$20,000 Gold Revaluation

A Wealth Transfer or a Wealth Trap?

$20,000 Gold Revaluation

There is a growing chorus of speculation: the government, drowning in nearly $40 trillion of debt, will eventually be forced to “revalue” its gold holdings to a staggering $20,000 an ounce to balance the books. At first glance, this sounds like a dream for those holding physical gold.

But history and economic logic suggest that before the “bonus” arrives, the trap snaps shut. (more…)