X @Cathie Wood

RT Lorenzo Valente (@LorenzoARK)Gold’s market cap as a % of US M2 just hit ~170%+.This is an all-time high, matching the Great Depression (1934) and above the 1980 inflation peak.Historically, extremes in this ratio show up around macro stress/dollar regime shifts and often mark turning points (1980 preceded a 60%+ gold drawdown).This feels like a pivot moment again: there’s no real consensus, and that’s exactly why there may be a lot of alpha for whoever’s right from here. ...