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US Treasury confirms Fort Knox gold reserves intact, but irrelevant to dollar value

By PulseAugur Editorial · [1 sources] ·

U.S. Treasury Secretary Scott Bessent has confirmed that the nation's gold reserves at Fort Knox are intact, stating that over a trillion dollars worth of gold is present and accounted for. Despite this assurance, Bessent emphasized that the gold's value is now inconsequential to the U.S. dollar's current standing. He explained that the U.S. transitioned to a fiat currency system in the 1970s, moving away from the gold standard that once tied the dollar's value to precious metals. AI

RANK_REASON Commentary from a government official about the irrelevance of gold reserves to the modern dollar.

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AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

US Treasury confirms Fort Knox gold reserves intact, but irrelevant to dollar value

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Commentary from a government official about the irrelevance of gold reserves to the modern dollar.
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COVERAGE [1]

  1. Fortune TIER_1 English(EN) · Sasha Rogelberg ·

    Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar

    The Treasury Secretary says he hasn’t been to Fort Knox, but said all $600 billion in gold there is “present and accounted for.”

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