新加坡The Reserve金库接纳全球资产东移 现货金价破4800美元

新加坡The Reserve金库迎全球资产东移 现货金价破4800美元 面对美债危机与中东地缘冲突引发的全球滞胀风险，实物贵金属因无对手方风险成为老钱与新贵构建财富备用方案的核心防御资产。 视频深入探秘了新加坡私人金库The Reserve的超强承重结构、UL Class 2安全门及离线信任机制，展现了地缘政治动荡下黄金白银“东移”新加坡的宏观趋势。创始人Gregor Gregersen结合美债危机、中东氦气和化肥供应链中断以及特朗普关税等现实因素，预言全球正滑向类似1970年代的滞胀深渊。在此背景下，实物贵金属凭借无对手方风险的硬通货属性，正成为全球富豪对抗金融系统重置、进行长期资产避险的终极选择。 新加坡私人金库 The Reserve 存放着价值 15 亿美元的实物金银，其建筑承重为普通停车场的 45 倍，核心金库达到 UL Class 2 防盗标准，并采用全物理离线系统与唯一序列号核验，彻底杜绝黑客篡改和“一金多卖”漏洞。 (0:00) 在现货金价突破每盎司 4,800 美元、美债危机失控及中东战火蔓延的背景下，全球财富加速向新加坡迁徙，The Reserve 的贵金属存储订单同比激增 88%，且高达 90% 的新订单来自新加坡境外。 (14:52) 2025 年美国关税担忧引发金融机构紧急从英格兰银行调运黄金回国，导致伦敦实物交割连续数周瘫痪，部分机构甚至被迫承担高达 100 美元/盎司的溢价，彻底暴露了西方“纸黄金”体系在实物挤兑下的流动性缺陷。 (23:45) 白银在光伏与半导体产业具备不可替代的刚性需求，已连续 6 年出现每年 2 亿盎司的供给缺口；面对日益严峻的滞胀与金融断裂风险，建立独立于银行系统的实物资产“Plan B”正成为投资者的防御共识。 (26:16)

新加坡私人金库 The Reserve 创始人 Gregor Gregersen 认为，在美债危机、地缘冲突与通胀阴影下，全球金融系统面临重置风险，促使避险资金由欧美传统中心向亚洲实物贵金属迁移。该机构以高度戒备的离线金库与防范“纸黄金”挤兑的机制，为全球高净值客户构建应对极端危机的资产“Plan B”。 重防物理架构与序列号绑定的实物信任 (0:00) The Reserve 耗时 16 年建立，内部存放价值约 15 亿美元的实物黄金与白银。为承受超重负荷，建筑核心区域地面承重达 90 kN/m²，是普通停车场的 45 倍，最大可容纳 10,000 吨白银。其金库采用 UL Class 2 标准，由 30 吨特制装甲板六面互锁构成，配备防钻孔自愈材料和玻璃碎裂永久自锁机构，且所有资产与客户数据均保持物理离线以防黑客入侵。 针对贵金属交易中一金多卖的行业信任隐患，金库建立了一对一实物核验流程。大规格金条通过官方唯一序列号与客户绑定，小规格金条则封装在独有编号的防篡改袋中，确保客户随时能够提取属于自己的实物，彻底隔绝依赖金融中介信用的纸面凭证风险。 供应链脆弱性与滞胀风险驱动黄金东移 (14:52) 地缘政治动荡正迅速冲击脆弱的全球产业链。例如，中国台湾超过 70% 的半导体级氦气依赖卡塔尔单一设施，该设施受损后预计需耗时两到三年修复，直接加剧了台积电与三星等芯片巨头的产能危机；叠加中东化肥供应受阻以及美国新关税政策，全球经济被推向类似于 1970 年代的滞胀困境。现货黄金价格突破每盎司 4,800 美元的同时，The Reserve 的存储订单同比激增 88%，且 90% 的新订单来自新加坡境外。 瑞士信贷被收购削弱了苏黎世的避险声誉，中东局势恶化亦削弱了迪拜的安全性。相比之下，新加坡凭借雄厚的财政储备、依赖外资信任确立的产权保护机制，以及拥有 42 万可动员军队的独立防卫能力，成为欧美和中东资本建立防御性头寸的核心目的地。 纸贵金属交割漏洞与白银的结构性短缺 (23:45) 2025 年美国关税政策的不确定性引发了黄金跨洋调运潮，暴露出纸黄金市场的实物储备缺口，一度导致英格兰银行金库交割瘫痪数周，部分机构被迫支付高达 100 美元/盎司的溢价。白银市场同样存在严重脱节，金融巨头在期货交易所抛售相当于全球矿山一年半产量的纸面白银空头压低价格，而线下实体产业却面临严重的现货短缺。 白银具备不可替代的工业刚性需求。作为光伏面板的关键导电介质，白银可将面板使用寿命维持在 25 年以上。然而，全球超过 70% 的白银仅为其他金属开采的副产品，扩产周期长达 5 至 12 年。市场连续六年出现年均约 2 亿盎司的供给赤字（占年产量的 20%），LBMA 自由流通白银现货仅剩约 2 亿盎司，实物挤兑风险持续累积。 防范系统清算崩溃的极端变现逻辑 (34:01) 针对全球银行系统冻结、SWIFT 中断甚至主权国家将黄金国有化的极端设想，Gregersen 提出实物黄金不依赖于任何对手方信用。一旦西方金融通道受阻，投资者仍可通过第三方清算网络或加密货币进行价值跨境交割，最坏情况下也可以直接前往新加坡提取实物。 Gregersen 坦言，押注金库业务源于对欧美半世纪以来财政赤字、基础设施老化与福利透支等系统性弊端的悲观预期，认为秩序重组难以通过软着陆实现。即便在 1982 至 2007 年的黄金低迷期，其年化回报率仅有 2% 到 3%，但在货币持续超发的长周期下，配置无对手方风险的实物硬资产依旧被视作对冲极限风险的兜底底牌。 节目主持人特别提示，金库创办人对宏观经济的悲观预测及对金银的看多与其商业利益高度绑定。但其借用海豹突击队“Two is one, and one is none”的备用哲学表明，在去全球化摩擦加剧的背景下，寻求主权信用体系之外的“Plan B”多元资产配置，正成为抵御极端系统性风险的现实课题。

[5:00] Gregor Gregersen: So if you see in the movies why sometimes they open the door very slowly it's not because it's heavy but because there is a security measure inside... [10:00] Gregor Gregersen: You basically bring the five bars down, show you that here, you can take delivery of it... [19:53] Gregor Gregersen: They are going to fight over this Helium. No matter what, there going to be a lot less chips being made which means the price has to go up... [23:45] Gregor Gregersen: The big crash in the case of silver for example was all driven by paper sales... they sold something like one and a half years of silver mining production without providing any real silver. [39:03] Gregor Gregersen: Two is one, and one is none

