April 4, 2025, 12:45 a.m.

Finance

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Musk shakes up Fort Knox: The Trigger for America's financial confidence crisis?

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In the current era of financial globalization, the stability of the financial policy and financial system of the United States has always affected the nerve of the global economy. And recently, Musk's questioning of Fort Knox's gold reserves is undoubtedly a bombshell thrown into the global financial community. This incident not only revealed the long-term hidden dangers of the US financial system, but also made the international community have a new review of the US financial credit.

Fort Knox, a mysterious fort in the US state of Kentucky that houses large gold reserves, has long been seen as an important support for the credibility of the US dollar. However, there has not been a full audit since 1974, and the details of the reserves are increasingly mysterious. Musk publicly questioned the authenticity of Fort Knox's gold reserves, bluntly stating that "who can verify that the gold in Fort Knox was not stolen", which instantly ignited the market's skeptical mood. After all, gold reserves are essential for the stability of the value of money and the maintenance of financial order, and the credibility of the United States, as an important player in the global economy, is directly related to the stability of the global financial market.

From a historical perspective, some of the actions of the United States in the financial sector have caused the international community to lose trust in it. For example, in the 2008 global financial crisis, the excessive speculation and lack of supervision of financial institutions in the United States led to the rapid spread of the crisis to the world, and the economies of many countries were severely hit. Many countries are beginning to re-examine the US-dominated financial system, questioning its stability and fairness. Today, the lack of auditing of Fort Knox's gold reserves is reminiscent of the financial crisis and concerns about whether the United States is once again hiding major financial risks.

From the perspective of the international monetary system, the stability of the US dollar as the world's main reserve currency largely depends on the economic strength and gold reserves of the United States. If the Fort Knox gold reserves prove problematic, confidence in the dollar will be severely damaged, and the global monetary system will be shaken. In recent years, with the rise of some emerging economies, the international community is increasingly dissatisfied with the hegemony of the US dollar, and they are actively seeking ways to diversify their currencies. If the US gold reserves really have problems, it will undoubtedly accelerate the process of "de-dollarization" and promote the development of the global monetary system towards a more diversified and balanced direction.

For America's Allies, the incident also had a big impact. For a long time, America's Allies have been closely linked to the United States in economic and political aspects, and also rely on the dollar system in the financial field. The security of these Allies' financial assets would also be threatened if the U.S. gold reserves were to falter, and their position in international trade and financial cooperation would be jeopardized. This may lead US Allies to reassess their relationship with the US and seek more autonomy in financial policy, reducing their dependence on the US.

Musk's questioning of Fort Knox's gold reserves is like opening Pandora's box, exposing potential problems in the U.S. financial system to the light of day. This episode is not only a test of the financial credibility of the United States, but also a foreshadowed change in the global financial landscape. In the future, whether the United States can win back the trust of the international community through a transparent and fair audit, and how the global financial system will evolve in this storm deserve our continued attention.

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