| President Trump has already told us the game plan: "With the kind of growth we have now, the debt is very low... You grow yourself out of that debt." This is the same economic policy the U.S. has been running since 1970, when Nixon took us off the gold standard. But now, with $37 trillion in debt, Trump is driving the debt-fueled growth playbook into hyperdrive. Buckle up. This is the end run of the U.S. dollar. It's nirvana for gold. The world's never seen anything like this before. Inflation will be allowed to run hot, so asset prices will continue higher, the Dow could rise to 100,000, real estate prices could double, everyone with assets will be a millionaire, and U.S. debt will be easier to pay back... but a bottle of Coca-Cola will cost $20 in due time. The U.S. Dollar Is Going Down Treasury Secretary Scott Bessent and Trump are both calling for 1% rates. Trump even said he wants to pump GDP growth to 25%. We have Trump appointee Stephen Miran, the author of the Mar-a-Lago Accord, on the Fed's Board of Governors. Miran has made the case for boosting U.S. manufacturing competitiveness by a managed U.S. dollar devaluation. The Fed has recently restarted quantitative easing, buying $40 billion of short-term debt per month. The U.S. has about $8 trillion of debt coming due over the next year that nobody wants. Rates can't be allowed to rise, because the interest on $37 trillion in debt is already a $1 trillion annual expense. Crypto Is a Gateway to Gold The U.S. embraced stablecoins when it passed the GENIUS Act. Now that many of our trade partners have walked away from U.S. debt, preferring gold, the U.S. believes stablecoins will provide demand for our debt. One stablecoin, Tether, already holds more U.S. debt than all but 16 countries. Tether has also already amassed 3.3 million ounces of gold in its own vault in Switzerland, worth $13 billion. Crypto was invented to protect against U.S. dollar devaluation. Crypto holders don't want U.S. dollars at any price, especially when the GENIUS Act prohibits interest payments on stablecoins. These interestless stablecoin dollars will find their way into gold-backed tokens, like Tether Gold. The world's best store of value for 1,000 years, combined with crypto's instant transfer and frictionless exchange, creates the World's Ultimate Currency. It's Gold 2.0. Tether executives have whispered to me that Tether Gold will prove to be more popular than the original Tether, which tracks the U.S. dollar. | 
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