[0:00] I know where the gold and gold are safe. Because it's heavy. One, two, three. No way! Oh my god! I should be able to hold it. 30 kg of the ring条 is about $7,000. Don't look at it like a big one. I need more exercise. And in the other one, the ring条 is also very heavy. Still very heavy. I can do the weight lifting with the most expensive weight lifting. And a 12.5kg of this one, a gold-fine is worth about 200,000 euros. And the gold-fine度 is bigger than the gold-fine. If it's the size of the gold-fine, the gold-fine is about 60kg. So I think the gold-fine is not real. Even if you've overcome a lot of safety, this game is also worth it. It's not too far away. Hello, everyone. Welcome to Grig谷101. I'm Txin. So this is my first time to look at the Singapore's largest金库 The Reserve's little bit of a little bit of a chapter. Here we are actually just to look at this why the market market is now especially the old money started to catch up with the gold and gold and gold like the traditional gold This two of the gold coins are almost too much and the gold coins are not too much and Singapore whether it gold or gold为什么大家又开始囤贵金属了我们专访了The Reserve的创始人兼CEO Bagger Gregerson贵金属最好在一个危险我们这年过去年有300-400%增加我们希望再次再次增加电脑费增加食物升至上氧气升至上氧气升至上氧气升至上你会有缺乏在一个危险自然的金钱和金钱会永远值得值得你如果错了如果世界没有太多金钱这个视频就跟我一起走进位于新加坡的这座全球最大私人金湖也聊聊黄金白银等贵金属全球资产迁移以及资本都在压住一个如何的未来首先我想先带大家来看看The Reserve的构造这是在新加坡张艺机场旁的一栋六层楼大厦它看起来平平无奇但是里面存放着15亿美元的黄金和白银而这个全球最大私人金库之一的缔造者 Gregerson Bullion Bullion建一座实物资产的诺亚方舟我们在设计2,000含到2,500含先来带大家看看银库我们从前台登记到进入银库的整个过程经历过了恩善门和身份的认证不愧是全世界最难入侵的地方之一这里有500个闭路摄像头人员陷阱门激光探测振动传感器动作传感器还有辅助警察助手等等这是秀赫金它是团成2,5含的狗是一名的UR1D,所以它可以在30分之中所以每次我们进入一个散散的地方需要两人从一个家庭的房间可以开门 Oh okay there another layer Yes So sometimes because when one of our staffs are actually working inside because it requires two person that why there is actually one more door as a second layer of defense to prevent people from coming in. Oh, I see. Okay, so right now I'll require my colleague. Alright, let's go. Oh wow. The metals cap over here are only in silver. That is a requirement from the insurance. So at our main silver, we are capable of storing up to 10,000 tons of silver. Right now, you can see over here the capacity is approximately 30% of it. So what you can see over here, we actually segregate the different types of metals. So for this, these are all silver coins. And you can see this is the biggest form of silver. Yes, it's called the LBMA Good Delivery Bar. It weighs approximately 1,000 ounces. It's about 30 to 31 kilos. Every individual pieces are all owned by an individual client. Some might be owned by one client, but every piece, there's ownership. I see. Every piece of bar is individually recorded. So for us, [5:00] 我们在安全房间知道我们在哪里的室内所有东西的资料都在外面所以没有办法接到电脑才能够接到电脑因为电脑今天是非常贵的公司整个营库非常的震撼脚底是32米深的地基向上看是一个32米高的巨型库房灯光从巨大的架子上投射下来每一个架子上都整齐码放着银条这栋楼的前身是一座自动化的电子元件工厂Burgerson用4年的时间把它打造成了一个工程奇迹这建议是非常特别的你能保证保持安全和安全这是1997年一个电子公司的建议当时他们用了重工程的工程他们在2017-2018年移动这建议是在售价最初的价钱是$28万,但我们其实获得到$10万的价钱那是一个很好的价钱在三年后我会很高兴建议我认为我们在建立的价钱是楼盘因为你所说,金和银和银和银是很重的所以,不算是空间的费用但你能够把价钱 The spices building was the floor loading because as you mentioned gold and silvers are very heavy. Right. And so oftentimes it's not the amount of space you need but how much weight can you put on the ground before it starts cracking. A normal car park for example is 2 kilonewtons in floor loading. Our floor in our main area is 90 kilonewtons. So we are 45 times stronger than a car park and because of that I can put about 9.5 tons of weight in one square meter. And so I can stack my silver 12 meters high. And that means that I'm very, very efficient compared to most other places. And that gives us a 10,000 ton storage capacity. Over here, there's no air conditioning. Yeah, it's very hot here, should