President Donald Trump and billionaire Elon Musk are raising doubts about whether the 147.3 million ounces of gold reportedly stored at Fort Knox still exist. Despite Treasury Secretary Scott Bessent confirming annual audits and former Treasury Secretary Steven Mnuchin’s 2017 inspection verifying the reserves, Trump and Musk continue to push for a public investigation.
Musk, speaking on The Joe Rogan Experience, suggested a live-streamed walkthrough, questioning if the gold is real or just painted lead. Trump has vowed to “open the doors to Fort Knox”, implying that fraud or theft may have occurred.
Senator Rand Paul has joined the call for a full audit, arguing for more transparency. The last public viewing was in 1974, and secrecy around Fort Knox has fueled decades of speculation.
As of January 31, 2025, the U.S. Treasury’s monthly report recorded 147.3 million ounces of gold stored at Fort Knox.
Beyond safeguarding gold, Fort Knox has also housed priceless historical artifacts, including the Declaration of Independence, the U.S. Constitution, and the Magna Carta during World War II.
The debate over Fort Knox’s gold persists despite the U.S. abandoning the gold standard in 1971, when President Richard Nixon transitioned the country to a fiat currency system. However, the longstanding belief that gold and the U.S. dollar move inversely remains strong—when the dollar weakens, especially during inflationary periods, gold prices tend to rise.
While some officials insist the gold is secure and accounted for, the push for verification is gaining momentum—and if the gold is missing, the implications for the U.S. economy and global financial markets could be catastrophic.
The U.S. Dollar Would Collapse
The U.S. dollar is not backed by gold, but it is backed by trust. If it were revealed that Fort Knox’s gold is missing or significantly depleted:
– The world would lose faith in the dollar, leading to massive devaluation.
– Foreign investors—especially China, Japan, and Saudi Arabia, who hold trillions in U.S. bonds—could dump their holdings, causing bond yields to skyrocket.
– Inflation could spiral out of control as people rush to convert dollars into tangible assets like gold, silver, and real estate.
Gold Prices Would Skyrocket—And Silver Could Follow
If Fort Knox were proven to be empty or significantly lacking gold reserves:
– Gold prices would surge beyond record highs, as investors panic-buy a tangible store of value.
– Silver, often seen as the poor man’s gold, would likely experience a similar surge, as demand for precious metal hedges skyrockets.
– The gold-to-silver price ratio, already distorted at 90:1, would likely close rapidly as silver gains legitimacy as a monetary and investment asset.
U.S. Markets Would Enter a Crisis
The revelation that Fort Knox lacks the gold it claims to have would create:
– A loss of trust in U.S. financial institutions, leading to stock market turmoil.
– A global flight from U.S. assets, including the dollar and Treasury bonds.
– Potential international sanctions or demands for transparency, particularly from countries that still hold significant gold reserves.
Central Banks Would Shift to Alternative Reserves
If Fort Knox’s reserves prove unreliable, the world’s central banks may begin to:
– Move away from the U.S. dollar and diversify into gold, silver, and possibly Bitcoin.
– Increase gold hoarding, further driving up gold prices and depleting supply.
– Push for a new global reserve currency, potentially one backed by a basket of commodities instead of U.S. Treasuries.
The push to audit Fort Knox raises serious questions about the foundation of the U.S. financial system. While no direct evidence suggests the gold is missing, the simple fact that a sitting U.S. president and the world’s richest man are openly questioning its existence speaks volumes.
If Fort Knox’s gold is indeed gone or mismanaged:
– The U.S. dollar would weaken, potentially triggering a financial crisis.
– Gold prices would surge, leading to an international rush to secure hard assets.
– Silver could emerge as the alternative safe-haven metal, filling the void left by gold.
The world may soon have an answer, as calls for a full-scale audit grow louder. Until then, one thing is certain—if Fort Knox’s gold is missing, the financial world as we know it will never be the same.
