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.

[multigraincracker]

1. I can't see any difference between crypto and tulip bulbs.

[jmbar2]

5. It's worse than tulip bulbs. At least there WERE tulip bulbs

In order to steal them, you had to pick them up and carry them somewhere. With crypto, you just push a button and it's untraceably gone.

[Person of Interest]

16. Tulip bulbs have REAL value!!

[Seinan Sensei]

19. As do Beanie Babies

[Historic NY]

23. At least you can tip toe through them.

[C_U_L8R]

2. Dumbest idea yet

But he's sure to have dumber in store.
He seems hellbent on tanking our economy in a perfect storm of corruption, idiocracy, greed and spite.

[johnnyfins]

17. Or just plain theft

Guaranteed TSF looks at all that gold and actually believes it belongs to him. It's a pattern. Remember his signature in the COVID relief checks? Remember him publicly commenting that the same relief checks were " very generous" as though they were coming from his personal account?

[Walleye]

3. Is there any part of the United States government and principles that Trump doesn't want to rape and leave dying?

[OrlandoDem2]

4. Keep your grubby hands off our nation's gold

[Irish_Dem]

6. Trump is only interested if there is a big personal benefit to him.

[jmbar2]

7. This is beyond Trump - he was just the keyholder

This is what the crypto-bros were after, why they sunk so much into getting him elected. They are going to drain the US treasury through untraceable crypto.

[Irish_Dem]

9. Yes, but Trump only agreed to do it for a cut of profits.

I wonder if anyone will ever tell us that Trump and his pals drained all US financial assets.

[Botany]

10. Yup!

Crypto is a scam. You give me your real money and I will give you an address point somewhere
in Cyberspace.


Burning America to the ground.

[CincyDem]

14. Trump knows exactly what he's doing...he was convicted of doing the same thing in NY but with real estate.

Inflate the value of an asset.
Borrow against that value.
Line his pockets with the borrowed money.
Refuse to repay the loan, surrender the asset to the lender.
Stick the lender with the job of liquidating the asset for fair market value.
Buy another (more expensive) asset at fair market value with the borrowed money.
Inflate the value of the asset….go back to step 1.

Wash, rinse, repeat.

The term Ponzi Scheme is named after Charles Ponzi, a 1920’s Italian money manager who created the scam.

100 years from now, the term Trump Scheme will describe this scam

[jmbar2]

21. I had forgotten about that - exactly what he's doing.

[CincyDem]

22. Yep - when ya do it with stocks (or crypto) it's called "pump & dump"...and Trump's plan is for us to get the dump part.

[Raven123]

8. I admit my ignorance

Someone more knowledgeable than me will have to explain the impact this will have on the dollar in my wallet and for the economy in general.

The value of gold v. the dollar are based on an agreement. Funny money makes no sense to me.

I do hope those who are smarter can make the basic kitchen table arguments for people like me.

[Baitball Blogger]

11. Worse than Enron.

[Snarkoleptic]

12. Chris Hayes did a decent piece on this.

Skip to 4:45 if you're in a rush.

[jmbar2]

13. Thanks - I missed that

[dweller]

27. And some say Social Security

is a Ponzi scheme …
🫤



✌🏻

[twodogsbarking]

18. He fucks up everything; and he is an expert at it.

[NotHardly]

20. Where are our laws & those that enforce them??!!!

[Historic NY]

24. Tell him to buy Californium....

its 27 million per gram.

[Bernardo de La Paz]

25. Red states don't want crypto reserve. Their govs tried to get one of their own going and it's gone nowhere. . . . nt

[CousinIT]

26. I KNEW THEY WENT THERE TO STEAL IT. That's precisely what they are doing. Nt