Politics
Trump Has Raised Questions About Fort Knox. His Allies Are Trying to Cash In.
It is one of the more baffling story lines of Donald J. Trump’s second term. The president has said he wants to personally visit Fort Knox to ensure that no one has stolen the government-owned gold bars that are stored there.
Mr. Trump has not explained why any gold might be missing from the nation’s heavily guarded reserves. His own Treasury secretary, Scott Bessent, has insisted that there is no reason to worry. “All the gold is there,” Mr. Bessent emphatically told Bloomberg in February, at one point looking directly into a camera and addressing the American people.
Mr. Trump’s interest in the gold reserves has been largely overshadowed by his family’s involvement in various cryptocurrency ventures, which has raised ethical concerns about potential conflicts of interest.
The president has a long history of embracing conspiracy theories, and is known to be a fan of golden and gilded things. It is difficult to say what exactly is behind his recent fanning of unfounded fears about Fort Knox, which have been floating around since at least the 1970s.
A White House spokesperson did not respond when asked to comment for this story.
What is certain is that gold is on many investors’ minds these days. Generally seen as a safe place to park wealth during tumultuous periods, the precious metal has risen to record prices recently, in part because of the global economic uncertainty that the president’s shifting tariff policies caused.
Some of Mr. Trump’s allies, including his eldest son, serve as pitchmen for gold investment companies that advertise heavily on their podcasts or radio shows.
And some of them have been using fresh concerns about Fort Knox to make a profit.
The Gold Conspiracy That Wouldn’t Go Away
If nothing else, Mr. Trump’s Fort Knox obsession has resurfaced one of the deeper cuts in the American conspiracy theory catalog.
One reason the government holds onto such large stores of gold is to confer a sense of financial stability, even though the country moved off the gold standard in the 20th century. According to the United States Mint, 147.3 million ounces of gold, about half of the government’s stash, is held at Fort Knox.
The Kentucky facility, known formally as the United States Bullion Depository at Fort Knox, almost never allows visitors and is kept under famously heavy lock and key — an inaccessibility that may explain much of the intrigue around it.
One of the main early proponents of the idea that gold was missing from Fort Knox was a lawyer named Peter Beter, who earned a modicum of notoriety in the 1970s by spreading dark theories in a mail-order audio cassette series. Among other things, Mr. Beter believed that “organic robotoids,” controlled by Bolsheviks, had infiltrated the federal government.
By 1974, concerns about the gold reserves grew so intense that a congressional delegation and a few news outlets, including The New York Times, were invited to Fort Knox for a rare inspection. A reporter for The Times described the effect of seeing a vault 6 feet wide and 12 feet deep, stacked with 36,236 glistening gold bars, as “awesome.”
Another wave of concern crested in 2011, when then-Representative Ron Paul, the Texas Republican, introduced a bill calling for an inventory of the reserves. At a subcommittee hearing, Mr. Paul said people had become worried that “the gold had been secretly shipped out of Fort Knox and sold.” He added, “And, still others believe that the bars at Fort Knox are actually gold-plated tungsten.”
U.S. House of Representatives
The inspector general of the Treasury Department at the time, Eric Thorson, told Mr. Paul that audits were performed yearly, with “no exceptions of any consequence.”
U.S. House of Representatives
More recently, Mr. Trump’s first-term Treasury secretary, Steve Mnuchin, had a chance to check on the gold in August 2017, with Mitch McConnell, then the Senate majority leader, in tow. Photos were taken of the men among the gold bars.
“Glad gold is safe!” Mr. Mnuchin wrote on Twitter, now known as X.
Questions About Ft. Knox Bubble Up Again
The latest concerns appear to have taken off on Feb. 14, when the website ZeroHedge, which occasionally promotes conspiracy theories, tagged Elon Musk in a post on X. The post asked him to make sure the gold at Fort Knox is there.
“Surely it’s reviewed at least every year?” Mr. Musk replied.
“It should be. It isn’t,” ZeroHedge responded. (Mr. Bessent, the Treasury secretary, would later say that the gold is still audited annually.)
Senator Rand Paul of Kentucky, a Republican and the son of Ron Paul, chimed in, calling for an audit. “Let’s do it.”
