Dylan Mullican

This is insane. I had to fact check this video from @SenLummis, when she stated that gold certificates held by the Federal Reserve are valued at 1970s price. She is right, and it is nuts. I looked it up... Gold certificates held by the U.S. Treasury are still valued at their 1973 statutory price of $42.22 per ounce, rather than the current market price of gold. How Gold Certificates Are Valued in the U.S. Reserve: - Fixed Price of $42.22/oz:The U.S. Treasury values its gold reserves based on a statutory price set in 1973 ($42.22 per troy ounce). - This valuation remains unchanged despite the market price of gold being significantly higher (currently around $2,000+ per ounce). Gold Held at Fort Knox and Other Depositories: - The U.S. holds 261.5 million troy ounces of gold. -At the outdated valuation ($42.22/oz), this gold reserve is reported as ~$11 billion on the Federal Reserve's balance sheet. -If marked to current market value, the reserves would be worth over $500 billion. Why Doesn’t the U.S. Update the Gold Price? - The statutory price is a relic of the Bretton Woods system, which ended in 1971 when the U.S. fully transitioned off the gold standard. - Adjusting the value would affect monetary policy, Treasury accounting, and international financial agreements.