Ft. Knox Gold Gone? On Thursday’s radio show (Financial Survival, 4PM to 5PM East Coast time (dgscoins.com), I was reading from an article by Mr. Przemyslaw Radomski that explored the possibility that there’s no longer any gold in the U.S. depository at Ft. Knox:
• ”An audit of the US gold holdings has been demanded by some for years, but the government will not allow it. The gold belongs to the American people, so why won’t they let us see it? Many think it is because it is no longer there. If that is indeed the case, do we not face a ‘financial Armageddon’?
“At first it may sound shocking, but the last audit of gold stored in Fort Knox took place in 1953. No typo here, 1953, just after U.S. President Dwight Eisenhower took office. [However,] No outside experts were allowed [during that audit] and the audit team tested only about 5% of gold hoarded in the fort. So, there hasn’t been a comprehensive audit of Fort Knox in over 60 (!!!) years.”
• ”Congressman John R. Rarick demanded a Congressional investigation and, on September 23, 1974 six Congressmen, one Senator and the press were allowed to enter Fort Knox to see for themselves if the gold was there or not. The tour showed that there was gold in Fort Knox but, all the same, it sparked even more controversies.
“Only a fraction of the gold reserves were available to see. A photo of one Congressman published by Associated Press suggested that gold bars held in the fort may have been less heavy than would be usually expected. This resulted in even more doubt about the fineness of gold in Fort Knox. . . . [This is] important if you consider that counterfeit ‘gold bars’ have been showing up in New York recently and that fake gold bars turned up in LBMA Approved Vaults in Hong Kong.”
• ”In 2012, the German federal court ordered that the German central bank, Bundesbank, conduct an audit of German gold reserves stored abroad, particularly in the U.S., U.K. and in France. The German authorities have never before conducted a comprehensive audit of their foreign gold reserves and the last time they were [even] able to see their gold stored in the New York Federal Reserve vaults was supposedly in 1979/80. Because of that, 150 tons of gold will be shipped from the U.S. to Germany to assess the fineness of the bars.”
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