The Kobeissi Letter recently highlighted that the proportion of U.S. gold reserves relative to government debt is at a historic low. According to Odaily, gold reserves currently account for only 3% of U.S. federal debt, marking one of the lowest levels on record. Despite the United States holding 8,133.5 metric tons of gold, the largest reserve globally, and gold prices reaching historic highs, this ratio remains low. In contrast, in 1980, the ratio was approximately 18%, six times higher than the current level. To match the 1980 reserve level, gold prices would need to increase by 400% to $26,000 per ounce. During the 1940s, the ratio of gold reserves to federal debt exceeded 50%. To achieve the 1940s ratio, gold prices would need to rise by 1,340% to about $75,000 per ounce. The data on gold reserves underscores the growth in U.S. debt levels.