Tokenized gold exposure via XAUT

Every reserve currency handoff in 600 years had an obvious successor waiting in the wings before the old king even faltered. This time the wings are empty. That's the throughline in @jaymartinBC's "The Empty Throne," and the way he walks through each candidate is worth 15 minutes of anyone's time. China RMB → capital controls cap outbound transfers at $50k a year. You can't run the world's bank with locked doors. The Euro → 20 countries, 20 bond markets, no single asset for the world to hoard. The Japanese Yen → the BOJ owns nearly half its own government's debt just to keep rates from breaking it. Stablecoins don't solve it either. Still dollars underneath, still freezable by the same authority that freezes dollars (or maybe intentionally not, iykyk) What's picking up the slack is the one asset with no government standing behind it. Gold went from 9% of global reserves in 2008 to 27% by the end of 2025, overtaking Treasuries. None of these are the successor. But there are ways to capitalise on this via on-chain alternatives, esp. if you're bullish on gold. > $PAXG and $XAUT alone carry a combined market cap north of $4 billion, with the wider tokenised gold segment near $6 billion and Q1 2026 growth outpacing physical gold five to one. > @Theo_Network's thUSD goes further, generating yield off a delta-neutral gold carry trade rather than just tracking spot price. Despite the empty throne, on-chain gold exposure is one of the more convincing setups I'm watching right now.