Q2 has been another extraordinary period for the gold price, driven by the trade war between the US and the rest of the world, as well as the real wars ongoing in Ukraine and the Middle East. Arguably of greater significance, however, is the growing recognition of the unsustainability of the fiscal position of the US, which undermines the country’s creditworthiness and, over time, the USD’s position as the world’s reserve currency. This is good for gold, other hard assets, and Bitcoin. We mark o ....