US Elections (& Politics) :)
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bigredfish
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bigredfish
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bigredfish
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Sybertiger
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Yup, a trillion in gold may as well be zero compared to our debt.
bigredfish
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They could share it with us, it would be meaningful to my checkbook !
bigredfish
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Parley
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The Treasury Is Sitting On A $750 Billion Gold Hoard Officially Valued At $11 Billion
Soaring gold prices and a $37 trillion national debt have revived debate over revaluing gold reserves. A new Federal Reserve note explores how other nations raised funds through revaluation.
Gold is up more than 40% in the past year, from under $2,400 an ounce to over $3,400. Meanwhile, the national debt is approaching $37 trillion.
On August 1, the Federal Reserve published a research note called “Official Reserve Revaluations: The International Experience.” It outlines how five countries used gains on their official gold holdings to raise funds. It does not propose the U.S. do the same, but it explains the steps involved and what to expect if it happens.
The note covers Germany, Italy, Lebanon, Curacao and Saint Martin, and South Africa. Some used revaluation proceeds to reduce debt. Others used them to cover central bank losses. The examples are limited but show how governments have tapped into hidden value without raising taxes or issuing new bonds.
The U.S. Treasury values its gold at $42.22 an ounce, a price set in 1973. It holds 261.5 million ounces, the majority of it at Fort Knox in Kentucky. At the official price, the gold is worth $11 billion. At today’s market price, it would be worth more than $750 billion. Revaluation would not require selling the gold. It would simply update its book value.
The Treasury could adjust the value of U.S. gold reserves through a few bookkeeping steps. It might retire its current $11 billion gold certificate (issued by the Treasury) and establish a higher official price for gold (which could be lower or even higher than the market price). Next, it could "transfer" the gold to the Fed at this new price, potentially gaining billions or trillions (remember, it need not revalue the gold to the current market price). The Fed would then return the gold to the Treasury for a new certificate. No gold physically moves, but the Treasury ends up with a significant amount of newly created funds.
What would happen next depends on policy decisions.
Could the Treasury Revalue Gold for Bitcoin Reserve or Debt Relief?
Could the Treasury revalue Fort Knox gold to fund a bitcoin reserve or cut the $37T debt? A Fed note explores how it’s worked abroad.
www.forbes.com
Sybertiger
Known around here
But the tariffs will be allowed to continue for 6 weeks to October 14th.
nypost.com
Trump’s tariffs ruled illegal in stunning blow to president’s trade agenda — White House to appeal to Supreme Court
A three-judge panel on the US Court of Appeals for the Federal Circuit found that the statute Trump relied on to impose his most expansive tariffs did not actually grant him that authority.
nypost.com
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Ahhh, returning to the good old days
Military News
A view of the United States Military Academy at West Point, N.Y., May 2, 2019. (AP Photo/Seth Wenig, File)
Military.com | By Rebecca Kheel
Published August 29, 2025 at 2:25pm ET
A portrait of Confederate Gen. Robert E. Lee in his Confederate uniform with a slave guiding his horse in the background will be rehung in West Point’s library, the Army confirmed to Military.com on Friday.
The reinstallation, which was first reported by The New York Times, marks the latest effort by the Trump administration to reverse the work of a congressionally mandated commission charged with scrubbing tributes to the Confederacy from the military.
In a brief email Friday, an Army spokesperson confirmed to Military.com that the Times report was accurate. West Point did not immediately respond to a request for comment, while the Pentagon deferred to the Army.
Military News
Portrait of Confederate Gen. Robert E. Lee with Slave Rehung at West Point
A view of the United States Military Academy at West Point, N.Y., May 2, 2019. (AP Photo/Seth Wenig, File)
Military.com | By Rebecca Kheel
Published August 29, 2025 at 2:25pm ET
A portrait of Confederate Gen. Robert E. Lee in his Confederate uniform with a slave guiding his horse in the background will be rehung in West Point’s library, the Army confirmed to Military.com on Friday.
The reinstallation, which was first reported by The New York Times, marks the latest effort by the Trump administration to reverse the work of a congressionally mandated commission charged with scrubbing tributes to the Confederacy from the military.
In a brief email Friday, an Army spokesperson confirmed to Military.com that the Times report was accurate. West Point did not immediately respond to a request for comment, while the Pentagon deferred to the Army.