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Yes, during this time, I believe everyone is closely watching the conflict between the United States and Iran, and waiting to see if oil prices will rise or fall. But I will tell you that very few people have noticed three numbers that will truly change the long-term logic of gold. Those numbers are 27%, 65%, and 52%. Listen carefully. Each of these three numbers hides a shocking truth. Starting with gold, which currently accounts for 27% of global official reserves, officially surpassing U.S. government bonds as the number one asset. Next is the proportion of U.S. dollar payments in global oil trade, which has fallen to 65%. And most importantly, among major oil-producing countries, the dollar's share has been halved to just 52%. This is not just ordinary news that passes by and is forgotten. Instead, this is a signal that the petrodollar system, which has supported the U.S. dollar for the past 50 years, is beginning to crack. And gold is about to return to its true position. This directly affects the gold you hold, in terms of how far it can soar in the next 10 years. Today, I will clarify three main points for everyone to understand thoroughly. The first point: Why is gold surpassing U.S. government bonds to become the world's number one reserve asset a turning point of an era? The second point: We will revisit old accounts from 50 years ago, the secret agreement between Henry Kissinger and the Saudi royal family, on how the petrodollar system came into being. And the third point: Once we understand the movements of central banks worldwide, how should ordinary people like us plan and manage our gold to avoid being left behind in this era of massive currency reshuffling? First, let me ask everyone a question. Do you know what the smartest money in the world, with the most information, is currently chasing? It's not artificial intelligence stocks, it's not Bitcoin, and it's not any emerging market. It is gold. A report from the World Gold Council, released in June, stated that 89% of central banks expect to buy more gold in the next 12 months, and 45% said their institutions will buy this year, a historically high proportion. In the first quarter of 2026, central banks worldwide net purchased 244 tons of gold, after exceeding 1,000 tons for three consecutive years from 2022 to 2024. Even though 2025 did not reach 1,000 tons, the figure of 863 tons is still very high in historical terms. Do you know who bought the most gold in 2025? It wasn't an Asian country, but Poland, which bought a whopping 102 tons in one go. India, Russia, and Middle Eastern countries are also quietly buying. Have you ever thought about why these central bankers are the cream of the crop? Why do they choose not to buy U.S. bonds or high-yield assets, but instead pour money into gold, which yields no interest and cannot even be eaten? Friends who have followed our channel for a long time will know that gold is not just a safe-haven asset as they call it. It is the only currency in the world that carries no counterparty risk. Let me give you a simple comparison. U.S. bonds are an invoice written by the U.S. government to you. The U.S. dollar is paper printed by the U.S. central bank. Money deposited in a bank is just a number that the bank owes you. Only with gold, which you hold in your hand, is it not a debt to anyone, and no one can arbitrarily freeze it. Speaking of freezing assets, let me refresh your memory about something many may have forgotten. Back when the conflict between Russia and Ukraine first erupted in 2022, the United States arbitrarily froze over $300 billion in foreign exchange reserves of the Russian Central Bank. Imagine that. That was money that Russian people had worked hard for, sweating and toiling, selling oil and natural gas for decades, deposited in European and American banks, but suddenly it was seized without any prior notice. This event served as an alarm bell for all central banks worldwide. It made everyone realize that depositing reserves with others is no longer safe. When we were friends, that money was yours. But when we broke up, that money immediately became mine. Since then, the pace of gold purchases by central banks worldwide has skyrocketed. Why? Because gold can never be frozen. Gold has no nationality. If you keep gold bars in your own vault, no one can take it away. Alright, let's continue. In the previous video, we discussed the night President Nixon announced the closure of the gold window in 1971. I believe many friends were amazed that the dollar's decoupling from gold had so many hidden stories. After that night, since the dollar was no longer backed by gold, why did the whole world continue to use the U.S. dollar? This is the account we will settle today: how the petrodollar system came into being. Some friends might wonder why our channel talks about gold, and why today we are talking about oil. I must tell everyone here that it is immensely related. The petrodollar is the most crucial pillar of the U.S. dollar's dominance. Whether this pillar remains strong or collapses will directly determine the long-term direction of gold prices. You must understand how the petrodollar was created to understand how it