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I hear lots about gold kept at Fort Knox. But are there any documents saying how much is there ?Are such documents available regularly to the general public and where can they be seen ?

2007-11-11 08:05:22 · 2 answers · asked by democracynow 2 in Business & Finance Other - Business & Finance

Yes, it matters. It's the gold of the USA people, right ? Have they no right to know whether there IS any gold at Fort Knox ? Government BY the people FOR the people, right ? That means, why can't anyone give us a clear answer ?

2007-11-11 22:09:46 · update #1

If it doesn't matter why is the information classified ?

2007-11-11 22:11:03 · update #2

2 answers

1. There's no proof any gold is in Fort Knox, it has NEVER been audited for decades. And even if it's there, it's not owned by our government or our people.

2. The reality is only the banks own and know about it, wake up, you'll NEVER see it.

2007-11-12 07:36:19 · answer #1 · answered by Smartass 4 · 0 3

The quantity of gold at Fort Knox is classified.
I'm sure that someone will take offense to this, but: Considering that the US is not on the gold standard (in fact, no currency is on the gold standard any more), does it really matter whether or not there is a gold reserve at Fort Knox?

I personally think there is still a substantial gold reserve there. Some years ago, I was on base there when they had a 'depository under attack' drill. Whoa. Pretty impressive.

Adder later:
Found this on Wikipedia. No idea how true it is:
Gold and coin holdings

Gold holdings peaked during World War II at 649.6 million troy ounces (20,205 metric tons). Current holdings are around 147.3 million ounces[1]

[edit] Conspiracy theory

A popular and recurring conspiracy theory, as alleged by Edward Durrell, Norman Dodd, Tom Valentine, Peter Beter and others, claims that the vault is mostly empty and that most of the gold in Fort Knox was removed to London in the late 1960s by President Lyndon Johnson.[2] In response, on September 23, 1974, Senator Walter Huddleston of Kentucky, twelve congressmen, and about 100 members of the news media toured the vault and opened various cells and doors, each filled with gold. Radio reporter Bill Evans, when asked if it seemed like the gold might have been moved in just for the visit, replied that "all I can say is that I saw gold there" and that it seemed like it was always there.[3] Additionally, audits of the gold by the General Accounting Office (in cooperation with the United States Mint and the United States Customs Service in 1974 and the Treasury Department) from 1975-1981 found no discrepancies between the reported and actual amounts of gold at the Depository.[4] However, the audit has been described as a peculiar process because it was only a partial audit done over an extended period of time.[5] The report states only 21 percent of the gold bars were audited as of 1981 (the audit report's issue date) and that the audit has "covered more than 212.7 million fine troy ounces of gold" which "represents over 80 percent of the total amount of United States-owned gold of 264.1 million fine troy ounces."[4] A small amount of gold is removed for regularly scheduled audits to ensure the purity matches official records.[1] The theory continues to persist, however. In 2007, KPMG will carry out an independent audit[citation needed].

2007-11-11 18:39:46 · answer #2 · answered by F. Frederick Skitty 7 · 1 1

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