The drop is the NFP reaction, not some random dump. August U.S. nonfarm payrolls just printed +162,000 vs consensus around ~56,000. Unemployment stayed at 4.1%. That is a large beat after July’s weak/negative print. Why gold sold off ~$100: • Stronger labor market = higher odds the Fed hikes (or stays hawkish) at the Sep 15–16 meeting.

President Nixon’s administration did not wipe out (or even meaningfully reduce) the U.S. national debt using proceeds from the 1971–1973 U.S. Treasury Gold revaluations. The “Proceeds” and Impact on Debt ⭕️ The 1973 revaluation increased the book value of U.S. gold reserves (then around 260+ million ounces) by roughly $1.2 billion. This created a paper profit that was monetized via gold certificates issued to the Federal Reserve, slightly boosting Treasury cash holdings. ⭕️ Compare this to the national debt: • ~$398 billion in 1971. • ~$458 billion in 1973. ⭕️ The $1.2 billion gain was tiny—less than 0.3% of the debt—and the debt continued to rise in subsequent years due to ongoing deficits, not decline to zero or near-zero. 🎯The Nixon Gold revaluations were not a debt-erasing windfall.