Call him a gold digger.
U.S. Sen. Rand Paul, R-Ky., went to Fort Knox on Monday to inspect the nation’s gold supply as he seeks a full audit of the facility, as the last overviews took place in 1953 and a partial one in 1974.
“I’m at Fort Knox. We’ve come to see the gold. Our country has about 147 million ounces of gold, and about half of it is stored here at Fort Knox,” Paul said.
“We’re going to be going deep underground to see the gold, but more importantly, we’re going to be talking about what happened to the dollar when we separated from gold in 1971. Over 85% of the value of the dollar has been lost since we de-linked from gold.”
“So there is a problem. The media now calls this affordability, but what it really is is inflation.”
“We run a debt. As the deficit runs up – $2 trillion a year – part of that debt is bought by the Federal Reserve with newly created dollars. This leads to inflation, and prices are up,” he noted. “Prices are up 25% in the last five years. It’s inflation. It’s related to deficit spending. It’s related to unbalanced budgets.”
“I’m going underground, and I’ll let you know what I see in a little bit.”
At Fort Knox, we’ve come to see the gold!
Our country has about a hundred and forty-seven million ounces of gold, and about half of it is stored here at Fort Knox.
We’re gonna be going deep underground to see the gold, but more importantly, we’re gonna be talking today about… pic.twitter.com/qNtHkVMQzg
— Senator Rand Paul (@SenRandPaul) August 10, 2026
After emerging to the surface, Paul indicated: “Yes, the gold is there all (approximately) 147 million ounces. It is impressive, but the real point is what it still teaches in 2026.”
He then repeated his lesson, saying: “In 1971 we severed the dollar from gold. Since then the currency has lost roughly 85% of its value. Prices are higher because the money itself is weaker. A family making $50,000 with two kids that has not received a 25% raise in the last five years is falling behind.
“This is now often called ‘affordability,’ but the accurate word is inflation.
“We run annual deficits of $2 trillion dollars. The Federal Reserve buys about a third of that debt by creating new money. Every new dollar dilutes the value of the dollars already in people’s pockets. Gold does not expand when Congress spends. Paper does. That is the difference.”
Yes, the gold is there all (approximately) 147 million ounces. It is impressive, but the real point is what it still teaches in 2026.
In 1971 we severed the dollar from gold. Since then the currency has lost roughly 85% of its value. Prices are higher because the money itself is…
— Senator Rand Paul (@SenRandPaul) August 10, 2026
He added: “The dollar has lost 97% of its purchasing power since the Fed opened in 1913. $100 then is worth just over $3,300 today.
“This is no accident. Congress spends without limit, while the Fed prints the difference.”
I visited Fort Knox today.
The dollar has lost 97% of its purchasing power since the Fed opened in 1913. $100 then is worth just over $3,300 today.
This is no accident. Congress spends without limit, while the Fed prints the difference. https://t.co/TmeJw3ZkJv
— Senator Rand Paul (@SenRandPaul) August 10, 2026
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