February 20, 2025
No Check In Decades
This move comes as Elon Musk’s Department of Government Efficiency (D.O.G.E) plans a nationwide audit of U.S. assets, following a question on X about Fort Knox’s gold. The last public verification of this gold was in 2017, and before that in 1974.
The U.S. Treasury claims Fort Knox holds gold worth $425 billion, but there has been no independent check in decades. Musk’s comment led to calls for an official audit, with Senator Rand Paul and his father, Ron Paul, long questioning the government’s claims.
More Cost-Cutting
Senator Cynthia Lummis praised the decision, deeming it essential to improve transparency before also suggesting a Bitcoin (BTC) reserve, claiming it could be audited anytime. Musk seemed open to the idea.
Meanwhile, Defense Secretary Pete Hegseth has been tasked with cutting 8% from the Pentagon’s $850 billion budget over five years, as part of D.O.G.E’s cost-saving mission. If implemented, this would reduce defense spending by $68 billion annually. Trump has also proposed halving the Pentagon’s budget once geopolitical tensions ease.
