Gold vs. Treasuries!?!? Boring!! But not really. For the first time in decades, gold's share of reserves is nearly equal to US Treasuries (both ~20%) as the preferred reserve asset for central banks. For context: - In the 1960s-early 1970s, gold made up over 60% of global reserves. - After the US left the gold standard in 1971, gold's role steadily declined and bottomed out around 5-10% by early 2000s. - However, now gold's share has climbed back above 20% - almost equal to Treasuries, which have slid down to ~20%. Why this is important: (1) central banks are quietly diversifying away from the dollar (2) US debt has ballooned and Treasuries aren't as “risk-free” as they use to be (3) money, trust, and power are shifting in real time Most probably shrug this off. I think it's signaling a global monetary system shift, whether we want to admit it or not. If gold is creeping back, what comes next? Personally, i think it's digital, scarce, and borderless.