we be sure? Thanks for wearing the jacket for us. I mean, probably I'm really very used to the working environment over here. Because to air condition this whole place of 32 meters requires a lot of air conditioning and power. conditioning and power. So it's actually not a very economical thing for the company to actually do it. And in fact, if a silver is being exposed very long under aircon, it will actually oxidize even faster. Some of the bars already showing the blackness. Yes, because this is a natural reaction of a silver when it comes in contact with the atmosphere. But gold is okay. Yes, gold will never change color. But it is very normal.因为这个是一种自然的反应它是在环境中的反应但是金色还不错是 金色会不会改变色但是金色是很普通的是 金色会改变色但是它仍然是金色我明白而对于金库来说因为黄金密度更大价值更高并且不需要像银库这么大的空间但是安全性的要求会更高要达到保险公司要求的UL Class 2金库标准也就是能够将入侵者阻挡一个小时这里我们要进入是个个票这是一个 上一票 上一票 上一票能够以兴趣的选择从在到一场上的票同样的事 如果我们进入一个散场我会有自己的配合约纸我的同事会在一个个票中的处理OK所以这个门是小一点,但它是一半厘的,哦哇是是它很厉害,甚至是要去折?你可以试试哦,它是OK它是OK但是它是很难以为它是一半厘的?一半厘的,是如果你看到电影,为什么他们会开门很轻松不是因为它很重但是因为有安全的安全术 So if you see in the movies why sometimes they open the door very slowly it's not because it's heavy but because there is a security measure inside okay we cannot break it because otherwise the door will be locked shut permanently yes so this door is a one-time disposable door which means once it is permanently locked we cannot go in we have to wait for the certified contractor to actually come down remove the door and replace the door only then business will continue Oh I see So what kind of circumstance will make the door locked? Round pin? So if let's say today somebody tries to break in they can use the best tools, best drilling tools they start to drill Firstly of course it will actually trigger our security alarm sensors Alright, and then once they start drilling, there's a very thin glass, it will break. The door will permanently lock shut. Oh, okay. And today, if they successfully even drill a hole, alright, the moment when they pull out their drill bit, the hole will be covered. And then they will have to spend another hour drilling. Oh, the hole will be covered. [10:00] Yes, there are some materials inside. Okay, this is a security feature that it will just back the silver. I see, I see, I see. Interesting, wow. Very expensive door, I guess. Oh, so this is a gold wall? Yes. I thought it's something similar to the silver wall, no? So you can see the silver wall is at least more than 10 times bigger than gold. Yeah. Because gold is actually so small. the bigger piece is also up to 400 ounce which is about 12 and a half kilos yes okay and uh most retail clients what they purchase is up to one kg gold bar okay so probably we can show you something over here so because gold is not in a very big form we actually created a pigeon holes like that okay to efficiently store them i see so one box can probably take up to 16 kg worth of gold and platinum and then over here they are all manually being placed inside and record as well. So as I mentioned all data over here are actually all offline. I see Yes okay So if you are wondering why per box we are only putting 16 kilos because firstly there is no machinery It all hand carried by us We have to set a safety guideline that will not endanger the stuff Imagine if it's putting up here, it's a 30 kilo box and it's going to be very dangerous. How can you guarantee the security for this room? This gold vault, okay, you can see it's actually just aesthetically very