Major joint-stock large banks in China provide interest services for customers to the Accumulate Gold, putting an end to the notorious reputation of "interest free assets". Depositing gold will earn interest, which will be paid in gold.
This is a long tweet. Read it like your economic future depends on it. Your grandchildren will thank you.
I give my full breakdown of how I interpreted Treasury Sec. Scott Bessent’s speech at The Economic Club of New York’s America 250 Gala Dinner.
“But milestones of this magnitude demand more than a cemermony”
MBA: Hinting at July 4th, 2026 being more than a celebration. They’re announcing gold bonds and a gold revaluation.
“Over time, however, those choices hardened into habits. Habits into assumptions. And assumptions, left unexamined into vulnerabilities”
“That supply chains would function in every crisis. Low prices would compensate for lost capacity…of course, those assumptions failed to materialize. Some slowly, others all at once”
MBA: Globalism has its weaknesses. On the 250th anniversary, we will be course correcting with price floors, which includes Silver. Going forward, supply chains will no longer operate with the largest emphasis being on price. It’s more about security. The government will raise the price of silver to make it economical to mine and refine domestically.
“In recent decades, we’ve watched strategic industries migrate abroad; critical supply chains concentrate in jurisdictions that do not share our interests.”
MBA: Critical mineral mining and refining are wholly owned by China. The USA will be taking measures to onshore this capacity domestically. Price floors.
“Yet for years, the question that seemed to consume both our political and commercial class was: where is the lowest cost? That question still matters, but it is no longer sufficient. We must also ask: can this supply chain survive a crisis? Can it withstand coercion? Can it continue operating during a pandemic, cyber attack, war, or financial shock, does it depend on a country that could use economic leverage against us? Does it expose American firms to intellectual property theft? Does it leave our military, hospitals, energy system, or financial system vulnerable?”
MBA: Lowest cost is no longer the driving factor in supply chains. Its whether you have supply secured, no matter the price. Domestic mining and refining are in the national interest of the USA. Critical mineral price floors, including silver, are national security.
“The purpose of economic statecraft is to restore that confidence”
MBA: Confidence? Gold bonds.
“Secures its critical supply chains”
“It now falls on us to preserve that inheritance not by seeking a smaller role in the world, but a stronger foundation for our leadership”
MBA: The USA is going to lead the world by re-introducing gold to the monetary system. China is actively doing this with their Hong Kong gold exchange later in July. It’s imperative to beat them to the punch.
“That is American economic statecraft in the 21st-century. Open to the world while anchored at home.”
MBA: Anchored? The dollar is about to be anchored by gold via 50 year gold bonds.
“We should support innovation that strengthens the dollar, improves efficiency, expands access, and preserves the integrity of the financial system.”
MBA: Innovation that preserves the integrity of the financial system? Gold bonds are the newest innovation.
MBA: Many critics will view the statement of strengthening the dollar in terms of the DXY. Historically, during other revaluations, strengthened is used in terms of restoring confidence in the dollar, by backing it with gold.
#gold #silver
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