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Comptroller General

The head of the Government Accountability Office (GAO), an independent agency that scrutinizes how the federal government spends taxpayer dollars.

Assay

A test to determine the quality, purity, or composition of a substance, in this case, gold.

Inventory

A complete and detailed list of items, referring here to all of the United States' gold holdings.

Audit

An official and independent inspection of accounts, records, or procedures to verify their accuracy and compliance with rules.

Deep storage

A term used to refer to gold reserves held in highly secure, often less accessible, vaults or storage facilities.

Encumbrances

Any claim or liability against an asset, such as a lease, swap agreement, or other obligation that may affect its ownership or value.

Federal Reserve System

The central banking system of the United States, responsible for conducting monetary policy and overseeing the financial system.