Fort Knox By: kylie Corrin

Have you ever wondered if there are billions of dollars in Fort Knox? Fort Knox may or may not have thousands of gold bars in there. Fort Knox had billions of dollars there, but who knows if it is still there. The government could have taken gold bars out of Fort Knox. Fort Knox could not have gold and it just could have been a big lie. The Gold in Fort Knox is still intriguing Americans around the country until this day.

The Fort Knox sign

Theory 1

Several people believe that Fort Knox has billions of dollars of gold stored in there. Fort Knox was built in 1937 at a cost of 560,000 which is equivalent to $10 million dollars today. Fort Knox was made with 15,000 cubic feet of granite, 1,400 tons of structural steel, and 4,200 cubic yards of concrete.

Security measures are not made public, the observable ones include barbed wire, electric fences, armed guards, mine fields, and dedicated helicopters. The Fort Knox building itself, is located on a secures army post. The gold that is stored at Fort Knox is surrounded by an active U.S. army fort which is protected by many other things.

The vaults are under the management of the U.S. mint. The gold bars are put back bar by bar on each of the 13 vaults. Each and every vault is sealed with this special tape that tells if people have tried to get in Fort Knox. The seals are waxed with a ribbon running through them. A new audit would document each bar and assay 100 percent of the gold bars. It would take 400 people working full-time for six months straight. They would drill to test the purity and document properly, and it would cost $60 million dollars. After they do the public outcry, the vaults would be sealed again. They also have a bomb proof roof so that no one are anything can try to get into Fort Knox.

There was 147.3 million ounces of gold in Fort Knox which represents 3% of the gold mined and used. The gold bars are carried on the books and are $42.22 an ounce. The gold bars look like a dirty gold bars with some corrosion on the gold bars. The gold coins were 22 karat gold which then have impurities.

Mary Brooks was the first to person to lead the public tour in 1947. The gold at Fort Knox has not been counted since 1986. People asked for a tour and the refused, but to have a tour it would cost lots of money.

The 7,628 tonnes stored by the U.S. mint, 4,583 tonnes Fort Knox, 1,364 tonnes in Denver, 1,682 tonnes at west point, 8,134 tonnes owned by the us treasury. In 1933 gold coins in the U.S. accounted for 2,515 tonnes, and 1,901 tonnes were already held at banks and government.

The gold in the vaults

Theory 2

Many people believe that there is not billions of dollars worth of gold at Fort Knox. People say that there might not be any gold in any of the 13 vaults stored there. No question about the gold being there, they would be anxious to prove gold is there. Rumors say that there was actually no gold at Fort Knox.

If they were to conduct an audit it would cost $15 million dollars. They don’t want to conduct a new audit because it would cost $15 million dollars. It would take 30 minutes to verify the gold. They would have to have 350,000 man hours and 400 people working for 6 months full-time to conduct the audit. Only two of the 13 vaults were audited. The U.S. treasury officials admitted that the gold, that was shown to some people, were melted down gold coins. Many people have asked for tours, and the U.S. mint refused because it would cost a lot of money to open the vaults and to seal them back up.

“If people get tired of using paper standard they can deal in gold or silver”, said Ron Paul.

In 2009 they say that the Chinese received fake shipment gold that was tungsten. The government might have used the gold to back the dollar. Ron Paul’s bill will audit. Ron Paul wants to audit the purity of the nation 700,000 gold bars held in Fort Knox. The U.S. gold reserve was to be counted and for a return. The process would take 30 minutes, 350,000 man hours, and 400 people working for 6 months straight. The CNBC asked for a tour of Fort Knox to film the gold, since our only footage of the Fort Knox is from 1947.

Edward Durell was saying that $66 million dollars of gold was stolen from Fort Knox. He said that 300 truckloads of bullion was loaded up and driven away. There was about 7,000 tons of bullion illegally taken from the vaults. They say that between November 1973 and April 1974 millions of ounces of gold has been drained from the american bankers. Dr. Peter Beter says that the gold was spirited away by army trucks over the night, shipped to New York and then flown to Switzerland and the Netherlands. He claims it was illegally sold to the European sources for $42 an ounce. Durell thinks that there is still gold in Fort Knox just not as much as what other people think.

Part of Fort Knox

What I Believe

After much research on the topic of Fort Knox, I have concluded that mostly agree with theory #1. This theory states that yes there is gold at Fort Knox. I believe that there is gold in Fort Knox, but there isn’t as much as what they say there is. They have a lot of security guards protecting Fort Knox. There is a bomb proof roof, so that no one can get in there. They spent millions of dollars on protecting the place. There are many different kinds of security tools to make sure that no one can get in the place. There are multiple people that say there is gold in Fort Knox, and that they have seen it with their own eyes.

Like I said, I think there is gold at Fort Knox just not as much as they say there is. I don’t like there is 147.3 million ounces of gold. I think that there could be about 100,000 ounces of gold stored there. That is still a lot of money because for an ounce of gold is around $42. 100,000 ounces of gold is roughly $4,200,000, that is a lot of dollars worth of gold. If Fort Knox is empty today, I think that other countries have got into the gold and stole the gold. I believe at one time there was gold at Fort Knox, I just don’t know if is still all there.

I could also see why there isn’t gold at Fort Knox and it was all just a conspiracy. The U.S. just could be lying, so they can say they are the richest country in the world. The U.S. mint has refused to give tours, so it could be a lie. The government could have taken money out, or other countries that could have gotten into the gold.

The Gold in Fort Knox is still interesting Americans across the world unto this day. The information I gave you is important because what if Fort Knox is empty. If it was empty, we wouldn’t be the richest country in the world. Other countries wouldn’t want to trade with us because we wouldn’t be the richest. It also causes trouble because other countries won’t loan us money. We won’t have the money to pay them back.

China makes a lot of supplies for us and we won’t be able get the supplies that we need. We wouldn’t get the supplies because we wouldn’t be able to pay them back. China makes the majority of our supplies and we won’t have as much as what we have. Have you ever seen that most of the supplies that we have say, “Made in China?” It’s true most of the supplies we get are made from China.

Made in China

Do you think Fort Knox is empty or do you think that Fort Knox is full of gold?

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