There are some days when I sit back and think about how much has changed since I started Gold Telegraph nearly a decade ago.
Today was one of them.
This morning, I published my first ever monologue about China’s growing ambitions in the international gold market.
I wanted to do something outside my usual interview format because I think this story deserves more attention than it is getting.
For years, we have been discussing the return of gold to the international monetary conversation. What I find a bit shocking is how many people still seem surprised that this is happening.
Gold was central to the international monetary system for generations. It is only relatively recently, in the broader sweep of history, that we decided we could build an entirely different system around government-issued currencies without any direct link to it.
It is also why we have seen so much inequality and currency destruction for decades.
It really does surprise me is how little attention is being paid to the infrastructure China is building around gold.
That was the reason for this morning’s monologue.
I am not suggesting China is about to replace the U.S. dollar. I am suggesting that the West should be paying very close attention to what is happening and thinking seriously about how we respond.
And Then Came Some Wonderful News
As if the timing couldn’t have been more interesting, Judy Shelton has officially joined the U.S. Treasury as Counselor to Secretary Scott Bessent.
She will be advising on currency policy, including evaluating financial conditions in China.
I had to smile when I learned about this.
Several months ago, I had the privilege of sitting down with Judy for a Gold Telegraph documentary.
I have interviewed some extraordinary people over the years, but that conversation will always be one of my favourites.
Judy has spent much of her career challenging the conventional thinking surrounding money, currency stability and the international financial system.
I couldn’t be happier for her.
I highly recommend for those who have not watched the documentary, to do so.
A Few Final Thoughts
One of the greatest joys of building Gold Telegraph has been watching this community grow around subjects I genuinely care about.
I never imagined I would have the opportunity to sit down with so many brilliant people who have spent their lives thinking about money, markets and the direction of the world.
And I certainly never imagined that conversations once considered outside the mainstream would become so relevant.
There is a lot happening right now.
Some of it concerns me. But some of it gives me optimism.
But what I keep coming back to is that we still have a choice in how we respond.
China is building. Other countries are rethinking their financial relationships. Gold is becoming a very important part of that very discussion.
The West should not be sitting on the sidelines.
We have the capital, the resources, and the talent to lead.
We just need to start thinking a little further ahead.
Thank you, as always, for reading and for being part of this journey.
The Gold Telegraph.