\u201cThe gold might be there\u2014but who owns it? That\u2019s the real question,\u201d asks Jp Cortez of the Sound Money Defense League. In today\u2019s interview with Daniela Cambone, Cortez calls for a comprehensive audit of U.S. gold holdings, highlighting the recent reintroduction of the Gold Reserve Transparency Act of 2025 by Rep. Thomas Massie. \u201cAn ounce of gold can change hands a thousand times without moving a single inch,\u201d Cortez explains.<\/p>\n
With Florida recently eliminating its sales tax on gold and silver, and more than 40 other U.S. states partially or fully exempting sales tax on these metals, Cortez views this growing trend of tax exemption as a reaffirmation of \u201cthe constitutional role of gold and silver as real, tangible money in our modern economy.\u201d Watch the interview to learn more about these recent trends and their impact on gold and silver investing. For decades, America\u2019s gold reserves have been shrouded in mystery. Now, with rising inflation, public distrust in fiat currency, and calls for financial transparency reaching a fever pitch, a bold new proposal is making waves in Washington\u2014and across the country.<\/p>\n In a timely and eye-opening interview with Daniela Cambone<\/strong> on The Daniela Cambone Show<\/em>, JP Cortez<\/strong>, policy director for the Sound Money Defense League<\/strong>, breaks down the push for the Gold Reserve Transparency Act of 2025<\/strong>. The goal? A comprehensive audit of the U.S. gold reserves held in Fort Knox and other vaults.<\/p>\n At ITM Trading<\/strong>, we believe in empowering our clients\u2014especially those 50 and older\u2014with real strategies for preserving purchasing power and safeguarding their wealth with gold and silver<\/strong>. The movement described by Cortez reflects everything we stand for: transparency, financial independence, and accountability.<\/p>\n First introduced years ago by Congressman Alex Mooney and now revived by Rep. Thomas Massie<\/strong>, the Gold Reserve Transparency Act is the first serious effort in decades to:<\/p>\n Conduct a full inventory and assay<\/strong> of America\u2019s gold<\/p>\n<\/li>\n Verify its location<\/strong>, quality<\/strong>, and ownership<\/strong><\/p>\n<\/li>\n Determine whether any of it is leased, swapped, or encumbered<\/strong><\/p>\n<\/li>\n<\/ul>\n \u201cAn ounce of gold can change hands a thousand times without moving an inch,\u201d Cortez warned. \u201cThis bill seeks to answer the questions that have never been answered.\u201d<\/p>\n<\/blockquote>\n In other words, the goal isn\u2019t just to confirm that the gold is physically there\u2014it\u2019s to determine who actually owns it<\/strong>.<\/p>\n The timing of this bill is no coincidence. According to Cortez, we\u2019re living through a profound shift in monetary geopolitics:<\/p>\n BRICS nations<\/strong> are moving to reduce reliance on the U.S. dollar<\/p>\n<\/li>\n Countries like Germany<\/strong> are repatriating their gold reserves<\/p>\n<\/li>\n Central banks worldwide are buying gold at record levels<\/strong><\/p>\n<\/li>\n Confidence in U.S. leadership is faltering<\/p>\n<\/li>\n<\/ul>\n Meanwhile, rumors continue to swirl about what lies behind the doors of Fort Knox. And despite vague claims of periodic \u201caudits,\u201d Cortez insists those reviews are inadequate, outdated, and untrustworthy<\/strong>.<\/p>\n \u201cThey\u2019re checking the seals on vaults, not the gold inside,\u201d he explained. \u201cAn audit of a lock isn\u2019t an audit of what\u2019s behind the door.\u201d<\/p>\n<\/blockquote>\n Even if the gold is physically present, Cortez raised a troubling issue: much of it may not be globally tradable<\/strong>.<\/p>\n The U.S. holds massive quantities of so-called \u201ccoin bars\u201d\u201490% purity bars melted down from old gold coins. These do not meet modern market standards<\/strong> and are not considered liquid assets in today\u2019s global financial system.