is collapsing now, and this will further illuminate the grand logic of gold over the next 10 years. This debt account is directly related to every piece of gold in your possession. Going back to that time, Nixon and Treasury Secretary Connally devised a plan. They summoned Secretary of State Henry Kissinger and told him, "You must travel to the Middle East, go to Saudi Arabia, and successfully negotiate this agreement." In 1974, Kissinger made a secret, urgent flight to Riyadh and struck a world-changing deal with the Saudi royal family. The essence of this agreement is very simple. The United States would provide military protection to Saudi Arabia, sell them the most advanced weapons to guarantee the safety of the Saudi royal family, and ensure Saudi Arabia's leadership in the Middle East. In exchange, Saudi Arabia had to agree to two conditions. First, all oil exports must be paid for in U.S. dollars only. Second, the majority of dollars earned from oil sales must be reinvested in U.S. government bonds. Everyone, think about how profound this plan was. Saudi Arabia was the largest oil exporter at the time and the leader of OPEC. Once Saudi Arabia led the way, other oil-producing countries in the Middle East followed suit. From then on, no matter which country in the world wanted to buy oil, whether you were Japan, Germany, or South Korea, regardless of how close you were to America, you had to exchange your own currency for U.S. dollars before you could buy oil. This meant that the entire world had an unavoidable need to use U.S. dollars. You might not use American products, you might not like America, but you cannot do without oil, and that means you cannot do without U.S. dollars either. What's even better is the petrodollar recycling mechanism. Other countries work tirelessly, selling goods to earn dollars, and then using those dollars to buy oil. Oil-producing countries sell oil and earn dollars, then use those dollars to buy U.S. bonds. The U.S. dollar circulates around the world, ultimately returning to the United States. The U.S. only needs to print money to buy goods worldwide and can comfortably borrow money from the entire world to spend. This cycle is the ultimate secret to the U.S. dollar's power. And in this way, the dollar successfully transitioned from a gold-backed system to an oil-backed system. Gold was kicked out of the monetary system, and the dollar found a new anchor. This system has supported the world for 50 years. But friends, no system in the world can last forever without change. The petrodollar system, which has stood for 50 years, is now showing cracks. Do you remember the three numbers I mentioned at the beginning of the program? Now I will break them down for everyone, one by one, and you will see how big these cracks are and why I say they will directly determine the long-term direction of gold prices. The crucial numbers have arrived. The first number is 65%. In global oil trade, the proportion of U.S. dollar usage has decreased from 80% in 2023 to 65% in the first quarter of this year, a drop of 15 points in just 3 years. This is a major global trend, not just an issue for one country. The second number is 52%. In oil trade between the Middle East and China, which is the clearest example, the dollar's share has decreased from 90% in 2020 to only 52% in the latest data. In simple terms, half of the oil that the Middle East sells to China is no longer settled in U.S. dollars. Especially in the last half-year, the speed has been frightening. At the end of 2025, this proportion was still over 70%. In just half a year, it has dropped by 20 points. Currently, 45% of oil exports from Saudi Arabia to China are settled in other currencies. Iraq just allowed local currency payments last month, and the proportion of non-dollar payments in trade with China has surged past 60%. Iran is even clearer: from 2026 onwards, 100% of oil exports to China will not use U.S. dollars. And the third number, which is the most important, is 27%. The proportion of gold in global official reserves has surged to 27%, surpassing U.S. bonds at 22%, making it the world's number one reserve asset. What does this mean? It means that since the collapse of the Bretton Woods system, this is the first time gold has successfully reclaimed its position as the world's number one reserve asset. Why is this happening? Why is the strong petrodollar system cracking? Simply put, at first glance, one might think it's due to the conflict between the U.S. and Iran, or the trend of countries reducing their reliance on the dollar. But if you look deeper, the root cause is the United States itself, which has destroyed this system with its own hands. It arbitrarily freezes others' reserves, it arbitrarily uses the SWIFT system to sanction this country or that, it arbitrarily uses the dollar as a weapon. Doing it once or twice, people might tolerate it, but if you do it often, who wouldn't be afraid? Today you seize a state's money, tomorrow you might seize mine. No one wants to entrust their lives and assets to others. Coupled with the U.S.'s own budget deficit problem, which is growing day by day, with debt ballooning to over $39 trillion. The interest alone to be paid annually is over $1 trillion. They