{"id":36550,"date":"2025-02-04T11:28:58","date_gmt":"2025-02-04T18:28:58","guid":{"rendered":"https:\/\/www.itmtrading.com\/blog\/?p=36550"},"modified":"2025-02-04T11:28:58","modified_gmt":"2025-02-04T18:28:58","slug":"trumps-plan-to-kill-the-fed-income-tax-is-100k-gold-next","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/trumps-plan-to-kill-the-fed-income-tax-is-100k-gold-next\/","title":{"rendered":"Trump\u2019s Plan to Kill the Fed & Income Tax – Is $100K Gold Next?"},"content":{"rendered":"

Imagine a world with no income tax<\/strong>\u2014President Trump says it’s possible. But what\u2019s the catch?<\/strong> Could this be the catalyst that sends gold soaring past $100,000 an ounce<\/strong>? With Trump’s radical economic proposals<\/strong>, including tariffs replacing income tax and questioning the Federal Reserve, we’re witnessing the start of a major shift in the financial system<\/strong>.<\/p>\n

CHAPTERS:
\n00:00 – Trump\u2019s Radical Income Tax Proposal
\n01:11 – The Pre-1913 Financial System Explained
\n02:23 – Why the Federal Reserve & Income Tax Go Hand in Hand
\n04:18 – Could Gold Be Revalued? A Look at 1934 & Today
\n06:07 – The BIS & IMF\u2019s Role in a Global Currency Reset
\n07:15 – How a Gold Revaluation Could Change Everything
\n08:21 – What This Means for Your Financial Future
\n<\/strong><\/p>\n

TRANSCRIPT:<\/strong><\/p>\n

00:00<\/strong>
\nImagine a world with no income tax\u2014President Trump says it’s possible. But what\u2019s the catch? And could this be the catalyst that sends gold soaring past $100,000 an ounce?<\/p>\n

In case you missed it, President Trump has been taking aim at the modern financial system\u2014income taxes, the Federal Reserve, and even suggesting a return to pre-1913 policies<\/strong>.<\/p>\n

Now, while Donald Trump continues to push for a massive income tax overhaul<\/strong>\u2026<\/p>\n

00:37<\/strong>
\nBefore 1913, there was no income tax, and the U.S. dollar was fully backed by gold<\/strong>.<\/p>\n

But could a system like this even work in today\u2019s modern world? A full return to the gold standard would be unlikely<\/strong>, as it wouldn\u2019t allow for the level of credit or spending that our system relies on today.<\/p>\n

However, the idea of revaluing gold<\/strong> or partially backing the dollar with gold<\/strong> has been gaining momentum.<\/p>\n

And if tariffs<\/strong> were to replace income taxes<\/strong> as President Trump suggests, this would be one of the biggest shifts in economic history<\/strong>\u2014because something else would have<\/strong> to change to make it work.<\/p>\n

And if that something<\/strong> was the revaluation of gold<\/strong> to its fundamental value\u2026 how high could we see it go?<\/strong><\/p>\n

01:11<\/strong>
\nI know all of this might sound wild\u2014but so is a former president calling to abolish income taxes<\/strong>.<\/p>\n

So let\u2019s get into it.<\/p>\n

Before 1913, the United States government operated without income tax. The primary source of revenue was tariffs<\/strong>\u2014import taxes that raised funds and kept U.S. industries strong<\/strong>.<\/p>\n

During this time, the U.S. dollar was tied to gold<\/strong>, and the system worked great\u2014until everything changed with the creation of the Federal Reserve<\/strong>.<\/p>\n

02:23<\/strong>
\nWhen the Federal Reserve<\/strong> was created in 1913<\/strong>, most Americans don\u2019t realize that was the same year<\/strong> that income taxes were introduced<\/strong>.<\/p>\n

Not a coincidence.<\/p>\n

The Federal Reserve<\/strong> enabled the U.S. to transition from a gold-backed system<\/strong> to a credit-based system<\/strong>.<\/p>\n

But this transition required a new stream of revenue<\/strong> to finance the growing debts.<\/p>\n

Fast forward to today, and income tax, Social Security, and corporate tax account for over 85% of U.S. revenue<\/strong>, while tariffs account for less than 2%<\/strong>.<\/p>\n

So even if the U.S. doubled<\/strong> or tripled<\/strong> tariffs, it still wouldn\u2019t cover the cost of eliminating income tax<\/strong>.<\/p>\n

Which brings us to a critical point\u2014it doesn\u2019t add up<\/strong>.<\/p>\n

