Elon Musk was able to undergo a golden audit.
The world’s wealthiest man encouraged him on Sunday to bring his Cost Cutting Bureau’s Government Efficiency (DOGE) to Fort Knox, one of the safest places in the world.
Senator Randpole sought a review of the large gold reserves of Vault, which are worth an estimated $425 billion based on market rates, in response to the technological mogul meditation on Stash.
The 53-year-old Musk turned his attention to users who asked him to “look inside Fort Knox to see that 4,580 tons of US gold is there.”
“It’s certainly reviewed at least every year,” Musk replied to X user ZeroHedge.
“No. Paul (R-Ky.), 62, yelled, referring to the establishment of the Army south of Louisville.
Former Rep. Ron Paul (R-Texas), the father of the Kentucky Senator – a big gold bug – previously made the country’s reserves more transparent to government officials.
It is unknown that the facility was last undergone a comprehensive audit.
The first tour of the facility took place in 1974 when journalists and delegations of parliament were allowed in accordance with claims that the store had been looted. The Vault was opened again in 2017 during the last Trump administration, when Treasury Secretary Steve Mnuchin looked at them.
Since at least the 1970s, Fort Knox has been plagued by conspiracy theories that presumably have no gold piles present.
The attempt by Representative Paul to enter in in 2010 also included laws where the fort was audited using a language similar to that his son currently employs.
“My attitude is, let’s find what’s out there,” Paul said at the time, according to CBS News.
When Mnuchin visited in 2017 – When he brought in Rep. Mitch McConnell (R-KY), the gold store they saw was unharmed.
However, the relevance of the Vault has not been that way back in the past since the US left Gold Standard in 1971. Before that, about 100 years ago, all US currencies were backed up by stockpiles of gold kept safe in places like Fort Knox.
However, since the US left Gold Standard, Fort Knox’s holdings are just another asset held by the Federal Reserve.
Nevertheless, the hold on the public imagination of Fort Knox was strong, and fictional mastermind Auric Goldfinger attempted to invade, but was thwarted by James Bond in the iconic 1964 film Goldfinger. It hardened when it came.
The real safe has at least 147.3 million ounces. It’s 9.2 million pounds. – The amount of money sitting in a safe, according to the US Mint. That’s about half of the Ministry of Finance’s reserve fund.
(The world’s largest gold vault is actually located in Manhattan, the lower part of the Federal Reserve Bank of New York, but it also houses gold from other governments.)
The government values a book value of $42.22 per ounce, and valued Fort Knox’s total gold worth around $6.2 billion.
But that’s almost a comical underestimation. Gold is currently trading at around $2,900 per troy ounce after a surge last year. In other words, stashes are worth hundreds of millions of millions.
Gold began arriving at Fort Knox in 1937. The largest amount of money hidden at the Kentucky-based Army facility was 649.6 million ounces in late 1941, according to its website.
The Fort Knox is strongly strengthened. The US government claims that the structure and content of valuable metal bullion is “known to only a few” and that “no one knows all the steps to open a safe.”
The Kentucky-based bullion depository institutions store other valuable objects other than gold in the US government, and therefore do not allow visitors and are not open to the public.
During World War II, it was used to protect the Bill of Rights, the Declaration of Independence, and the Constitution. The founding documents were returned to Washington, DC when the war ended.
Musk is busy conducting what is an essential audit of federal spending as part of his Doge team.
President Trump suggested that Musk’s Doge team started out with “12 geniuses,” and then swelled to “nearly 100.”
The post was asked to comment from officials at Fort Knox and Mint in the US.
