Congress is making gold a thing again.
Led by the two Republicans who voted against Trump’s “Big Beautiful Bill,” Thomas Massie and Warren Davidson, the bill would require three things of all United States gold holdings:
- A full assay,
- Inventory,
- And audit.
What’s more…
The bill would require a list of any and all transactions made by the United States over the last 50 years.
So, full public disclosure…
Much more than a walkthrough with news cameras.
Here’s more on the topic from the Sound Money Defense League.
Originally posted on SoundMoneyDefense.org:
Members of Congress Introduce Comprehensive U.S. Gold Audit Legislation
(WASHINGTON, D.C., June 6, 2025) – As U.S. debt soars and foreign central banks stockpile gold, four members of Congress today introduced a bill to require the first comprehensive audit of America’s gold reserve in decades.
Sponsored by Reps. Thomas Massie (R-KY), Troy Nehls (R-TX), Addison McDowell (R-NC), and Warren Davidson (R-OH), the Gold Reserve Transparency Act (H.R. 3795) would require a full assay, inventory, and audit of all United States gold holdings.
Importantly, H.R. 3795 will also require full disclosure of all transactions involving America’s gold, including any purchases, sales, loans, pledges, leases, swaps, and other encumbrances, dating back 50 years. Such activities have not been publicly disclosed.
“Americans deserve transparency and accountability from the institutions that underpin our currency,” said Rep. Thomas Massie.
“It’s been literally decades since actual inventories and assays have been conducted with respect to the U.S. gold reserve, and the Department of the Treasury has lost records as well as failed to account for many occasions when vault compartments were inexplicably opened and resealed without new audits,” said Stefan Gleason, CEO of Money Metals Depository.
“The lack of proper audits of America’s gold is highly alarming and totally unacceptable – such shoddy procedures would never pass muster in the private sector,” continued Gleason, whose company operates a maximum-security gold and silver vault in Idaho that is twice the size of the U.S. Bullion Depository at Fort Knox. “Even if a credible audit had been conducted several decades ago, auditing is never a ‘one and done’ affair.”
The gold audit bill comes in an environment where some nations are growing concerned about their gold stored in the United States, or who prefer to hold their gold domestically. For example, leaders in Germany are calling for the repatriation of their gold held in the custody of the Federal Reserve Bank of New York.
An inquiry into America’s sound money stockpile is more relevant than ever, given an inflationary environment where $37 trillion in U.S. federal debt looms large and given that many central banks have been accumulating gold at record rates over the last few years.
Jp Cortez, executive director of the Sound Money Defense League, said, “Now is the time for transparency surrounding America’s gold. As gold is the ultimate form of money recognized the world over, safeguarding the U.S. Treasury Department’s holdings of the yellow metal is very much a national security issue.”
“Only a thorough audit, not a public-relations stunt such as the ‘live walkthrough’ as Elon Musk and others proposed, will suffice,” he concluded. “This situation requires far more than a fun one-day field trip by politicians to Fort Knox, West Point, and other U.S. Treasury vaults.”
To fulfill their obligations under the Gold Reserve Transparency Act, the Government Accountability Office and external independent auditors would gain access to any depository or other public or private depositories where gold reserves are kept, as well as related records. The process is expected to take up to a year to complete and will be repeated every five years.
Rep. Massie has frequently been a leader on issues related to sound money. The full text of H.R. 3795 can be found here.
4 thoughts on "Congress Makes Gold a Thing Again: New Bill Requires Full Gold Audit and 50-Year Transaction History"
When there is confirmation that the US gold reserves have all been leased/rehypothecated and the so called holders of non-allocated gold that has been sold over and over many times find out they are not going to get the gold, then there will be a crisis. The Bond markets will crack, the stock markets will pop, and anything gold will go hyper.
They have the right idea. But permanent Washington will never allow it to happen. If the fiat dollar is once again pegged to gold, the government printing press would have to stop. And the deep state will not allow it. Trump is trying, but he can only do so much. At worst, the American people have a reprieve until 2026 to get ready for the government to implode. Even if the GOP hold the House and Senate after the mid-terms, it will still be business as usual. And the taxpayers will pay.
There is not a snowball’s chance in hell that this will pass….. they can’t reveal the scam to the world.
True, Paul. I wonder if they know it’s a scam. Many of the most powerful in Congress profit from the fiat system anyway.