The Netherlands is moving a substantial portion of its gold reserves out of the United States and Canada and placing it in London. De Nederlandsche Bank will dress this up as an exercise in “tradability,” geographical diversification, and crisis preparedness, but central banks do not quietly rearrange billions of euros in physical gold because everything […]

The US Treasury has doubled the size of its buyback operations for longer-term government securities from $2 billion to at least $4 billion per operation after long-term yields surged to levels not seen in nearly two decades. They will call this “liquidity support” because government always invents a new phrase when the system begins to […]

The European Central Bank is moving ahead with the digital euro and expects to begin a 12-month pilot during the second half of 2027. Thirty-six banks and payment providers have already been selected to participate, legislation is expected to be completed by the end of 2026, and the ECB intends to be ready for a […]

QUESTION: Mr. Armstrong, You previously predicted that gold would decline due to forced selling to raise cash, partly triggered by the energy crisis involving Iran, and I believe that assessment was correct. Turkey, for instance, has reportedly sold 60 tons of gold while also dumping U.S. Treasuries. Now, with tensions escalating between Turkey and Israel—and […]

The United States has become the first nation to prohibit its central bank from creating a central bank digital currency, but Congress quietly placed an expiration date on that protection. The prohibition covers both retail and intermediated CBDCs, yet it expires at the end of 2030. That means the door to a programmable government currency […]

India is preparing to launch its first tokenized corporate bond in September, and this experiment exposes where the digital monetary system is ultimately heading. The bonds will be issued by REC, a state-owned power financier, in an offering worth less than 5 billion rupees, or approximately $57 million. The amount is small because this is […]

A bank does not actually have everyone’s money sitting in a vault waiting to be returned. The entire system functions because everyone assumes they will not demand their money at the same time. Once that confidence begins to crack, the numbers on a balance sheet become secondary because people want CASH. That is what we […]

Tens of thousands of people in northwest Indiana have been living without electricity for more than a week, yet this disaster received little national attention until residents had already entered what they described as “survival mode.” The blackout began after an August 11 derecho produced winds approaching 99 miles per hour, destroying power lines, transmission […]

Saudi Arabia recorded a budget deficit of 125.7 billion riyals, approximately $33.5 billion, in the first quarter of 2026. That is almost as large as the $44 billion deficit the government projected for the entire year. Spending increased by 20% while oil revenue declined by 3%, creating the very contradiction Vision 2030 was intended to […]

QUESTION: Marty, will you please issue a new bond report? Everything you laid out in the 2020 Bond Report you handed out at the 2020 WEC  has been amazing. You wrote: “The strongest target in the Yearly array is 2023 for a turning point ahead, at least on a closing basis. It does appear we […]