Paul Barron sits down with Andy Schectman from Miles Franklin to unpack the theory that Tether is quietly accumulating gold on behalf of the US government to devalue the dollar and reshore manufacturing.
Key Points
Key Highlights:
- Tether has bought over 27 metric tons of gold in the first half of the year, more than any entity besides Poland's central bank, while simultaneously getting a clean audit and pushing its USAT stablecoin for the Genius Act launching in January
- Andy's theory is that Tether keeps the government at arm's length by accumulating gold with stablecoin interest, eventually selling it to the Treasury to devalue the dollar the same way FDR did in 1933
- Physical gold deliveries on COMEX have been abnormally high for nearly 20 months straight, far beyond the historic norm of under 1%, suggesting large coordinated buyers are quietly taking possession
- Tokenized gold and silver are now being used as productive DeFi collateral, letting holders earn yield without ever selling, a shift Andy believes could eventually make traditional gold ETFs obsolete
Takeaway Gold is being remonetized with digital rails, and if this theory holds, both Tether's buying and the broader tokenization trend are quietly setting up a new global collateral system built on gold rather than the dollar alone.
