Hi everyone, and welcome back to the Elon Musk Podcast. I'm your host, Will Walden, and if you're new here, this is a show all about Elon Musk. It is groundbreaking work that he's doing with his various companies, including Tesla, SpaceX, The Boring Company, Neurolink, and of course, X. And before we dive into today's episode, I wanted to share a quick insight from our shows analytics. It turns out the 45% of you listening right now are subscribed to the show and thank you for that.
But that means that 55% of you are not. So I'm offering you a deal. I promise to do everything in my power to keep bringing you the latest and most interesting news about Elon Musk every single day and about his companies. If you'll do me one favor and hit the subscribe or follow button on your podcast platform right now, that's it. Pretty simple and straightforward. It takes just a second for you, but it makes a huge difference for the show Elon Musk News. I've got a question for you.
Think about this. When was the last time you thought about Fort Knox? It's probably been a long time. I remember when I was a kid, we would talk about Fort Knox like it was a mythical place. This stored all the gold reserves that the US had. Also treasures of war, relics from America's past, the Constitution. I remember there were stories about so many conspiracies about Fort Knox, but what's really going on there? And is America's gold reserve really safe?
Now? That's a question that President Donald Trump and Elon Musk is asking. They're asking for an audit of the US gold reserves housed at Fort Knox. And for decades, conspiracy theories like my own have swirled around the high security facility in Kentucky, with skeptics questioning whether all the gold is still there and the government insists the reserves are intact and accounted for. But the lack of a full audit since the 50s has only fueled speculation.
Now, with Trump's announcement and also Elon Musk stirring the pot a little bit on X, public interest in Fort Knox has peaked again. Now, Trump made headlines after revealing plans recently to conduct a full audit of the Fort Knox gold reserves. This is a move that hasn't been attempted in decades since the 70s, and interest in the matter gained traction following a post from Musk who openly questioned whether the gold was still in the vault.
Now Musk, who now hence the newly created Doge, is expected to be involved in the inspection process. Meanwhile, Senator Rand Paul has formally requested an in person audit and set a deadline of March 19th for a visit to the facility. And according to official records, Fort Knox contains approximately 147.3 million Troy ounces of gold. the US Mint places the total value of these reserves at around $434 billion based on current market prices.
However, the Treasury Department maintains an outdated valuation of $42.00 per oz, a number that has remained unchanged since 1973. Now, the discrepancy has led to further scrutiny, and also critics are questioning why the government continues to use a figure from 1973 that's far
below market values. Could it be that just the government's inefficiency, could it be that there was somebody that's should be in charge of this, but they just don't have the time to do it or they just don't care? Because in the 70s we got rid of the gold standards. Now, the secrecy surrounding Fort Knox has long been a source of intrigue, though civilian access to the depository is strictly prohibited, you can't get in, ever.
And the last time anyone outside government circles was allowed to see the gold was in 1974, when a small group of journalists and Congress members were given a brief tour. Now, the absence of a full audit since the early 50s has only fueled theories for some that some or even all of the gold might just be gone, might be missing. He Despite repeated assurances from the Treasury Department, speculation has continued and there's no independent
verification. But Treasury Secretary Scott Besent has attempted to shut down the rumors, stating unequivocally that, quote, all the gold is present and accounted for. He insists the Fort Knox undergoes routine audits, but critics argue that these are internal reviews rather than independent investigations. Former Treasury Secretary Steven Munchen, who visited Fort Knox in 2017, also reaffirmed the gold's presence, saying, quote, the gold was there when I visited.
I hope nobody's moved it. I'm sure they haven't. But for many Americans, these reassurances aren't enough. Now, Elon Musk's involvement has also put some more fuel in the fire, as it usually does. He took to X to stir some speculation and he asked everybody who is confirming that gold wasn't stolen from Fort Knox. Why would he say that? That's a that's a question that you do to rile up some people, right? You troll people by saying that you wouldn't even say it.
You know, like if if he's working to be efficient in the government, he wouldn't say anything about it. He would do the job, and he would continue to push forward and release the information. Then he said maybe it's there, maybe it's not, I don't know. His comments quickly gained traction, though, with thousands of users joining the debate.
And while Musk has no formal authority over the nation's gold reserves, his influence in government and his position at DOGE have made him a key figure in this conversation. Now, Elon and Trump are working together, and Trump's decision to push for an audit has intensified the discussion. And during a flight on Air Force One, the former president addressed the matter directly, stating that his administration would be, quote, very upset if the gold was missing.