04:18<\/strong>
\nSo all this talk about tariffs replacing income taxes\u2014it simply doesn\u2019t work<\/strong>.<\/p>\n

But if it doesn\u2019t work on its own<\/strong>, then what else would have to change to make it possible?<\/strong><\/p>\n

This is where gold enters the picture<\/strong>.<\/p>\n

With global debt rising<\/strong> and confidence in fiat currency systems<\/strong> diminishing, more central banks<\/strong> and global organizations are looking at gold<\/strong>.<\/p>\n

And if gold prices were revalued<\/strong> to align with today\u2019s money supply<\/strong>, we could see gold skyrocket<\/strong> to $100,000\u2013$150,000 per ounce<\/strong>\u2014or even higher<\/strong>.<\/p>\n

05:34<\/strong>
\nNow, revaluing gold does not mean a return to the gold standard.<\/p>\n

Instead, the U.S. government could use its 8,000+ metric tons of gold<\/strong> to partially back<\/strong> the dollar\u2014or revalue gold to $10,000 an ounce<\/strong> to help reduce U.S. debt<\/strong>.<\/p>\n

This would still allow for credit expansion<\/strong> but restore confidence<\/strong> in the system.<\/p>\n

06:07<\/strong>
\nBut how would this work?<\/p>\n

The U.S. could act alone<\/strong>, but today\u2019s world is far more interconnected<\/strong> than in 1934<\/strong>, when FDR revalued gold from $25 to $35 per ounce<\/strong>.<\/p>\n

Instead, a coordinated effort<\/strong> from global institutions<\/strong>\u2014such as the BIS (Bank for International Settlements) and IMF (International Monetary Fund)<\/strong>\u2014would have a much greater impact.<\/p>\n

Both the BIS<\/strong> and IMF<\/strong> have floated the idea of gold revaluation<\/strong> to stabilize fiat currencies<\/strong> and reduce sovereign debt.<\/p>\n

And with the BIS classifying gold as a Tier 1 asset<\/strong>, many believe that we\u2019re seeing the foundation being laid for an inevitable gold revaluation<\/strong>.<\/p>\n

07:15<\/strong>
\nKnowing this, let\u2019s take another look at President Trump\u2019s recent comments<\/strong>.<\/p>\n

He has been signaling a desire to challenge the Federal Reserve<\/strong>, abolish income tax<\/strong>, and reform the system<\/strong>.<\/p>\n

Is he telegraphing a major financial shift<\/strong>?<\/p>\n

Is he laying the groundwork for a gold-backed<\/strong> or partially gold-backed<\/strong> dollar?<\/p>\n

Tell me what you think in the comments below<\/strong>.<\/p>\n

07:48<\/strong>
\nNo matter what, we know change is coming\u2014and fast<\/strong>.<\/p>\n

Anyone holding gold or U.S. dollar-denominated assets<\/strong> will see major changes ahead<\/strong>.<\/p>\n

But one thing is certain<\/strong>\u2014the conversation about gold\u2019s role<\/strong> in the global financial system is accelerating<\/strong>.<\/p>\n

08:21<\/strong>
\nMost people don\u2019t fully understand the role of gold and silver<\/strong> in protecting wealth during economic transitions<\/strong>.<\/p>\n

That\u2019s why we put together a FREE ITM Gold & Silver Guide<\/strong>\u2014so that you can educate yourself<\/strong> and prepare<\/strong>.<\/p>\n

📥 Download your free guide here:<\/strong> [Insert Link]<\/p>\n

📞 Talk to an expert analyst about your financial strategy:<\/strong> [Insert Link]<\/p>\n

💬 If you have thoughts or questions, leave them in the comments below<\/strong>.<\/p>\n

09:27<\/strong>
\nI\u2019ll be covering this topic more<\/strong> in the coming weeks, so make sure to subscribe<\/strong> so you don\u2019t miss out.<\/p>\n

And as always, I appreciate you being here<\/strong>.<\/p>\n

I\u2019m Taylor Kenney<\/strong> with ITM Trading<\/strong>, your trusted source for Gold, Silver, and lifelong wealth protection<\/strong>.<\/p>\n

Until next time.<\/strong><\/p>\n

SOURCES:
\nhttps:\/\/cdn.statcdn.com\/Infographic\/images\/normal\/33464.jpeg<\/a>
\nhttps:\/\/fred.stlouisfed.org\/series\/FGEXPND<\/a>
\nhttps:\/\/www.foxbusiness.com\/media\/trump-proposes-abolishment-federal-income-tax-bringing-us-back-richest-period-history<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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