Post #2731434

2026-05-11 16:54 UTC

Even putting aside the more outlandish (not "implausible", just outlandish) theories about what Trump might be up to here, this is an objectively insane thing for an American president to say. He just announced to the world that ~$700bn of the US cash reserves are stored in a location that is not secure enough to prevent theft. At a time when the US debt to GDP is already skyrocketing and foreign lenders are getting increasingly concerned about America's ability to make good on their debts. Is he trying to engineer a bond market crisis? Because this is the sort of thing you'd do if you were.

Replies (5)

@LavaPlanet@sh.itjust.works 2026-05-11 22:02

Imagine if you were trying to take down the US. All you would need to do is whisper the right things in his ear. But I'm sure that's not what's happening.

Open ##2731510
@quick_snail@feddit.nl 2026-05-12 02:28

He does this all the time He sells a bunch of stuff, crashes the market, then he buys a bunch of it back super cheap. Then, he announces something that makes the price stabilize, and he sells. Repeat. It's how he used the presidency to jump from millionaire to billionaire

Open ##2731512
@ThunderComplex@lemmy.today 2026-05-11 20:51

Fort Knox Looks inside „I O U $700bn“

Open ##2731525
@BlackLaZoR@lemmy.world 2026-05-11 22:27

It's not about theft but "creative" accounting to multiply the reserves on paper. This should never be done on the gold reserves, but history have seen bigger scams than that.

Open ##2731526
@Jarix@lemmy.world 2026-05-11 21:23

Not just US Bullion, other countries store their bullion there too. I believe France already removed it's holdings or was in the process of

Open ##2821468