nice. but if you strip down everything, you can see it's actually a six-sided panel and they are all pieced individually I see So these individual panels, they are all locking individual panels which prevents people from putting in a spy cam and secondly, each panel, they all have to go through a certain strict requirement to actually obtain this UL class 2 security writing which means there are some materials being used. It has to meet the requirements and they will be tested before the certification issued to them. I see. So this is actually a six sided cage over here. Yes, ceiling, the floor and four sided walls. The panels must be very heavy, right? I guess. Yes So the entire structure of this gold vault alone it weighs about 30 tons 30 tons Yes And the metals that can be stored in this vault over here is up to 60 tons Okay怎么样带大家看了金库和银库还有配套的安全措施是不是觉得大开眼界但是对于The Reserve这样的管理者来说比钢筋混泥土更重要的是信任机制那么创始人Gragerson就说这个行业里面最大的问题不是盗窃而是一根金票被卖给了五个客户我们也有测试的我们有测试的测试我们有很好的保证我们只能够保证所以我们是最重要的我们做到的当这个销是有优点你可以到达到你可以说我想看我的五码 You basically bring the five bars down show you that here you can take delivery of it and it essentially a Boolean So the bigger gold bars they have a serial number So you buy the bar by serial numbers Some of the smaller bars, they don't have one, but we put it in a Tampa Evident bag with a serial number, and then you buy the serial number associated with it. But you always have a specific item. And that's very important because if you don't have that, then you don't know maybe this bar has been sold to five different clients. How do you know? Because that's something that happens a lot in the industry. If people don't check, say, small print, they think they own something, when in reality, it's a liability. And the seller can sell it many times over. So we wanted to make sure that that can never happen Because in times of crisis, you might have an ugly surprise and some ways Well, we've seen the金库 and the银库 We'll talk about these precious gold资产 behind the past So the very basic question is Why in 2025 and 2026, the gold gold became the world's most precious assets? This is the Iran's plane from the Tibet and the Harifat塔 even even to the 7th century This makes the same way to the 7th century [15:00] 以及打造成中东安全天堂的努力功亏一篑一度泛船酒店成为全球奢华代名词棕立岛上一栋接一栋的豪宅在沙漠里拔地而起还有自由港 币圈圣地等等这些标签甚至我有朋友想在迪拜投资房产但是金融中心从来不只是一堆高楼大厦和豪华酒店它的底层是一个简单的问题就是在这片土地上的财富到底安不安全当伊朗和以色列的对抗一次次升级当导弹和无人机的射程把整个海湾都纳入打击范围当美国也被卷入这些冲突当中全球的家族办公室无论是老钱还是新贵都在重新审视自己的资产分布这就引出了一个更大的问题在2026年的这个时点什么才是真正的安全而这些资本又回到了传统避险资产黄金等贵金属的身上截至我们写稿的时候现货黄金价格已经突破美扬司4800美元同时The Reserve的存储订单同比激增88%贵金属销售飙升200%90%的新订单来自于新加坡以外的地区Gregerson给出了一个宏大的历史框架来解释这一切这是一个典型的Ridelius的帝国周期论 And we believe that we are now at that stage where we are switching to something else because of three primary reasons. The amount of debt the United States has is becoming completely unsustainable. And there's no clear answer on how to pay for these expenses. You have more geopolitical conflicts that are happening now. And you have internal disruptions within the countries. And these three factors are usually the type of things which are precursors to a reset of the system. And in times like this, people choose to go to physical gold and silver because there's no counterparty risk. If the US dollar or the euro or another currency were to collapse, gold will still be valuable. And you don't have to rely on a bank or somebody else for it to be valuable because you can own it. And so you don't have jurisdictional risk.