Don't Trust, Verify: Senator Rand Paul Proposes an Audit of Fort Knox's Gold

2025-02-17 11:33:50

Abstract generation in progress

During an online exchange involving news outlet Zerohedge and D.O.G.E. head Elon Musk, Rand Paul explained that Fort Knox’s gold reserves weren’t audited yearly. Paul proposed to help Musk conduct this audit and verify that the purported $425 billion worth of gold is still held there.

A Golden Opportunity: Senator Rand Paul Proposes to Audit Fort Knox Gold Reserves

The Department of Government Efficiency (D.O.G.E.) and Senator Rand Paul might be close to striking gold. During an online exchange, a proposal for an audit on the purported gold reserves of Fort Knox, the largest gold vault in the U.S., gained traction.

The proposal arose after the news and opinion outlet Zerohedge’s suggestion to audit these reserves went viral on social media.

Zerohedge called Elon Musk to put D.O.G.E. attention to these alleged reserves. It stated:

It would be great if Elon Musk could take a look inside Fort Knox just to make sure the 4,580 tons of US gold is there. Last time anyone looked was 50 years ago in 1974.

After the post went viral, Musk directly answered the post, stating he believed these reserves were updated and audited yearly. Nonetheless, Senator Rand Paul and Zerohedge stressed that was not happening. “Nope. Let’s do it,” Paul declared.

While there are no assurances that this exchange will lead to an actual audit of the U.S. gold reserves, it might take D.O.G.E. to give it a closer look, given its track of auditing and reviewing several government agencies looking for inefficiencies.

While the U.S. Mint states that about half of the national gold is stored in Fort Knox’s vaults, the facility has not been opened to the public since 1974 when a Congress commission was allowed to enter for an inspection. At the time, Fort Knox was also fighting allegations that the gold was removed from its vaults.

After this visit, Fort Knox only has registries of a second visit by Treasury Secretary Steve Mnuchin, Kentucky Governor Matt Bevin, and other congressional representatives in 2017. They have been the only ones allowed to enter these vaults since 1974.

Read more: Bitcoin’s Gains Lag Behind Gold as Trump’s Trade Policies Drive Safe Haven Demand

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