The good news out of Fort Knox: the gold is still there.
The bad news: since 1971, when we cut the dollar loose from gold, more than 85% of the dollar's value has vanishedhttps://t.co/AwNvuylFDo
— Rand Paul (@RandPaul) August 11, 2026
I visited Fort Knox today.
The dollar has lost 97% of its purchasing power since the Fed opened in 1913. $100 then is worth just over $3,300 today.
This is no accident. Congress spends without limit, while the Fed prints the difference. https://t.co/TmeJw3ZkJv
— Senator Rand Paul (@SenRandPaul) August 10, 2026
Well, he’s not wrong. At least we have another assurance that the gold is actually there, or, at least, that there is gold in there. My colleague Nick Arama, writing in July, also brought us the assurances of Treasury Secretary Scott Bessent, who also verified that yes, there is gold in that thar fort.
In the letter to the Treasury that Senator Paul sent announcing his intention to visit the Depository, he also expresses his desire to see an independent audit done of the gold contained there. Is there really as much as the Treasury says is there? Is it, as they say, all three nines fine? What about the United States’ bullion stored elsewhere? I’m suspecting it’s all there and accounted for; stealing gold from under the noses of the American government from the very facilities meant to keep it secure would be a major task even for a certain James Bond villain. But it is our gold, technically speaking, and it wouldn’t be the worst idea to have someone go through and tally it up now and then. I mean, we all were taught to balance our checkbooks periodically. Shouldn’t the nation do likewise?