"Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold. Paul, a longtime critic of the Federal Reserve and U.S. monetary policy, said he believes it's "a possibility" that there might not actually be any gold in the vaults of Fort Knox or the New York Federal Reserve bank. The libertarian lawmaker told Kitco News, a website tracking news about precious metals, that an audit was necessary to determine how much the U.S. maintains in gold reserves in case the government were to use gold to back the dollar." Read more. Ron Paul Questions Whether There's Gold at Fort Knox, NY Fed Michael O'Brien The Hill's Blog Briefing Room, August 30, 2010. Image by Salvatore Vuono / FreeDigitalPhotos.net.