Episode Details

In 2025, the world's central banks quietly began holding more gold than U.S. Treasuries for the first time in a generation, and Jay argues this is not really a story about gold, it's the clearest signal yet that the dollar's reign has no heir. In this episode, Jay runs the numbers on every supposed successor to the dollar, China, the euro, the yen and pound, a BRICS currency, even stablecoins, and shows why each one fails the test, leaving the throne empty for the first time in 600 years. This is a look at what happens when an empire's currency begins to fade but no rival is ready to take the crown, and why central banks are quietly piling into the one money no government can print or freeze.

Citations: https://rentry.co/jms-empty-throne-sources

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00:00 - Gold Quietly Tops U.S. Treasuries

00:35 - The Crown That Always Had an Heir

01:20 - Here's What No Investor Is Pricing In

02:40 - Every Currency Is Just a Story

03:40 - China: The Reflex Answer

04:30 - The Locked Bank: Capital Controls

05:30 - The Banker Who Said No (2009)

06:20 - You Can't Be the Banker Pulling Money In

07:10 - China Grows Old Before It Grows Rich

08:00 - The Euro: A Currency Without a Country

09:00 - The Yen & Pound: Warnings, Not Heirs

10:00 - BRICS: A Networking Event, Not a Marriage

11:00 - Stablecoins: A Faster Dollar, Still a Dollar

12:10 - Maybe We Asked the Wrong Question

13:00 - Gold Isn't the Answer Either

14:00 - The Day Russia's Reserves Were Frozen

15:00 - Even Washington Is Saying It Out Loud

15:50 - The Arithmetic: Why the Price Must Rise

16:50 - Gold Is the Intermission

18:00 - The Thermometer: Trust Leaking Out

19:10 - The Empty Throne

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