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.
Politics
Trump announces peace deal with Iran, declares Strait of Hormuz will reopen: ‘Let the oil flow!’
JUST IN: Trump announces Iran deal opens Strait of Hormuz, lifts naval blockade
Fox News chief foreign correspondent Trey Yingst covers President Donald Trump’s major announcement of a peace deal with Iran. Trump’s ‘Truth Social’ post details the toll-free opening of the Strait of Hormuz and removal of the U.S. naval blockade, allowing for increased oil flow. The deal aims to bring peace to the Middle East after months of conflict.
NEWYou can now listen to Fox News articles!
President Donald Trump announced Sunday that the United States and Iran have officially reached a peace agreement, marking a major diplomatic breakthrough that would reopen the Strait of Hormuz and end the U.S. naval blockade of Iranian ports.
“The Deal with the Islamic Republic of Iran is now complete,” Trump wrote in a post on Truth Social.
“Congratulations to all! I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!”
Pakistani Prime Minister Shehbaz Sharif, whose country has served as a mediator, was the first to announce the peace deal, saying a signing ceremony is scheduled to take place Friday in Switzerland.
TRUMP SAYS HE’S CANCELED IRAN STRIKES, ADDS POTENTIAL DEAL-SIGNING ‘TO BE ANNOUNCED SHORTLY’
President Donald Trump speaks in the Oval Office of the White House on June 11, 2026, in Washington, D.C. (Jim Lo Scalzo/EPA/Bloomberg via Getty Images)
Trump added that the Strait of Hormuz will reopen once the parties formally sign the agreement.
“With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!” he said.
IRAN REVEALS 10-POINT PLAN FOR PEACE WITH THE US – HERE’S WHAT’S IN IT
President Donald Trump looks at Pakistan’s Prime Minister Shehbaz Sharif speaking in Egypt in 2025, following the signing of the first phase of the Gaza ceasefire agreement between Israel and Hamas. (Evelyn Hockstein/Reuters)
According to Sharif, the deal includes the termination of military operations across the region, including in Lebanon, where Iran-backed terrorist proxy Hezbollah has been engaged in conflict with Israel.
“Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon,” he said.
Additional details of the agreement, including any provisions related to Iran’s nuclear program, were not immediately released.
Iran’s deputy foreign minister said talks with the United States on a final and more comprehensive agreement will take place during a 60-day ceasefire period, according to Reuters.
The outlet reported that the future of Iran’s nuclear program will be addressed in upcoming negotiations. Trump has long maintained that Iran cannot be in possession of a nuclear weapon and has repeatedly vowed to prevent Tehran from developing, acquiring or obtaining one.
Trump further praised his administration for securing the agreement.
“This Great Deal will bring Peace and Security to the whole Region,” he said. “Many presidents have tried to make Peace with Iran, and all have failed before me. The Leaders of the Region have, for the first time, found a President who can help them achieve real Peace.”
Sharif also thanked the United States and Iran for their “commitment to finding a diplomatic solution to the conflict,” as well as Qatar, Saudi Arabia and Turkey for their contributions to the mediation effort.
With the agreement now in place, mediators are expected to facilitate a series of meetings this week that could lay the groundwork for technical negotiations and the official signing ceremony, Sharif said.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
The peace deal would formally end the high-stakes conflict that began on Feb. 28, which disrupted roughly 20% of global oil shipments that pass through the Strait of Hormuz and contributed to higher energy prices worldwide.
It comes roughly one year after Israel initiated massive strikes on Iran during Operation Rising Lion. The strikes sparked a 12-day conflict between the nations before Trump ordered strikes on a trio of nuclear facilities later that same month.
Fox News’ Ashley J. DiMella and Reuters contributed to this report.
WASHINGTON — President Trump said Sunday that the United States and Iran have reached a framework agreement to end the war in the Middle East, a breakthrough in months of negotiations aimed at ending the conflict.
The deal, described by diplomats as a memorandum of understanding, commits Tehran to forgo the development or acquisition of nuclear weapons in exchange for helping reopen the Strait of Hormuz, and the paced release of its assets frozen overseas, upon the signing of the deal Friday in Switzerland.
Trump said he has also authorized “the immediate removal of the United States Naval blockade” on Iranian imports.
“Ships of the World, start your engines. Let the oil flow!” Trump wrote in a social media post Sunday evening. It was the president’s 80th birthday.
The full details of the agreement have not been released. Many details — including how Tehran would give up, destroy or dilute its fissile material, or whether Iran would continue treating the international strait as its sovereign waters — will continue to be negotiated in the coming days.
Pakistani Prime Minister Shehbaz Sharif said Sunday that mediators are planning to hold a series of meetings this week to “lay the foundation for the technical talks and the official signing ceremony.”
“We would like to thank the United States of America and the Islamic Republic of Iran for their commitment to finding a diplomatic solution to the conflict,” Sharif wrote in a post on X.
The Associated Press reported that negotiations on outstanding issues like Iran’s nuclear program would continue over the next 60 days, according to two senior Pakistani officials who spoke on condition of anonymity.
Vice President JD Vance told Fox News that the White House is “still figuring out the logistics” on whether he or Trump will attend the signing ceremony.
