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The Global Safe Haven Is Slowly Breaking: Why Central Banks Are Turning to Gold
In just the past year, the U.S. dollar has lost over 35% of its purchasing power against gold, driven by record central bank gold buying. This isn’t a trend, it’s a signal.
Meanwhile, the BRICS nations are growing more coordinated, even as fractures widen among traditional Western allies.
Across Europe and Asia, leaders are reassessing their exposure to a system that no longer feels stable.
Increasingly, nations are recognizing that true sovereignty begins with one principle: zero counterparty risk. That path leads directly to gold.
The Treasury Market’s Safe Haven Status is Eroding and Gold is the Refuge
For decades, U.S. Treasuries have functioned as the cornerstone of global finance, seen by investors and institutions as the ultimate safe haven. That narrative is now fraying.
“There is a liquidity crisis,” Piepenburg told me. “There’s simply not enough grease to keep this system going.”
Rather than providing stability during periods of volatility, U.S. government bonds have started to behave more like risk assets. In recent market turmoil, yields rose when they typically would have declined, highlighting the growing fragility of the system.
Fort Knox: The Taboo That Exposes the System
No discussion of gold’s resurgence would be complete without addressing America’s own reserves.
The United States claims to hold over 8,100 tonnes of gold largely stored at Fort Knox.
Yet, a full, independent audit hasn’t been conducted in over six decades. Now, calls for transparency are gaining momentum. The President of the United States Donald Trump and Elon Musk have floated the idea of a livestreamed audit of Fort Knox.
But according to Piepenburg, transparency carries risks. “Be careful what you ask for,” he said. “I wouldn’t go into combat unless I knew how many bullets I had. And I wouldn’t want to show my hand unless I knew what was there.”
A Moment of Reckoning
We are not witnessing the end of the U.S. dollar but we are witnessing the end of its unchallenged supremacy.
The petrodollar framework is fracturing. Gold is being quietly repurposed as a strategic reserve asset. And U.S. Treasuries the once untouchable cornerstone of global markets are being reassessed by the very institutions that once depended on them.
The implications are profound. Central banks are no longer being quiet about what they doing… they are moving quickly and deliberately toward gold.
The real question isn’t whether gold will rise, but whether the public will grasp what’s driving the move.
https://www.goldtelegraph.com/2025/04/18/the-global-safe-haven-is-slowly-breaking-why-central-banks-are-turning-to-gold/
The Global Safe Haven Is Slowly Breaking: Why Central Banks Are Turning to Gold
In just the past year, the U.S. dollar has lost over 35% of its purchasing power against gold, driven by record central bank gold buying. This isn’t a trend, it’s a signal.
Meanwhile, the BRICS nations are growing more coordinated, even as fractures widen among traditional Western allies.
Across Europe and Asia, leaders are reassessing their exposure to a system that no longer feels stable.
Increasingly, nations are recognizing that true sovereignty begins with one principle: zero counterparty risk. That path leads directly to gold.
The Treasury Market’s Safe Haven Status is Eroding and Gold is the Refuge
For decades, U.S. Treasuries have functioned as the cornerstone of global finance, seen by investors and institutions as the ultimate safe haven. That narrative is now fraying.
“There is a liquidity crisis,” Piepenburg told me. “There’s simply not enough grease to keep this system going.”
Rather than providing stability during periods of volatility, U.S. government bonds have started to behave more like risk assets. In recent market turmoil, yields rose when they typically would have declined, highlighting the growing fragility of the system.
Fort Knox: The Taboo That Exposes the System
No discussion of gold’s resurgence would be complete without addressing America’s own reserves.
The United States claims to hold over 8,100 tonnes of gold largely stored at Fort Knox.
Yet, a full, independent audit hasn’t been conducted in over six decades. Now, calls for transparency are gaining momentum. The President of the United States Donald Trump and Elon Musk have floated the idea of a livestreamed audit of Fort Knox.
But according to Piepenburg, transparency carries risks. “Be careful what you ask for,” he said. “I wouldn’t go into combat unless I knew how many bullets I had. And I wouldn’t want to show my hand unless I knew what was there.”
A Moment of Reckoning
We are not witnessing the end of the U.S. dollar but we are witnessing the end of its unchallenged supremacy.
The petrodollar framework is fracturing. Gold is being quietly repurposed as a strategic reserve asset. And U.S. Treasuries the once untouchable cornerstone of global markets are being reassessed by the very institutions that once depended on them.
The implications are profound. Central banks are no longer being quiet about what they doing… they are moving quickly and deliberately toward gold.
The real question isn’t whether gold will rise, but whether the public will grasp what’s driving the move.
https://www.goldtelegraph.com/2025/04/18/the-global-safe-haven-is-slowly-breaking-why-central-banks-are-turning-to-gold/
The Global Safe Haven Is Slowly Breaking: Why Central Banks Are Turning to Gold
In just the past year, the U.S. dollar has lost over 35% of its purchasing power against gold, driven by record central bank gold buying. This isn’t a trend, it’s a signal.
Meanwhile, the BRICS nations are growing more coordinated, even as fractures widen among traditional Western allies.
Across Europe and Asia, leaders are reassessing their exposure to a system that no longer feels stable.
Increasingly, nations are recognizing that true sovereignty begins with one principle: zero counterparty risk. That path leads directly to gold.
The Treasury Market’s Safe Haven Status is Eroding and Gold is the Refuge
For decades, U.S. Treasuries have functioned as the cornerstone of global finance, seen by investors and institutions as the ultimate safe haven. That narrative is now fraying.
“There is a liquidity crisis,” Piepenburg told me. “There’s simply not enough grease to keep this system going.”
Rather than providing stability during periods of volatility, U.S. government bonds have started to behave more like risk assets. In recent market turmoil, yields rose when they typically would have declined, highlighting the growing fragility of the system.
Fort Knox: The Taboo That Exposes the System
No discussion of gold’s resurgence would be complete without addressing America’s own reserves.
The United States claims to hold over 8,100 tonnes of gold largely stored at Fort Knox.
Yet, a full, independent audit hasn’t been conducted in over six decades. Now, calls for transparency are gaining momentum. The President of the United States Donald Trump and Elon Musk have floated the idea of a livestreamed audit of Fort Knox.
But according to Piepenburg, transparency carries risks. “Be careful what you ask for,” he said. “I wouldn’t go into combat unless I knew how many bullets I had. And I wouldn’t want to show my hand unless I knew what was there.”
A Moment of Reckoning
We are not witnessing the end of the U.S. dollar but we are witnessing the end of its unchallenged supremacy.
The petrodollar framework is fracturing. Gold is being quietly repurposed as a strategic reserve asset. And U.S. Treasuries the once untouchable cornerstone of global markets are being reassessed by the very institutions that once depended on them.
The implications are profound. Central banks are no longer being quiet about what they doing… they are moving quickly and deliberately toward gold.
The real question isn’t whether gold will rise, but whether the public will grasp what’s driving the move.
https://www.goldtelegraph.com/2025/04/18/the-global-safe-haven-is-slowly-breaking-why-central-banks-are-turning-to-gold/