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Posted on 05/21/2026 5:55:18 AM PDT by delta7
Dear Friend of GATA and Gold:
In an interview today with Chris Marcus of Arcadia Economics, Money Metals Exchange CEO Stefan Gleason deplores the superficiality with which the issue of auditing the U.S. gold reserve at Fort Knox continues to be treated by the Trump administration and financial news organizations.
The audits claimed to have been done by the U.S. government, Gleason says, have not really been audits at all but just a review of paperwork that itself has been improperly altered from time to time.
In any case, Gleason says, much of the U.S. gold reserve is impure metal, not acceptable for trade under current "good delivery" standards, and thus could not be fully mobilized in a financial emergency. U.S. Treasury officials, Gleason says, don't seem to understand this basic issue.
Then, Gleason notes, there is the question of whether the U.S. gold reserve has been encumbered in any way by swaps, leases, or other transactions undertaken for surreptitious intervention in markets. That is, that there is gold in Fort Knox is only part of the issue; the other part is: Does anyone besides the U.S. government have a claim on it?
Gleason also recalls a conversation he had some years ago with former Federal Reserve Governor Kevin Warsh, who has just reappointed to the Fed board as chairman, in which Warsh backhandedly acknowledged that the Fed had intervened surreptitiously in the gold market.
The interview is 27 minutes long and can be viewed at the Arcadia Economics channel at YouTube here:
https://www.youtube.com/watch?v=tMTULv4BUN8
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At some point, " good delivery" Gold will become an issue with US reserves.
some years ago germany could not even physically examine their gold reserves. they ultimately got half of it out, i think. what they received was not the actual specific bars that had been deposited long ago, those were never seen again.
after reading the convoluted affair around that, I concluded that one must assume the absolute worst.
Is there anyone who has actually seen the gold?
I”ve read that a lot of our gold there is from melted US gold coins with 90%? purity, not 24 Karat. Dates to FDR and the making of it illegal for private citizens to hold gold, etc.
FDR was a curse on this nation. He made the depression much worse than it would have been and prolonged the event. WW2 ended the depression.
“Is there anyone who has actually seen the gold?”
The people that stole it? :)
An audit of Fort Knox should be the very easiest of Trump’s promises to fulfill.
Count the gold bars. Then take a random sample of the bars, and subject them to XRF testing. The whole process should take a couple of weeks, at most.
It’s puzzling why that isn’t being done. Unless the various crazy conspiracy theories aren’t so crazy after all.
https://goldture.com/guides/standards/x-ray-fluorescence-xrf-analysis/
The fact that no president has ever gone there and ordered one of the vaults to be opened is proof enough for me that some/most/all of the gold is missing.
Still waiting for the cite/source where A1S10 was Amended
The sole reason for avoiding or refusing an audit is because you’ll fail the audit.
Not even about seeing it - the legal ownership of the gold that sits in it’s dusty vaults.
Gold reads like a hostage negotiation...
I’ll agree that the questions of whether the gold is really there, and how much - are entirely justified and deserve answers.
But this recent BS about purity is just stupid. Being only 90% pure does NOT make it “unsuitable tor trade”.
Purifying gold is so simple a cave man could do it.
Only if they intend to sell it on the exchange.
It isn’t “impure”, insofar as pure gold is too soft for coinage. The bars are the remainder of FDR’s gold confiscation order.
I”ve read that a lot of our gold there is from melted US gold coins with 90%? purity, not 24 Karat. Dates to FDR and the making of it illegal for private citizens to hold gold, etc.
With Trump announcing Gold backed ( redeemable) bonds in July, buyers will presumably only buy them if they can receive the Gold in internationally accepted 9999 fine Gold.
Note France recently took the value of their US held gold, sold it , took the money and had new bars poured that met the International standard. Another sticky, the 8,130 tons we claim to have is mostly .900 fine US coinage that was confiscated....purifying the .900 fine gold coinage to .9999 fine will reduce our reserve value, presumably 10 percent.
France pulled 129 tonnes of gold from New York.
France’s central bank has strategically moved five per cent of its gold from New York to Paris. The Banque de France, however, didn’t just shift the reserves; it sold the bars held at the US Federal Reserve and used those funds to buy new bullion,
France moves its gold reserves from New York
Between July 2025 and January 2026, the Banque de France (BdF) moved 129 tonnes of gold, almost five per cent of its total gold reserves, stored in New York back home. With this move, France has moved all of its gold from the New York Federal Reserve, a practice that dates back to World War II — the logic being that the yellow metal held in Manhattan was safe from any invasion that might sweep the continent.
Reasons for France moving the gold reserves
But what led France to make this move? French authorities framed the move as a technical upgrade. BdF’s Governor François Villeroy de Galhau described it as part of a broader effort to replace older, “non-standard” gold bars with bullion that meets current international specifications....
Note Germany and India have done the same. At some point, the US Gold will have to be refined to standard OR discounted heavily....looks like a real $hit show is brewing.
....just another reason why many Goldbugs buy only 24K (.999) sovereign coinage. US Buffalos a favorite ( .999 fine) but the Canadian Maples still the purest at .9999 fine.
Heck, charge $20 admission,,,,it could raise a fortune. I would pay to see it.
I say make sure the bars are there, melt them all down and slough off some junk to improve purity, and use all of it to create a giant Trump Statue.
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