Treasury Secretary Missed Gold Redemption History | Raleigh News

Treasury Secretary’s TV moment sparked a gold rush of questions — he casually held up old silver certificates, claiming their backing still exists, and pegged the nation’s gold stash at over a trillion dollars. But here’s the twist: redemption for those certificates ended in 1964, bullion swaps in 1968, domestic gold redemption in 1933, and the gold standard itself in 1971. Peter Schiff seized on the gaffe, pointing out how it reveals a troubling disconnect between public messaging and historical fact. The Treasury still values its gold at 1973 prices — way below market value — and audits don’t even involve physical verification. While no one’s rushing to Fort Knox, the real gold rush is about trust — and that’s been eroding since 1974. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/619c277582deaa07