Treasury Secretary Scott Bessent has confirmed that the gold reserves at Fort Knox are fully accounted for, putting to rest conspiracy theories promoted by Elon Musk. In an interview on Fox News with Jesse Watters, Bessent stated that the vault contains over $1 trillion worth of gold, all present and accounted for.
Musk's claims debunked
Elon Musk, serving as a special advisor to President Donald Trump, had earlier suggested that Fort Knox might be missing its gold. However, documents released during Trump's first term show that the Treasury Office of Inspector General conducts annual audits of the gold, including inspections of compartments and seals. In 2017, then-Treasury Secretary Steven Mnuchin and then-Senate Majority Leader Mitch McConnell visited the vault, with photos released to the public.
Annual audits confirm reserves
The audits verify that all gold compartments are locked and seals are intact, ensuring no tampering. Despite Musk's claims that the gold hadn't been seen since 1974, these inspections and visits demonstrate ongoing oversight. Musk has not commented on Bessent's confirmation; his last post about Fort Knox on X was in February 2024.