During times of panic selling in the market, financial institutions in various countries are quietly increasing their positions. This scene feels all too familiar.

Looking back at history, from 1950 to 1982, ordinary people were completely shut out of gold — they couldn’t buy it, nor could they trade privately. Gold has never been a product of free markets; essentially, it’s a national-level chip. If you hoard too much gold, it can easily cause trouble.

And now? Central banks around the world are doing the same — continuously, quietly, and over the long term, adding to their holdings. Essentially, they are re-pricing credit. Once the accumulation reaches a critical point, prices won’t move gradually; a sudden jump is possible. For example, suddenly rising to $15,000 an ounce.

At that point, the game rules become clear: it’s not that you’re not allowed to buy, but that you simply can’t afford to. The channels for increasing holdings will be naturally closed off, and precious metals will revert to being "assets on the national balance sheet." This isn’t the first time this has happened in history. Many people always think this time will be different, but it usually isn’t.