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.
WASHINGTON — The United States has launched a new military operation to ensure commercial shipping vessels can safely pass through the Strait of Hormuz, deploying scores of warships, fighter jets and drones to counter Iranian efforts that have threatened the narrow waterway that carries a fifth of the world’s oil.
At a news conference Tuesday at the Pentagon, Defense Secretary Pete Hegseth said the new initiative — dubbed “Project Freedom” — is a temporary and defensive operation meant to resume the flow of traffic through the international waterway as hostilities have continued in the region.
“We are not looking for a fight, but Iran cannot be allowed to block innocent countries and their goods from an international waterway,” Hegseth said, while calling Iran’s tactics “international extortion.”
The operation comes nearly a month after the United States reached a fragile ceasefire deal with Iran, a truce that Hegseth said remains in effect even though Tehran has continued to attack U.S. forces and commercial vessels.
“The ceasefire is not over,” Hegseth said.
Gen. Dan Caine, the chairman of the Joint Chiefs of Staff, said that since the ceasefire took effect, Iran has fired at commercial vessels nine times, seized two container ships and attacked U.S. forces more than 10 times. All of these instances, he said, are “below the threshold of restarting major combat operations at this point.”
Those attacks have left more than 1,550 vessels trapped in the Arabian Gulf, unable to transit, disrupting global trade and pushing energy markets toward crisis, with fuel prices climbing and shipping costs surging.
The new U.S. mission was cast as separate from the broader military campaign over Iran’s nuclear weapons program. As negotiations to denuclearize Iran continue, Caine said commercial vessels wanting to cross the strait will now “see, hear and frankly feel the U.S. combat power around them, on the sea, in the skies and on the radio.”
Two U.S. commercial vessels, escorted by Navy destroyers, have already moved through the Strait, Hegseth said.
“We know the Iranians are embarrassed by this fact,” Hegseth said. “They said they control the strait, they do not.”
Hegseth called the operation a “direct gift from the United States to the world,” aimed at resuming traffic through one of the world’s most vital waterways.
“To what remains of Iran’s forces: if you attack American troops or innocent commercial shipping, you will face overwhelming and devastating American firepower,” Hegseth said. “The president has been very clear about this.”
On Tuesday evening local time, the UAE’s defense ministry said in a statement on X that the country’s defensive systems “are actively engaging with missiles and UAV threats and that “sounds heard across the across the country are the result of ongoing engaging operations.”
Tuesday’s barrage marks the second consecutive day of attacks targeting the UAE since the U.S.-Iran ceasefire took hold on April 8. On Monday, the UAE said it engaged a total of 12 ballistic missiles, three cruise missiles and four drones launched from Iran.
For its part, Iran said it had no “pre-planned program” to attack the UAE’s oil facilities, but that attacks were prompted by the United States’ plans to reopen the Strait of Hormuz, according to an unnamed military official quoted by Iranian State TV.
“What happened was the product of the U.S. military’s adventurism to create a passage for ships to illegally pass through” the Strait, the official said, adding the U.S. military “must be held accountable for it.”
Ceballos reported from Washington, Bulos from Beirut.
The Secret Service shot and wounded an armed man on Monday afternoon just south of the White House in a burst of gunfire that also grazed a young bystander in an area packed with pedestrians, officials said.
There was no indication that the man, who was taken to a hospital with multiple gunshot wounds, was targeting anyone in the executive complex, Chris McDonald, a congressional affairs official with the Secret Service, wrote in an email to Congress after the episode.
“President Trump was not in any danger, and there is currently no known nexus between the incident and the White House,” Mr. McDonald wrote.
A motorcade with Vice President JD Vance had passed through the area — a heavily trafficked route for official vehicles, as well as people visiting the nearby Washington Monument — shortly before the confrontation took place, officials told reporters.
The condition of the armed man, who was not identified, is not known. A firearm was recovered at the scene. A 15-year-old boy who was shot was being treated for a non-life-threatening gunshot wound, officials said. Matt Quinn, the deputy director of the Secret Service, told reporters that investigators think the boy was shot by the gunman, but he later appeared to hedge his earlier statement when asked again.
“We’ll let the doctors figure that out,” Mr. Quinn said during a news conference near the scene.
No law enforcement officials were injured.
The episode began around 3:30 p.m. near the intersection of 15th Street Southwest and Independence Avenue, when agents walked up to a man “who appeared to be carrying a weapon,” Mr. McDonald wrote.
As they approached, he ran off and shot at them, Mr. Quinn told reporters.
The agents fired back and then apprehended the man, he said.
The shooting took place a little more than a week after a gunman stormed a security checkpoint at the White House Correspondents’ Association dinner and shot a Secret Service agent in an attack that officials said was targeting administration officials.
