Mnuchin’s Pre-Fort Knox Quip: ‘I Assume the Gold Is Still There’

Bloomberg/Saleha Mohsin & Alister Bull/08-21-17

U.S. Treasury Secretary Steven Mnuchin will check out the nation’s gold stash when he pays a rare official visit to Fort Knox on Monday — while keeping an open mind for future film projects.

“I assume the gold is still there,” the former Hollywood producer joked to an audience in Louisville, Kentucky, 40 miles (64 km) north of the U.S. Bullion Depository. “It would really be quite a movie if we walked in and there was no gold.”

… he will be only the third secretary of the Treasury who has gone inside the vault since it was created in 1936 by President Franklin Delano Roosevelt.

“We have approximately $200 billion of gold at Fort Knox,” said Mnuchin. “The last time anybody went in to see the gold, other than the Fort Knox people, was in 1974 when there was a congressional visit. And the last time it was counted was actually in 1953.”

PG View: Given that the gold reported to be held in Ft. Knox and with the New York Fed comprises 74.5% of America’s reserves, you’d think someone might have wanted to count it at some point within the last 64-years. Unless of course that might reveal an inconvenient truth. I’d be more worried about any encumbrances, more so than whether it’s actually there or not . . .

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