from ZeroHedge:

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. But knowledgeable observers reckon that if these were marked at current values — $2,800 an ounce — this could inject $800bn into the Treasury General Account, via a repurchase agreement. That might reduce the need to issue quite so many Treasury bonds this year” (technically yes, practically – considering the US government spends over $7 trillion each year, the “benefit” would be equivalent to… less than 2 months of spending).