The next day, Alex Jones, the “InfoWars” conspiracy theorist, said on his talk show that when he was a child, his great-uncle told him some of the gold was missing, and that the “deep state” was involved in the “crime of the century.”
Mr. Musk responded to this post as well. “It would be cool to do a live video walkthrough of Fort Knox!” he wrote.
Then came Glenn Beck, the conservative radio and TV host, who posted an open letter to Mr. Trump the next day, asking if he could take a camera crew to Fort Knox to “restore faith in our financial system.”
The chatter about the gold reserves was growing louder.
By Feb. 20, Mr. Trump was telling a press gaggle on Air Force One that he planned to go to Fort Knox to “make sure the gold is there.”
How the Conspiracy Theory Has Been Integrated Into Sales Pitches for… Gold
Since then, the idea that the government’s gold reserves may have gone missing has been integrated into the sales pitches of companies that trade in gold coins and gold investment accounts. The companies advertise heavily on Trump-friendly TV and internet shows.
InfoWars, The Dan Bongino Show, The Ben Shapiro Show, Triggered with Don Jr.
A number of “gold I.R.A.” companies have suggested that a future audit of Fort Knox could determine that gold is missing, setting off a crisis among Americans about the stability of the economy. Amid such chaos, the companies argue, privately held gold would be a lucrative safe haven for investors.
One of the companies, Birch Gold Group, is endorsed by the president’s eldest son and bills itself as “Donald Trump Jr’s gold company.” A recent article on Birch Gold’s website stated that the idea of an “empty Fort Knox” had gone “from conspiracy theory to mainstream concern.” A discovery that gold was missing from Fort Knox, the article stated, would be the “quickest way down for the U.S. dollar.”
“It is only those without physical gold exposure that feel the need to panic, perhaps with good reason, about the greenback’s admittedly dismal prospects,” states the article, which is accompanied by an offer for a “FREE gold IRA info kit.”
The younger Mr. Trump lauded his father’s plans to visit Fort Knox in a Feb. 24 episode of his online talk show, on which he regularly makes pitches for Birch Gold. “If it’s empty,” he said, “I would imagine there’s hell to pay.”
On Feb. 27, Lear Capital, a gold company that Mr. Beck promotes, posted, “As calls for a Fort Knox audit grow louder, investors should stay informed and consider their exposure to gold as part of a diversified portfolio.”
On Instagram, Rogan O’Handley, a conservative influencer who goes by the handle DC Draino, posted a plug for Donald Trump Jr.’s preferred gold company.
“If Fort Knox is empty, do you know what Gold prices will do?,” Mr. O’Handley wrote. “Get a **Free** info packet from Birch Gold – LINK IN MY BIO – to learn more about @birchgold’s tax-advantaged precious metals retirement plans.”
On another section of Birch Gold’s website, a “Message from Donald Trump Jr.” raised the possibility that his father’s administration could “revalue America’s gold reserves on the national balance sheet from their outdated book value of $42” — the price per ounce the government assigns for bookkeeping purposes — “to current market prices.”
This, he wrote, “could cause a surge in gold prices.” He added, “The potential upside for gold investors is substantial.” A gold I.R.A., he added, would be a great way to benefit. He did not mention that Mr. Bessent had publicly stated that he had no plans to revalue the gold reserves.
Above the message was a digitally altered photo of the president at a desk, showing off an important-looking signed document, a wall of gold bricks behind him.
Mr. Trump has still not visited Fort Knox.
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President Donald Trump is taking his feud with Rep. Thomas Massie, R-Ky., to the libertarian lawmaker’s home turf on Wednesday.
Trump is expected to hold an event in Hebron, Kentucky, on Wednesday, the Republican Party of Kentucky announced on social media Monday. It’s located in the northern part of the state’s 4th Congressional District, which Massie represents.
Massie’s primary rival, Ed Gallrein, will attend the Hebron event, his campaign confirmed to Fox News Digital on Tuesday, while deferring all other questions on the matter to the White House.
Massie himself will miss the event due to a previously scheduled official engagement, his spokesperson told Fox News Digital.