你不必要靠近一个公司或别人为它是值得的因为你能赢所以你没有规则的危险你没有几个危险你没有几个危险你没有几个危险这会让它是最好的东西当中有一个危险Gregerson的框架的三个支柱很清晰美国债务不可持续地缘政治冲突加剧还有各国内部的秩序逐渐适合而在这种潜在的系统重置前黄金和白银因为没有对手方风险成为了最后的信任锚点在1981年,16%的所有金融资本在美国的英国是财产的财产。现在是1%的,所以我们有很长的路程,而且财产财产最好在财产。他们最好是有财产财产,因为我们现在在中央的中央,我们有营业营业营业, best in a crisis. They do best when you have a stagflation. And because especially what's happening now in the Middle East, we're having energy disruptions, we're having food disruptions because one third of all fertilizer is coming from the Middle East. And most of the helium that is used to produce semiconductors in Taiwan and in South Korea is coming from that area. So all of these products are going to go up in price because it will be less and less of them, which will cause inflation to go up. As inflation goes up and growth isn't there, you're going to have stiflation. And so we are entering in a situation which is similar to the 1970s. Ray Dalio also mentioned that. And that means that it's probably going to be a very interesting time for precious metals. And I think right now it's still a very small number of people which are actually buying physical and understand these ideas. But that is increasing quickly. And so we had a 300-400% increase, for example, this year or last year. and we expect to be double set again this year 1981, the American's all 16% were placed in the gold, and gold and gold now the number is not 1% if the history is really being重 the demand for the market is just starting Burgers said that the current state of the country's climate crisis is影响 of the farthest this is the one that has been a lot of people to think of the [20:00] The first thing is that the Chinese government is producing 1% of the 1% of the carbon and 1% of the carbon dioxide. majority of the helium from Qatar. Taiwan is getting over 70% from Qatar from one facility. And that facility was damaged recently. So there's almost no helium coming out from Qatar anymore. And this might be the situation for the next two or three years because Qatar said this might take two or three years to fix. If 70% of the helium supply for Taiwan is not there, where are all the Nvidia ships built? It's all coming from Taiwan. And Taiwan is going to have to compete with South Korea like Samsung, are we going to use this Helium to make Nvidia chips in Taiwan or are we going to use it to make Samsung phones? They are going to fight over this Helium. No matter what, there going to be a lot less chips being made which means the price has to go up So now we have electronics having to go up We have food going up We have electricity going up And we have gasoline going up and gas going up You're going to have stagflation. And then you have Trump with the tariffs on top of it and all the other trade imbalances and problems we're having. So it's very clear over the next five to ten years we are going to feel the after effects of the...石油涨 天然气涨 化肥涨 粮食涨 氦气断供 芯片涨 电子产品涨再加上特朗普的关税叠加效应这已经远不是一两个行业的问题了而变成了一条从中东地缘冲突延伸到了全球消费者钱包的完整通胀链条 Gregson的结论很明确未来5-10年世界正在进入类似1970年代的滞涨期这个时期显著特点就是股票不行 债券不行 房地产不行 The only one that shows the资产 is the stock market. Let's look at the stock market. In 1971-1982, the gold is from 35 USD to 1980. The price is 850 USD. But in a few days, people will buy stock market? Yes, definitely. Because I think people used to call Bitcoin the digital gold But Bitcoin has certain advantages But at the end of the day when you go into a big crisis