Is there gold left in Fort Knox?

President Donald Trump and Elon Musk are planning a trip to the US bullion depository in Fort Knox, Kentucky. They want to see if the American people still have their money. It is about 4,583 metres of gold, worth around $291 billion.

“We'll actually go to Fort Knox and see if the money is there, because someone stole the money, Trump said Monday.

Musk announced the issue during an interview with CPAC over the weekend. He sat sporting massive sunglasses, his trademark “goth” magazine hat, and what looked like a necklace-like gold chain.

“We all want to see that. By the way, this is your money. It's the money of the masses,” Musk said. The interviewer asked him if he believed the money wasn't there. “I don't know,” Musk replied. “We want to go see it, please don't let someone paint lead or anything,” he suggested a live tour so people could see it from home.

When I voted for Trump in November, checking the world's largest gold reserves wasn't the pinnacle of most Americans' minds. However, it turns out that it is not a new issue and there is considerable support for the audit. It's a true audit.

Audit Fort Knox

The Treasury Department of Scott Bescent recently told Bloomberg that unlike the president, he has no plans to visit Fort Knox. He added that there is nothing to worry about.

We can say that we do audits every year. I can now tell Americans on camera that there is a report on September 30, 2024. All the money is there. Any US Senator who wants to come and visit can arrange a visit through our office.

It sounds like Bescent needs to talk to Senator Mike Lee (R-Utah). Lee said on February 17 that he entered Fort Knox and attempted “repeat” to see the gold. But he is turned away every time. He said the first excuse he received was that it was not allowed because it was a military base. He pointed out that he frequently visits military bases. The final response he received was a simple “no.” “It's strange,” he concluded.

Senator Rand Paul (R-KY.) is also taking part in a trip to Fort Knox. Paul, chairman of the Senate Committee on Homeland Security and Government Affairs on February 19, cited the need for transparency and oversight, urging a full inspection, including a gold test.

We are about to audit Gold Run fortress in the Paul Family. Senator Paul's father, former president Ron Paul (R-Texas), tried to begin an audit in 1981.

“How much money do you have, especially if you want to go back to gold? Do you still have it?” asked Ron Paul on a recent podcast.

Ron Paul is concerned Trump may realize that not everything is “Hunky Dory.” He suggested that this might be the reason for the pushback. He said the 1981 audit failed after 15 of the 17 members of the Kim Committee voted against it.

Decades of doubt

People's doubts about money have been around for decades. Some people, like Trump, think that there's money. Maybe it was stolen. Others suspect that they don't have as much money as the US government says. Perhaps the US is selling slowly in untracked international transactions. Even what is there is doubt that it is no longer the property of the American people. The Gold Antitrust Action Committee (GATA) investigates the nature and scope of gold reported through product exchanges with global central banks. They believe that the amount of gold reported to be present in the market is exaggerated to keep prices low. Gata co-founder Chris Powell told the History Channel that there is also a very good chance someone else owns American gold.

The government needs to control gold to maintain the value of the currency and maintain the value of the bond. And to do this, the US government is now relying on digging up the gold market. We believe that the main purpose of these gold swaps is to secret intervention in the gold market. For example, the US may decide that 50 tonnes of gold is needed to be sold in the London market to manage gold prices in February, but it may decide that it does not want to become the central bank that identified this. So the US calls the German central bank and says, “Listen, I want you to sell 50 tons of gold in London. Would you please do that, and I'll give you a rounded title of 50 tons of gold at the depository institution at Fort Knox.

Rumors about the money were ramped in 1974 when 12 lawmakers and 100 journalists were allowed to Fort Knox. Illinois representative Philip Crane played a major role in starting the tour. But we can see that the audit did not do that.

Ron Paul calls the 1974 audit “fake.” This is a sentiment shared by many skeptics. The reasons include the fact that the audit is not entirely independent. It was conducted by US Treasury employees along with auditors at the general accounting firm. The Ministry of Finance had a vested interest in the outcome. Another issue with the 1974 audit was that only 21% of the gold was physically validated and tours were restricted.

Regarding the annual audit becent mentioned, skeptics don't give them much weight. They believe they are unreliable because they are internal. Furthermore, skeptics believe that audits are merely bookkeeping measures, as opposed to physical verification.

History of Fort Knox

In 1933, President Franklin Delano Roosevelt banned ownership of private gold. The official reason was to surge the economy during the Great Repression. The government reasoned that the only way out of depression was to control money. The government has told Americans to submit all gold and paper certificates. Compliance was provided in prisons with heavy fines and up to 10 years. US gold reserves increased almost immediately to 5,000 tonnes. The gold melted into 368,000 bars, weighing 27.5 pounds each.

A year later, FDR raised the new fixed price of gold to $35 a ounce. The government then used profits to develop new deals.

FDR built Fort Knox to store all of its wealth. He wanted it to be away from the coast. They were more vulnerable to attacks there. Additionally, it was located near a military base in Fort Knox and automatically provided security.

Today, American gold reserves are held at West Point, West Point, Denver, in New York, Fort Knox, four Kentucky, and four largest four US mint depository institutions.

The government uses Fort Knox to store not only gold, but some of the nation's most important documents, including the Declaration of Independence, the United States Constitution, and Abraham Lincoln's Gettysburg speech.