“Like QE But Without The QE”: What Trump’s Upcoming Gold Revaluation Shock Will Look Like

On Feb 3, Trump’s new Treasury Secretary, Scott Bessent, said “within the next 12 months, we are going to monetize the asset side of the US balance sheet”. These comments – which were in the context of US government  funding for a new sovereign wealth fund – prompted the FT’s Gillian Tett to suggest that rising speculation of gold revaluation may be behind the surge in gold, to wit: “currently, [US gold stocks] are valued at just $42 an ounce in national accounts.