President Donald Trump has announced plans to become the first president in 82 years to travel to Fort Knox, Kentucky, to ensure that the stockpile of gold reportedly stored at the military base is still there.
“We’re gonna go into Fort Knox to make sure the gold is there,” Trump said.
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According to the U.S. Mint, the last time a gold vault was inspected by individuals other than authorized personnel was during President Franklin D. Roosevelt’s visit to the Bullion Depository in 1943 — 82 years ago.
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Lawmakers like Rep. Ron Paul and Sen. Rand Paul have tried to get a straightforward gold audit for years, but even their attempts to enter Fort Knox were blocked by deep state types.
Trump made similar comments in February, telling reporters, “You know that? We’re gonna go into Fort Knox. Do you know about that?”
“One of the things we do want to look — I mean, we hope everything’s fine with Fort Knox, but we’re gonna go to Fort Knox, the fabled Fort Knox, to make sure the gold is there,” he said.
“Where would the gold have gone?” a reporter asked. “If the gold isn’t there, we’re gonna be very upset,” the president replied.
Germany’s experience highlights the controversy. In the early 2000s, Berlin requested the return of its gold held by the US and was told it would take seven years. Such a lengthy delay suggests that the gold was unavailable, fueling speculation it had been leased, sold, or otherwise encumbered.
The United States Bullion Depository at Fort Knox has safeguarded the nation’s precious metal reserves since 1937, becoming synonymous with security and protection. In addition to storing gold reserves, Fort Knox also serves as the U.S. Army’s Human Resources Command Center and hosts the Army’s largest annual training event each summer, the Economic Times reported.
“We’re going to open up the doors. We’re going to inspect Fort Knox,” Trump said in a speech to Republican governors Thursday evening. “I don’t want to open it, and the cupboards are bare,” he added.
Amid these developments, speculation is growing that President Trump, seeking to protect the dollar’s reserve currency status, may move toward partial gold backing. The idea is to preserve the dollar’s global role at a time when ballooning deficits and questions over US fiscal discipline threaten its dominance.
If the global economy shifts away from the dollar to alternative means of settling trade… such as a BRICS currency… financing America’s enormous debt and trade deficits would become far more difficult, if not impossible.
A normalization of relations with Russia might ease the weaponization of the dollar and reduce the impetus for nations to seek alternatives. However, the problem of mounting interest payments on existing Treasury holdings isn’t going to disappear.
For the dollar to retain its preeminence, officials may deem it necessary to anchor it in gold. Yet that move would require confidence that the US possesses sufficient physical reserves.
Originally established as Camp Knox during World War I, the site served as an artillery training center, according to the Army post’s website.
It was designated a permanent installation in 1932 and has been known as Fort Knox ever since.