Trump/Musk want to "revalue" Ft. Knox gold to buy crypto for the "Sovereign Wealth Fund"

[jmbar2]

The Real Reason Trump and Musk are planning to visit Ft. Knox
Stephanie Kelton
Feb 24m 2025

President Trump wants the American people (in particular) to see that big beautiful stockpile of glistening gold because he wants to revalue it. By showing off “our incredible riches,” the president will explain that we have vastly undervalued its worth. “Can you believe it?” Trump will ask. “We’re valuing all of this gold at $42.22 an ounce. How crazy is that? I can tell you it’s worth a lot more, and we’re going to value it appropriately.”

That will help the Trump administration justify an accounting maneuver that essentially uses gold instead of platinum to invent “cash” for the Treasury.

As Gillian Tett recently reported in the Financial Times, one of the assets that might be slated for the monetization scheme is gold. The idea is that the U.S. Treasury could revalue America’s gold stocks, which are currently valued at $42.22 per troy ounce in national accounts. If they were accounted for at current market values—around $2,800 an ounce—Tett reports that “it could inject $800bn into the Treasury General Account (TGA), via a repurchase agreement.”

In terms of the accounting benefits, the maneuver comes pretty darn close to minting a trillion-dollar platinum coin, doesn’t it? It may sound crazy, but it wouldn’t be the first time the Treasury turned to Fort Knox to “find” money.

https://stephaniekelton.substack.com/p/the-real-reason-trump-and-musk-are?ref=crisesnotes.com
(For those not familiar with Kelton, she is a leading economist/researcher on Modern Monetary Theory, a controversial theory about why the US Treasury need not worry about debt.Her theories are being applied by crypto boys, and she is highly alarmed.