US Congressmen introduce a bill to initiate the first comprehensive audit of America’s gold reserves
The post US Congressmen introduce a bill to initiate the first comprehensive audit of America’s gold reserves appeared on BitcoinEthereumNews.com.
Today, four members of Congress, led by Thomas Massie, have introduced a bill to initiate the first comprehensive audit of America’s gold reserves. The Gold Reserve Transparency Act (H.R. 3795) requires a full assay, inventory, and audit of all United States gold holdings for decades. The four congress members are Reps. Thomas Massie, Troy Nehls, Addison McDowell, and Warren Davidson. According to Thomas Massie, “Americans deserve transparency and accountability from the institutions that underpin our currency.” H.R. 3795 will also require a full accounting of all purchases, sales, loans, pledges, leases, swaps, and other encumbrances of America’s gold that happened more than 50 years ago. These kinds of actions have not been made public. The public feud between US President Donald Trump and the world’s richest man, Elon Musk, raised questions about the future of the Department of Government Efficiency (DOGE) and its promise to examine America’s gold holdings in Fort Knox. However, DOGE’s work still continues without Musk. Gold audit to give a better outlook of the US economy It’s been decades since real inventories and assays of US gold stocks were done. Also, the Department of the Treasury has lost records and can’t explain why vault compartments were opened and closed again without new audits. Stefan Gleason, CEO of Money Metals Depository, said, “The lack of proper audits of America’s gold is highly alarming and totally unacceptable – such shoddy procedures would never pass muster in the private sector […] Even if a credible audit had been conducted several decades ago, auditing is never a ‘one and done’ affair.” The Gold Reserve Transparency Act, the Government Accountability Office, and outside independent inspectors will be able to see any depository or other public or private depositories where gold reserves are kept, along with the records that go with them.…
Filed under: News - @ June 6, 2025 7:24 pm