On May 12th, U.S. President Trump reiterated during a May 10th interview his hope to visit the Fort Knox gold depository in Kentucky to verify whether there is still gold inside. Trump had previously publicly expressed doubts: "Some people" may have stolen the gold. Currently, neither the White House nor Fort Knox has responded to Trump's remarks, and it is unclear whether a visit has been arranged. It is reported that the Fort Knox gold depository was built in 1936, holding approximately 147 million ounces of gold, accounting for 56% of the U.S. official gold reserves. The Federal Reserve Board published a research brief titled "Official Reserve Revaluations: The International Experience" in August 2025, exploring how governments can revalue gold on their accounting books at "market prices" to generate disposable cash without actually selling the gold. The report explicitly compared the book value of the 261.5 million ounces of gold held by the U.S. Treasury, which was set at the statutory price of $42.22 per ounce in 1973 (totaling about $11 billion). At the current gold price (around $4,700 per ounce), the revaluation of the entire 261.5 million ounces of U.S. reserves would produce an accounting unrealized gain of over $1.2 trillion, seen as the "ultimate nuclear weapon" to reshape the dollar's credibility amid the U.S. debt crisis. Many macro-strategic analysts in the U.S. have long advocated this view: believing that revaluing gold is the last resort for the U.S. to instantly reduce its debt ratio and inject liquidity into the system through accounting measures when facing unsustainable debt pressures. In 2025, U.S. Treasury Secretary Bessent publicly mentioned the need to "mobilize the asset side of the U.S. balance sheet," although he later expressed caution about immediately revaluing gold. Nonetheless, this was seen by the market as a policy shift signal. (Dongxin News)