countries will go back to gold to back the currency So we'll not back it with Bitcoin. Central banks are buying gold in order to have reserves to be able to trade with each other. Gold is still going to be that foundational sort of safe heaven, which is sort of common sense for everybody. And now it's just a question of how many people are starting to become distrustful. of the testing system. And once they start become distrustful, and they start researching into it, they realize that it doesn't make sense to buy a financial product that is based on gold. You don't want gold exposure or price exposure, you want to own the physical. And it says people from all walks of life right now, which are starting to understand this and coming into this market. Gregerson just said,金库的客户通常倾向于长期持有黄金, 70%的客户从未出手过 And the gold market is still in the middle of 4.2 years. So this is not a short-term investment for the gold market. It's a long-term investment tool. And a new problem is that the gold market is still in the middle of 1.2 years? Why the world people are turning to the gold market In the 2025 year the gold market market is a huge fan特朗普威胁对进口商品加征高额关税一度不明确黄金和白银是否在争饰的范围内于是所有人都开始疯狂了从伦多往美国搬运15黄金英格兰银行的金库连续数周无法正常交割但是这场混乱暴露的不只是物流问题但还揭开了全球黄金市场最大的秘密就是绝大部分交易都是纸黄金背后呢并没有足够的食物去支撑 there's a lot going on here first of all it's not that the bank of England didn't have the gold it just takes a certain amount to get it out right and people were panicking people were panicking but you have to understand why they're panicking they were panicking because in the United States the institutions they don't have much gold他们主要有纸币的纸币这些纸币的纸币四次每年或是你必须要做出品所以在COVID一些银行不可以买银行因为他们没有太多财所以他们需要买银行在COVID的飞行不成功所以他们不可以买银行他们有得买银行在美国 [25:00] get their delivery requirements. And in some cases, they had to pay $100 above spot. They lost millions and millions of dollars because they couldn't get the gold out of London. Now, when Trump said, we are going to put tariffs up, and it wasn't very clear on what, and it wasn't clear whether gold and silver would have tariffs. Well, he was talking about 30% tariffs or something like this. If you take a gold bar, and it's $3,000 per ounce, and you have to pay $1,000 to get it in. That's a lot of money. and the bank in the US has to do a delivery without any tariffs, that's a huge problem. So everybody starts rushing and saying, I need to get my gold from London to the United States just in case we're going to have tariffs on both gold and silver. And so a lot of gold rushed over to the US in preparation for that. And essentially, that's what happened. And that was one of the reasons why we had the silver crash, the silver shortages. in England in October 2025, because so much silver went to the US, said now there wasn't enough in London. And that why in October they had to rush the silver back to London in order to not default You can imagine that the world largest exchange exchange这个小插曲其实是整个纸黄金问题的一次重要暴露而这条裂缝不止出现在黄金市场白银市场的纸面操纵更加的出目进行这是因为银和银货等价钱都在金银货量中这些银货量都不会影响到货物的货物在金银货有关, 有没有银货量供给工药不允许地供用购物和其他货物的货物所以价钱都总共有了很多银货物由美国,由 ComEx可以回到 London的电池能够付出 enough银索但在整个年来,每年有少少银索所以,时速度过外出,价值得上以为顾客的高度但价值不断,这些低于是不断上现时,可以上升 So these are some of the factors which recently have been pushing precious metals up And then we had this big crash The big crash in the case of silver for example was all driven by paper sales This was not people selling physical silver. It was people selling leveraged short positions into