit, either, providing fodder for all kinds of conspiracy theorists. In short, this all sounds like the audit process has a number of cracks through which accounting mistakes can easily slip through. A waiting list may be . At Fort Knox, we are about people - great service members, outstanding civilians . there has not been anyone allowed access to confirm the gold amounts that are supposedly stored at the Fort. 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. Are you already an expert in everything America? Coin 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.). Sets, Commemorative Our staff conducted a search using the National Archives Holdings Management System under the following records group numbers: RG 50 Treasurer of the United States, RG 56 General Records of the Department of the Treasury, RG 82 Federal Reserve System, RG 101 Office of the Comptroller of the Currency, RG 104 U.S. Mint, and RG 425 Financial Management Service. Fort Knox gold subject of hearing. Protected by a 109,000-acre U.S. Army post in Kentucky sits one of the Federal Reserve's most secure assets and its only gold depository: the 73-year-old Fort Knox vault. We asked the experts - and their answers will terrify you Public Service Announcement, do NOT watch these ads! 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 process would take about 30 minutes to verify the gold content of each bar, or 350,000 man hours; to do that . In the 1980 report we can read the audit procedures and a few other snippets (well quickly jump through) that help us understand how and where the audits were conducted: Audit procedures included (1) inspecting the joint audit committee seals used to control compartments containing previously audited gold; (2) comparing the records for each compartment inventoried to the identifying information on the gold bars; (3) weighing, from each compartment inventoried, at least one randomly selected melt in each fifty melts (a melt, averages about 20 bars cast from one crucible of molten gold); (4) removing samples from a bar in each of the melts weighed and having the samples assayed; (5) verifying the mathematical accuracy of all inventory records; (6) verifying the inventoried gold to the institutions records; (7) verifying the quantities shown by the institutions records to the control accounts for gold maintained by the Bureau of the Mint and to the central accounts maintained by BGFO; (8) placing audited gold bars in compartments under Official Joint Seal and audit committee control; and (9) reviewing and evaluating internal controls and security procedures. 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. This is what it said: This is in response to your March 2, 2015 Freedom of Information Act (FOIA) request for records in the custody of the National Archives and Records Administration (NARA).
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