Is Fort Knox empty? Musk and the Senate open Pandora's box of U.S. gold

For 50 years, one question has haunted conspiracy theorists: Does gold really exist at Fort Knox, or was it looted decades ago?

The last “audit” dates back to September 23, 1974 — half a century ago. The U.S. Treasury only opened one of 15 vaults, allowing politicians and journalists to see about 6% of the reserves for two hours, without verifying serial numbers, purity, or confirming it was U.S. gold. Since then, the only “annual inspection” has been just a security seal, not a real audit. No independent audit has ever confirmed the approximately 4,580 tons that the U.S. claims to hold.

Musk’s Moment

Now, this is going viral. Elon Musk’s Government Efficiency Department ((DOGE)) is investigating federal waste — so why not investigate Fort Knox?

When a user on X asked Musk if he should verify the gold reserves, he casually replied, “Of course, it’s checked at least once a year.” Those seven words set Washington on fire.

Senator Rand Paul responded: “Let’s start.” His father, Ron Paul, has been pushing for real audits for years, arguing that Americans have no proof the gold even exists.

Bitcoin vs. Gold: The Radical Proposal

Here’s where it gets interesting. Senator Cynthia Lummis stepped in with a bold idea: replace gold with Bitcoin.

Her argument:

• Gold can’t be audited in real-time
• Bitcoin can: anyone with a basic computer can verify reserves instantly
• She proposes buying 1 million BTC (5% of the total supply) using existing Federal Reserve funds — without new taxpayer spending

Musk responded with a thinking emoji 🤔 — possibly considering the proposal.

The Historical Context

Since the U.S. abandoned the gold standard in 1971, Fort Knox has gone from being the backbone of monetary backing to just “another asset.” But in the public mind, it remains an impenetrable fortress — even James Bond couldn’t infiltrate it in 1964.

The Uncomfortable Question

Is Fort Knox really a symbol of American power, or just an empty vault? With DOGE investigating waste and political pressure mounting, answers may be coming soon. And betting on Bitcoin as an alternative… that’s a twist no one saw a year ago.