Newly appointed Treasury Secretary Scott Bessent sparked debate this week by suggesting the "monetization" of U.S. gold reserves—potentially creating a significant accounting windfall.
On The Macro Show, Hedgeye CEO Keith McCullough unpacked the implications of this bold proposal, highlighting its potential to reshape the U.S. balance sheet and the creation of a sovereign wealth fund.
"If you're going to monetize the U.S. balance sheet, what does that mean? And they're establishing a U.S. sovereign wealth fund for the first time—what could go in that? Well, Bitcoin, gold, whatever they damn well please," McCullough explains.
"This is a capitalist at Treasury, not an MMT [Modern Monetary Theory] socialist. This is a very different approach, and people should open their minds to where this could lead."
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