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Trump Has Raised Questions About Fort Knox. His Allies Are Trying to Cash In.

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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.

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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.

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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.

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The United States Depository for gold reserves in Fort Knox, Kentucky.

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Associated Press

The Gold Conspiracy That Wouldn’t Go Away

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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.

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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.”

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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

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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.”

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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.

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U.S. Department of The Treasury

Questions About Ft. Knox Bubble Up Again

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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.

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“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.”

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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.”

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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.”

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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.

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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.”

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“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.”

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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.”

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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.

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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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Dem fundraising giant in the hot seat as GOP lawmakers demand answers over dodged subpoena

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Dem fundraising giant in the hot seat as GOP lawmakers demand answers over dodged subpoena

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House Republicans are demanding ActBlue, a top Democratic campaign fundraising apparatus, turn over international communications, probing whether the organization knowingly misled lawmakers and dodged subpoenas to hide weaknesses in its screening process to weed out illegal, overseas donations.

House Administration Committee Chairman Bryan Steil, R-Wis., House Judiciary Committee Chairman Jim Jordan, R-Ohio, and House Oversight Committee Chairman James Comer, R-Ky., collectively laid out their demands in a letter published on Tuesday.

“For more than a year, the Committees have conducted oversight regarding ActBlue’s ‘fundamentally unserious approach to fraud prevention,’” the letter reads.

“Recent reporting … strongly suggests that ActBlue deliberately obstructed the Committees’ investigation, including through misleading statements and noncompliance with our subpoenas.”

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BREAKING THE FOURTH WALL: LEFT-WING GROUPS DEFIANT AS GOP SHEDS LIGHT ON GROUPS TIED TO CHINA

Rep. Jim Jordan leaves a House Republican Conference meeting at the U.S. Capitol in Washington, D.C., on Dec. 10, 2024. (Tom Williams/CQ-Roll Call, Inc)

The letter is addressed to Regina Wallace-Jones, the CEO and president of ActBlue, and is the most recent entry in investigations that began in 2023 when Republicans originally raised concerns about foreign donations possibly influencing American elections.

It also follows New York Times reporting on a memo from Covington & Burling, a law firm, warning that gaps in its screening armor could present “a substantial risk for ActBlue.”

The memo, on its own, does not implicate wrongdoing or indicate that ActBlue accepted international donations. Even so, the reporting caught the eye of Republicans in Congress.

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Steil, Jordan and Comer are collectively asking ActBlue to produce two internal documents to examine the internal understanding ActBlue may have had about its own weaknesses.

The first is a resignation letter from General Counsel Aaron Ting — a document Republicans contend centers on liabilities created by ActBlue’s donation security.

Republicans believe the second, a message from ActBlue’s former legal counsel Zain Ahmad, relates to an ignored whistleblower complaint about those practices.

HOUSE HEARING RAISES RED FLAGS OVER FORMER TECH MOGUL’S ‘CCP NETWORK’ ALLEGEDLY FUNDING OF FAR-LEFT GROUPS

House Oversight Committee Chairman Rep. James Comer (R-KY) speaks to the media on his Committee’s investigation into former President Joe Biden’s cognitive state, in the Rayburn House Office Building on July 24, 2025 in Washington, DC. (Kevin Dietsch/Getty Images)

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Republicans have already requested those documents before, but haven’t received them.

“There is considerable reason to believe that ActBlue may have deliberately withheld this responsive material to impede our investigation,” the letter states.

For its own part, ActBlue has claimed it makes every effort to ensure its fundraising complies with legal requirements.

In ActBlue’s own letter published in Nov. 2023, Wallace-Jones, the CEO, affirmed that the organization maintained the highest standards for scrutiny of its fundraising.

“Our approach is multilayered, with checks and confirmations occurring throughout the donation process to verify donors and donor information,” Wallace-Jones wrote.

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“These measures, which include compliance measures, technological tools, and manual reviews, help to ensure the identity of donors, root out potential foreign contributions, and protect donors from financial fraud.”

OVERSIGHT DEMANDS DOJ ANSWERS ON FOREIGN FUNDING OF AGITATOR GROUPS AS IRAN, ANTI-ICE PROTESTS CONTINUE

Regina Wallace-Jones of Palo Alto soaks up the first evening of the DNC Convention at the United Center in Chicago, IL on Monday, August 19, 2024. (Photo by Yalonda M. James/San Francisco Chronicle via Getty Images)

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Republican lawmakers have given ActBlue two weeks to produce the requested documentation, setting a deadline for April 28, 2026.

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“Absent these steps, the Committees are prepared to use available mechanisms to enforce our subpoenas,” the letter reads.

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Swalwell scandal sparks fears of deeper rot on Capitol Hill

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Swalwell scandal sparks fears of deeper rot on Capitol Hill

Eric Swalwell’s downfall has raised the possibility of a broader reckoning on Capitol Hill as congressional staffers, reporters and opposition researchers race to verify long-standing rumors of a sordid underground culture among the city’s most powerful.

Former lawmakers across the political spectrum have warned for years of a hushed congressional bacchanal marked by inappropriate revelry and sexual misconduct. But a sense of growing momentum gripped Congress on Tuesday, as Democrats grappled with Swalwell’s resignation and Republicans called for other lawmakers to face scrutiny.

The 72-hour collapse of Swalwell’s political career has shifted attention not only to his closest associates in Congress, but also to a larger set of sitting lawmakers from both parties suspected of lurid sexual activity. Several members have claimed that Swalwell’s alleged behavior was an open secret amid a cacophony of rumors on social media of other potential offenders.

