The Fort Knox Gold Controversy: A Rekindled Debate
The long-debated question about Fort Knox’s gold is back in the spotlight, and former U.S. President Donald Trump wants answers. "We’re going to Fort Knox to check if the gold is there. Maybe someone stole it. Tons of gold," Trump said on Monday.
The Gold Rush
The story of Fort Knox’s gold began in 1936, when the United States government built the United States Bullion Depository, a highly secure vault located 35 miles south of Louisville, Kentucky. The vault was designed to store the U.S. government’s growing gold reserves, which backed the nation’s currency.
The First Shipment
In 1937, the first gold shipment arrived at Fort Knox via U.S. Mail. By 1941, the vault held 649.6 million ounces of gold – four times the current amount. The vault has since been expanded to store not only gold but also historic documents, including the Declaration of Independence, the Constitution, and the Bill of Rights.
The Gold Reserve
The U.S. Mint states that Fort Knox currently holds 147.3 million ounces of gold, or about 5,000 tons. This represents half of the U.S. Treasury’s total gold reserves, with the rest stored in other facilities. Each standard gold bar weighs 12.4 kg (27.5 lbs). The official book value of the gold, set in the 1970s, is $42.22 per ounce, but at today’s market prices, it would be worth around $428 billion.
Security Measures
The phrase "as secure as Fort Knox" comes from the vault’s extreme security measures. The building is made of 16,000 cubic feet of granite, 4,200 cubic yards of concrete, and over 1,400 tons of steel. Inside, the two-story vault has walls reinforced with 21 inches of concrete and steel. Its 20-ton door is resistant to blasts, drills, and torches. Opening it requires 14 precise turns, and no single person knows the full procedure.
Guarding the Vault
Fort Knox is guarded by the U.S. Mint Police and the military. Additional security includes razor wire and minefields. The U.S. Mint calls Fort Knox a "classified facility" and does not allow visitors. Even past U.S. presidents have been denied entry.
Recent Developments
In 1974, the government allowed journalists and Congress members inside to dispel rumors that gold had disappeared. In 2017, then-Treasury Secretary Steve Mnuchin led a delegation to inspect the vaults. Afterward, he tweeted, "Glad gold is safe!"
The Call for an Audit
Trump’s call for an audit has gained support from high-profile figures, including entrepreneur Elon Musk and Kentucky Senator Rand Paul. "Who is confirming that gold wasn’t stolen from Fort Knox?" Musk asked on X. "Maybe it’s there, maybe it’s not. That gold belongs to the American public! We need to know if it’s still there."
Conclusion
The Fort Knox gold controversy has been a topic of debate for decades. While the U.S. Treasury Secretary insists the gold is accounted for and audited yearly, speculation continues. Calls for a public audit are growing, with some suggesting that a full, independent audit – or even a live-streamed verification – could finally end the controversy.
FAQs
- What is the current gold reserve at Fort Knox?
Fort Knox holds 147.3 million ounces of gold, or about 5,000 tons. - How much is the gold worth?
The official book value of the gold, set in the 1970s, is $42.22 per ounce, but at today’s market prices, it would be worth around $428 billion. - Is Fort Knox secure?
Yes, the vault is designed to be highly secure, with walls reinforced with 21 inches of concrete and steel, and a 20-ton door resistant to blasts, drills, and torches. - Can you visit Fort Knox?
No, Fort Knox is a "classified facility" and does not allow visitors, not even past U.S. presidents.
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