future contracts. And it's my understanding they sold something like one and a half years of silver mining production without providing any real silver. So the price of silver ended up falling, but we couldn't get any physical silver because of just paper pushing it down. And so you end up with shortages. And these shortages then ultimately cause the premium of silver to go up. And ultimately, they're going to cause the price of silver going up again because if there's not enough physical, prices have to go up. A year of the world's gold in a purely pure-fledged-like black-fledged-like, and it didn't provide a real-fledged-like gold. The price was destroyed, but the market was not able to buy gold. This is the only thing that is used to use gold in the market. From the supply chain, gold is more dangerous. You take something like solar panels, you need silver, because if you were to use copper it would start to rust oxidize and the solar panel might only last for 10 or 12 years but if you use silver you can use it for 25 years and that why you cannot remove silver you can reduce silver but you always have to have it similar story if you make a cpu and you know you need some of that silver whether the silver is going to cost you five cents or 50 cents or even five dollars you still need to use that silver so the demand for silver is inelastic meaning even if the price go up, you still need to get that silver. At the same time, the supply of silver is also inelastic because there are almost no silver mines out there. Most silver is produced as a byproduct of nickel, of tin, and other metals like this. And if the price goes up, it takes 5 to 10 to 12 years for new production to come online. And so it's very hard to increase that production. As a matter of fact, over the last six years, we had deficits every year. And the deficits can be very high. We had an average of 20% of all silver used was deficit. The supply was around 1 billion ounces. Deficit was 200 million ounces, which means 20%. Now, if you go back to the LBMA system, LBMA system only has 600 million ounces roughly. So they have about three years of deficits. Of that amount, a lot of it is already taken by private owners, which means there's only about 200 million of free floating. That is the silver. [30:00] 而全球三大交易所的食物库存正在同步枯减The Reserve一家私人金库存储的白银有600吨比上海黄金交易所的全部白银库存还多这说明全球系统里面的食物金属正在迅速的流失在这样的背景之下自今正在用脚投票从伦敦和苏黎市流向新加坡那么金库管理人员就告诉我积增的流入新加坡的实体白银和黄金需求把所有工作人员都累坏了那是一番的最狼的时间那几个大部份有在那一段时间上在那一段时间中,我们只有七部七部份有关的小部份是的那是很厉害的练习一整个一天很厉害 Seven staff who can carry the silver bar? Yes. Wow, that's a lot of exercise for each one of you that day. It's crazy. We just pushed through the thing. The traditional Chinese financial center is being attacked. Except for London's problems,瑞士 in 2023 also got a problem.瑞士信贷 entered a危机, and was sent to UBS. Did you see clients who have been storing gold in Zurich decide to move it to Singapore? We did not see a big change, because at the end of the day, Credit Suisse was acquired by UBS. So most people did not lose money in all of this. But we have seen a gradual shift where I think people which are having most of their wealth in Switzerland might say maybe I shouldn't keep it all in Switzerland. And also Switzerland tends to be quite expensive. So I think there is a low flow out of Switzerland. But that's not anything drastic. like Switzerland, I think still has a relatively strong currency and a strong position, so we don't see an exit is out, but there is some flow.