By Robert Schmidt June 16, 2011
|Fmr. Rep. Ron Paul (R-TX)|
- H.R. 1495: Gold Reserve Transparency Act of 2011 , GAO-11-768T: Published: Jun 23, 2011
- Here’s the PDF paper audit of what our congress accepted as a lawful compliance 2011 audit in HR1495 “Gold Reserve Transparency Act”. No evidence of physical inventory being taken by GAO or independent party observers. What they received was a throwback audit to 1974.
- Source PDF
>In 1974, in response to congressional interest and in conjunction with the Mint, GAO assisted in the planning and observed the inventory of gold reserves of the United States maintained by the United States Bullion Depository at Fort Knox.4 GAO selected 3 of the 13 compartments at this depository to be audited. The audit procedures included observing and participating in a physical inventory of the entire contents of the three compartments. GAO did not report any differences between the gold stored in these compartments and the Fort Knox depository’s records. In addition, GAO’s procedures included observing the assaying of a sample of gold bars. The results of the assays indicated that the recorded finenesses were within the tolerances the Mint established.