ONE DAY THERE WILL BE NO OFFER — ONLY A BID

What happens when paper stops clearing and liquidity vanishes?

In a world where debt has swollen far beyond historical precedent, the gold/S&P ratio becomes more than a chart — it is a stress indicator of the system itself. As liabilities expand toward quadrillions, equity markets depend increasingly on liquidity rather than fundamentals, while gold quietly reasserts its monetary role.

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