Treasury Secretary Bessent: "We're Going To Monetize The Asset Side Of The US Balance Sheet"

Another day, another new all-time record high for the gold price, as the futures shot $45 higher through the $2,900 level to $2,938, while the silver futures were flat on the day and finished at $32.50.

But as the chaos in the gold and silver markets continues on, there was also a somewhat shocking statement from Treasury Secretary Scott Bessent, who mentioned:

“We're going to stand this thing up within the next 12 months.

We're going to monetize the asset side of the US balance sheet for the American people. We are going to put the assets to work, and I think it's going to be very exciting.

We're going to study best practices as done around the world. There'll be a combination of liquid assets, assets that we have in this country, as we work to bring them out for the American people.”

Obviously, what he described there certainly fits the profile of gold, and there’s been recent speculation that Bessent may be leaning in that direction.

Also, keep in mind what Bessent said last year prior to becoming Treasury Secretary.