can barely afford to pay the interest. Everyone is starting to feel uneasy, thinking, "I hold so many U.S. bonds. What if one day they become worthless paper? Will America resort to printing money to pay its debts and pass the burden onto me?" This point is very important. Another main reason is that after the United States revolutionized oil production from shale, it transformed from an oil importer to an oil exporter. The benefits that were once tied to oil-producing countries in the Middle East are no longer as deep as before. In the past, America needed oil from the Middle East, so it had to protect Saudi Arabia. But now, America can produce its own oil and is even competing for the Middle Eastern market. The promise of military protection is therefore no longer as strong. Today, I will tell everyone honestly that the petrodollar system will not collapse overnight. The dollar will still be the world's primary reserve currency, and no one can replace its status in the short term. But the direction has been set. The cracks have appeared, and these cracks will only widen. There is no way they will heal on their own. This is a major decade-long trend, not just a temporary event that will end in a few months. Speaking of which, the most important question is: how does this shaking petrodollar pillar relate to the gold in all of our hands? Think about it. Oil is the primary demand that anchors the U.S. dollar. The whole world must exchange for U.S. dollars to buy oil. This is the pillar of dollar power. When this pillar shakes, the demand for dollars decreases, and the credibility of the dollar will gradually erode. And if the credibility of the dollar declines, who will pick up the baton? It won't be the yuan, it won't be the euro, because any country's currency, in its essence, is just paper. It carries the risk of being frozen or printed to excess. The only thing in the world that can pick up the baton is gold. Because gold is a currency that all countries, all cultures, and all religions worldwide have accepted together for thousands of years. It has no nationality, no one can freeze it, it cannot be printed at will, and it does not require any government to guarantee it. This is why central banks worldwide are quietly buying gold. They are not speculating on gold; they are hedging their country's reserves, preparing for the next era of the global monetary system. Look at this. Recently, the conflict between the U.S. and Iran has escalated to the fullest extent. Why has the price of gold surged? At first glance, one might think people are buying gold for safety. But if you look deeper, the market is pricing in the cracks in the petrodollar system, pricing in the long-term decline in the credibility of the U.S. dollar. Short-term price fluctuations may just be market sentiment, but the long-term trend is the result of the massive capital that central banks are pouring in. Even financial institutions on Wall Street have changed their tune. JPMorgan Chase says the current volatility in gold is just a temporary pause in a long-term bull market, with no structural factors to change the long-term trend. Goldman Sachs, although it lowered its year-end target from 5,400 to 4,900, still insists the market will be bullish, stating that buying pressure from governments will support gold prices throughout. Furthermore, an investor nicknamed the "short god of Wall Street" has openly stated that the major bull market for gold has just begun. Alright, I have explained all the reasons. Now comes the question that many people want to know the most: since the era of gold is upon us, what should I do now? Should I go all in? I must answer: absolutely not. Going all in is the behavior of a gambler. True investors want investments that allow them to sleep soundly. Today, I will share three principles for investing in this major cycle, from mindset to practical application. I guarantee they will be tangible and very beneficial. Principle number one: Do not use the mindset of playing speculative stocks for a major trend. Many people invest in gold, buy today, and want it to skyrocket tomorrow. If the price drops by just 3%, they panic, become paralyzed, and ask everyone if it has reached its peak and whether they should cut their losses. This is the thinking of those who chase news-driven stocks. It won't work for gold. You must understand thoroughly that this gold bull market is not driven by rumors or trends. It's not because the U.S. and Iran are fighting, and it's not because the U.S. Federal Reserve will lower interest rates. These are just catalysts. The true underlying logic is a historic currency reset in decades, the cracks in the petrodollar system, and central banks worldwide rushing to buy gold. This is a decade-long trend, not a short-term fad that will end in a few months. Look back at history. Every time there has been a major change in the monetary system, gold has experienced a long bull run of 10 years. After President Nixon closed the gold window, gold prices took 10 years to rise by more than 20 times. Or, after the 9/11 incident, gold had a long bull run of 10 years. This round has only just begun a few years ago. Do not use a short-term speculator's mind to try to make money from