After World War II, the United States government and citizens owned as much as 80% of the gold in the world. More than half of the gold was stored at Fort Knox. Many in high places have suggested there is precious little gold in those vaults today.
No one has been allowed to audit Fort Knox
since the Eisenhower Administration (1955).
HOW MUCH GOLD IS LEFT IN FORT KNOX? It would be a good idea for Congress to find out if the U.S. really owns as much gold as is reported. Congress should audit Fort Knox (60% of total reported gold), Denver (18%), and West Point (22%). Many times since 2008, the United States Mint has been seriously backlogged with orders for American Silver Eagle coins and American Gold Eagle coins. This would lead one to suspect the U. S. substantially overstates the amount of gold and silver it owns.
ARE AMERICA’S GOLD RESERVES IN PRIVATE HANDS? The U.S. is listed as the largest holder of gold in the world. In 2005, the U. S. Treasury claimed to have 261.5 million oz. of gold. According to published figures, America owns 10,792.6 tons of gold.
President Reagan’s “Gold Commission” would have disagreed with those statistics. In 1981, the President pursued an investigation of a return to a gold standard. He appointed the “Gold Commission” to examine the books of the U.S. Treasury. The commission came to the conclusion the U.S. Treasury owns almost no gold at all [only a small amount of gold at the U.S. Mint]. The Federal Reserve holds whatever gold is remaining at Fort Knox (etc.) as collateral against the debt America owes to the privately held central bank.
CONGRESS SHOULD FIND OUT. What is the truth? Are U.S. gold reserves in the private hands of central banks such as the Federal Reserve? Mining sources report 8,000 tons of gold have left the country since 2007.
Congress must audit Fort Knox and the Federal Reserve.
by Denise Rhyne