The assumption that Treasuries serve as a reliable liquid store of value that can be converted to commodities during crises was broken by the US seizure of Russian assets, demonstrating that Treasuries only retain value if the US permits it, causing central banks to pivot en masse to gold purchases.

causalpending

Speaker

Louis Gave

Evidence Quote

When we seized Russia's treasuries, we said, 'You only get access to treasuries if we say you do.'

Source

The Bull Case for China: The Best Opportunity Right Now? | Louis GaveThe Master Investor Podcast with Wilfred Frost
Created: 8/12/2026, 6:22:54 PM

My Notes

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