Part 8/15:
Gold and the Debasement Trade: The Central Bank Shift
A significant macro trend is the shift from U.S. dollar holdings to gold among foreign central banks. Recent data indicates that 24% of their reserves are now in gold, overtaking the previous dominant position of treasuries, which have fallen to 40%. This crossover point signals a growing distrust of fiat currencies and a strategic pivot towards long-term safe-haven assets.