The Golden Solution for Dealing with the Debt Ceiling

May 12, 2023

A friend reminded me that the Treasury controls more than $500 billion in gold reserves. The President has the legal authority to direct the Treasury to sell these reserves any time he likes. This would not be enough to cover a full year, given the size of the current deficit, but it certainly could delay the X-date by several months.

Anyone have any ideas why selling gold is not in the mix of possible courses of action?


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