Treasury Secretary Scott Bessent moved Wednesday to shut down years of speculation surrounding America’s gold reserves, declaring that the nation’s massive bullion stockpile remains fully intact and accounted for.
During an appearance on Fox News, Bessent addressed long-running questions about the gold stored at Fort Knox and other federal facilities, insisting there is no mystery surrounding the government’s holdings. His comments come after years of public skepticism and repeated calls from critics demanding a complete audit of the nation’s most heavily guarded depository.
Before discussing Fort Knox, Bessent offered viewers a brief history lesson on the U.S. monetary system. He explained that America abandoned the gold standard in the 1970s, ending the system that required U.S. currency to be backed by physical reserves of gold or silver. Since then, the value of the dollar has no longer depended on the nation’s bullion stockpile.
