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Posted on 08/08/2025 7:11:16 AM PDT by C210N
As my sources told me, Miran is a rarity, a highly trained economist who knows all the jargon, has absorbed the peer studies, brings intellectual heft, and makes a logical-sounding case for Trump’s stunningly contrarian game plan. “To say the least, it’s a relatively small pool of PhD economists who are economic nationalists. That’s a blinding reality. But Steve is one,” says someone outside the administration who knows him.
(Excerpt) Read more at fortune.com ...
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Be aware gold officially is currently $42.22, well below today’s spot price. If gold is revalued at the Treasury to at least $3500, and more likely at least $7000, there will be much realignment in the financial workings of the world, with relevance to BRICS and the world’s reserve currency.
What would happen to the dollar under gold revaluation)?
Supporting Trump’s tariffs doesn’t make one an “economic nationalist” anymore than the Doolittle Raid was war mongering. The only way I see to make other countries drop the import restrictions and tariffs they’ve had on us for many years is to fight fire with fire.
Time to fix the 48” trummel on the back of my property.
It would fall. Miran would certainly say that, and want’s a lowering dollar.
Miran advocates for a deliberate weakening of the U.S. dollar to correct its perceived overvaluation, which he argues harms U.S. manufacturing and exacerbates trade deficits. A gold revaluation—effectively devaluing the dollar relative to gold—could align with this goal, as it would reduce the dollar’s purchasing power globally, making U.S. exports cheaper and imports more expensive.
A revaluation from $42.22 (the historical Bretton Woods peg, no longer in effect since 1971) to $3,500 or $7,000 per ounce would imply a significant devaluation of the dollar. Miran might view this as a mechanism to achieve his proposed “Mar-a-Lago Accord” objectives, similar to the 1985 Plaza Accord, which weakened the dollar through coordinated international action.
We aren’t on the gold standard, the “official” government gold price is meaningless to currency values.
We aren’t on a gold standard until we are. It’s not a matter of flipping a switch, it takes some setup.
While we are not on a domestic gold standard, gold does affect the situation. The Treasury has 8000 tons on its balance sheet at $42.22, and probably has a great deal more than that.
Shifting back to gold to some degree will have an effect on the national debt.
“We aren’t on a gold standard until we are. It’s not a matter of flipping a switch, it takes some setup.”
That’s quite the understatement. Some setup would include taking care of $37 trillion in debt, which might look something like, economic collapse, depression, civil war.
BRICS currencies suck and aren't going to be stronger or more attractive if this change occurs.
Exactly. A big nothing burger.
The elephant in the room since at least the last 112 years (FED creation), and well before that thru the First Bank of North America, the First bank of the United States, the Second Bank of the United States.
Our entire history revolves around elastic money and inflation, with only very short periods or instances of hard money, aborted by assassinations and the like.
yes, worth noting though that China only holds $750 Billion of of the $37 Trillion, just 2%. So they don’t control us, nor do we control them via debt/borrowing. When we inflate out, it is mainly US debt holders that will be eviscerated.
Sorry, but gold is NEVER revalued.
Paper money is DEVALUED!!
I agree with that
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