Is there gold in fort Knox Or not? trump enters the fray?

 In the face of doubts, President trump and Elon Musk have demanded a study on whether there is really gold in fort Knox in the United States. donald trump took office as US President for the second time on january 20. At that time, he brought changes in government positions. trump appointed Elon Musk, the world's number one richest man and tesla owner, to the US energy sector. There is now strong opposition to this. In this regard, last week, gold worth $ 425 billion from the US fort Knox treasury disappeared. Elon Musk caused a huge controversy by saying that it is very important for the American people to know this. Of the 2 lakh tons of gold mined on earth, 17% is held by central banks. The US Federal Reserve holds about 8,100 tons of gold. Most of the gold in the US is stored in the world's most secure gold storage facility, Port Knox.
 It is considered the most secure gold storage facility in the US. It is protected by the military. No high-ranking US official can easily enter it. It is known that 147 million ounces (about 4,100 tons) of US gold was stored in Port Knox. Subsequently, it is stored in the Federal Reserve Banks in West Point, Denver, and New York. The last complete gold survey of fort Knox took place in 1953. After that, brief surveys have been conducted only in 1974 and 2017. However, no one has been allowed to fully verify whether there is gold in Port Knox or not. Due to this, many are skeptical about the existence of gold there. Since there has been no formal account or survey of the gold in fort Knox, many are confused about whether the gold in it is safe.
In this context, US President donald trump and the world's number one richest man and tesla owner Elon Musk have said that the gold in fort Knox should be thoroughly studied. Their decision is seen as an important step to ensure the economic status and confidence of the United States. If the study confirms the presence of gold in fort Knox, the economic status of the united states can be strengthened by subjecting that gold to a new valuation at today's market price. This could strengthen the US balance sheet. But if there is a shortage, it can trigger panic, weaken the dollar, and disrupt global financial stability. If there is a shortage of gold, it can reduce the financial stability of the world and create a major commotion. This can trigger extreme declines in currency values and stock market cycles. The state of America's gold reserves is being viewed with great importance, as it could have a significant impact on the global economic situation.
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Sowmiya Sriram

27/02/2025 11:18 AM