Elon Musk and his cost-cutting Department of Government Efficiency (DOGE) have been encouraged to audit the Gold Reserves inside the Fort Knox facility.
Fort Knox is a super secure facility where the major Gold Reserves of the United States Of America are stored. It is estimated that the total value of the gold in Fort Knox is to the tune of $425 billion based on the present gold bullion rates.
Senator Rand Paul has asked for a review of the Fort Knox vault’s Gold reserves after the Tesla Chief’s views about the stash.
Update: The US Government claims it has almost 5000 tons of Gold, but Fort Knox US Gold Reserve has not been audited since 1974, almost 50 years ago. No one has seen any of it. It’s time for Elon and DOGE to conduct a full audit of every single ounce of Gold!! It’s our money!! pic.twitter.com/U8wCFpd0QU
— US Homeland Security News (@defense_civil25) February 16, 2025
Musk was asked by a user to audit the Fort Knox reserves just to make sure that it is safe after a number of conspiracy theories that gold has utilized a major portion of the 4,580 tons of US gold stored there.
Musk’s attention was drawn to the post and he stated that the Gold reserves would be surely reviewed every year to which Senator Rand Paul, who also joined the interaction, stated in negative and asked Musk to start it.
Interestingly Senator Rand Paul’s father, former Rep. Ron Paul (R-Texas) was a probative of Fort Knox’s gold reserves.
He was a big gold buff and had repeatedly asked government officials for greater transparency on the nation’s gold reserves.
The Fort Knox vaults have been out of bounds for decades and it is not clear when a detailed audit was conducted for the gold reserves.
In 1974 a team of scribes and a Congressional delegation were permitted to visit the ramparts of the super secure facility after rumors that the gold stored had been looted. Much of the speculation followed the James Bond flick, ‘Goldfinger” in which the antagonist tried to loot the gold reserves but his efforts were thwarted by James Bond.
In the last Trump administration, the vaults were again opened for inspection by Treasury Secretary Steve Mnuchin in 2017. The Fort Knox vaults are located in Sen. Rand Paul’s home state of Kentucky.
The Fort Knox vault had great relevance before 1971 and for almost a century all US currency was backed by stockpiles of gold kept safe in places like Fort Knox.
POV: Elon Musk and DOGE arriving at Fort Knox for the audit. pic.twitter.com/Zgl599XMXy
— Carl ₿ MENGER
(@CarlBMenger) February 17, 2025
However, after 1971 when the US left the gold standard, the place’s relevance got diminished.
According to sources the vaults store 147.3 million ounces or 9.2 million lbs. of Gold which constitutes 50% of the Treasur’s Gold reserves. The largest gold reserves are held at the Federal Reserve Bank of New York Building in Lower Manhattan. However, it also stores gold belonging to other governments.
Gold has been stashed in Fort Knox vaults since 1937 and the largest batch,649.6 million ounces, was stashed in late 1941.
Also Read: Elon Musk Faces Flak For “Parasite Class” Comment; Know What It Means?
