The current state of global economics since the 1944 Bretton Woods agreement operates on certain presumptions regarding gold, oil, interest rates, the perceived strength of the US dollar, and the geopolitical landscape. In retrospect, it appears the authors of that agreement never conceived of the rise of China, digital technology, tens of trillions of dollars in US debt, and a long list of other developments since then. For the first time, gold has overtaken US Treasuries by value, and recently surpassed the euro, to become a leading global reserve asset, now second only to the US dollar itself. Although the US ... (full story)