Gold Overtakes Treasuries as the World's Reserve Asset

In this appearance on the SGT Report show, Dr. Kirk Elliott traces the debt picture behind today's monetary shifts, from roughly one trillion dollars of US federal debt in 1980 to about forty trillion now, and explains why the strain is global rather than American alone. He walks through the Japanese yen carry trade, why its unwinding matters for the US bond market, and how the market received the Treasury's yen intervention. He describes gold overtaking US Treasuries as the largest global reserve asset, its Basel III standing as a tier one asset, and why central banks increasingly treat gold rather than sovereign currencies as collateral. He also covers gold repatriation by Germany and Belgium, the difference between paper proxies and metal held in the owner's name, and why segregated, single-owner depository storage differs from arrangements where metal can be leased out. He suggests physical metals are worth considering, and invites viewers to schedule a consultation with the KEPM team.