The Dollar’s Replacement Won’t Be China

In 2025, the world's central banks quietly began holding more gold than U.S. Treasuries for the first time in a generation, and Jay argues this is not really a story about gold, it's the clearest signal yet that the dollar's reign has no heir. In this episode, Jay runs the numbers on every supposed successor to the dollar, China, the euro, the yen and pound, a BRICS currency, even stablecoins, and shows why each one fails the test, leaving the throne empty for the first time in 600 years. This is a look at what happens when an empire's currency begins to fade but no rival is ready to take the crown, and why central banks are quietly piling into the one money no government can print or freeze. Citations: https://rentry.co/jms-empty-throne-sources Learn to invest alongside the top minds in commodities. Join The Commodity University today. CLICK: https://join.thecommodityuniversity.com/ Sign up for my free weekly newsletter at https://2ly.link/211gx Be part of our online investment community: https://cambridgehouse.com https://twitter.com/JayMartinBC https://www.instagram.com/jaymartinbc https://www.facebook.com/TheJayMartinShow https://www.linkedin.com/company/cambridge-house-international 00:00 - Gold Quietly Tops U.S. Treasuries 00:35 - The Crown That Always Had an Heir 01:20 - Here's What No Investor Is Pricing In 02:40 - Every Currency Is Just a Story 03:40 - China: The Reflex Answer 04:30 - The Locked Bank: Capital Controls 05:30 - The Banker Who Said No (2009) 06:20 - You Can't Be the Banker Pulling Money In 07:10 - China Grows Old Before It Grows Rich 08:00 - The Euro: A Currency Without a Country 09:00 - The Yen & Pound: Warnings, Not Heirs 10:00 - BRICS: A Networking Event, Not a Marriage 11:00 - Stablecoins: A Faster Dollar, Still a Dollar 12:10 - Maybe We Asked the Wrong Question 13:00 - Gold Isn't the Answer Either 14:00 - The Day Russia's Reserves Were Frozen 15:00 - Even Washington Is Saying It Out Loud 15:50 - The Arithmetic: Why the Price Must Rise 16:50 - Gold Is the Intermission 18:00 - The Thermometer: Trust Leaking Out 19:10 - The Empty Throne Copyright 2026 Cambridge House International Inc. All rights reserved.