He later announced plans for an official inspection, declaring, quote, we're going to make sure the gold is there. Now, Trump's remark have raised the stakes, putting pressure on the Treasury Department to allow a more transparent review of the reserves. You know, the demand for transparency has gained momentum recently, with some even calling for a live stream inspection of the facility. That's never going to happen. That's against all sorts of
regulations. And while such an event is unlikely given the security concerns, the idea reflects the government public distrust surrounding Fort Knox. It's a it's a mythical place for most people. Also, when have you thought about it? Leave it in the comments. Senator Rand Paul, a longtime proponent of government audits, has backed Trump's proposal, arguing that a full independent review is long overdue. He said the American people deserve to know if the gold is
really there. Despite the heightened interest, there's no evidence to suggest that any gold is missing from Fort Knox. Rumors appear to be based more on historical skepticism than any concrete proof. Nobody's been in there, so nobody really knows what goes on, so people just make stuff up and the government. Officials have repeatedly stated that the reserves remain untouched, and official records indicate that the full 147.3 million ounces are accounted for.
Nevertheless, the push for an audit is unlikely to subside, particularly with figures like Musk and Trump keeping the issue in the spotlight now. Fort Knox's history as a target for conspiracy theories dates back decades. During World War 2, the depository was used to store valuable national treasures, including the original US Constitution and the Magna Carta.
And over time, the extreme security measures surrounding the facility contributed to its almost mythical status, the idea that the gold might be missing for skiing traction in the 1970s after President Richard Nixon ended the gold standard. And since then, theories have persisted, with some alleging the government secretly sold or removed the reserves.
Now, the Treasury Department maintains that all the gold holdings are properly accounted for and undergo regular audits, though these are conducted internally. And people argue that without an independent review, somebody from outside of the government, the government's word alone is not sufficient. You can't trust them, right? You can't trust the government. And some have even suggested that an audit should include third party verification to
dispel any lingering doubts. Whether such a move will be approved remains uncertain. Would you consider Elon Musk a third party since he's part of Doge, but he's not part of the Treasury Department. He's outside of the government, but also inside the government. He works for the government, but he is independent in the way that he's doing this. It's an interesting question to think about.
The discrepancy between the government's 42 ounce valuation, $42.00 per oz valuation in the actual market price of gold is also a point of contention. Like, why would you keep the price that low? Some analysts argue that the outdated valuation benefits the government by keeping the reported value of gold artificially low. Others believe it's simply a bureaucratic oversight. Somebody forgot to tick a box or increase the price.
It's never been updated. Either way, the issue has added another layer of complexity to this debate over the US gold reserves. There's no official audit scheduled quite yet. Discussions are ongoing, though, trying to figure it out. The Treasury Department has indicated that senators interested in inspecting the gold can just arrange visits through official channels. Not a big deal And whether this will satisfy calls for transparency remains to be seen. And the date would be March
19th. If they do go through with this, that's the deadline that's set by Senator Paul for an in person inspection. The pressure, the pressure on government to act will also increase in that time. But who really knows what's going on? Some see the push for an audit as a necessary step towards Government Accountability, while others dismiss it as a politically motivated stunt. Why Elon and why Trump? Why are they doing this right now? Why hasn't anybody done this before?
And why didn't Trump do it in his first administration? If he's really concerned about transparency, he could have just got an appointment his first time around. So what's happening this time? This different than last time? Does he have more power now? Is he using more executive power to do things that maybe he just couldn't do last time? I don't know. Nobody really knows except for
Trump and his closest allies. And regardless of where people stand in this conversation, the interest in Fort Knox is pretty wild right now, proving that even in 2025, the mystery of what lies behind those heavily fortified doors still captures all of our imaginations. Could you imagine walking through Fort Knox? So the, the stories were when I was a kid, you go through these big doors, big giant steel doors, four feet thick or whatever.
No way to get out of this thing. It's in the side of a mountain. You walk through three or four of these doors. You take an elevator into a subterranean area. That's where they house all of the gold. That's what I was saying when I was a kid. That's what we thought. It's pretty wild to think about it. Laser traps everywhere. You know, there's armed guards everywhere. In reality, it's probably not super crazy.
It's probably very high security, of course, but no Mission Impossible, no James Bond, nothing like that. Probably a highly secure government facility with a bunch of gold in it since we're not on the gold standard anymore. Sure, it has value, but you know, do they guard it as much or less than they used to? Only time will tell, right? Just start in the spot. Let's start in the pot a little bit there. Let me know if you have comments on your podcast platform. Let me know what you think.
I think it'll be interesting to see what they come up with and actually it would be interesting to see if Elon and Trump actually go to Fort Knox or if they just wait for senators or whoever, like whatever senator decides to step up, steal the Thunder a little bit. Do it before March. Just, you know, they said if you go through the proper channels,
you can get it done. So maybe a Democratic senator would step in and before Trump and Elon get there, maybe they can get the headlines instead of them. What about that, do you think? Why don't they? Why don't the Democrats also fight back against this? It's something that they'll probably fight back against a
little bit. They'll probably mention it, but they won't do anything about it. But it would be a funny thing if they did if EOC or somebody just showed up and just like, hey, I'm going to check out the the reserves of gold. Now what it's interesting to think about, right? The politics of it all. Hey, thank you so much for listening today. I really do appreciate your
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