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Wall Street talk of revaluing U.S. gold draws attention -- and skepticism
Jack Ryan, Yvonne Yue Li, and Saleha Mohsin
Bloomberg News
via Yahoo News, Sunnyvale, California
Thursday, February 13, 2025
The gold market attracts its share of fringe ideas, and in recent weeks one of them -- that the U.S. should revalue its gold stockpiles -- has gripped Wall Street.
The idea isn't under serious consideration among President Donald Trump's top economic advisers, according to a person familiar with the matter.
Nevertheless, some gold market participants have taken their cue from Feb. 3 comments by Treasury Secretary Scott Bessent that the government would "monetize the asset side of the U.S. balance sheet" and create a sovereign wealth fund.
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The speculation centers around the idea that the U.S. Treasury could re-peg its gold holdings at a higher level, a move that would generate quick cash for a government eager to run more efficiently. In summary: The U.S. government should revalue its gold reserves from the $42-an-ounce set in 1973 to current prices, allowing the Treasury Department to monetize the sudden balance-sheet boost of about $750 billion, thereby reducing the need to issue bonds. ...
... For the remainder of the report:
https://finance.yahoo.com/news/wall-street-talk-revaluing-us-180943811.html
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