Myths and Misconceptions: Is There Gold In Fort Knox?
Is there gold in Fort Knox?
It’s a question that has been increasingly asked as the state of U.S. finances deteriorates. While American currency is fiat currency, or backed by nothing, the U.S. government claims that it has possession of nearly nine thousand tons of gold, making its cache of the yellow metal - the largest gold stockpile in the world. The veracity of the U.S. claim is critical as such a large gold reserve represents an important national asset valued at a half-trillion dollars.
The U.S. says it stores most of its gold at Fort Knox, Kentucky - the remainder of which is
held at the Philadelphia Mint, the Denver Mint, the West Point Bullion Depository and the San Francisco Assay Office. Those who are doubtful of what exactly is in Fort Knox are frustrated with the U.S. Treasury which has steadfastly refused to conduct a new audit of U.S. gold holdings since its last accounting nearly 40 years ago.
Not since 1974 has a member of the public been allowed access to Fort Knox. In that year, a group of reporters were shown one vault filled floor to ceiling with gold bars. The reporters were not allowed access to any other vaults within Fort Knox and no audit of gold at the facility has since been conducted by the U.S. Treasury.
David L. Ganz (pictured at left), a veteran numismatic journalist, author and attorney was part of the group reporters who toured Fort Knox in 1974 and was shown the single gold filled vault, but not all of the vaults within. He confims he did see gold bars, but not the entire stash of U.S. gold at the depository.
Listen to a recent interview of Mr. Ganz conducted by CAMI’s Jim Kingsland. Click the link below to hear what Mr. Ganz saw for himself nearly 40 years ago at Fort Knox. Decide for yourself after hearing this compelling interview of an eyewitness to history:
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Author Jim Kingsland
Market commentator with focus on Gold and Silver after long broadcast career at FNN, Bloomberg, and Fox. #RandomHouse published author on PMs. Jim has also been involved in projects for CAC and Coinplex.
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