{"id":30365,"date":"2025-10-02T18:34:11","date_gmt":"2025-10-02T16:34:11","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=30365"},"modified":"2025-10-02T18:38:56","modified_gmt":"2025-10-02T16:38:56","slug":"golds-big-jump-lets-put-things-in-perspective","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/gold\/golds-big-jump-lets-put-things-in-perspective","title":{"rendered":"Gold\u2019s Big Jump: Let\u2019s Put Things in Perspective"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" data-attachment-id=\"30368\" data-permalink=\"https:\/\/michelsanti.fr\/en\/crise-financiere\/flambee-spectaculaire-de-lor-un-peu-de-recul-sil-vous-plait\/attachment\/gold\" data-orig-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/gold.png?fit=1640%2C1006&amp;ssl=1\" data-orig-size=\"1640,1006\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"gold\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/gold.png?fit=300%2C184&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/gold.png?fit=1024%2C628&amp;ssl=1\" class=\"alignnone size-full wp-image-30368\" src=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/gold.png?resize=1170%2C718&#038;ssl=1\" alt=\"\" width=\"1170\" height=\"718\" srcset=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/gold.png?w=1640&amp;ssl=1 1640w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/gold.png?resize=300%2C184&amp;ssl=1 300w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/gold.png?resize=1024%2C628&amp;ssl=1 1024w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/gold.png?resize=768%2C471&amp;ssl=1 768w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/gold.png?resize=1536%2C942&amp;ssl=1 1536w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/gold.png?resize=1200%2C736&amp;ssl=1 1200w\" sizes=\"(max-width: 1170px) 100vw, 1170px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p data-start=\"59\" data-end=\"134\"><strong>A 47% increase in gold prices so far this year is certainly impressive.<\/strong><\/p>\n<p data-start=\"136\" data-end=\"230\"><strong>And yet, in 2025 gold represents only 5% of total market assets \u2014 compared with 21% in 1980.<\/strong><\/p>\n<p data-start=\"232\" data-end=\"348\"><strong>Equities, bonds, derivatives, crypto\u2026 the financial universe is now four times larger in 2025 than it was in 1980.<\/strong><\/p>\n<p data-start=\"350\" data-end=\"444\"><strong>In other words, the relative share investors allocate to gold has actually declined sharply.<\/strong><\/p>\n<p data-start=\"446\" data-end=\"515\"><strong>Isn\u2019t it sometimes a good idea to take a look at the denominator?<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; A 47% increase in gold prices so far this year is certainly impressive. And yet, in 2025 gold represents only 5% of total market assets \u2014 compared with 21% in 1980. Equities, bonds, derivatives, crypto\u2026 the financial universe is now four times larger in 2025 than it was in 1980. In other words, the&hellip;<\/p>\n","protected":false},"author":4,"featured_media":30368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_crdt_document":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[648943041,648941657],"tags":[],"class_list":["post-30365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-barbarous-relic","category-gold"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold\u2019s Big Jump: Let\u2019s Put Things in Perspective - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/gold\/golds-big-jump-lets-put-things-in-perspective\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold\u2019s Big Jump: Let\u2019s Put Things in Perspective - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"&nbsp; A 47% increase in gold prices so far this year is certainly impressive. And yet, in 2025 gold represents only 5% of total market assets \u2014 compared with 21% in 1980. Equities, bonds, derivatives, crypto\u2026 the financial universe is now four times larger in 2025 than it was in 1980. 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He has just stated that yellow metal prices are expected to rise to $ 2,000 an ounce and that any\u2026","rel":"","context":"In &quot;gold&quot;","block_context":{"text":"gold","link":"https:\/\/michelsanti.fr\/en\/category\/gold"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/04\/complot.jpg?fit=1200%2C556&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/04\/complot.jpg?fit=1200%2C556&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/04\/complot.jpg?fit=1200%2C556&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/04\/complot.jpg?fit=1200%2C556&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/04\/complot.jpg?fit=1200%2C556&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":29910,"url":"https:\/\/michelsanti.fr\/en\/tariffs-2\/no-celebration-for-switzerland-this-august-1st","url_meta":{"origin":30365,"position":1},"title":"No celebration for Switzerland this August 1st","author":"Michel Santi","date":"July 26, 2025","format":false,"excerpt":"Switzerland celebrates its National Day on August 1st, but this year\u2019s festivities will be overshadowed by the imposition of arbitrarily fixed 31% U.S. tariffs\u2014punitive measures that are both harsh and difficult for the Swiss to understand, especially as they have consistently followed the rules of globalization with elegance and restraint.