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The U.S. has the world’s largest gold reserves—worth $1 trillion at market rates. But repricing that hoard ‘would backfire in a big way,’ analyst says
"Far-fetched? Of course, but these days I have learned to never be shocked by anything anymore." With the federal budget deficit at $2 trillion and debt-interest costs topping $1 trillion a year, it may be tempting to look for extra cash under the sofa cushions. Urgency has grown in recent months as Treasury yields have soared to the highest levels in more than 20 years, putting more pressure on interest expenses. The Treasury Department has trie…
