(Kitco News) – Fresh off his recent forays into the Treasury Department’s payment systems, tech billionaire Elon Musk is now gearing up to conduct an in-person audit of the United States’ gold reserves at Fort Knox on behalf of the Department of Government Efficiency (DOGE).
Musk announced his intentions on Monday afternoon through a pair of posts on his X platform, implying that he doubts whether the $425 billion in bullion is really there. Republican Senator Rand Paul of Kentucky, the state where Fort Knox is located, said in an interview with Fox News on Monday that he invited Musk to review the gold reserve after failing to gain access to the facility for a decade.
“I think some of them may not think it needs to be audited all the time, but I think the more sunlight, the better, more transparency, the better,” Paul said. The Senator also insisted that even though the U.S. dollar hasn’t been explicitly backed by gold for over 50 years, the precious metal still provides some of the value undergirding the greenback.
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