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President Donald Trump will be visiting Rep. Thomas Massie’s congressional district on Wednesday. (Win McNamee/Getty Images; Nathan Posner/Anadolu via Getty Images)
When asked about the visit, White House spokeswoman Liz Huston told Fox News Digital, “President Trump will visit the great states of Ohio and Kentucky on Wednesday to tout his economic victories and detail his Administration’s aggressive, ongoing efforts to lower prices and make America more affordable.”
The president has thrown his considerable influence behind Gallrein to unseat Massie after the GOP lawmaker publicly defied Trump on multiple occasions.
MASSIE, KHANNA TO VISIT DOJ TO REVIEW UNREDACTED EPSTEIN FILES
Massie most recently was one of two House Republicans to vote to stop Trump’s joint operation in Iran with Israel, though the legislation was successfully blocked by the majority of GOP lawmakers and a handful of Democrats.
Ed Gallrein, left, seen with President Donald Trump in the Oval Office at the White House. (Ed Gallrein congressional campaign)
He was also one of two Republicans to vote against Trump’s “big, beautiful bill” last year.
Trump in turn has hurled a slew of personal attacks against Massie, including calling him “weak and pathetic” in a statement endorsing Gallrein in October.
“He only votes against the Republican Party, making life very easy for the Radical Left. Unlike ‘lightweight’ Massie, a totally ineffective LOSER who has failed us so badly, CAPTAIN ED GALLREIN IS A WINNER WHO WILL NOT LET YOU DOWN,” Trump posted on Truth Social at the time, one of numerous criticisms targeting the Kentucky Republican through the years.
He called Massie the “worst Republican congressman” in July amid Massie’s bipartisan push to force the Department of Justice (DOJ) to release its files on Jeffrey Epstein.
Then-Rep. Marjorie Taylor Greene, a Republican from Georgia, Rep. Thomas Massie, a Republican from Kentucky, and Rep. Ro Khanna, a Democrat from California, during a news conference outside the U.S. Capitol in Washington, D.C., on Tuesday, Nov. 18, 2025. (Graeme Sloan/Bloomberg via Getty Images)
But Massie has so far appeared to defy political gravity despite making political enemies out of both Trump and House GOP leaders.
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He handily defeated multiple primary challengers in 2024 and 2022, despite public feuds with Trump, and has served his district since 2012.
Gallrein is a retired Navy SEAL and farmer who launched his campaign days after Trump made his endorsement. Their primary election day is May 19.
As anxiety mounts among California Democrats about the potential of a Republican being elected governor, the state party will spend hundreds of thousands of dollars on polling to assess the viability of the sprawling field of candidates hoping to replace termed-out Gov. Gavin Newsom, according to plans released Tuesday.
The move comes after nearly every Democratic candidate refused party leaders’ call last week to withdraw from the race to avoid splitting the vote in the June primary — an outcome that could lead to a Republican being elected to statewide office for the first time in two decades.
“Candidates have filed, and now they’ve got the opportunity to showcase their viability, their path to win. I want to simply ensure that everybody has information to fully understand the current state of the race,” said Rusty Hicks, the leader of the California Democratic Party.
As campaign season ramps up, the series of six polls will allow “candidates, supporters, the media, voters, anyone and everyone to have a clear understanding of what is or is not happening in this particular race,” he said.
The filing deadline to appear on the June 2 ballot was Friday. Three days earlier, Hicks released an open letter urging candidates who did not have a path to victory to withdraw from the race. Of the nine prominent Democrats who had announced runs for governor, only one heeded his call: former state Assembly Majority Leader Ian Calderon.
That means the eight other candidates’ names will appear on the ballot, regardless of whether they decide to later drop out. And that creates the possibility of a Republican winning the race because of how California elections are decided.
The state has a voter-approved top-two primary system, under which the two candidates who receive the most votes in the June primary advance to the November general election, regardless of party.
Two prominent Republicans will appear on the ballot: former conservative commentator Steve Hilton and Riverside County Sheriff Chad Bianco. Even though Democratic voters outnumber Republicans nearly 2 to 1, and the state’s electorate last elevated Republicans to statewide office in 2006, it is mathematically possible for Democrats to splinter the vote, allowing the two GOP candidates to advance.
