A new era of monetary rivalry unfolding? As the East is doubling down on #gold to challenge the US dollar's supremacy, the West is considering to embrace #Bitcoin as a strategy to secure monetary dominance...

After 20 years of writing about gold, I'm still impressed by how reliably fiat money does the one thing it's truly good at: losing value. 😅 So we started the Sound Money Report — our weekly take on gold, silver, commodities and more. Free to start, and occasionally even funny. 🪙 👉 soundmoneyreport.substack.co…

US Gold Reserves, as a % of US Public Debt, 01/1915–04/2026 In the early 1940s, US gold reserves covered 51% of US public debt. By the end of 2025, this figure stood at approximately 3%. The chart illustrates this long-term trend and details the implied gold prices required if backing were to return to historical benchmarks. The complete chart and accompanying analysis are available on page 64 of the In Gold We Trust Report 2026: ingoldwetrust.report/in-gold… Make sure to follow our partners over at @IGWTreport for more!

Super Plauscherl über Gold, Geld und die Welt mit @MarkValek, @studentofcycles und Björn! youtu.be/cf2WdRH3Ico?si=2J1y…

Map gold's cycle onto Everest and the climb explains itself. Every camp is a consolidation. Every pullback is an acclimatisation stop. You gain altitude, let the body adjust, then push again. Climb high, sleep low. You are here: roughly USD 4,670, catching our breath. Our 2030 base case of 4,800 is essentially already reached. The summit from here needs 14.5% a year. Gold has already delivered 19.7%.

Fun fact: "The Federal Reserve has failed to hit is 2% inflation target for 63 consecutive months." ht #Gavekal

This isn’t even remotely true. $AMZN went public in 1997 at a $450M valuation, or 3x revenues. $GOOGL went public in 2004 at a $23B valuation and at 7x revenues. $META had a $104B valuation in 2012 at 20x revenues(and immediately sold off almost 50%). SpaceX dwarfs these numbers.

With what money, and at what cost to the people who already hold the shares? Because the stock is trading below the value of the Bitcoin $MSTR already owns, around 0.82 times on the gross measure. Below one. And that inverts Saylor’s own accretion logic. When the stock trades above its Bitcoin, issuing shares to buy more Bitcoin grows the Bitcoin behind every existing share. Below one, it does the opposite. Issue new shares to buy more Bitcoin now and each existing share ends up owning less Bitcoin than before. The pile grows, the dot lands, the chart looks triumphant, and the man who already owns the stock is quietly worse off. The dots celebrate the size of the stack while the per-share reality goes the other way. And if he funds the buying with more preferred instead of common, he is adding to the very dividend bill at a higher effective yield that is already draining the reserve. So either funding path has a cost in this environment. Dilution on one side, a heavier obligation on the other. Adding dots does not fix the dividend bill, the thin reserve, or the engine that is now running in reverse.

Brandaktuell zum Bitcoin-Kollaps ein beinhartes Duell zu Saylor und Strategy. Passiert gerade, was @MarkValek hier vorhersagt? Ist das die Todesspirale für Saylor und Bitcoin? Oder wird Mario Saibel recht behalten und Saylor bleibt on top? Das Video wurde schon vor dem Bitcoin Verkauf aufgezeichnet - aber wegen der dramatischen Ereignisse der vergangenen Tage kann ich es nicht mehr zurückhalten. youtube.com/watch?v=peoVxQlD…

Pretty sure she wants to abolish the federal reserve.

Today is the opening of the St. Petersburg International Economic Forum (SPIEF), which was met with a Ukrainian drone attack. Everyone knows the Baltic States participate in these attacks, thus the line between proxy war and direct war has been crossed. This will end in disaster.

Many thanks, @Brien_Lundin enews.jeffersoncompanies.com…

Ron Paul: The Federal Reserve Is Why The People Are Unhappy zerohedge.com/personal-finan…

JUST IN: 🇮🇱🇺🇸 Israeli National Security Minister Ben Gvir says "it is time to say NO to President Trump." "Now is time to do what is necessary and continue striking Hezbollah."

Excited to be part of the Aumontis Holding AG Global Networking Day in Liechtenstein 🇱🇮 today. Following my short presentation on “Commodities - Between Geopolitics and Neo-Mercantalism” and moderating a panel with the Aumontis leaders, it is very insightful listening to @MarkValek of Incrementum and the latest findings from their fantastic IN GOLD WE TRUST REPORT (the gold bible). Great opportunity to exchange ideas with like minded investors! Thanks for the invitation, Dr. Titus Gebel & Martin Hoff 🙏 #IGWT #gold #mining

Benedict Neff heute in der NZZ: "Emmanuel Macron, Friedrich Merz und Keir Starmer verstehen sich als das Führungstrio Europas unter dem Label E3, aber alles deutet darauf hin, dass diese Politiker bereits jetzt Gestalten der Vergangenheit sind. Sie handeln noch, aber ihre Zeit ist schon abgelaufen."

Here's a list of all successful socialist countries: Here's a list of fiat currencies that outperformed gold over the last 50 years: Some lists write themselves.

Download your free copy of the In Gold We Trust Report 2026 (20th anniversary) and dive in. One of the most respected sources on gold, silver, commodities, and global markets—delivering strong analysis and essential insights for macro and investment trends.

Gold allocations are rising among central banks and private investors: Central bank gold reserves as a % of total reserves rose to 26.6% in 2025, the highest since 1993. This proportion has surged 17 percentage points since 2013. Meanwhile, private investor gold allocation increased to 2.7% of total portfolios last year, the highest since 1984. This percentage has more than DOUBLED over the last 5 years. Both central banks and private investors are steadily moving toward gold.

It was my distinct honor to be able to speak at the 20th Gottfried von Haberler Conference in Liechtenstein today. 🙏