🪙 “One of the most rigorous contributions to the global gold debate.” — @TaviCosta 🪙 “The first thing I read and the last word on the subject.” — @SantiagoAuFund 🪙 “One of my go-to resources on all things gold.” — @LukeGromen 🪙 “In independence of thought we trust.” — Russell Napier As we count down to the #IGWT26#, four prominent macro thinkers reflect on 20 years of the In Gold We Trust report. Take a look to see why our insights matter more than ever in today’s monetary regime shift. 📖 Read the full article for free on the @SoundMoneyRpt: ⏳ Only 14 days until the release of IGWT 2026: Back to the Monetary Future #RoadToIGWT26# #GoldReport# #GoldInvesting# #PreciousMetals# #SafeHaven# #SoundMoney# #Commodities# #MonetarySystem# #Geopolitics# #MacroTrends# #MarketAnalysis# #AustrianEconomics#

The Next Monetary System is being built for Machines Technology clusters give us new building blocks to build things we never imagined…. Bitcoin + AI is building a new financial stack. Bitcoin and Crypto built a lot of pipes that are now finding a perfect fit right into the internets 402 protocol layer of internet money, which is rapidly becoming “the financial layer for AI agents.” And this doesn’t mean that every pipe’s token becomes money… Velocity ≠ Value. Bitcoin has unique attributes… which make it the only suitable scarce, permissionless, personless, censorship-resistant settlement and capital asset. And so, Consensus will organize around the BTC asset/protocol because of those unique properties. But tech and financial systems scale as a stack. So on top of the BTC base… Stablecoins and digital credit (USDC/USDT and STRC-style instruments) are quickly becoming working money and the yield layer. Agents will spend stables. Humans and institutions will hold credit that sits on Bitcoin collateral. Application rails (Solana, ETH L2s, Robinhood Chain, specialized appchains) are the high-speed plumbing. Tokenized stocks, API micropayments, and agent-to-agent transfers can live there. As the infrastructure and Blockspace continues to become more abundant and cheap… the monetary premium will continue to accrue at the base layer.

Deep discussion on the evolving structure of the monetary system, implications for capital markets and the agentic economy in London at @GoldmanSachs Digital Assets event. Event was top notch.

we were promised flying cars and all we got is a cryptographic monetary system where you can prove conservation of value without revealing the value, prove authorization without revealing the spender, and prove a transaction is valid without revealing your financial history.

The World Cup final was a Masonic ritual marking the death of the old monetary system and the birth of the New World Order’s programmable currency. Learn the codes , watch my Series

⚡️Bitcoin is civilization building money around the assumption that future humans cannot be trusted with unlimited monetary discretion. That is the core. Every prior monetary system ultimately contains the same vulnerability: someone can change the rules. A king clips the coin. A central bank expands the balance sheet. A legislature changes the law. A company issues more shares. A bank edits access. A custodian changes the terms. The system survives only as long as future decision-makers exercise restraint. Bitcoin removes that assumption from the center. Its deepest innovation is credible refusal. Refusal to issue because someone powerful wants more units. Refusal to alter ownership because an institution dislikes the holder. Refusal to rewrite monetary history because circumstances changed. That creates something strange: a monetary institution without an institution at the center. And that matters because money is really a technology for carrying claims on the future. You sacrifice consumption today. You save. You are asking tomorrow to remember what you gave up yesterday. Most forms of money answer that request with: trust the people who will govern the ledger later. Bitcoin answers: verify the ledger yourself. That is a radical change in the architecture of trust. The deeper layer is time. Bitcoin is a machine for making economic memory difficult to rewrite. Every block says: this happened, this ownership existed, this scarcity rule still holds, the past remains expensive to alter. That is why the strongest description is not “digital gold.” Bitcoin is monetized memory. Gold remembers value through physical scarcity. Bitcoin remembers value through computationally enforced history. And that becomes more important as civilization gets more digital, more automated, more AI-mediated, and more programmable. Because almost everything else is becoming easier to change. Information can be generated. Images can be fabricated. Software can rewrite itself. Markets can trade continuously. Institutions can automate decisions. AI can persuade, simulate, optimize and recombine nearly anything. Against that background, an asset whose core monetary rules are deliberately hard to change becomes more valuable precisely because the rest of civilization becomes more malleable. That is the hidden inversion: The more programmable the world becomes, the more valuable something unprogrammable becomes. That is Bitcoin’s deepest long-term position. A civilization full of adaptive intelligence may increasingly want one layer that does not adapt. A fixed point. A monetary reference frame. Something that says: however intelligent the system becomes, this unit cannot be conjured because the system wants more of it.

🚀BITCOIN BULL RUN IMMINENT🚀 WE LIVE IN A SIMULATION. Bitcoin bear markets priced in GOLD have lasted: 406 days. 416 days. 440 days. Historical average: 421 days. So naturally the latest Bitcoin/gold bear market bottoms after... 433 DAYS. Then Bitcoin proceeds to rip +41% against gold. Apparently the monetary system has a RESPAWN TIMER. We spent 14 months watching everyone declare Bitcoin dead for the 900th time while the hardest-money ratio was quietly approaching the exact same historical expiration date like a frozen pizza in God’s microwave. And the funniest part? Bitcoin even made a LOWER LOW in dollars afterward... ...while making a HIGHER LOW against gold. Now get this. We are 6 months and 5 days passed the bottom now. Walk forward that length of time from each BTC/XAU bottom in history. Forward returns in USD: Six months forward +36.8% -9.1% +55.1% Median: +36.8% Two of the three periods were strongly positive, while 2019 ran directly into the COVID-era disruption shortly afterward. Twelve months forward The results become much more interesting: +144.5% +1.6% +87.2% Median: +87.2% And crucially: 3 out of 3 were positive 12 months later. If today's cycle merely matched those historical medians mechanically: 6-month median analogue $80,279 × 1.368 ≈ $109,800 BTC 12-month median analogue $80,279 × 1.872 ≈ $150,300 BTC Fiat chart: “OH GOD IT’S OVER.” Hard-money chart: “sir, your bear market subscription has expired.” At some point you have to consider the possibility that Bitcoin is not trading randomly. It is simply running a recurring program designed to transfer wealth from people who panic after 400 days to people autistic enough to count them.

"It fundamentally changed the way I look at investing and at macro in general." That's from somebody who spent four days with me in West Palm Beach last October, working through how to read the monetary system from the plumbing up. I run it once a year, forty people. There's a minute of last year's room talking about it on the page, if you want a sense of it before this October's. October 9 to 12: