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Fort Knox Standoff: Bessent Says All The Gold Is There, Says America 'Used To Be Backed' By It

  • Treasury Secretary Scott Bessent confirmed on July 15 that all the gold in Fort Knox is present and accounted for, noting the facility holds over a trillion dollars worth of gold at current market value.
  • The United States ended its gold standard in the 1970s, transitioning to a fiat currency system that does not require backing by gold or silver.
  • President Donald Trump and Elon Musk called for investigations into Fort Knox's gold reserves, expressing interest in audits, while official audits are conducted annually by the Treasury's Office of Inspector General.
  • Legislation has been introduced in Congress to mandate a full audit of the U.S. gold reserves, but the bill has not advanced beyond committee.
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Zero Hedge broke the news in Sofia, Bulgaria on Wednesday, July 15, 2026.
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