Finshots Daily Why Elon Musk and Trump want a Fort Knox gold audit
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Feb 26, 2025 Explore the mysteries of Fort Knox, the iconic gold repository, and its significance to the US economy. Discover the potential fallout of a gold audit on national debt and political dynamics. Delve into the rising interest in Bitcoin as an alternative asset, suggesting a shift in financial strategy. Could a transition to digital currency signify a major monetary reset? Join the discussion on how historical gold reserves might compete with modern digital assets.
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Gold Reserves
- Central banks hold a significant portion of the world's gold, about 17% of the total 200,000 tons mined.
- The US central bank possesses the largest share, approximately 8,100 tons, with a large portion stored at Fort Knox.
Fort Knox Audit
- Fort Knox holds about half of the US Treasury's gold, roughly 147 million ounces.
- However, a full audit hasn't occurred since 1953, prompting calls for verification from figures like Elon Musk and Donald Trump.
Gold Valuation Discrepancy
- The gold in Fort Knox is valued at $42 per ounce, significantly lower than the current market price of nearly $3,000.
- Revaluing the gold at current prices could boost its value from $11 billion to a staggering $760 billion.