Why We Need to Audit the Gold
America’s gold holdings have never been independently audited.
Why not?
Nobody seems to know.
13.6% of the gold and silver was counted and weighed in 1953. But get this. The stockpile was counted by Treasury and Mint officials.1 An inside job. That’s like a company auditing itself instead of using outside auditors! It leaves plenty of room for all kinds of chicanery.
According to the US Treasury, America’s precious metals are held mostly at Fort Knox, Kentucky. “The remaining gold reserves are held in the Philadelphia Mint, the Denver Mint, the West Point Bullion Depository and the San Francisco Assay Office, also facilities of the United States Mint.”2
American taxpayers are told that the country’s bullion is safe and accounted for, but then we’re told this by politicians and bureaucrats who . . .
Stole American’s gold in 1933.
Won’t balance the budget.
Scheme to raise taxes.
Plot new wars.
Run a Ponzi scheme called Social Security.
“Temporarily” suspended the convertibility of the dollar in 1971.
Strangle our liberties by inventing new ways to expand the power and reach of government.
Audit The Gold is pressing members of Congress to require an independent accounting of America’s reserves.
And in a moment I’m going to tell you how we’re going to do this.
But first,
Americans want to know . . .
How much physical gold is stored by the U.S. Treasury and Federal Reserve and its other various facilities?
Who holds title to that bullion?
What, if any, encumbrances are upon the gold to which the U.S. Treasury and Federal Reserve holds the title?
How much gold does the U.S. government have clear title to?
These are basic questions that Americans want answered. You’d think that politicians would want these questions answered too. Unfortunately, most politicians are Profiles in Cowardice. They hate doing their jobs and often must be prodded, dragged, and pressed into doing the right thing.
Mind you, they’ll have to be dragged into auditing America’s reserves as well because the true facts might be scary.
CNBC’s John Carney recently wrote:
The gold of the United States government, which officials say is held in the United States Bullion Depository in Fort Knox, has been rumored—probably since the Depository’s founding in 1937—to have been looted and replaced with gold-painted tungsten, for instance.
Now this might just be rumor and scare mongering, but in 2010 the government changed the seals on the vault doors at Fort Knox.3 If there ever was an opportune time to loot and plunder, this was it.
So let’s quit speculating about the gold . . .
Instead let’s find out what the state of America’s precious metals reserves are.
You might remember that Ben Bernanke squirmed uncomfortably when former Representative Ron Paul introduced legislation to Audit the Fed.
Now his son, Senator Rand Paul, can do something for liberty, freedom, and sound money.
Audit The Gold asks Senator Rand Paul to sponsor legislation to conduct a thorough independent audit of America’s reserves.
An audit that will examine the chain of title, make sure the physical count is the same as what is on paper, and test a significant random sample to verify whether or not the gold is solid and real or gold plated tungsten or some other mixture of inferior metals.
Fort-Knox-Audit-1953-VERIFICATION-OF-GOLD-AND-SILVER-BULLION-AND-OTHER-TREASURY-ASSETS.pdf ↩
https://www.treasury.gov/about/education/Pages/fort-knox.aspx ↩
https://www.bullionstar.com/blogs/koos-jansen/former-us-mint-director-clueless-on-gold-in-fort-knox/ ↩