Billionaire Elon Musk has raised doubts about whether the 4,500+ tons of gold stored in Fort Knox is still intact, triggering calls for a formal audit of the heavily guarded U.S. gold reserve.

“It would make sense to have a live feed from inside Fort Knox. Who can verify that the gold hasn’t been stolen?” Musk wrote on X (formerly Twitter) over the weekend.

“It may be there, or it may not. The American people own that gold. We want to know if it’s still there.”
Musk’s Comments Stir Controversy

Musk’s remarks set off a firestorm on social media, with many demanding government transparency regarding the U.S. gold reserves. Others dismissed his claims as a conspiracy theory.

Fort Knox, officially called the United States Bullion Depository, is one of the most secure gold storage facilities in the world. Built in 1936 next to the Fort Knox Army base in Kentucky, it holds the largest gold stockpile in the U.S., including Federal Reserve reserves.

During World War II, the U.S. government moved its gold reserves from New York and Philadelphia to Fort Knox, fearing a potential attack as Europe descended into war. The first shipments arrived in 1937, with the remainder transferred by 1941.

At its peak in 1941, Fort Knox held 20,186 metric tons of gold. Today, the U.S. Treasury reports that 4,573 metric tons remain—over half of the U.S. government’s total gold reserves.

Fort Knox has also stored valuable national documents, including the Bill of Rights, Declaration of Independence, and U.S. Constitution, which were moved there for safekeeping during World War II before being returned to Washington.
Is Fort Knox Gold Really Secure?

Fort Knox is known for its extreme security measures, with U.S. Mint Police tasked with guarding the facility. Only three official visits have been allowed since its construction:

1943: President Franklin D. Roosevelt toured the facility.
1974: A congressional delegation inspected the vaults to assure the public the gold was still there.
2017: Senator Mitch McConnell and then-Treasury Secretary Steven Mnuchin visited Fort Knox.

“The vault is extremely well-protected, and the gold is safe,” said former Kentucky Governor Matt Bevin after the 2017 visit under the Trump administration.

In 2018, the U.S. Treasury released black-and-white photos of the vault, showing officials inside. The government publishes monthly reports on U.S. gold reserves and their usage, but public suspicion remains high, fueled by Fort Knox’s strict no-access policy.
Senators Question Fort Knox Transparency

Musk’s comments have reignited long-standing concerns about government accountability regarding the Fort Knox gold supply.

Senator Mike Lee revealed he has repeatedly been denied access to the vault.

“I have tried to visit Fort Knox multiple times as a U.S. senator, but I was refused entry under the reasoning that it is a military base—even though I regularly visit other bases,” Lee said.

The U.S. holds the largest gold reserves in the world, with 8,133 metric tons—twice as much as Germany, the second-largest holder.
Fort Knox Conspiracies Aren’t New

For decades, politicians, authors, and financial experts have questioned the actual contents of Fort Knox.

Former Congressman Ron Paul, a long-time advocate for a full audit of Fort Knox, has repeatedly called for transparency, introducing the Gold Reserve Transparency Act in 2011.

“I believe the gold is still in there. But the real question is: Who actually owns it? Given the complex system of financial loans and asset swaps, that’s something we need to clarify,” Paul said.

Musk did not directly call for an audit, but he questioned whether regular inspections occur at least once per year.

In response, Senator Rand Paul—Ron Paul’s son—said, “No. We should absolutely do that.”
Rising Gold Prices Fuel Public Interest

Public concern over gold reserves has increased as gold prices surged 40% over the past 12 months, driven by fears over U.S. debt and inflation.

With Musk’s remarks gaining traction, Fort Knox is once again in the spotlight—raising new questions about whether the nation’s gold supply is truly accounted for.

(Sources: Economic Times, Forbes, Washington Post)

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