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It is said to be the most impregnable vault on Earth: built out of granite, sealed behind a 22-tonne door, located on a US military base and watched over day and night by army units with tanks, heavy artillery and Apache helicopter gunships at their disposal.
Since its construction in 1937 the treasures locked inside Fort Knox have included the US Declaration of Independence, the Gettysburg Address, three volumes of the Gutenberg Bible and Magna Carta.
For several prominent investors and at least one senior US congressman it is not the security of the facility in Kentucky that is a cause of concern: it is the matter of how much gold remains stored there - and who owns it.
They are worried that no independent auditors appear to have had access to the reported $137 billion (£96 billion) stockpile of brick-shaped gold bars in Fort Knox since the era of President Eisenhower. After the risky trading activities at supposedly safe institutions such as AIG they want to be reassured that the gold reserves are still the exclusive property of the US and have not been used to fund risky transactions.
In other words, they want to be certain that the bullion has not been rendered as valueless as if a real-life Goldfinger had stolen it.
“It has been several decades since the gold in Fort Knox was independently audited or properly accounted for,” said Ron Paul, the Texas Congressman and former Republican presidential candidate, in an e-mail interview with The Times. “The American people deserve to know the truth.”
Mr Paul has so far attracted 319 co-sponsors for a Bill to conduct an independent audit of the Federal Reserve System - including its claims to Fort Knox gold - but an organisation named the Gold Anti-Trust Action Committee (GATA) is taking a different approach.
<snip>
A spokesman for the US Treasury told The Times that US gold holdings are audited every year by the Department of Treasury's Office of Inspector General. He confirmed that although independent auditors oversee the process they are not given access to the Fort Knox vault.
Is There Any Gold in Ft. Knox?
There is about $140b worth of gold in Ft. Knox at $900/oz.
United States Bullion Depository - Wikipedia, the free encyclopedia
There is about $140b worth of gold in Ft. Knox at $900/oz.
United States Bullion Depository - Wikipedia, the free encyclopedia
There is about $140b worth of gold in Ft. Knox at $900/oz.
United States Bullion Depository - Wikipedia, the free encyclopedia
I think the question there is weather the government is being honest about that.
Honestly, I wouldn't be surprised if it was all gone.
Yep, it's probably there. I guess I believe what the government says. There's a big difference in distrust of the government and distrust of the politicians in Washington. I think the career government employees are for most part pretty honest. When they lie, cheat, and steal they get fired and go jail. The politicians just get re-elected. It's the career government employees that really run the government. Without them the politicians would be lost.There is about $140b worth of gold in Ft. Knox at $900/oz.
United States Bullion Depository - Wikipedia, the free encyclopedia
I think the question there is weather the government is being honest about that.
Honestly, I wouldn't be surprised if it was all gone.
Government honesty.........
Politicians promises.....
Sumbitch is most likely as empty as a whore's heart.
I don't think the US stores gold at Ft. Dix. There is federal correctional institution thereWell if all the gold is in Ft Knox, what in the hell do they keep at Ft. Dix ?
Why don't we just sell some gold? We have a larger supply of gold than any country. It's sure not going us any good.
According to the treasury there is 146 million oz. At $1,000 an once that would be 146 billion, a fair piece of change. The president can issue an executive order to sell gold, however the proceeds can only be used to pay down the national debt. I guess 146 billion wouldn't go very are and it would of course drive down the market price of gold.Why don't we just sell some gold? We have a larger supply of gold than any country. It's sure not going us any good.
Yeah...that's a good idea! I see those ads on TV all the time for the Gold Exchange. They claim to pay top dollar for gold
Just what we need, another conspiracy theory.I'm sure we had to give it over to the Chinese as collateral for the interest payments alone to cover our debt.I'm sure we have an arrangement with them to receive a call from our President from time to time
so they can hold up the smart phone so the President can take a long look at it before he goes off for a nice deep sleep.
