Finally, as we noted back in February, there is a potential ulterior motive here, which was also hinted at by The FT, suggesting that a gold revaluation by the US Treasury may be looming...

"currently, [US gold stocks] are valued at just $42 an ounce in national accounts. But knowledgeable observers reckon that if these were marked at current values — $2,800 an ounce — this could inject $800bn into the Treasury General Account, via a repurchase agreement. That might reduce the need to issue quite so many Treasury bonds this year"

'Things have accelerated a little since then: if we assume the 39% tariff that applies to Swiss goods, then Gold is currently worth $4726 (1.39 x $3400)... which implies a $1.235 Trillion bump for the US Treasury.'

Higher gold prices, the better (for Trump), as @OneChanceFreedm concludes:

If intentional, it’s a geopolitical two for one where it weakens Switzerland’s refining dominance and force London’s bullion desks into a defensive funding position, all while boosting the relative leverage of U.S.-based refiners and COMEX as the global center of price discovery.

That’s a strategic strike on the gold market’s offshore liquidity loop.

...assuming all that gold is there?

70% of the world's gold is refined in Switzerland.

39% tariffs, includes gold bars that New York-based Comex accepts for deliveries causes gold shorters in the United States to have difficulty sourcing gold to cover their positions.

Shorters then buy existing spot driving the price higher.

Then the US treasury revalues its gold at market and uses that money to "budget neutrally" acquire bitcoin.

when money is physical, it becomes subject to the laws of physical counties.

bitcoin at most could be confined by regulatory restrictions on custodians sending to a particular jurisdiction