Economics

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Trump is pushing for the Mar-A-Lago Accord, a plan to convert foreign holdings of US debt into 100-year zero-coupon bonds that are banned from trading in the market. (invezz.com)

submitted 3 weeks ago by [email protected] to c/[email protected]

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[–] [email protected] 12 points 3 weeks ago (2 children)

The US still prices its gold reserves at $42.22 an ounce.

If revalued to the market price of around $2,900, it could create nearly $900 billion in new equity overnight.

Wouldn't this crash the gold price?

[–] [email protected] 11 points 3 weeks ago* (last edited 3 weeks ago)

Yes. Although what are they going to do? Sell it? It's an accounting trick

[–] [email protected] 8 points 3 weeks ago

Maybe in the short term, but BRICS countries are starting to accumulate gold as they dedollarize, so I expect the price of gold will keep climbing in the long term.