\u2026","rel":"","context":"In &quot;tariffs&quot;","block_context":{"text":"tariffs","link":"https:\/\/michelsanti.fr\/en\/category\/tariffs-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/07\/Suisse.jpg?fit=1200%2C439&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/07\/Suisse.jpg?fit=1200%2C439&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/07\/Suisse.jpg?fit=1200%2C439&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/07\/Suisse.jpg?fit=1200%2C439&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/07\/Suisse.jpg?fit=1200%2C439&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":24036,"url":"https:\/\/michelsanti.fr\/en\/gold-standard\/end-game","url_meta":{"origin":30365,"position":2},"title":"End game","author":"Michel Santi","date":"February 12, 2023","format":false,"excerpt":"\u00a0 The gold standard was a system where the currency of a country was linked to gold and which could materialize either by defining a certain quantity of metal in exchange for the American dollar, or indirectly through currencies having a fixed parity against the greenback. As early as 1944\u2026","rel":"","context":"In &quot;gold standard&quot;","block_context":{"text":"gold standard","link":"https:\/\/michelsanti.fr\/en\/category\/gold-standard"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2023\/02\/creation-monetaire-300x170.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":13719,"url":"https:\/\/michelsanti.fr\/en\/european-union\/the-euro-and-the-gold-standard","url_meta":{"origin":30365,"position":3},"title":"The euro and the gold standard","author":"Michel Santi","date":"October 23, 2016","format":false,"excerpt":"Well before the creation of the euro, the Canadian, Robert Mundell, was to enumerate the conditions of success for a monetary union. His works won him the Nobel Prize in 1999, precisely the year that the euro was launched. According to Mundell, a currency shared by a large geographic area\u2026","rel":"","context":"In &quot;bubble&quot;","block_context":{"text":"bubble","link":"https:\/\/michelsanti.fr\/en\/category\/bubble"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13643,"url":"https:\/\/michelsanti.fr\/en\/isil\/islamic-state","url_meta":{"origin":30365,"position":4},"title":"Islamic State: from terrorism to economic regression","author":"Michel Santi","date":"October 17, 2015","format":false,"excerpt":"The film posted online by Daech on the 1st of September last year lasts nearly an hour and appears in the style of a documentary, shows statistical data and calls upon \u201cexperts\u201d. \u201cThe rise of the Khalifah and the Return of the Gold Dinar\u201d explains the theological motives which are\u2026","rel":"","context":"In &quot;ISIL&quot;","block_context":{"text":"ISIL","link":"https:\/\/michelsanti.fr\/en\/category\/isil"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/the-rise-of-the-khilafah-return-of-the-gold-dinar-33.png?fit=627%2C335&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/the-rise-of-the-khilafah-return-of-the-gold-dinar-33.png?fit=627%2C335&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/the-rise-of-the-khilafah-return-of-the-gold-dinar-33.png?fit=627%2C335&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":13598,"url":"https:\/\/michelsanti.fr\/en\/germany\/europe-faces-its-old-demons","url_meta":{"origin":30365,"position":5},"title":"Europe faces its old demons","author":"Michel Santi","date":"March 23, 2015","format":false,"excerpt":"The European government elites are sinking into denial. Their frightened posture against public deficits and preference for strict financial orthodoxy is a reflection of an age-old tendency for self-destruction. However, the current version of this tendency is about to lead them to a nasty state of affairs. I am referring\u2026","rel":"","context":"In &quot;Germany&quot;","block_context":{"text":"Germany","link":"https:\/\/michelsanti.fr\/en\/category\/germany"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/domination-allemande.png?fit=600%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/domination-allemande.png?fit=600%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/domination-allemande.png?fit=600%2C800&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/30365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=30365"}],"version-history":[{"count":4,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/30365\/revisions"}],"predecessor-version":[{"id":30374,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/30365\/revisions\/30374"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media\/30368"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=30365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=30365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=30365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}