Star Metro - Sound Money Defense League Applauds President Trump's New Call for Fort Knox Gold Audit, Urges Immediate Action on Gold Reserve Transparency Act

President Trump has now made multiple public comments calling for an audit of America's gold reserves. His most recent statement came in response to reports of a former CIA official allegedly found with $40 million in clandestine "black budget" gold bars in his home.

Earlier this month, during an appearance on Full Measure with Sheryl Attkisson, President Trump was again asked about auditing Fort Knox. He responded: "Well, we wanted to go on the door of Fort Knox ... to see whether or not we have any gold in there. It's a very interesting question. We played with that. I wonder if they left the gold in Fort Knox, because they steal a lot ... I do want to go to Fort Knox. I want to see if the gold is there, which I'm sure it will be."

The Sound Money Defense League and Money Metals Exchange assisted Sen. Mike Lee (R-UT) and four U.S. House members in ensuring the text of S. 3218 and H.R. 3795, the Gold Reserve Transparency Act, contains the necessary provisions that would facilitate a fully credible and thorough audit.

Jp Cortez, executive director of the Sound Money Defense League, said, "President Trump is right. It is long past time for an audit of America's gold, which hasn't been credibly done for many decades. Americans deserve to know that this strategic monetary asset is fully accounted for and unencumbered by any claims against it."

The Gold Reserve Transparency Act would require a full assay, inventory, and audit of all United States gold holdings, along with an upgrade in the purity of the gold so that it meets global market standards. The measure would also require full disclosure of all transactions involving America's gold - including any purchases, sales, loans, pledges, leases, swaps, and other encumbrances - dating back 50 years. Such activities have never been publicly disclosed.

Money Metals analyst Jan Nieuwenhuijs has documented significant shortcomings in prior reviews, including broken seals, gold bar movements without full re-inventories, and incomplete documentation.

Stefan Gleason, president of Money Metals and Money Metals Depository, said, "With central banks across the globe stockpiling gold at record rates, it is a matter of national security that America's gold is secure, fully accounted for, and held in a liquid form that is acceptable on the market."

Sound money reforms at the state and federal levels are increasingly popular. The SILVER Act, which is designed to de-risk, modernize, and strengthen America's precious metals market infrastructure by encouraging greater geographic diversification of approved precious metals depositories, was recently introduced in the House and Senate. It has since gained support from a broad industry coalition and the chairman of the Commodity Futures Trading Commission (CFTC).

Meanwhile, Maryland and Alaska both passed pro-sound money legislation in the past week, removing taxes and other disincentives to buying, selling, storing, and using precious metals as constitutional money.

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SOURCE: Sound Money Defense League

View the original press release on ACCESS Newswire

S.Lapointe--SMC