AXMIN Inc (TSXV: AXM)
AXMIN Inc. (TSXV:AXM) is a Canadian-based exploration and development company with a strong focus on central and West Africa.
Elon Musk, head of the Department of Government Efficiency (DOGE), recently hinted on the social platform X that he may soon conduct a comprehensive audit of the gold reserves at Fort Knox in Kentucky, a site renowned for holding the largest amount of U.S. gold bars. Official figures show that the base stores approximately 147 million troy ounces of gold, representing nearly half of the U.S. Treasury’s total gold holdings, with an estimated value of about US$426 billion.
On Saturday (February 15), when a user on X mentioned how “great” it would be if Musk could confirm that 4,580 metric tons of gold are really in Fort Knox, Musk responded, “Surely it’s reviewed at least every year?” That question triggered support from Senator Rand Paul (R-Ky.), who has repeatedly called for greater transparency regarding Fort Knox gold. “Nope. Let’s do it,” Paul replied in the thread.
Another senator who has tried multiple times to visit Fort Knox, Mike Lee (R-Utah), shares the same stance.
Musk went on to ask, “Who is confirming that gold wasn’t stolen from Fort Knox? Maybe it’s there, maybe it’s not. That gold is owned by the American public! We want to know if it’s still there,” further hinting that DOGE could oversee the audit.
In reality, the most recent instance of officials being allowed to enter and view the vault’s gold dates back to 1974, and that was only a partial viewing; the last widely recognized full audit occurred in 1953. For decades, the base has maintained strict security protocols and has not been open to the public.
During that time, the U.S. has remained the world’s top gold-holding nation, with a total of more than 8,100 metric tons, as per the World Gold Council. Yet as international markets renew their focus on genuine production volumes, secure storage, and the authenticity of gold reserves, calls for an independent third-party audit of Fort Knox have intensified. Analysts warn that if the actual amount of gold does not match official reports, the global gold market could experience significant disruption.
It is currently unclear whether Musk and his DOGE initiative can officially launch this audit, but public scrutiny of a vault that “hasn’t been fully inspected since the 1950s” is growing. Some financial experts note that regardless of whether an audit takes place, the debate is set to spark a new round of discussion on transparency in U.S. gold reserves, further putting the role of gold in today’s financial system to the test.
