Every few months a familiar macro story resurfaces:Central banks are selling U.S. Treasuries and loading up on gold.Some argue this represents a historic regime shift a slow motion exit from the dollar system and a structural bull market for gold. It’s a great narrative.It’s also deeply incomplete. The reality is far messier, far less dramatic, … Continue reading Why Central Banks Aren’t “Dumping Treasuries” And Why the Gold Narrative Is Overstated