February 17, 2025

Rand Paul suggests auditing Fort Knox gold reserves

In response to a social media post by Zerohedge, Senator Rand Paul has proposed an audit of the gold reserves at Fort Knox. The online discussion, which also involved Elon Musk, head of the Department of Government Efficiency (D.O.G.E.), highlighted the lack of a yearly audit for the gold stored at the facility.

Zerohedge's initial post suggested that Musk should inspect Fort Knox to confirm the presence of the United States' gold, which has not been publicly verified since 1974. Musk replied, under the assumption that the gold reserves were regularly audited, but Senator Paul corrected him, indicating that no such audits have taken place and offering to assist with the process.

The U.S. Mint claims that Fort Knox holds approximately half of the nation's gold. However, public access to the vault has been restricted for decades, with the last known inspection occurring in 1974 by a congressional commission amidst rumors that the gold had been removed. Since then, the only recorded visit was in 2017, when Treasury Secretary Steve Mnuchin, Kentucky Governor Matt Bevin, and other congressional representatives were permitted entry.

While it remains uncertain if Senator Paul's proposal will lead to an actual audit, the Department of Government Efficiency, known for its role in auditing government agencies, could potentially undertake this task.

The last comprehensive check of the gold reserves at Fort Knox, which are said to be worth around $425 billion, was conducted over 45 years ago, raising questions about the current status of the gold.

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