Fort Knox is thought to hold over 4,000 metric tons of gold, worth approximately $300 billion or more, depending upon the price of gold, yet the gold contained and protected at Fort Knox has not been audited since 1953 and since that time many conspiracy theories, controversies, and doubt has entered into the picture as to whether or not all of the gold that is supposed to be at Fort Knox is actually held within its very secure vaults. The American public has a right to know the truth, good or bad, and not having an audit for over sixty years, seems very suspicious as well as being not acceptable within any prudent business activity. The necessity of having set procedures of periodic physical inventory counts is always of value to any company, to which there are few good exceptions to this rule.
The thing about not having an audit for such a long, extended period of time, especially of a commodity as intrinsically valuable as gold, to which the American government, back in 1933, forced private citizens to surrender their gold and their private ownership of such by government fiat, seems to be the height of hypocrisy or even worst. The government should not be in the position to which they are a law onto themselves, rather than being seen for what government is supposed to be seen as, which is the servant to the people. The people have a right to know whether all the gold that is in theory at Fort Knox is there, and subsequent questions from that audit, depend upon the answer to that vital first question.
As they say in the movies, "show me the money", and it really doesn't get any simpler than that, either the gold is there in all of its untarnished glory or it is something less than meets the eye. Historically, precious metals have backed money, in fact, precious metals for long periods of time, were the actual real form of money, so that if most definitely makes a material difference whether Fort Knox does or does not have all the gold it is supposed to have as per its last audit of 1953.
The American government has an absolute obligation to its citizenry to conduct full and proper audits of its physical inventory periodically yet, for some unknown reason, which raises reasonable person's suspicions; they have failed to have done so in regards for the gold bullion at Fort Knox. The American government has a duty to set the proper example for public as well as private companies in America, to which, if the American government does not believe that it needs to follow generally accepted accounting principles, particularly in regards to physical inventory and audits, than why should any other company do so or be held accountable for failing to do so.
The best way to stop a rumor is through transparency, a thorough vetting, and from full disclosure, of which none of these things have been done to timely satisfaction in regards to the gold bullion held on the behalf of the citizens of the United States of America. It is indeed high time that our government corrects these mistakes of judgment and becomes again the appropriate watchdog that good governance is meant to be.