On Monday, President Trump was holding an event at the White House around the time of the shooting. The Secret Service ordered reporters who were on the North Lawn of the White House to go into the press briefing room.
The police blocked off a wide stretch of streets east of the Washington Monument until the start of the evening rush hour, frustrating drivers who use the major highway bridges connecting the District of Columbia and Northern Virginia over the Potomac River.
The Metropolitan Police Department had said in a social media post that its officers were on the scene and that roads in the area would be closed for several hours. The police department is further investigating, Mr. Quinn told reporters.
Dozens of law enforcement officials, as well as a substantial contingent of National Guard members in green uniforms, flooded the area after the shooting, snarling traffic and confusing tourists on a postcard-perfect spring day.
Hundreds of members of the National Guard remain stationed in Washington even after the Trump administration withdrew many of them last year. They were deployed in August following Mr. Trump’s takeover of Washington’s police department.
Politics
Civil rights groups file lawsuit seeking to block Texas law allowing cops to arrest illegal migrants
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A coalition of civil rights groups filed a new lawsuit on Monday seeking to halt parts of a Texas law that would allow police officers in the Lone Star State to arrest migrants suspected of crossing into the U.S. across the U.S.-Mexico border illegally.
The law is set to take effect next week after a federal appeals court vacated a lower court ruling last week that had prevented its enforcement since 2024. In that ruling, he appeals court vacated an injunction that had blocked the law, finding that the plaintiffs did not have standing to sue.
Senate Bill 4 established a state-level crime for entering the country illegally and authorized state magistrates to order certain individuals to leave the country if they are convicted.
Courts have long maintained that immigration enforcement has historically been treated as the responsibility of the federal government, but Texas Republicans attempted to challenge that precedent when they approved S.B. 4.
TEXAS BILL REQUIRING SHERIFFS TO COLLABORATE WITH ICE GIVEN INITIAL APPROVAL BY STATE HOUSE
Civil rights groups filed a new lawsuit to halt parts of a Texas law that would allow police officers to arrest migrants suspected of crossing into the U.S. illegally. (David Peinado/Anadolu via Getty Images)
The Texas Civil Rights Project, American Civil Liberties Union and ACLU of Texas argued that the law is unconstitutional, noting that immigration law is exclusively the responsibility of the federal government and that federal law should preempt the state law.
The groups are attempting to block four provisions of S.B. 4 — the creation of a crime for re-entering the country illegally, even if a person has since obtained legal status such as a green card; granting state magistrates authority to issue deportation orders; the creation of a crime for failing to comply with a magistrate’s deportation orders; and the requirement that magistrates continue a prosecution even if a person has a pending immigration case under federal law, such as an asylum claim.
“Our fight against S.B. 4 isn’t over until justice wins,” Kate Gibson Kumar, an attorney at the Texas Civil Rights Project, said in a statement. “S.B. 4 is not only unconstitutional, but a vile law that uses our Texas resources to harm communities across our state. The Texas Civil Rights Project will keep fighting to protect Texas communities from the wrath of S.B. 4.”
Cody Wofsy, deputy director of the ACLU’s Immigrants’ Rights Project, argued that S.B. 4 is “cruel and illegal,” adding that the groups “will keep fighting it until it is permanently struck down.”
The Texas Civil Rights Project, American Civil Liberties Union and ACLU of Texas argued that the law is unconstitutional. (Getty Images)
“Every court to have reached the merits of laws like S.B. 4 has found them to be unconstitutional,” he said.
Texas Attorney General Ken Paxton’s office did not immediately respond to Fox News Digital’s request for comment.
The law is scheduled to go into effect on May 15 unless another court takes action.
“S.B. 4 would transform our police and judges into immigration agents — threatening neighbors who have families here, who have lived here for years, even those who have legal status,” said Adriana Piñon, legal director at the ACLU of Texas. “Immigration enforcement is exclusively the federal government’s arena, and no state has ever claimed the power Texas threatens to wield here. We are taking this back to court to defend our Texas communities.”
TRUMP DOJ DROPS BIDEN-ERA CHALLENGE TO TEXAS BORDER SECURITY LAW
Courts have long maintained that immigration enforcement is the sole responsibility of the federal government. (Chip Somodevilla/Getty Images)
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Monday’s lawsuit is the latest legal challenge to the Texas law, which was passed by state lawmakers amid an uptick in migrant crossings at the U.S.-Mexico border during the Biden administration.
Another lawsuit had been led by some of the same advocacy groups that filed Monday’s challenge. The Biden administration also initially sought to halt the law in 2024 before the Trump administration terminated the Department of Justice’s involvement in the lawsuit last year as part of the president’s mass deportation agenda.
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