a global trend. Otherwise, you will be shaken off the train. Many people do not profit in a bull market because they are too clever. They spend their days trying to buy low and sell high, only to throw themselves off the train. Principle number two: Do not move your core holdings haphazardly. The most common mistake in a major trend is what? It's taking a small profit and rushing to sell. Many people, when they see gold prices rise by 10% or 20%, quickly take profits, put the money in their pockets to feel secure, and even delude themselves into thinking they are skilled at buying low and selling high perfectly. But in the end, after selling, the price keeps rising. The more it rises, the more they are afraid to buy back, and they end up watching the bull market run its course. They only made a pittance, or sometimes they can't resist chasing at extremely high prices and get stuck at the peak. What you need to be careful about is that in a major trend, your core portfolio is meant to be held for the long term, not for trading. You can allocate a small portion, say 20-30%, for playing rounds, buying low and selling high for fun. When the price drops significantly, buy more. When the price rises sharply, sell to reduce costs and sharpen your skills. But the majority of your core portfolio, once bought, should be left untouched. Do not stare at the screen every day. Do not move it back and forth. The more you move it, the more you miss. Fees and price differences will eat away at your profits before you know it. When your mental state collapses and you fall off the train, it's not worth it. No, some people argue, "Can't I sell first and wait for the price to drop before buying back?" The problem is, how will you know when the price will drop? In many major trends, it runs without looking back. You wait for a dip, but you wait in vain. What you will see is only the price continuously rising. Instead of trying to guess the highest and lowest points, wouldn't it be better to hold your core portfolio tightly and let the profits run on their own? Principle number three: Always keep cash reserves to wait for extreme opportunities. I have never advised everyone to go all in, no matter the situation. You must always leave yourself an escape route. The currency system reset will not be a smooth, rosy path. Along the way, there will be extreme volatility, major corrections, and even traps that lead to sharp declines. There will be all sorts of bad news flooding in, causing you to lose your composure. There will be economists announcing that gold has reached its peak. There will be talking heads on screen predicting that the gold bubble has burst. What is this time? It is a golden opportunity for you to buy cheap. Think back. In 2008, gold dropped by 30%. In 2020, gold also dropped by 20%. Every sharp decline, in the end, history has proven to be the most beautiful entry point. But the crucial condition is that you must have cash in hand. By holding cash while others are panicking and cutting losses, you can comfortably buy more. You can smile and profit while others are crying. If you went all in from the start, even if gold dropped to a bottom, even if the price became incredibly cheap, you could only watch helplessly because you would have no money to buy. That is the most painful thing. The market is never short of opportunities. What is scarce is patience and cash in hand. Do not be afraid of falling off the train, but fear that when the opportunity arrives, you will be stuck at the peak with a full portfolio or no money left at all. Many people invest by chasing prices, buying when expensive and selling when cheap, staring at candlestick charts all day, following news and trends. They work tirelessly every day but still don't get rich. Why? Because you are too busy looking at the waves but failing to see the direction of the current. Let me tell you a simple truth. There is no government in the world that can resist the temptation of printing money. To wage war, you must print money. To distribute welfare, you must print money. To stimulate the economy, you must print money. And if you can't afford to pay your debts, you must print more money. As long as this rule remains, as long as the cracks in the petrodollar continue to widen, as long as central banks worldwide continue to buy gold, the long-term value of gold will remain steadfast. As for short-term fluctuations, they are just noise. Today the price drops 2% because the U.S. Federal Reserve signals hawkishness. Tomorrow the price rises 3% because the U.S.-Iran conflict intensifies. These things are not important. What is most important is whether you see the big picture clearly and whether you are holding your portfolio firmly. Do not let short-term volatility make you falter. Do not let bad news shake you off the train in a major global trend. Holding your portfolio tightly is more important than anything else. Finally, I reiterate that all content is for market observation and information sharing only, not investment advice. This is GoHth. I wish all of you the ability to stand firm and preserve your wealth amidst the turbulent waves of the capitalist world, to welcome the golden era that is yours. See you in the next video. Goodbye.