What is going on with gold?

truthistruth · 2/19/2025, 12:18:11 AM · permalink

Why are the photo black &amp; white?

💢Back in 2017, Steve Mnuchin, who was the U.S. Treasury Secretary at the time, along with Senate Majority Leader Mitch McConnell, visited the Fort Knox Gold Bullion
![image](https://us-lax-1.linodeobjects.com/sojooo/comments/92/1739924291033-d105da12b85562da.jpg)
 Depository in Kentucky on August 21. This visit was notable because it was the first time a Treasury Secretary had inspected the gold reserves there in 69 years, and it was one of the rare occasions when the vaults were opened for civilian inspection since a visit in 1974.

💢During this visit, Mnuchin was accompanied by McConnell, Kentucky Governor Matt Bevin, and U.S. Representative Brett Guthrie. The purpose was officially to review the nation's gold reserves, which are housed in the depository. The visit was described as an opportunity for Mnuchin to attest that the gold is part of the U.S. national assets, with Mnuchin humorously noting he assumed the gold was still there, likening it to a scenario from a movie if it wasn't.

💢McConnell held a 27-pound gold bar during the visit, which was part of an event where they viewed but did not audit the gold. The gold reserves at Fort Knox were reported to be over 147 million troy ounces at that time. This visit also coincided with the solar eclipse on that day, leading to some controversy about the timing, although it was stated that the eclipse was not the primary reason for the visit but rather an added benefit.

💢The visit garnered media attention partly due to photographs of Mnuchin and McConnell posing with the gold, which were later released through Freedom of Information Act requests. There was also scrutiny over the use of government resources for this trip, especially since Mnuchin's then-wife, Louise Linton, joined him, leading to discussions about the appropriateness of such trips and expenses.

💢The visit, while meant to reassure the public of the security and presence of the nation's gold reserves, also sparked conversations about transparency and the need for official audits of the gold stored at Fort Knox. However, no full-scale audit was indicated to have been conducted during this visit; it was more of an inspection.

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logical · 2/19/2025, 3:57:29 AM · permalink

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truthistruth · 2/19/2025, 2:11:59 PM · permalink

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surfagogo · 2/20/2025, 3:35:38 AM · permalink

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logical · 2/20/2025, 3:47:17 AM · permalink

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truthistruth · 2/19/2025, 12:20:22 AM · permalink

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cryptoprepper · 2/19/2025, 2:53:55 AM · permalink

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truthistruth · 2/19/2025, 12:16:59 AM · permalink

💰Fort Knox, located in Kentucky, USA, is home to the United States Bullion Depository, which is one of the largest gold storage facilities in the world. Here are some key points about the Fort Knox gold reserves:

🪙Purpose: The primary purpose of the depository is to store gold reserves for the United States. It serves as a secure storage facility for the nation's gold.

🪙Security: Fort Knox is known for its extremely high level of security. It includes multiple layers of physical security like fences, surveillance, and armed guards, along with strict access controls. The gold stored there is considered to be among the safest in the world.

🪙Gold Holdings: As of the last public disclosure, which was in 2020, the U.S. gold reserves held at Fort Knox were approximately 147.3 million ounces of gold. This represents a significant portion of the U.S. government's gold reserves, although the exact current amount could be different due to transactions or audits not publicly disclosed.

🪙Audit and Transparency: The U.S. government periodically conducts audits of the gold reserves, but comprehensive, detailed public audits have been rare since the 1950s. There's some controversy and speculation about the exact amount of gold stored there due to limited transparency, but official statements confirm regular checks.

🪙Historical Context: Fort Knox began storing gold in 1937 following the Gold Reserve Act of 1934, which allowed the U.S. government to nationalize gold and establish this depository. During WWII, other nations also stored their gold there for safekeeping.

🪙Access: Access to the gold inside Fort Knox is extremely restricted. Even high-ranking officials, including the President, do not have automatic access without specific authorization.

🪙Public Perception: Fort Knox has become synonymous with impregnable security, often referenced in popular culture to denote something that is extremely well-protected or impossible to breach.
![image](https://us-lax-1.linodeobjects.com/sojooo/comments/92/1739924218954-09692a1a5b0dad78.jpg)

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heaveho · 2/19/2025, 12:53:45 AM · permalink

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