<\/p>\n \u201cWhat good is a gold reserve if it can\u2019t be traded or sold?\u201d Cortez asked. \u201cIt would need to be refined, which takes time and money.\u201d<\/p>\n<\/blockquote>\n That means America\u2019s supposed monetary backstop may not be usable in a crisis\u2014and that reality could shatter already waning confidence in the dollar.<\/p>\n The gold transparency movement isn\u2019t just happening at the federal level.<\/p>\n Cortez also discussed the new law in Florida<\/strong>, signed by Governor Ron DeSantis, that:<\/p>\n Makes gold and silver legal tender<\/strong><\/p>\n<\/li>\n Removes all sales taxes<\/strong> on precious metals<\/p>\n<\/li>\n Allows gold and silver to be used to pay state taxes<\/strong><\/p>\n<\/li>\n Requires coins to be stamped with weight, purity, and mint of origin<\/strong><\/p>\n<\/li>\n<\/ul>\n \u201cTaxes were the biggest impediment to using gold and silver as money,\u201d Cortez said. \u201cThis bill eliminates that friction.\u201d<\/p>\n<\/blockquote>\n Florida joins a growing list of states\u2014including Alabama, Utah, and Oklahoma\u2014that are reaffirming gold and silver\u2019s constitutional role as money<\/strong>. According to Cortez, 46 states now fully or partially exempt precious metals from taxation.<\/p>\n With gold and silver prices<\/strong> on the rise and public interest in sound money surging, Cortez believes the Federal Reserve is entering a legitimacy crisis.<\/p>\n \u201cThey can\u2019t be happy about this,\u201d he said. \u201cThis idea that nations can print their way to prosperity is collapsing.\u201d<\/p>\n<\/blockquote>\n That\u2019s why more Americans are turning to physical gold and silver<\/strong>\u2014assets that can\u2019t be created out of thin air, inflated away, or digitally frozen. As David Morgan<\/strong> has long warned, gold is the insurance policy when everything else fails<\/strong>.<\/p>\n If the Gold Reserve Transparency Act passes, it would force open the vault doors\u2014figuratively and literally\u2014and expose any potential mismanagement of the nation\u2019s most important monetary asset.<\/p>\n But Cortez emphasized that grassroots action is critical:<\/p>\n \u201cCongress won\u2019t act unless voters speak up. The public has to demand an audit\u2014and demand sound money.\u201d<\/p>\n<\/blockquote>\n At ITM Trading<\/strong>, we agree. That\u2019s why we provide our clients with the tools and education they need to take control of their financial future\u2014starting with physical precious metals<\/strong>.<\/p>\n JP Cortez’s message is clear: The time for blind trust is over<\/strong>. Americans deserve to know the truth about their gold. And they deserve the opportunity to opt out of a broken financial system by owning assets that are real, reliable, and rooted in history.<\/p>\n At ITM Trading<\/strong>, we help clients:<\/p>\n Secure physical gold and silver<\/strong>\u2014not paper promises<\/p>\n<\/li>\n Build inflation-resistant portfolios<\/strong><\/p>\n<\/li>\n Reclaim financial privacy and control<\/p>\n<\/li>\n<\/ul>\n
\nWhat\u2019s Really Behind the Fort Knox Gold Audit Push? JP Cortez Explains the Fight for Sound Money
Featuring JP Cortez on The Daniela Cambone Show \u2013 Presented by ITM Trading<\/em><\/p>\n
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\nWhat the Gold Reserve Transparency Act Aims to Do<\/h3>\n
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\nWhy Now?<\/h3>\n
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\nIs the Gold Even Liquid?<\/h3>\n
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\nFlorida Takes Bold Action: Legal Tender Gold and Silver<\/h3>\n
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\nWhy the Fed Should Be Nervous<\/h3>\n
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\nThe Call to Action: Demand Accountability<\/h3>\n
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\nFinal Thoughts and Call to Action<\/h3>\n
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