Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Ubisoft Adds AI Agents to ‘Captain Laserhawk’ Game That Vote and Govern

01/07/2025

Legendary Whale James Wynn Predicts What Will Happen in 48 Hours! Announces His New Moves in Bitcoin (BTC) and Altcoin Positions!

01/07/2025

Here is the Number of Shiba Inu Addresses Holding Trillions Of SHIB for More Than a Year

01/07/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    VanEck warns of brief but critical ‘uncertainty window’ for Bitcoin to adapt to quantum threat

    01/07/2025

    Can U.S. Buy More Bitcoin? Here’s What David Sacks Revealed

    01/07/2025

    Why Bitcoin’s next short-term target is $120,000

    01/07/2025

    U.S. politician makes super suspicious Bitcoin trade

    01/07/2025

    Ethereum (ETH) Price Prediction For June 25

    30/06/2025

    Ethereum Network Activity Tanks as Investors Flee Risk—Will the Price Follow?

    29/06/2025

    Ethereum Developer Proposes 6-Second Block Times to Boost Speed, Slash Fees

    29/06/2025

    Abraxas Capital’s Monumental $28M Ethereum Deposit Rocks the Crypto Market

    29/06/2025

    Here is the Number of Shiba Inu Addresses Holding Trillions Of SHIB for More Than a Year

    01/07/2025

    Shiba Inu Team Issues Major Shibarium Update

    01/07/2025

    Solana Accelerate Day 1: Time to challenge assumptions

    01/07/2025

    XRP Targets $3 Following Major Developments

    01/07/2025

    Ubisoft Adds AI Agents to ‘Captain Laserhawk’ Game That Vote and Govern

    01/07/2025

    Donald Trump Made His New Move Concerning Memecoin TRUMP!

    01/07/2025

    Hela Labs Partners Arcane Vault to Redefine Multi-Chain NFT Network

    30/06/2025

    CryptoPunk and Azuki Lead Pack of Top NFT Sales in June 2025

    30/06/2025

    Ubisoft Adds AI Agents to ‘Captain Laserhawk’ Game That Vote and Govern

    01/07/2025

    Legendary Whale James Wynn Predicts What Will Happen in 48 Hours! Announces His New Moves in Bitcoin (BTC) and Altcoin Positions!

    01/07/2025

    Here is the Number of Shiba Inu Addresses Holding Trillions Of SHIB for More Than a Year

    01/07/2025

    Robinhood Launches Tokenized Stock and Perpetual Futures Trading in Europe

    01/07/2025
  • Blockchain

    WachXBT Hits Virtuals Protocol with Real-Time Agent Security

    30/06/2025

    HashKey Chain, GF Securities Hong Kongroll out end-to-end tokenized security

    30/06/2025

    BNB Chain Leads in Stablecoin Activity with Gas Free Transfers Extended

    30/06/2025

    Circle Brings CCTP V2 to Unichain with Instant USDC Moves

    30/06/2025

    Autonomys Taps GG3’s AI Layer to Transform AI & Web3 Communities

    30/06/2025
  • DeFi

    Maple Finance, EtherFi Introduce ETH Restaking for Institutional Lending

    01/07/2025

    Buybacks are the ultimate proof-of-resilience in DeFi

    30/06/2025

    Aave DAO Unanimously Approves Phase 3 of Chainlink SVR Expansion on Ethereum

    30/06/2025

    Core DAO Unveils Ambitious H2 2025 Roadmap

    30/06/2025

    Chainlink Ranked #1 in DeFi for Development Momentum

    29/06/2025
  • Metaverse

    Mark Zuckerberg Unveils New Meta AI Lab After Poaching OpenAI Talent

    01/07/2025

    Can China’s MiniMax-M1 AI Topple US Rivals? We Put It to the Test

    28/06/2025

    Meta and OpenAI Use of Copyrighted Books for Training AI Was Fair Use: Federal Judge

    26/06/2025

    How to Get Your Chatbot to Talk Dirty

    18/06/2025

    Meta Invests $14 Billion in Scale AI to ‘Deepen’ its Work on Superintelligence

    13/06/2025
  • Regulation

    Legendary Whale James Wynn Predicts What Will Happen in 48 Hours! Announces His New Moves in Bitcoin (BTC) and Altcoin Positions!

    01/07/2025

    Stablecoin Clearing Startup Ubyx Raises $10M Round Backed by Galaxy, Coinbase, Others

    01/07/2025

    Why Doesn’t the FED Cut Interest Rates? What to Expect Tomorrow? Analysts Explained! “There’s Only One Reason for This!”

    01/07/2025

    Institutional Investors Ready to Buy Crypto ETPs ‘In a Matter of Weeks’ as UK FCA Approval Looms: WisdomTree

    01/07/2025

    MetaPlanet has outperformed MicroStrategy by 317% this year

    01/07/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Robinhood Launches Tokenized Stock and Perpetual Futures Trading in Europe

    01/07/2025

    Barclays Joins List of UK Banks Restricting Credit Card Crypto Buys

    01/07/2025

    Robinhood Shares Hit All-Time High as Firm Unveils Tokenized Stocks, Ethereum L2

    01/07/2025

    Germany’s Largest Banking Group Takes Historic Step into Cryptocurrency

    01/07/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    MattleFun Integrates Adventure Layer’s Gaming L2 Solution to Power Advanced Web3 Gaming Experience

    01/07/2025

    What’s Next for ‘MapleStory Universe’? More Ways to Play

    01/07/2025

    The Biggest Games Releasing in July 2025

    29/06/2025

    The Lords of Light’ Shutting Down, ‘Eve Frontier’ Trial

    29/06/2025

    Donald Trump Won’t Stop! Trump-Linked Company Makes Another Bitcoin (BTC) Move!

