Debt

The financial world may be on the verge of a regime change. Financial repression, thought to have been relegated to the past, is making a discreet comeback through the Japanese door. The Tokyo authorities are already trying to manipulate the yield curve by adjusting the supply of debt, hoping to...

The year 2025 is likely to be the year of crisis: the United States must refinance $9 trillion in debt — a quarter of its total outstanding — while financing an annual budget deficit of $1.9 trillion. A veritable debt wall. And then there's Japan, France, and so on. Will there be sufficient deman...

Governor Ron DeSantis signed a bill Tuesday to recognize gold and silver as legal tender in Florida, paving the way for their use in financial exchanges.

The gradual disappearance of structural buyers of sovereign debt - central banks, Japan, pension funds - ushers in a new era in which debt is no longer “free by design”, but must once again become desirable in a competitive universe. In this new context, physical gold is regaining its role as a s...

When the bond market, and in particular that of US sovereign bonds, becomes unstable or loses investor confidence, it's not just bad news for financial portfolios: it's a crack in the very foundations of the global financial architecture.

In case of a loss of confidence in the sustainability of the US budget, physical gold, already considered a safe-haven asset, could emerge as the ultimate systemic safe-haven, outperforming all other asset classes in times of global monetary disorder.

With Donald Trump’s inauguration, uncertainty in international politics, geopolitical dynamics and the financial markets has increased significantly. It remains to be seen how long this phase. What is certain is that gold is benefiting from the increased uncertainty.

As debates rage in the US over the future trajectory of the economy and markets, the continuing rise in the budget deficit remains a major source of concern. It is precisely this worrying trajectory of public debt that gold seems to continue to follow closely, helping to explain its current surge.

While Spain, Portugal and Italy are pulling out of their massive public deficits — Italy's public deficit has been cut from 8% of GDP in 2022 to 3.4% in 2024 — France continues to sink and is now Europe's sick man.

Donald Trump's recent change of tone on tariffs, like his unexpected softening towards Federal Reserve Chairman Jerome Powell, highlights an often overlooked reality: the real balance of power isn't played out on the political stage, but in the workings of the US debt market.