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United States Bullion Depository Or Fort Knox
by richardsuzan
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Jun 04, 2010 | 4499 views | 0 0 comments | 33 33 recommendations | email to a friend | print | permalink

The United States Bullion section is a fortified vault built near the ancient Fort Knox in Kentucky. The leap is used to store most part of the United States gold reserves and sometimes other valuable items for the federal government. Fort Knox is the second U.S vault, the first vault is the underground vault of the Federal Reserve Bank in New York. Fort Knox holds about 4.603 tons of gold bullion.It was built because of lack of depository space for the gold that was no longer into motion due to the laws of the New Deal in 1933. At that point of time, in the US it became illegal to own other forms of gold except wedding rings of coin collections. Everybody that owned gold was forced by the law to sell their gold to the government at the fixed rate of 20.67 dollars per ounce.

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