Gold Revaluation For Dummies

Federal Reserve officials including Chair Jerome Powell are in Jackson Hole, Wyo., this week with a suspicious term paper: the central bank’s Aug. 1 study on how broke countries revalue gold to pretend they’re not broke.

In Washington, D.C., “budget-neutral” means “we found money we swear we didn’t have.” Even a child could connect these dots. Start with the Fed’s study, titled “Official Reserve Revaluations: The International Experience.”

The inevitable gold-price reckoning that could fund Trump’s bitcoin ambitions — and sting your bank account.

A newly published Federal Reserve paper might as well be titled ‘Gold Revaluation For Dummies.’

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