An enormous breakout in gold is telling us something.

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	Forwarded this email? Subscribe here for more The full post is available to paid members — enjoy a free preview of today’s content! Gold to $3,000 An enormous breakout in gold is telling us something. Nik Bhatia Apr 1 ∙ Preview   READ IN APP   Dear readers, Price is truth. Thursday’s $50 pop in the gold price has carried over in the opening trading hours of April in Asia. What is gold’s jump trying to tell us? It’s something quite serious. To think about gold’s place in the global financial system, we study the global trio of balance sheets and how they interact. River is our Bitcoin exchange of choice. Securely buy Bitcoin with zero fees on recurring orders, have peace of mind thanks to their 1:1 multisig cold storage custody, and withdraw at any time. Need help? They have US-based phone support for all clients. Now introducing River Link 🔗allowing you to send Bitcoin over a text message that can be claimed to any wallet. Give a gift, pay a friend for dinner, or orange pill your friends, completely hassle-free. Use River.com/TBL to get up to $100 when you sign up and buy Bitcoin. Agenda Holdings Global balance sheet hedge Price action My thesis Classic balance sheet hedge At The Bitcoin Layer, we’ve written about the death of the dollar, specifically how the dollar is more king than ever when compared to other currencies. The euro and Chinese yuan are ages behind, and there is no gold-backed BRICS-formed currency in the works. China isn’t planning to back the yuan with gold either. But I do believe China is the ultimate reason gold is breaking out—more on that at the end. First, let’s look at holdings. All major non-US, non-European nations are building reserves: It’s easiest to think of gold as a balance sheet item. In the global economy, we can think of a trio of balance sheets interacting... Subscribe to The Bitcoin Layer to read the rest. Become a paying subscriber of The Bitcoin Layer to get access to this post and other subscriber-only content. Upgrade to paid A subscription gets you: Access to all industry-leading research and charts on bitcoin and global markets. Post comments and join the community. Support our operations.   Like Comment Restack   © 2024 Nik Bhatia 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe