Sam

Keep a close eye on the gold price and on a lady named Judy Shelton | @judyshel. The 10 year Treasury rate is what the government pays to borrow. Today it hit 5.02% at auction. Demand was weak. Before this year, you have to go back to 2007 to find the 10 year sitting above 5%. The national debt was about $9 trillion in 2007. Now it's $40.5 trillion, so the same 5% costs a whole lot more. Treasury hired Judy Shelton last month as a counselor to Scott Bessent, the Treasury Secretary. She wrote the book on gold backed Treasury bonds. It's called Good as Gold, and it makes the case for a 50 year bond backed by US gold reserves. The US holds about 261 million ounces of gold and still carries it on the books at $42 an ounce. There's talk of marking it up. At $20,000 an ounce, that gold would be worth over $5 trillion on paper. We don't think people understand what that means. The Fed would hand Treasury new dollars against the higher value, and Treasury would spend them. That's printed money going into the economy. When there are more dollars and the same amount of stuff to buy, each dollar buys less. Prices go up. Savings and bonds lose value, so money moves into things that can't be printed. Gold would be first in line, with Bitcoin and crypto assets close behind. None of this has been announced. Still, Treasury hired one of the best known gold bond advocates in the country in the middle of a debt problem, and we doubt that's an accident. Shit, life would be easier if we used WoW Gold 👀 solana:72yxYmhLgDGwdyi2b9GjDynBB6VuG3kDxNKqDbzXh5bi