The U.S. holds a lot of gold. But revaluing it at current prices wouldn’t do much to improve the fiscal challenges in Washington.

President Donald Trump says Elon Musk will be looking at Fort Knox, the legendary depository in Kentucky for American gold reserves, to make sure the gold is still there.

While flying back to Washington aboard Air Force One on Wednesday night, a reporter asked President Donald Trump whether Elon Musk would pursue budget cuts at the Pentagon. His response might be confusing to anyone who hasn’t spent the last several days monitoring Musk’s account on X.