OAN Staff Brook Mallory
6:48pm – Monday, February 17th, 2025
Head Elon Musk of Government Efficiency (DOGE) is being asked by GOP politicians to shift attention to one of the safest places on the planet, US bullion depository, also known as Fort Knox .
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In response to tech mogul's ideas about cash, GOP Kentucky Sen. Randpole called for a survey of the huge gold holdings of the Vault, which is valued at an estimated $425 billion based on current market rates.
Online users asked Musk to “see inside Fort Knox to see that 4,580 tons of US gold is there,” urging Musk to respond to the request.
“It's certainly reviewed at least every year.” Musk responded to X user ZeroHedge.
“No. Paul (r-ky.) replied chiming, referring to the Army facilities in Kentucky.
Former Representative Ron Paul (R-Texas), the father of the Kentucky Senator, previously sought more openness in terms of the country's reserves.
The safe has been completely off limits for decades, so it is unknown when the facility was last thoroughly audited.
In response to previous burglar claims, Congressional delegations and media members were first granted access to the complex in 1974. more.
Meanwhile, many theories related to the US government, which secretly auctions gold off the mark rather than keep it inside Fort Knox, have plagued the site since at least the 1970s. Recent news about Musk's interest in Fort Knox audits has prompted social media users to post humorous videos and other claims that reference these theories.
Additionally, Paul's attempts to access in 2010 included laws aimed at paving the way for Fort Knox to be audited. Elder Paul had expressed similar words to what his son is currently continuing.
“My attitude is, let's find what's out there,” Paul said at the time.
Nevertheless, when former Treasury Secretary Munucin visited with Rep. Mitch McConnell (R-KY) in 2017, they both told the media.
Since the US abandoned the gold standard in 1971, the importance of vaults has diminished somewhat. Prior to that, all US currencies were supported by gold reserves reserved in places like Fort Knox for about a century.
But its Fort Knox Holdings is just another asset owned by the Federal Reserve since the US abandoned its gold standard.
The grip on Fort Knox's public imagination was solidified when the mastermind of a fictional criminal tried to break in, but was stopped by James Bond in the famous 1964 film Goldfinger.
According to US Mint, the actual safe contains at least £9.2 million in gold. This is about half of the gold reserves owned by the Ministry of Finance.
It also includes gold from other countries, but the New York Federal Reserve Bank building at the bottom of Manhattan is technically the largest gold safe in the world.
The government also claims that Fort Knox's gold book value has a book value of $42.22 per ounce, or about $6.2 billion. However, since stockpiles are currently around $2,900 per troy ounce, the stockpile is worth hundreds of billions of dollars, after a surge in value over the past year, Posts It has been reported.
In 1937, Gold began arriving at Fort Knox. Kentucky's Army Station states on its website that 649.6 million ounces of gold was the most gold ever stored in late 1941.
Fort Knox has strong defenses. The structure and composition of precious metal bullion is “known to only a few,” according to the US government, and “no one knows all the steps to open a safe.”
The Kentucky-based facility's safes, which hold gold and valuable items for the US government, have been closed to visitors and are not open to the public.
As Doge's Head, Musk has been occupied by an audit of government spending with the help of his team who stepped up to serve under President Donald Trump's administration. According to Trump, Musk's Doge team started with almost “12 geniuses” and then grew to “nearly 100.”
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