Is the word of an ex-
U.S. Treasury Secretary Steven Mnuchin paid a rare official visit to Fort Knox to check out the nation’s gold stash on Monday — while keeping an open mind for future film projects.
“I assume the gold is still there,” the former Hollywood producer quipped 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.” After the visit, he playfully reassured Americans the treasure was still secure.
“Glad gold is safe!” he wrote in a post on Twitter.
Fort Knox has been seared into the public imagination since the 1964 James Bond movie “Goldfinger,” in which the British spy, played by Sean Connery, foiled a plot to contaminate the nation’s bullion.
Mnuchin, whose action-film credits include ‘‘Mad Max: Fury Road,” “The Lego Batman Movie” and “Suicide Squad,” said that he would be only the third secretary of the Treasury to go 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.”
Rand Paul argues that it’s time to audit the Fed. I assume that a thorough audit would include counting the gold in Fort Knox.
It is time to defy the critics and pass the Federal Reserve Transparency Act, which would be a momentous victory for accountability and transparency and send the establishment’s head spinning, Kentucky Sen. Rand Paul wrote in an opinion piece in The Daily Caller on Monday.
More popularly known as “Audit the Fed,” the act would “open up the Fed’s agreements with foreign governments and central banks, its discount window and open market operations, its member bank reserves, and its Federal Open Market Committee directives to thorough examination by the people’s representatives — for the first time since its creation in 1913,” Paul wrote.
The act does this, Paul explained, by removing “the restraints on how the nonpartisan, independent Government Accountability Office can audit the Federal Reserve System, requiring the GAO to conduct an audit within one year of the bill’s passage and report back to Congress within 90 days of finishing it.”
Paul said that skeptics have said that since the nation’s central bank is one of the most powerful institutions in Washington, passing such legislation would never be feasible, but the senator credited “grassroots Americans” for making sure that congressmen don’t give up the struggle to make it into law.
The measure has already passed the House and last year missed reaching cloture by only seven votes.
Paul praised those supporting the bill as “concerned Americans who look down the road and wonder how much of our nation’s prosperity and opportunity will be swallowed up by debt or lost in financial crises fueled by artificial market signals and central planners’ economic tinkering.”