Revaluing Fort Knox’s gold to fund a strategic bitcoin reserve or pay down the national debt is no longer unthinkable.
Bettmann Archive
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.
That’s helped revive an idea long dismissed as fringe: revaluing the government’s gold reserves to raise cash. It sounds far-fetched. But a new research note from the Federal Reserve suggests it may not be as out there as it seems.
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…