RT Gareth Jenkinson (@gazza_jenks)It all started with Bitcoin Treasury Companies.Then we got Ethereum, Solana, TON.Now we have a @tethergold DAT! We've got @pA1nD from @AurelionGlobal - bringing the Gold standard to the DAT landscape.Join me & @rkbaggs on #CHAINREACTIONhttps://t.co/Rb53pBzual ...

RT separate money & state (@iambitcoinonly)@NickSzabo4 @awealthofcs 1929Gold standard → Fed couldn’t print2025Fiat standard → Brrrrrrrr🤡 ...

Market Analysis & Investment Strategies - Gold has delivered an 11% annualized return over the last 20 years, outperforming productive assets due to currency debasement [1] - Bitcoin has significantly outperformed gold, with a 1500% increase compared to gold's 150% increase since 2020 [1] - The market environment has shifted, with macro factors like currency debasement (30% purchasing power loss since 2020) becoming more critical than individual company fundamentals [1] - A potential Bitcoin standard in the Western world is more likely than a return to the gold standard, while China may explore a gold-backed currency [2] - The US government has indirectly acquired $15 billion worth of Bitcoin through seized assets [2] Retail vs Institutional Investors - Retail investors have been continuously buying the dip, demonstrating a different investment behavior compared to institutions [11][13] - Retail investors excel in momentum and dip buying, potentially outperforming institutional investors due to fewer constraints [15][21] - Retail investors are often smarter than institutional investors because they are unconstrained [21] - Independent investors are well-positioned for the future due to their independent thinking and lack of allegiance to specific companies or ideas [24] Government & Economic Factors - The US national debt is approximately $37-38 trillion [2] - The government shutdown has a limited impact on financial markets and the average American, with the stock market responding more to presidential communications [23][24] - The Fed is expected to cut rates, and failure to do so could erode investor confidence [25]

Alamos Gold (NYSE:AGI) 2025 Conference Summary Company Overview - Alamos Gold is a gold mining company with a market cap that has grown from $400,000 to approximately $15 billion over the years, demonstrating significant growth and success in the industry [10][12][19]. Key Industry Insights - The gold mining industry has experienced cyclical downturns, with a notable period of poor performance from 1996 to 2005, during which gold prices were low [3][4]. - The current market environment is characterized by a potential bull market for gold, driven by the debasement of the U.S. dollar and a shift in perception of gold as a monetary asset rather than just a commodity [12][19]. Core Company Strategies and Performance - Alamos Gold has focused on strategic acquisitions during market lows, which has allowed the company to build a robust production profile and increase its mineral reserves significantly [14][24]. - The company has grown its annual production from 427,000 ounces to 600,000 ounces, with plans to increase this to over 1 million ounces [26][29]. - The cost of production is projected to decrease from $1,400 per ounce to $1,100 per ounce as economies of scale are realized [17][31]. Financial Performance - Alamos Gold has generated nearly $400 million in free cash flow from its operations, with a strong focus on retaining earnings for growth [14][20]. - The company has created approximately $10 billion in value through its M&A strategy, with significant returns on investments made in various projects [20][22]. - The current valuation of Alamos Gold is approximately 9.6 times enterprise value to EBITDA, which is considered low compared to other sectors [18][19]. Project Highlights - The Mulatos project, acquired for $10 million, has generated $790 million in cumulative free cash flow [20]. - The Lynn Lake project, acquired for $35 million, has a market consensus NPV of $1.3 billion, showcasing the potential for significant returns [21]. - The Island Gold project has seen reserves grow from 750,000 ounces to over 6 million ounces, with a consensus value exceeding $6 billion [22][24]. Market Position and Future Outlook - Alamos Gold has outperformed its peers and the gold price itself, with a 350% increase since December 2021 [17][18]. - The company is well-positioned for future growth, with a diversified portfolio of projects in safe jurisdictions, primarily in Canada and Mexico [31][39]. - The management emphasizes a conservative, low-risk strategy, fully funding expansions through generated cash flows [31][39]. Risk Management and Strategic Focus - The company has shifted its focus away from riskier jurisdictions, such as Turkey, to concentrate on stable markets in North America [35][39]. - Alamos Gold's management has learned from past experiences and is committed to maintaining a sustainable business model that prioritizes shareholder value [38][39]. Conclusion - Alamos Gold presents a compelling investment opportunity within the gold mining sector, characterized by strong financial performance, strategic growth initiatives, and a favorable market outlook for gold prices [12][19][31].

Aug 15, 1971: Gold standard is "paused."Aug 15, 2025: My iced coffee is $7. ...

Bretton Woods System Overview - The Bretton Woods system aimed to establish a stable international monetary system to foster global trade and economic stability after World War II [6] - The system placed the US at the center of the economic universe, with the US dollar pegged to gold at $35 per troy ounce, and other countries pegged their currencies to the dollar [21][22] - The International Monetary Fund (IMF) and the World Bank were created to oversee the system, promote economic development, and ensure adherence to the fixed parity system [25] Systemic Flaws and Challenges - The system's reliance on a national currency (the US dollar) as the primary source of international liquidity contained an inherent contradiction, known as the Triffin dilemma [32] - The US's persistent balance of payments deficits led to a flood of dollars, eroding confidence in the dollar's convertibility into gold [36] - The US did not actively manage its exchange rate, placing the burden of adjustment on other countries and creating an "exorbitant privilege" for the US [28][31] Demise of Bretton Woods - Countries began swapping dollars for gold, leading to a depletion of US gold reserves [41][42] - On August 15, 1971, President Nixon ended the convertibility of dollars into gold, effectively ending the Bretton Woods system [44] - The end of Bretton Woods led to a system of free-floating exchange rates and a terminal decline in the value of many currencies [47] Legacy and Implications - Bretton Woods institutionalized the dollar's global role as the dominant reserve currency [21] - The system's flaws led to the erosion of the US domestic manufacturing base and a growing net international investment position deficit [39] - The end of Bretton Woods marked the birth of fiat currency, backed by nothing but the issuer's monopoly on violence [46]

Historical Context & Monetary Policy Shift - In 1971, the US defaulted on its debts due to insufficient gold reserves to back its paper currency [1][2][3] - President Nixon suspended the dollar's convertibility into gold, effectively ending the gold standard [3][5] - President Roosevelt similarly broke the link between paper dollars and gold in 1933 [7][8] Economic Impact & Market Reaction - The stock market surprisingly rose nearly 25% after Nixon's announcement, contrary to initial expectations of a plunge [6] - Devaluation of the dollar occurred because the US printed more paper money than it had in gold reserves [9] - Breaking the link to gold allowed the US to continue spending beyond its earnings by printing more dollars [9] Currency Strength & Economic Fundamentals - A nation's currency strength is based on the strength of its economy [4] - The US economy was considered the strongest in the world at the time of Nixon's decision [5]