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 reserves 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…