The Sovereign Collateral Crisis: U.S. Debt-to-GDP, Gold Backing, and the Re-Anchoring of Fiat Reserves by Amit Gupta, Kedia Advisory - Investment Guru India
The Sovereign Collateral Crisis: U.S. Debt-to-GDP, Gold Backing, and the Re-Anchoring of Fiat Reserves by Amit Gupta, Kedia Advisory - Investment Guru India
Source: Investment Guru India
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DW NOTE
Gupta's timing is deliberate — gold has recovered to $4,681 but remains 12% below January's high, while 10-year Treasuries now yield 4.69% and 30-year bonds 5.23%. That spread against 3.53% official CPI means real yields are positive again, which should make sovereign debt more attractive than metal. Instead central banks are rebalancing toward gold because they've watched the US freeze $300 billion in Russian reserves and learned that digital claims on another sovereign's goodwill are not actually collateral.