**Special: All Gold is Monetary Gold
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All gold is monetary Gold. Labeling gold as non-monetary gold just because it's in a 24-carat ring? That's the accounting trick, hiding the value of gold in non-monetary gold. JPMorgan says we’re frontloading something. So what are we front-loading with all these “non-monetary” gold purchases? We're front-loading a Fort Knox audit. We're front-loading a gold bond or stablecoin or Basel III. Nobody really knows. But we are definitely front-loading something… which is just code for “Frontrunning”
At the…
The skinny
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