    01/07/2025

    Bitcoin Mining Companies’ Revenues Are Falling, But They’re Not Selling – What Does This Mean Historically?

    30/06/2025

    Why Did Bitcoin Hashrate Plummet After the U.S. Attacked Iran’s Nuclear Facility? Was Iran Mining Bitcoin? Here Are Estimates of Its Bitcoin Holdings

    29/06/2025

    Cango Finalizes 18 EH/s Mining Acquisition, Surpasses 50 EH/s as Antalpha Ties Deepen

    29/06/2025

    US academic institutions urge SEC to implement stringent crypto staking rules, oversight

    30/06/2025

    Majority Whip Tom Emmer says House will vote on GENIUS stablecoin bill if paired with CLARITY Act

    30/06/2025

    Lost in Translation – A Look at Who Is Really Building a Korean Stablecoin

    30/06/2025

    House clears HB 1664, setting Commerce Department as lead federal blockchain coordinator

    30/06/2025

    Ubisoft Adds AI Agents to ‘Captain Laserhawk’ Game That Vote and Govern

    01/07/2025

    Legendary Whale James Wynn Predicts What Will Happen in 48 Hours! Announces His New Moves in Bitcoin (BTC) and Altcoin Positions!

    01/07/2025

    Here is the Number of Shiba Inu Addresses Holding Trillions Of SHIB for More Than a Year

    01/07/2025

    Robinhood Launches Tokenized Stock and Perpetual Futures Trading in Europe

    01/07/2025
  • MarketCap
NBTC News
Home»Regulation»US Congressmen introduce a bill to initiate the first comprehensive audit of America’s gold reserves
Regulation

US Congressmen introduce a bill to initiate the first comprehensive audit of America’s gold reserves

NBTCBy NBTC14/06/2025No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Today, four members of Congress, led by Thomas Massie, have introduced a bill to initiate the first comprehensive audit of America’s gold reserves. The Gold Reserve Transparency Act (H.R. 3795) requires a full assay, inventory, and audit of all United States gold holdings for decades.

The four congress members are Reps. Thomas Massie, Troy Nehls, Addison McDowell, and Warren Davidson. According to Thomas Massie, “Americans deserve transparency and accountability from the institutions that underpin our currency.”

H.R. 3795 will also require a full accounting of all purchases, sales, loans, pledges, leases, swaps, and other encumbrances of America’s gold that happened more than 50 years ago. These kinds of actions have not been made public.

The public feud between US President Donald Trump and the world’s richest man, Elon Musk, raised questions about the future of the Department of Government Efficiency (DOGE) and its promise to examine America’s gold holdings in Fort Knox. However, DOGE’s work still continues without Musk.

Gold audit to give a better outlook of the US economy

It’s been decades since real inventories and assays of US gold stocks were done. Also, the Department of the Treasury has lost records and can’t explain why vault compartments were opened and closed again without new audits.

Stefan Gleason, CEO of Money Metals Depository, said, “The lack of proper audits of America’s gold is highly alarming and totally unacceptable – such shoddy procedures would never pass muster in the private sector […] Even if a credible audit had been conducted several decades ago, auditing is never a ‘one and done’ affair.”

The Gold Reserve Transparency Act, the Government Accountability Office, and outside independent inspectors will be able to see any depository or other public or private depositories where gold reserves are kept, along with the records that go with them. It could take up to a year to finish the process, which will happen again every five years.

Also, more than ever, it is important to look into America’s safe money stash. This is because of rising inflation where $37 trillion in US federal debt looms large and because many central banks have been buying gold at record rates over the last few years. The audit will give a better outlook of the US economy.

Will Germany change its mind on moving its gold from the US?

The bill is expected to help restore confidence in the US dollar at a time when countries and central banks worldwide are reducing their USD exposure and actively moving their gold from the United States.

As reported by Cryptopolitan, leaders in Germany are calling for the repatriation of their gold held in the custody of the Federal Reserve Bank of New York.

Germany has 1,120 tonnes of gold, representing about one-third of its 3,352-tonne national reserve currently in US custody. The German Taxpayers Federation, Bund der Steuerzahler, issued formal letters to both the Bundesbank and the Finance Ministry, urging the immediate return of the gold stored in New York.

Jp Cortez, executive director of the Sound Money Defense League, said, “Now is the time for transparency surrounding America’s gold. As gold is the ultimate form of money recognized the world over, safeguarding the US Treasury Department’s holdings of the yellow metal is very much a national security issue.”

However, transparency is not the only reason. German says that the US is no longer the reliable partner it used to be. According to them, Trump is erratic, and one cannot rule out that someday he will come up with creative ideas on how to treat foreign gold reserves, especially because he wants to control the FED.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Legendary Whale James Wynn Predicts What Will Happen in 48 Hours! Announces His New Moves in Bitcoin (BTC) and Altcoin Positions!

01/07/2025

Stablecoin Clearing Startup Ubyx Raises $10M Round Backed by Galaxy, Coinbase, Others

01/07/2025

Why Doesn’t the FED Cut Interest Rates? What to Expect Tomorrow? Analysts Explained! “There’s Only One Reason for This!”

01/07/2025

Institutional Investors Ready to Buy Crypto ETPs ‘In a Matter of Weeks’ as UK FCA Approval Looms: WisdomTree

01/07/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Ubisoft Adds AI Agents to ‘Captain Laserhawk’ Game That Vote and Govern

01/07/2025

Legendary Whale James Wynn Predicts What Will Happen in 48 Hours! Announces His New Moves in Bitcoin (BTC) and Altcoin Positions!

01/07/2025

Here is the Number of Shiba Inu Addresses Holding Trillions Of SHIB for More Than a Year

01/07/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.