Trump’s Plan to Kill the Fed & Income Tax – Is $100K Gold Next?

Imagine a world with no income tax—President Trump says it’s possible. But what’s the catch? Could this be the catalyst that sends gold soaring past $100,000 an ounce? With Trump’s radical economic proposals, including tariffs replacing income tax and questioning the Federal Reserve, we’re witnessing the start of a major shift in the financial system.
CHAPTERS:
00:00 – Trump’s Radical Income Tax Proposal
01:11 – The Pre-1913 Financial System Explained
02:23 – Why the Federal Reserve & Income Tax Go Hand in Hand
04:18 – Could Gold Be Revalued? A Look at 1934 & Today
06:07 – The BIS & IMF’s Role in a Global Currency Reset
07:15 – How a Gold Revaluation Could Change Everything
08:21 – What This Means for Your Financial Future
TRANSCRIPT:
00:00
Imagine a world with no income tax—President Trump says it’s possible. But what’s the catch? And could this be the catalyst that sends gold soaring past $100,000 an ounce?
In case you missed it, President Trump has been taking aim at the modern financial system—income taxes, the Federal Reserve, and even suggesting a return to pre-1913 policies.
Now, while Donald Trump continues to push for a massive income tax overhaul…
00:37
Before 1913, there was no income tax, and the U.S. dollar was fully backed by gold.
But could a system like this even work in today’s modern world? A full return to the gold standard would be unlikely, as it wouldn’t allow for the level of credit or spending that our system relies on today.
However, the idea of revaluing gold or partially backing the dollar with gold has been gaining momentum.
And if tariffs were to replace income taxes as President Trump suggests, this would be one of the biggest shifts in economic history—because something else would have to change to make it work.
And if that something was the revaluation of gold to its fundamental value… how high could we see it go?
01:11
I know all of this might sound wild—but so is a former president calling to abolish income taxes.
So let’s get into it.
Before 1913, the United States government operated without income tax. The primary source of revenue was tariffs—import taxes that raised funds and kept U.S. industries strong.
During this time, the U.S. dollar was tied to gold, and the system worked great—until everything changed with the creation of the Federal Reserve.
02:23
When the Federal Reserve was created in 1913, most Americans don’t realize that was the same year that income taxes were introduced.
Not a coincidence.
The Federal Reserve enabled the U.S. to transition from a gold-backed system to a credit-based system.
But this transition required a new stream of revenue to finance the growing debts.
Fast forward to today, and income tax, Social Security, and corporate tax account for over 85% of U.S. revenue, while tariffs account for less than 2%.
So even if the U.S. doubled or tripled tariffs, it still wouldn’t cover the cost of eliminating income tax.
Which brings us to a critical point—it doesn’t add up.
04:18
So all this talk about tariffs replacing income taxes—it simply doesn’t work.
But if it doesn’t work on its own, then what else would have to change to make it possible?
This is where gold enters the picture.
With global debt rising and confidence in fiat currency systems diminishing, more central banks and global organizations are looking at gold.
And if gold prices were revalued to align with today’s money supply, we could see gold skyrocket to $100,000–$150,000 per ounce—or even higher.
05:34
Now, revaluing gold does not mean a return to the gold standard.
Instead, the U.S. government could use its 8,000+ metric tons of gold to partially back the dollar—or revalue gold to $10,000 an ounce to help reduce U.S. debt.
This would still allow for credit expansion but restore confidence in the system.
06:07
But how would this work?
The U.S. could act alone, but today’s world is far more interconnected than in 1934, when FDR revalued gold from $25 to $35 per ounce.
Instead, a coordinated effort from global institutions—such as the BIS (Bank for International Settlements) and IMF (International Monetary Fund)—would have a much greater impact.
Both the BIS and IMF have floated the idea of gold revaluation to stabilize fiat currencies and reduce sovereign debt.
And with the BIS classifying gold as a Tier 1 asset, many believe that we’re seeing the foundation being laid for an inevitable gold revaluation.
07:15
Knowing this, let’s take another look at President Trump’s recent comments.
He has been signaling a desire to challenge the Federal Reserve, abolish income tax, and reform the system.
Is he telegraphing a major financial shift?
Is he laying the groundwork for a gold-backed or partially gold-backed dollar?
Tell me what you think in the comments below.
07:48
No matter what, we know change is coming—and fast.
Anyone holding gold or U.S. dollar-denominated assets will see major changes ahead.
But one thing is certain—the conversation about gold’s role in the global financial system is accelerating.
08:21
Most people don’t fully understand the role of gold and silver in protecting wealth during economic transitions.
That’s why we put together a FREE ITM Gold & Silver Guide—so that you can educate yourself and prepare.
📥 Download your free guide here: [Insert Link]
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💬 If you have thoughts or questions, leave them in the comments below.
09:27
I’ll be covering this topic more in the coming weeks, so make sure to subscribe so you don’t miss out.
And as always, I appreciate you being here.
I’m Taylor Kenney with ITM Trading, your trusted source for Gold, Silver, and lifelong wealth protection.
Until next time.
SOURCES:
https://cdn.statcdn.com/Infographic/images/normal/33464.jpeg
https://fred.stlouisfed.org/series/FGEXPND
https://www.foxbusiness.com/media/trump-proposes-abolishment-federal-income-tax-bringing-us-back-richest-period-history