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Elon Musk has called for a gold audit at Fort Knox, the U.S. military base known for holding over 147 million ounces of gold, amid long-standing conspiracy theories about missing reserves. His comments, supported by Sen. Rand Paul, highlight the absence of audits since 1974, raising public concerns about the gold's status. Access to Fort Knox is highly restricted, and while there is no evidence of missing gold, the last tour occurred in 2017.
Elon Musk's Department of Government Efficiency (DOGE) is facing calls from social media users and lawmakers to conduct a comprehensive inspection of Fort Knox, where about half of the U.S. gold reserves are stored. The last full review occurred in the 1950s, raising concerns about the accuracy of reported gold holdings, which could impact global gold markets. Experts suggest that an inspection could reveal discrepancies in purity and dimensions of the gold, potentially shaking public confidence in government claims.
Elon Musk is advocating for an audit of the U.S. gold reserve at Fort Knox, prompted by Sen. Rand Paul's call for increased transparency regarding the nation's vast gold holdings, valued at $425 billion. Paul has sought access to verify the reserve for a decade, emphasizing the importance of gold in maintaining trust in the dollar. Despite past visits by officials, critics argue that the lack of regular audits raises concerns about the reserve's integrity.
Elon Musk has been encouraged by Senator Rand Paul to audit the gold reserves at Fort Knox, estimated to be worth $425 billion. This call for transparency comes amid ongoing conspiracy theories about the vault's contents, which have not undergone a comprehensive audit in decades. Fort Knox, heavily fortified and historically significant, holds about 147.3 million ounces of gold, yet its relevance has diminished since the U.S. abandoned the gold standard in 1971.
Musk's recent initiatives echo his Twitter overhaul, marked by drastic workforce cuts and a push for loyalty among remaining staff. Despite resistance and legal challenges, including a federal judge's ruling against accessing Treasury data, Musk's team is rapidly implementing changes, with plans targeting various federal departments. However, constraints from the Trump administration's priorities may limit the scope of these efforts, particularly regarding social security and defense spending.
French Hill, a former community banker from Arkansas, has been elected chairman of the House Financial Services Committee, succeeding Patrick McHenry. Known for his expertise in cryptocurrency regulation, Hill authored the bipartisan Financial Innovation and Technology for the 21st Century Act (FIT21), which aims to clarify the status of digital assets. His leadership is expected to advance legislation addressing the regulatory landscape for cryptocurrencies and support for community banks.
Donald Trump is considering appointing Gail Slater, a key aide to vice-president-elect JD Vance, to lead the Department of Justice’s antitrust unit, signaling a tough enforcement approach against Big Tech. This move aligns with a growing populist sentiment among Republicans advocating for aggressive antitrust actions, similar to those of the Biden administration. Other contenders for leadership roles at the FTC include Melissa Holyoak and Mark Meador, with varying views on antitrust policy.
President-elect Trump has announced the creation of a Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy, to propose recommendations for enhancing government efficiency by July 2026. Meanwhile, the House passed the bipartisan Social Security Fairness Act, aiming to repeal provisions that reduce benefits for certain retirees, though its future in the Senate remains uncertain. As Congress faces a critical five-week period to pass essential funding and defense bills, Trump’s senior appointments are raising eyebrows, particularly with his selections for the Defense and Justice Departments.
Trump's tax proposals, including extending the 2017 Tax Cuts and Jobs Act, face challenges due to a significant federal deficit and the complexities of Congress's budget reconciliation process. While some Republicans may support these initiatives, the fiscal implications could limit the scope of tax cuts pursued in 2025. The new administration's focus will likely prioritize immediate extensions over more complicated proposals like tax-free overtime.
Donald Trump has appointed Florida congressman Mike Waltz as his national security adviser, signaling a strong alignment with Republican leadership as they prepare to advance his agenda in the 119th Congress. Speaker Mike Johnson emphasized the importance of every vote, given the narrow margins and potential challenges ahead, including the need for bipartisan support on key legislation. While Republicans hold a majority in the Senate and are optimistic about the House, hurdles remain, particularly with the Senate filibuster potentially blocking some of Trump's more ambitious proposals.
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