Overview

Debasing the price of gold to protect the dollar has failed. A new system is now inevitable. The Western media fixation on Bitcoin--price, memetics, and volatility--ignores the strategic resurgence of gold. The narrative framing of the rise of gold ignores the cause: an underlying structural shift. In 2023 and 2024, Chinese gold imports surpassed most Western central banks' entire holdings. China doesn't need to announce a gold standard. It only needs to create conditions where gold becomes more trustworthy than Western fiat. The shift won't require an edict. It will occur by default, when trust fails and metal remains. The new significance of gold isn't driven by inflation fears or chart patterns--it reflects a tectonic restructure, a repricing of trust. Not trust from the public--but from institutions. Central banks keep buying gold. There was no mania. Just a quiet shift from paper gold promises to physical certainty. Then suddenly the Bank of International Settlements gave the transition a big shove via Basel III. Power is flowing East. China and Russia have drawn in massive amounts of gold while dumping Treasuries. The BRICS will unveil a gold backed e-CNY to compete with the dollar. Simultaneously, they are forcing the US debt back home in exchange for real assets, choking the Fed/Treasury on the mountain of paper, and grabbing the financial power. This momentous shift is already underway Western banks, lacking the gold to cover their obligations, are increasingly trying to financialize the problem. A Chinese edition of the original edition of Gold Wars was published by the prestigious Shanghai Jiao Tong University Press.

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9781963892260

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Kelly Mitchell is a writer and financial analyst, specializing in precious metals and cryptocurrency. A Chinese edition of the original edition of Gold Wars was published by the prestigious Shanghai Jiao Tong University Press. He maintains a substack column writing on gold wars at goldwars.substack.com He lives in Cape Breton, Nova Scotia with his wife and 2 boys.

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