Does the United States Government Need a Gold Reserve? No.
Rand Paul, Elon Musk, and several others, have recently called for an audit of the US government’s gold holdings. This has reminded many Americans that the US government owns a hoard of gold—of 261 million ounces—at Fort Knox and other places. On the other hand, the debate over the audit will be something new altogether for some who have never given much thought at all to the fact that the federal government owns approximately $750 billion in gold.