“Is gold there?”
As the questions about the old fort nox for decades again come into the limelight, US President Donald Trump is on a victim to the answer.
“We are really going to Fort Knoc to see what gold is, because maybe someone has stolen gold. Ton tons, “Trump said on Monday.
Their demand for an audit is widely resonating, with public figures such as his cost-katting Czar Elon Musk and Kentki’s Republican Senator Rand Paul joined Chorus in recent weeks.
“Who is confirming that gold was not stolen from Fort Knox?” Musk posted on X on 17 February. “Maybe it’s there, perhaps it’s not. That gold is owned by the American public! We want to know if it is still.
The allegation is not new. Nevertheless, Treasury Secretary Scott Besent’s presence of gold and assurances about the annual audit, due to doubt, continuously speculate about the treasury position in Fort Knoc.
Here you need to know about Fort Knoc and the latest debate about its gold deposits.
What is Fort Knoc?
The United States Bullion Depository, often called Fort Knoc, is an ultra-sciring vault in a world war-militiary installation in a world-wise IE-Militiary establishment in 56 kilometers south of Louisville, the largest city of Kentki.
In the name of Henry Knoc, the first secretary of the US War, the establishment of the Camp Knox became a permanent military base in 1918, rebuilt as Fort Knoc in the 1930s.
Depository was constructed in 1936 to store the government’s expansion gold reserve which supported the American currency.
In 1937, Fort Knox received its first gold shipment via US Mail, and organized 649.6 million ounces gold by 1941 – four times its current holdings.
But Fort Knoc was not just about gold. During World War II, it announced the declaration of protecting the founding documents of America, the rights of the constitution and other governments-and the bill of valuable goods, discovery as a copy of the Magna Carta, the Charter of the 13th-century Liberty of England.
How much gold is there today?
According to US Mint, the depository today is 147.3 million ounces of gold, or 5,000 tonnes. It is half of the American Treasury reserves, with other safe compels in other safe facilities across the country.
The weight of a standard gold strip placed in Fort Knoc is about 12.4 kg (27.5 pounds).
The book value of gold was determined through ounces in $ 42.22 in the 1970s. According to Mining.com, in today’s prices, it costs $ 428 billion.
What do you know about the safety of the vault?
The mythological security of Fort Knoc inspired the phrase “safe as Fort Knoc”. Manufactured with 16,000 cubic feet granite, 4,200 cubic yard concrete, 750 tonne strengthening steel and 670 tonnes of structural steel, depository building is a combat fort.
Inside, the two -storey vault has a 21 -inch thick, concrete reinforced steel walls. Walt Door-Blast-, Drill-UN Torch-proof-waghs over 20 tons and 14 bends are required to open them. No person knows the process of opening it, the Farm Mint Director Philip Diahal wrote in 2023 Coin Article.
Protected by large military force in the United States Mint Police and Fort Knoc, this feature is almost impermeable. According to Razor Wire and Minor Diehell, additional protection is added.
Has visitors allow to enter?
The US Mint Depository is called a “classified feature”, with a strict “no visitor, no exception” policy. Even former presidents have been stopped from going.
But in 1974, it created an exception, opening a group of journalists and a group of Congress members.
The historic journey, the camera was captured and later broadcast on television, in response to rumors that a large amount of gold had disappeared mysteriously.
Four decades later, former Treasury Secretary Steve Manuchin led a delegation of Kentaki politicians to see the volts in 2017.
“Sleeping happily is safe!” MNUCHIN tweeted after the journey.
Prior to the thesis rare trips, President Franklin D. According to the Roosevelt mint, the only outsider to enter the volts.
Now, the pressure is a mountain for a new public audit. Conservative Radio Host Glenn Beck recently wrote to Trump, asked to bring a camera crew to Fort Knoc, “to documents and verify the presence of America’s Gold Reserve.”
While some suspect that the presence of gold, some industry experts believe that opening the vault door to the public may end the dispute.
“A full, independent audit – potential also a vibrant verification – will remove doubts in American financial institutions and strengthen confidence,” wrote in a comment by Mining.com.