By Charles Switzer
2:27pm PST, Feb 20, 2025
Trump and Musk's Fort Knox Investigation Sparks Laughter
President
Donald Trump's latest eyebrow-raising claim — that the gold reserves in Fort Knox might have been stolen — became the subject of amusement on CNBC after he suggested
Elon Musk would personally inspect the vaults.
Speaking aboard Air Force One, Trump told reporters, "We're going to go into Fort Knox to make sure the gold is still there. You know that?"
The comment quickly became a point of debate, with CNBC anchors chuckling over the idea that the U.S. Treasury's gold stockpile might not be as secure as assumed.
Here's everything to know.
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Steve Mnuchin Addresses Gold Security
Former Treasury Secretary
Steven Mnuchin, who actually visited Fort Knox in 2017 during the president's first administration, was questioned about Trump's concerns by
David Faber on CNBC's
Squawk on the Street. When asked whether the gold was still there, Mnuchin responded confidently, "The gold was there when I visited, and I hope nobody's moved it. I'm sure they haven't."
He explained that he was the first treasury secretary in over 50 years to inspect the site, adding that strict security protocols are in place to protect the reserves. Despite Trump's speculation, Mnuchin reassured viewers that any concerns over missing gold were unfounded.
CNBC Anchors Mock Trump's Obsession with Gold
The CNBC panel couldn't help but laugh at the absurdity of the situation when questioning Mnuchin.
"And finally, there's been a lot of conversation recently about whether there's the gold that we think there is in Fort Knox when we were sitting down here. You reminded me you actually have a very specific personal experience. And tell us, is the gold at Fort Knox?" Faber asked.
"The gold was there when I visited and I hope nobody's moved it. I'm sure they haven't," the former Treasury Secretary replied. "I was the first treasury secretary to go there in I think over 50 years, there's very serious security protocols in place, obviously, to protect the gold that I can't talk about. But we went we saw it, and I–, if President Trump wants it to be audited, that's obviously something that can be done."
'The Gold Is There!'
Faber then inquired more, asking: "You said you were the first treasury secretary to visit in 50 years. Why did you actually go see the gold?"
Mnuchin replied, "We thought the gold stands for the U.S.–, although it's not backing the U.S. currency. It's obviously a major asset in the Treasury. And we thought it was something important to do."
Faber then joked, "Steven Mnuchin, former Treasury secretary. Guys, the gold is there! It's at Fort Knox! At least it was when he visited."
