The United States Bullion Depository at Fort Knox, Kentucky, received its first gold shipments in 1937. The expression “all the gold in Fort Knox” (meaning riches worth an immense sum) was cited in print by at least November 1940.
The amount of gold in Fort Knox—and who owns that gold—has been in dispute since at least the 1980s. A 2009 blog post on Daily Paul was “No Gold In Fort Knox!: In Case You Thought We Had Gold Reserves.” The expression “all the gold in Fort Knox” is now used with irony by some to indicate the bankrupt state of the United States economy.
Wikipedia: United States Bullion Depository
The United States Bullion Depository, often known as Fort Knox, is a fortified vault building located adjacent to Fort Knox, Kentucky, used to store a large portion of United States official gold reserves and occasionally other precious items belonging or entrusted to the federal government.
The United States Bullion Depository holds 4,578 metric tons (5,046.3 short tons) of gold bullion (147.2 million oz. troy). This is roughly 3 percent of all the gold ever refined throughout human history. Even so, the depository is second in the United States to the Federal Reserve Bank of New York’s underground vault in Manhattan, which holds 7,000 metric tons (7,716 tons) of gold bullion (225.1 million oz. troy), some of it in trust for foreign nations, central banks and official international organizations.
In 1936, the U.S. Treasury Department began construction of the United States Bullion Depository at Fort Knox, Kentucky, on land transferred from the military. The Gold Vault was completed in December 1936 for US $560,000, or $8.5 million in 2009 dollars. The site is located on what is now Bullion Boulevard at the intersection of Gold Vault Road.
The first gold shipments were made from January to July 1937. The majority of the United States’ gold reserves were gradually shipped to the site, including old bullion and newly made bars made from melted gold coins
15 November 1940, Greensboro (NC) Daily News, “U.S. Will Enter Europe’s War By April, Super Says,” pg. 23, col. 1:
America’s part in the rebuilding, he said, will be so great that “all the gold in Fort Knox will be used in the reconstruction of Europe.”
Anything Can Happen
By Edward Newhouse
New York, NY: Harcourt, Brace and Co.
... give her or you or Florence for all the gold in Fort Knox with a couple of philosopher’s stones thrown in.
25 February 1942, Zanesville (OH)
That tradition Is worth more than all the gold In Fort Knox.
The house that Jacob Built
By John Gould
New York, NY: W. Morrow
At the fair they load a stone drag, and the yoke that can pull it the greatest distance in a given time gets a blue ribbon which is attached at once to the horns of the nigh ox and is more highly regarded by both ox and driver than all the gold in Fort Knox.
Danger from Deer
Garden CIty, NY: Doubleday
No, we wouldn’t do it, not for all the gold in Fort Knox; we wouldn’t do it if we were told that we are beasts of prey by nature who have to see blood every so often on account of the vile residue of cannibalism in us.
By Joachim Joesten
New York, NY: D. McKay Co.
“All the gold in Peru,” nowadays, is hardly an inspiring thought. If linguistic habit weren’t so hard to change, a phrase referring to all the gold in Fort Knox, or all the gold in Siberia, would be more appropriate.
Modern Proverbs and Proverbial Sayings
By Bartlett Jere Whiting
Cambridge, MA: Harvard University Press
1960 NFitzgerald Ghost(L) 123: I wouldn’t go up for all the gold in Fort Knox.
No Gold In Fort Knox!: In Case You Thought We Had Gold Reserves
Submitted by SteveMT on Mon, 02/09/2009 - 01:37
Daily Paul Liberty Forum
Does this mean-----
Submitted by E. Oregon 4 Ron on Mon, 02/09/2009 - 14:05.
I have to quit saying “I wouldn’t do ‘this or that’ for all the gold in Fort Knox!”??!
January 12, 2013
Conspiracy Theories About Your Money
All The Gold In Fort Knox
How many times have we heard the phrase “all the gold in Fort Knox”? While the adage about the United States Bullion Depository is probably true, there are some who think that Ft. Knox might actually be empty. Though it is widely believed that Knox holds about 3% of every refined piece of gold to have ever been made, there has not been a comprehensive audit of the facility’s wealth since 1953. So, no one really knows if all the shiny bars in there are real gold or just lead and paint.
New York City • Banking/Finance/Insurance • Saturday, January 19, 2013 • Permalink