“I think that many people knew about this for a while,” Rep. Anna Paulina Luna, a Florida Republican, said in an interview with The Times.

Luna, who planned to lead the charge to expel Swalwell before he resigned, alleged that young staffers would talk among one another about Swalwell’s conduct. Lawmakers should have done more to approach him about the rumors, she said.

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Multiple current and former female staffers who spoke with The Times described a broader culture of warning one another about lawmakers with reputations for inappropriate conduct.

But the warnings, passed privately among junior aides, have focused on “sleazy” activity and boundary-crossing behavior, said one former legislative aide, who asked to remain anonymous. Whispers about sleazy behavior generally do not meet the coverage threshold for traditional newsrooms, which are bound by strict ethical standards.

Another former aide said that quiet guidance shared among female staffers focused on behavior that is legal, but nevertheless viewed as unprofessional and unbecoming of members of Congress — a line that has prevented many from speaking out publicly.

Now, a race is on for leverage between two political parties facing comparable strategic risks — each with members facing growing questions over their alleged conduct — and for scoops among news outlets, seeking to break the story first.

The Monday resignations of Swalwell and Texas Republican Rep. Tony Gonzales, who faced his own sex scandal, was also forcing lawmakers to address the issue publicly. Sen. Ruben Gallego (D-Ariz.) — one of Swalwell’s closest friends in Congress — answered questions from reporters at length Tuesday, telling them he should have confronted Swalwell when he heard rumors about his behavior.

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“You let your guard down. I let him into my circle. … I deeply regret it,” Gallego said.

He denied knowing about Swalwell’s alleged misconduct when asked about the behavior.

“Look, we socialized. We went out. But I never saw him engage in any of the predatory behavior, harassment, sexual assault,” Gallego said.

Notably quiet was President Trump, who has faced sexual assault accusations of his own and frequently parried with Swalwell throughout his presidency. Although Trump posted an article reporting Swalwell’s resignation on social media, he has not commented on the matter in his own words.

The unraveling scandal comes at a time when lawmakers have come together across party lines to push for transparency in the case of Jeffrey Epstein, the late sex offender and alleged sex trafficker whose network of powerful associates included Democrats and Republicans alike.

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The White House did not immediately respond to a request for comment.

Meanwhile, details of the Swalwell scandal continued to unfold Tuesday, as a Beverly Hills woman accused him of drugging and raping her in 2018. The Times could not immediately reach his attorney; he previously denied allegations of rape and sexual misconduct made by multiple women in published accounts last week.

Sex scandals are not a new phenomenon on Capitol Hill, which has seen over a dozen members embroiled in controversy over the last decade, including Katie Hill of California, Cory Mills and Matt Gaetz of Florida, and Blake Farenthold of Texas, among others.

But several prominent former members — including former House Speaker Kevin McCarthy — have warned of a more widespread cultural problem.

“Every member in Congress knows not to let any young staffer get around Swalwell or Matt Gaetz. It’s not a secret there,” McCarthy said Sunday on ABC’s “This Week.”

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Luna had pressed lawmakers to address alleged sexual misconduct on Capitol Hill. In February, she called on the “predatory freaks” in Congress to leave office as she complained about the process to get ethical complaints handled.

“It pisses me off because while some of us are actually working and busting our asses, these clowns are sexually harassing their own staff, doing illegal crap, insider trading etc,” Luna wrote at the time.

Luna said Monday that she was encouraged to see bipartisan support for expelling Swalwell and Gonzales.

A longtime staffer who spoke on condition of anonymity said Tuesday that allegations against Swalwell have sparked conversations about how to do more to help staffers report sexual misconduct, such as reforming procedural rules that would allow staffers to report any of their concerns directly to ethics panels, and about the need for ethics investigations to move more quickly.

“Congress has a short-term memory, that is the difficulty here,” the staffer said. “After these guys leave their seats, there needs to be a concerted and consistent effort for reforms to be established and be made permanent.”

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Video: Vance Says Pope Should Stay Out of U.S. Affairs

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Video: Vance Says Pope Should Stay Out of U.S. Affairs

new video loaded: Vance Says Pope Should Stay Out of U.S. Affairs

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Vance Says Pope Should Stay Out of U.S. Affairs

Vice President JD Vance weighed in on the tension between President Trump and Pope Leo XIV as Catholics expressed dismay about Mr. Trump’s attacks.

“I certainly think that in some cases, it would be best for the Vatican to stick to matters of morality, to stick to matters of, you know, what’s going on in the Catholic Church and let the president of the United States stick to dictating American public policy.” “I don’t think that the message of the Gospel is meant to be abused in the way that some people are doing. And I will continue to speak out loudly against war, looking to promote peace.” “Pope Leo said things that are wrong. There’s nothing to apologize for. He’s wrong.” “I’m not a big fan of Pope Leo. He’s a very liberal person. I don’t think he’s doing a very good job.” “I did post it, and I thought it was me as a doctor, and it had to do with the Red Cross. There’s a Red Cross worker there, which we support.” “It’s terrible. It’s gross. It’s blasphemous.” “I stand with the pope. I mean, the pope speaks the Gospel. He speaks for peace.”

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Vice President JD Vance weighed in on the tension between President Trump and Pope Leo XIV as Catholics expressed dismay about Mr. Trump’s attacks.

By Shawn Paik

April 14, 2026

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