I 

117TH CONGRESS 

1ST SESSION H. R. 3526 

To provide for the first true audit of gold owned by the United States 

in more than 65 years, and subsequent audits every 5 years. 

IN THE HOUSE OF REPRESENTATIVES 

MAY 25, 2021 

Mr. MOONEY introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL 

To provide for the first true audit of gold owned by the 

United States in more than 65 years, and subsequent 

audits every 5 years. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Gold Reserve Trans5 parency Act of 2021’’. 

6 SEC. 2. ASSAY, INVENTORY, AND AUDIT OF GOLD RE7 SERVES. 

8 (a) GAO ASSAY, INVENTORY, AND AUDIT.—The 

9 Comptroller General of the United States shall conduct 


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1 and complete, not later than nine months after the date 

2 of enactment of this Act, and every 5 years thereafter— 

3 (1) a full assay, inventory, and audit of all gold 

4 reserves, including any gold in ‘‘deep storage’’, of 

5 the United States at the place or places where such 

6 reserves are kept; 

7 (2) an analysis of the sufficiency of the meas8 ures taken to ensure the physical security of such re9 serves; 

10 (3) a full accounting of any and all encum11 brances, including those due to lease, swap, or simi12 lar transactions presently in existence or entered 

13 into at any time during the past 15 years with re14 spect to the gold reserves; 

15 (4) a full accounting of any and all sales, pur16 chases, disbursements, or receipts at any time dur17 ing the past 15 years—whether directly or indirectly 

18 undertaken—with respect to the gold reserves, in19 cluding the specific terms and parties involved in 

20 such transactions; and 

21 (5) a full accounting of all gold in which the 

22 U.S. Government (including the Board of Governors 

23 of the Federal Reserve System or any other Federal 

24 agency) presently has a direct or indirect interest, 

25 including gold that may be held by third parties, inVerDate Sep 11 2014 22:39 Jun 23, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H3526.IH H3526

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1 cluding, for example, the Bank for International Set2 tlements, the International Monetary Fund, the Ex3 change Stabilization Fund, any foreign central bank, 

4 or any other party, public or private. 

5 (b) REPORTS.—Not later than 3 months after the 

6 completion of each assay, inventory, and audit required 

7 under subsection (a), the Comptroller General shall issue 

8 a report to the Congress containing all results, findings, 

9 and determinations made in carrying out the assay, inven10 tory, audit, analysis, and accounting and shall promptly 

11 make such report (together with copies of all source mate12 rials relied upon) available to the public on the internet. 

13 No redactions shall be permitted except with respect to 

14 underlying details contained in the analysis completed 

15 under subsection (a)(2) above dealing only with physical 

16 security. 

17 (c) GAO ACCESS.—For purposes of carrying out this 

18 Act, the Comptroller General shall have full access (en19 forceable by subpoena authority) to any depository or 

20 other public or private facility where such reserves are 

21 kept or where any records are kept that are necessary to 

22 carry out this Act. 

23 (d) INFORMATION MADE AVAILABLE BY TREAS24 URY.—The Secretary of the Treasury (and all other Fed25 eral agencies, including the Board of Governors of the 


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1 Federal Reserve System) shall make available, without any 

2 redactions, to the Comptroller General, for purposes of 

3 carrying out this Act, all books, accounts, records, reports, 

4 files, correspondence, memoranda, papers, or any other 

5 document, tape, or written, audio, or digital record per6 taining to the assay, inventory, audit, analysis, and ac7 counting required under subsection (a), as determined by 

8 the Comptroller General. 

Æ 


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