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Who owns fort knox gold - grc

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The mine was originally permitted in , and operates hours a day, days a year. As of the end of , FGMI employed people. Fort Knox produced , gold equivalent ounces in The ore from this mine will be trucked to Fort Knox for processing.

First, Jansen points out that since , the vaults have literally been sealed shut. The seals were wax with a ribbon running through them connected to a document declaring the vaults sealed. In , however, the seals were broken and new, more durable plastic seals replaced the old wax ones. More recently the Mint decided to replace all of the previously placed Official Joint Seals with new seals. The new seals are more durable, having a double security barrier seal that can only be removed by two cuts with a strong cable cutter.

The Mint replaced all of the previously placed Official Joint Seals with new ones during fiscal year The seal replacement process consisted of two steps: 1 inspection of all previously placed Official Joint Seals on all the compartments containing deep storage gold to determine whether they had been altered or compromised in any way, and 2 placement of a new Official Joint Seal. For each Official Joint Seal removed, the Mint headquarters representative, the Mint storage facility representative, and the observing Treasury OIG auditor signed an inspection report; the same parties also signed the new Official Joint Seal that replaced the one removed.

Mint, Edmund Moy, saw the gold ingots stored at Fort Knox, as he claimed during a speech at a coin and collectible expo in Baltimore in At the convention in , Moy told attendees the following story about how the gold got to Fort Knox to begin with:.

A lot of those coins were 22 karat gold which then have impurities. In gold coins in the US accounted for 2, tonnes, of which 1, tonnes were already held at banks and the government. The difference, tonnes, could not have made US gold reserves increase 13, tonnes from 6, tonnes in to 19, tonnes in The dramatic rise in US gold reserves was caused by imports.

Finally, what about the annual audit that detractors of the missing gold theory — including Moy himself — insist proves the gold is in Fort Knox and that none of it is missing?

Jansen blows the cover off that claim, too:. After the gold was audited by the Continuing Audit committee all compartments were placed under Official Joint Seal. No gold is counted, no gold is even inspected. Some groups believe that as part of its effort to manipulate the economy, the Federal Reserve has sold the gold. Gold is a major determinant of interest rates.

An audit would answer this crucial question. Joe Wolverton II, J. Well, the sole official owner of all The USDT is the national treasury for the federal government of the United States overseeing the agencies responsible for printing paper currency and coins, such as the U.

The U. Department of the Treasury is essentially the executive department that deals with all things of monetary value in the United States. The other significant organization in this regard is the Federal Reserve which serves as the central bank of the United States. One of the many lesser-known facts about Fort Knox is that it has held more treasures than just gold over its lifetime.

Currently, in addition to the tons of gold sitting in the underground vault, Fort Knox also holds ten Double Eagle Gold Coins, a D aluminum penny, and twenty gold karat Sacagawea dollar coins that flew on the Space Shuttle. Throughout history, the vault has stored many other valuable items as well. World War II, in particular, marked a period of great uncertainty that drove many treasures into hiding underground.

As cities were bombed and the German advance seemed inevitable, the Librarian of Congress at the time, Archibald MacLeish, pushed for valuable documents to be secured in bomb-proof vaults in the United States. Fort Knox was offered as the solution and a few cubic meters of space were made to hide essential items. As the threat of war eventually passed these documents were later removed and returned to the Library of Congress.

Still, after the war, other artifacts made their way into the vault for protection. At one point the depository held the Crown of St Stephen along with other Hungarian precious artifacts. Years later the artifacts were eventually returned to Hungary. Although not at Fort Knox, one interesting item stored in the vaults of the U. Treasury was opium and morphine. Current reports show that neither the opium nor morphine are still being stored there though.

Visitors outside the Treasury Department are typically not allowed on the grounds of the U. Bullion Depository. This rule is taken so seriously that guest visits can be counted on one hand.

President Franklin Roosevelt visited the site in , members of the US Congress and the media visited in to assuage rumors all the gold had been sold off, and the third major tour was by current Treasury Secretary Steve Mnuchin accompanied by other senators and congressmen.

The last Treasury Secretary to visit the grounds was in Consider that last fact for a moment. Fort Knox is so secure that the Treasury Secretary, who runs the executive department that owns the gold in the vault, rarely even visits the facility. Bullion Depository is typically strictly accessed by essential personnel only.

This policy alone makes it one of the more secure government buildings in the world. Imagine though that you wanted to break in and take a bar of gold. What would that entail? Well, first you would have to access the grounds. You might get as far as the visitor center before someone enquires who you are and why you are there. Each corner of the building has a guard tower too. Just to access the building you would have to breach fences, razor wire, and minefields all under constant surveillance with high-resolution night vision and microphones.

If you got that far you would then have to get into the building itself. This main building above ground is made of tons of solid granite and concrete reinforced with steel. The structure could withstand multiple bomb blasts and still hold strong. Next, you would have to make your way through security forces to the underground vault. The vault is made of steel plates, steel I-beams, and steel cylinders all encased in concrete.


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