Under such a scenario, not only would Republicans be guaranteed the leadership of the nation’s most-populous state, but Democratic voter turnout also would probably be depressed in November, potentially affecting down-ballot races such as those that could determine control of Congress.
Hicks’ call last week prompted concerns among candidates of color, including former U.S. Health and Human Services Secretary Xavier Becerra and state Supt. of Public Instruction Tony Thurmond, that the effort was aimed at every nonwhite candidate in the race.
The state party chairman responded that his letter was not aimed at any specific candidate.
“It’s not something I lose sleep over,” Hicks said when asked about the racial claims. But he added that the voter surveys will be conducted by Los Angeles-based Evitarus, the state’s only Black- and Latino-led full-service polling firm, and will oversample historically underrepresented communities: Latino, Black and Asian American voters.
Hicks said the polling will cost “multiple six figures” but did not specify the exact amount.
The first poll will be released on March 24, and then five additional surveys will come out every seven to 10 days until voters start receiving mail ballots in early May.
“We’re putting this forward to ensure everyone is armed with the information they need to clearly have an eyes-wide-open assessment of where the state of the race currently is between now and when ballots land in the mailboxes of voters,” Hicks said.
Politics
Trump reveals top issues GOP should focus on to secure midterms victory: ‘I’ve never been more confident’
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President Donald Trump outlined five key items he believes will tip the upcoming midterm elections in the GOP’s favor — if Republicans can muscle them through Congress.
“No transgender mutilation surgery for our children,” Trump told an audience at the Republican Members’ Issues Conference. “Voter ID, citizenship [verification], mail-in ballots, we don’t want men playing in women’s sports.”
“It’s the best of Trump. Those are the best of Trump. This is the number one priority, it should be, for the House,” Trump said.
Trump’s exhortations to Republican lawmakers come as the GOP wages an uphill campaign to hang on to a controlling majority in the House of Representatives and the U.S. Senate. He framed his legislative priorities as a way for Republicans to capitalize on popular demands within the GOP base that would increase their chances of preserving a Republican governing trifecta.
President Donald Trump gestures as he boards Air Force One before departing Palm Beach International Airport in West Palm Beach, Florida, on March 1, 2026. (Mandel Ngan / AFP via Getty Images)
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Currently, Republicans hold just four more seats than Democrats in the House of Representatives.
The GOP holds six more than Democrats in the Senate.
To keep the numbers in their favor, Republicans will need to beat historical trends. In the vast majority of past cases, parties that capture the White House in presidential elections face blowback in the midterms. Notably, the last time a majority party gained seats in both chambers of Congress in the midterms came under the Bush administration in 2002, following devastating attacks on the World Trade Center.
House Speaker Mike Johnson, R-Louisiana, left, and President Donald Trump shake hands during an Invest America roundtable in the State Dining Room of the White House in Washington, District of Columbia, on June 9, 2025. (Yuri Gripas/Abaca/Bloomberg via Getty Images)
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Trump said he believes Republicans have a shot at bucking the trend come November if they focus on his list.
“It’ll guarantee the midterms,” Trump said of his legislative priorities.
Republicans have already taken strikes towards two of them through the SAVE America Act, a piece of legislation that would require proof of citizenship to register to vote and cast a ballot. That bill cleared the House last month for a second time in the 119th Congress.
Its future is uncertain in the Senate, where Republicans would need the assistance of seven Democrats to overcome the 60-vote threshold to defeat a filibuster. Democrats, for their part, believe the legislation would disenfranchise voters who cannot readily provide documented proof of citizenship through a passport, REAL ID, or birth certificate.
Senate Majority Leader John Thune, R-S.D. has promised a vote on the package despite its long odds.
Sen. Mike Lee, R-Utah, talks with a guest during a “Only Citizens Vote Bus Tour” rally in Upper Senate Park to urge Congress to pass the Safeguard American Voter Eligibility (SAVE) Act on Wednesday, Sept. 10, 2025. (Tom Williams/CQ-Roll Call, Inc via Getty Images)
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Several members have introduced bills on transgender issues, although none of them have cleared either chamber.
“I’ve never been more confident that if we keep these promises and deliver on this popular agenda, the American people will stand with us in overwhelming numbers, just as they did in 2024,” Trump said.
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