In the May 8th edition of the Wall Street Journal (electronic), editor Kimberley A. Strassel has published an editor entitled “America Inc. Balance Sheet.” In it, she thought up Interior Secretary Doug Burgham (who considered the proposition of one of my two favorite members of the Trump Cabinet, but I preferred even better if Trump chose him as the veep to tote the assets side of the federal government’s balance sheet). She writes:
So the Secretary of the Interior proudly makes a laidback addiction to the “Drill, Baby, Drill” mantra: “Map, Baby, Map.” He is working to focus the USGS on identifying and estimating resources rather than on recent climate obsessions.
Good for him. But my big surprise is that Strassel was already taken from the ground and didn’t take into account one asset, an asset that could be easily sold. Of course, I will introduce you to money.
According to a report from August 11, 2023, the US government currently holds 261.5 million troy ounces of gold. The government officially rates it at $42.22 per Troy. Of course, that’s ridiculous.
But while total government officials are foolish enough to state the value for $42 an ounce, none of the government is foolish enough to sell it for $42.
It makes me a bar to a serious point. If the Fed sells all the gold, it will lower the price Somowat. Let’s say salt brings it to a $3,000 oranty.
The government brings in $261.5 million * $3,000, which is $784.5 billion. That’s almost half the year’s deficit.
Rather, I could have reduced bond issuances of nearly $800 billion than I would have to estimate on gold, while still making US taxpayers pay that $800 billion in interest.
When I witnessed the data, I think gold is worth like a trillion dollars. But reducing the deficit by $800 billion is a good start.
