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In a recent appearance on Barry Cunningham’s show, Kevin DeMeritt, founder of Lear Capital, shared insights on the growing intrigue surrounding gold reserves, potential audits of Fort Knox, and what this all means for the U.S. economy.
The conversation delved into pressing concerns about government-held gold, the possibility of revaluing it, and the broader implications for the financial system.
The interview with Kevin DeMeritt can be viewed on YouTube here:
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No time for the full interview? Below are the main ideas discussed in Bryan Cunningham's interview with Kevin DeMeritt.
A Mystery Surrounding Gold Purchases
Cunningham kicked off the discussion by highlighting an unusual trend: massive gold purchases being made by an unidentified U.S. entity.
“Somebody is taking huge physical deliveries and it's causing shortages in London,” he noted. The speculation is that the U.S. Treasury or Federal Reserve could be behind these purchases, possibly preparing for an audit of the nation’s gold reserves.
DeMeritt confirmed that the U.S. government values its gold holdings at an outdated $42.22 per ounce—a figure set decades ago—while the market price hovers around $2,900 per ounce. If the government were to update this valuation, it could significantly strengthen its balance sheet.
“The Federal Reserve's balance sheet currently lists gold at $11 billion,” DeMeritt explained. “But if we mark it to today’s market value, it jumps to around $500 billion. And if the government revalues gold at $5,000 an ounce, it could create a trillion-dollar asset almost overnight.”
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Is a Fort Knox Audit on the Horizon?
One of the most provocative topics discussed was the potential audit of Fort Knox, which houses a large portion of the nation’s gold reserves. Cunningham and DeMeritt noted that no thorough audit has taken place since 1974—over 50 years ago.
“If Fort Knox doesn’t have the gold, we lose an enormous amount of faith in the U.S. government and the U.S. dollar,” DeMeritt warned.
He speculated that the recent uptick in gold shipments to the U.S. from London and Switzerland—192 metric tons in January alone—could be part of an effort to replenish any missing reserves ahead of an audit.
Related: Claim Your Free Gold IRA Guide from Lear Capital Today
The Role of Gold in Trump's Economic Strategy
The discussion naturally turned to former President Donald Trump, who has reportedly signaled interest in revisiting the nation’s gold holdings. Trump’s economic team may be considering gold revaluation as a strategy to strengthen the dollar and offset the ballooning national debt.
DeMeritt pointed out that other countries, including Russia and China, have been actively increasing their gold reserves.
“Backing currency with even a small percentage of gold adds credibility and stability,” he said, noting that Russia’s ruble strengthened by 10% after the country partially backed it with gold.
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Gold, AI, and the Future of the U.S. Economy
The conversation took an interesting turn when Cunningham asked how gold fits into Trump’s broader economic vision, particularly regarding artificial intelligence (AI).
DeMeritt explained that the AI arms race is driving massive government and private-sector spending, leading to inflationary pressures.
“If the U.S. is serious about leading in AI, it will require trillions of dollars,” he said. “That spending could drive inflation, and historically, inflation increases the value of gold.”
Silver: The Underrated Opportunity?
While gold was the focal point, DeMeritt also touched on silver, calling it “undervalued.” Historically, when gold rises, silver follows. With silver currently priced at around $34 an ounce—compared to its previous high of $49—it could have significant upside potential.
Related: Is Lear Capital Legit? Inside Look at the Gold IRA Dealer
Final Thoughts
The episode ended on a high note, with Cunningham urging listeners to pay close attention to gold’s movements in the coming months. If a Fort Knox audit is announced or gold is revalued, it could send shockwaves through the economy and financial markets.
For Americans looking to hedge against economic uncertainty, DeMeritt’s advice was clear: “Gold and silver have historically served as safe-haven assets. With all that’s happening, now may be a crucial time to own them.”
As speculation grows over what’s really inside Fort Knox, one thing remains certain—gold’s role in the global economy is far from over.
To learn more about how Americans are diversifying their savings with gold and silver, get your copy of Kevin DeMeritt's Gold & Silver Guide here.