“What we know is that we have a lot of work to do, but a very big win for the American people tonight,” Vance said.”We are just going to keep on working at it, keep on driving energy prices down, keep on ensuring that region of the world is less than a basket case and finally, and most importantly, celebrate, that we can say with confidence Iran will never have a nuclear weapon.”
Iran’s deputy foreign minister, Kazem Gharibabadi, confirmed the agreement on state television but said Iran would not start implementing it until it was signed on Friday. He said the deal followed over 14 hours of talks in Tehran with a representative from Qatar, another mediator.
Iranian state TV showed a banner asserting: “US was forced to sign an agreement to end the war.”
Iran’s commitment to refrain from pursuing nuclear weapons would simply repeat a vow Iran has made several times before, including in its signing of the Nuclear Non-Proliferation Treaty and its nuclear deal brokered with international powers under the Obama administration over 10 years ago.
Iran has 972 pounds of uranium that is enriched up to 60% purity, a short, technical step from weapons-grade levels of 90%, according to the International Atomic Energy Agency. Under the 2015 international agreement with Iran abandoned by the first Trump administration, Iran’s uranium enrichment was capped at less than 4%, monitored by IAEA inspectors.
The vagueness of the new agreement, the demand for further negotiations to flesh out its details, and the pacing of sanctions relief for Iran are all likely to draw criticism of the president, who launched his political career in 2015 by attacking President Obama’s newly signed nuclear deal as a historically bad agreement.
That deal, known as the Joint Comprehensive Plan of Action, followed two years of painstaking negotiations that were predicated on a similar, yet more detailed framework, called the JCPOA.
Defense Secretary Pete Hegseth said in a Sunday morning interview on CBS’ “Face the Nation” that the the difference between the JCPOA and how the Trump administration is handling negotiations is the “threat of military force.”
“The huge difference is we did this from a position of strength,” Hegseth said. “That military might will stay as long as necessary.”
And, as in 2015, Israeli leadership across the political aisle remains deeply skeptical of the agreement, pronouncing they will not be bound by a deal to which they are not a party.
In a phone interview with the New York Times on Sunday afternoon, Trump called Benjamin Netanyahu, the prime minister of Israel, a “very difficult guy.”
“To be honest with you, he should be very thankful to us for doing this. Because if Iran had a nuclear weapon, Israel wouldn’t be around for two hours,” Trump said.
Since the U.S.-Israeli attacks on Iran that started the war Feb. 28, there have been 3,468 confirmed deaths in Iran, according to independent monitors. In addition, 13 U.S. service members have been killed, and the Israeli war with Hezbollah has killed 2,679 in Lebanon as well as 23 Israelis, including eight civilians.
It was back in late May that construction began on the towering, claw-like superstructure that now sits complete on the South Lawn of the White House, ready to stage Ultimate Fighting Championship bouts on Sunday, President Trump’s 80th birthday.
The spectacle is estimated to cost more than $60 million, according to Mark Shapiro, who is the president of U.F.C.’s parent company, TKO Group Holdings. (Mr. Trump purchased between $15,000 and $50,000 worth of stock in TKO weeks ahead of this event at the White House that he has been promoting for months).
Here’s a look at the fighting arena.
The Claw
The Claw is a 600-ton steel arch built in Belgium. Jumbo-sized and star-spangled, with huge television screens hanging from every corner, it coexists strangely with the rest of its environs.
It towers over the old willow oaks and magnolia trees planted long ago by past presidents on the gentle slope of the South Lawn. It towers over the White House itself. Spectators seated in the topmost section on Sunday night will be on eye level with the Truman balcony.
The Octagon
This is the Octagon, the caged ring in which men will beat one another to a pulp.
The cage is an eight-sided feat of marketeering, its every angle prominently displaying the name of some sponsor who’d paid big bucks to have their brands juxtaposed against the ultimate backdrop.
Among them: Live Trade on Polymarket, Bud Light, Pit Boss Grills, Total Wireless, Morgan & Morgan (“Dial #Law”) and Toyo Tires. “Crypto.com” is carved into each metal step leading into the ring.
The Venue
The Claw is not all. That venue can only fit a little more than 4,000 people, so a space for a watch party capable of hosting more than 70,000 people has been set up on The Ellipse, which is the park just south of the White House gates.
Back on the White House lawn, just behind the Claw, there are large tents set up. On Saturday afternoon, the day before the fight, a crew of six motocross riders will be performing stunts on the lawn, including backflips 45 feet in the air.
-
Idaho7 minutes agoEast Idaho braces for first 90-degree day of the season – East Idaho News
-
Kansas9 minutes agoMSHP recover missing Kansas person from Table Rock Lake
-
Illinois10 minutes agoCentral Illinois residents face tough compromises as gas prices pinch budgets
-
Indiana15 minutes ago21-year-old Indiana man shot, killed near Ford City Mall, Chicago officials say
-
Iowa22 minutes agoStaffing new Iowa prisons may be “impossible,” union president warns
-
Kentucky37 minutes agoKentucky Lottery Cash Ball, Pick 3 Evening winning numbers for June 14, 2026
-
Louisiana40 minutes ago
Louisiana Lottery Pick 3, Pick 4 results for June 14, 2026
-
Maine45 minutes agoMaine’s Susan Collins-Graham Platner race expected to draw nearly $400M in ads
