‘Something Fishy’ At Fort Knox: Giustra on The US Audit & Hidden Gold Flows

Is the paper gold market finally breaking? Frank Giustra, CEO of the Fiore Group, joins Anchor Jeremy Szafron to break down the recent market volatility, calling the flash crash a calculated "take down" and a "liquidity event." Giustra argues that after 50 years of dominance, the paper market is "losing its efficacy" as pricing power shifts to physical delivery in Asia.In this deep dive, Giustra warns that the US is living on "borrowed time" as the national debt spirals, predicting that the "end of the time of fiat" is inevitable. He analyzes the White House's new "Project Vault," declares that "globalization is as dead as the dodo bird," and questions the "mystery" of Fort Knox—asking why the US refuses to audit its reserves while China covertly accumulates bullion. Plus, Giustra issues a stark warning on Bitcoin, stating it is "running out of buyers" and facing a "great unraveling."Recorded on February 3, 2026Follow Jeremy Szafron on X: @JeremySzafron (https://twitter.com/JeremySzafron)Follow Kitco News on X: @KitcoNewsNOW (https://twitter.com/kitconewsnow)Follow Frank Giustra on X: @Frank_Giustra (https://twitter.com/Frank_Giustra)Timestamps: 00:00 Introduction and Market Overview 01:23 Flash Crash Analysis: Was it a "Take Down"? 03:57 Paper Gold vs. Physical Gold: The Shift in Power 07:03 Government Initiatives: Project Vault & Global Competition 12:15 US Debt: Living on "Borrowed Time" 18:02 Global Gold Accumulation: Who is Buying? 20:54 China's Gold Strategy: A "Sanctions-Free" Trade Channel 23:39 The Future of Digital Currencies & CBDCs 25:33 Synthetic Foreign Demand for US Debt 25:53 The Growing US Deficit and Interest Rates 27:31 Stablecoins and Dollar Dominance 28:04 Concerns Over State Surveillance 29:20 The Mystery of Fort Knox: "Something Fishy" 33:15 The Volatile Mining Market: "Early Days" 37:15 The Risks of Bitcoin: "Running Out of Buyers" 42:13 The Future of Gold and Copper 47:07 Conclusion and Final ThoughtsGuest Bio: Frank Giustra is the CEO of the Fiore Group, a private firm managing a broad portfolio of private equity investments and companies, specializing in food and lifestyle, art and entertainment, and natural resources. He is a renowned philanthropist and a long-time expert in the mining and finance sectors.#Gold #Silver #FrankGiustra #Economy #Investing #Bitcoin #Mining #China #USDebt #KitcoNews__________________________________________________________________Like, share, and subscribe to Kitco News—and turn on alerts to stay current with expert interviews, market insights, and breaking news coverage. FOLLOW US:  X: https://x.com/kitconewsnow  Instagram: https://www.instagram.com/kitconews  Facebook: https://www.facebook.com/KitcoNews  LinkedIn: https://www.linkedin.com/company/kitconewsLive gold price and chart: https://www.kitco.com/charts/goldLive silver price and chart: https://www.kitco.com/charts/silverLive crypto market data: https://www.kitco.com/price/cryptoLearn more about Kitco News: https://www.kitco.com/news/about/ For more information on advertising, sponsorship and marketing promotions – please visit our online media kit at: https://www.kitco.com/advertising  Disclaimer:  The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.