日新的落幕没有引发恐慌性的撤离,但是它开始让越来越多的人开始思考,也许不应该把所有的鸡蛋放在一个篮子里面,而Gregerson给出了新加坡之所以成为替代选项的三个根本原因。So why Singapore? So geopolitically, what makes Singapore interesting, there's three primary reasons. Singapore is very wealthy. If you're going to store your gold in times of crisis, you don't want to store it with a government which is heavily in debt. The next point is, all that wealth that Singapore has, has come by building confidence with foreign investors. And these foreign investors brought some money in and so on. Now, if Singapore were to nationalize gold or betrays that confidence in some way, it's economics worse. The third factor is Singapore is neutral. Singapore does not really have any big enemies and it is well defended. Singapore is considered a medium sized army. We can raise an army of 420,000 or a military budget. It's three times that of Malaysia. It is not a city state like Monaco, which doesn't have much defense. It's actually well defended. And so if you want to store your gold for the next 10, 20 years in one place, Singapore is one of the best places. And it is one of the few countries which will be trusted both by China and by the United States And these are all good reasons for Singapore A lot of the security of the world is not limited to its own It is limited to the country's government's constitution and the stability of the world's constitution and the ability to keep the power of the world The question is, if it really falls For example, the fina如果真的天塌了比如说银行系统冻结SWIFT被切断一些国家比如说美国政府举个例子宣布黄金国有化那么一个身在德国的客户怎么把存在新加坡的黄金变成着急要用的钱呢如果有黄金的起源,如果有黄金的交易像是假如肖俩贷值广虚的危惧 或者其他贴金属于贸易贷值广虚的影响购物或贴金属贷值广虚的有质量和贴金属于抹凭失贷值广虚的运动如果购物或贴金属比的话 如果你实质在德韩部加上,你能拿到它那会在哪里的情况下如果是用监制的监制如果是用监制的监制如果是美国的监制而你不能用监制的监制可以用监制的监制中国的监制或可能需要用监制或是用监制的监制这些都是各种各种选择因为最重要的事情在那一段时间的货币,货币,货币,货币会永远的货币会很值得货币 [35:00] more valuable in a crisis because people don't trust other things. So finding a way on how to transfer some of that value, worst case with something like Bitcoin, but it depends on the receiver. If Bitcoin is an option, but does the receiver, the client, actually use a Bitcoin? If it sends to Germany, can you use a Bitcoin to give to somebody else? These basically are some of the questions, but essentially because the physical gold is separate from all of this, any of these options that are available at that point, you know could be used or the client could fly here takes a gold himself Gregerson just told me he spent 16 years to prepare for the financial崩溃 this is a story of a crazy story but if the financial崩溃 has not happened the world's development will not be so bad so you've been betting your entire career on one thesis which is the physical gold will face more demand and the price will continue to go up But we've seen some correction of the gold prices recently. What if you're wrong? What if the world doesn't need that much gold? You know I not even that big a fan of gold or silver necessarily in normal times But the issues we are facing now are issues which we created for 40 50 years When I started Silver Bullion in many ways it was because I was upset I was upset at European and American politicians because we had strong countries, especially in Europe. Most people now that their kids are going to be worse off than their parents. We have pension systems which cannot be funded. In Europe, same thing in the US. We have Medicare. Our infrastructure is decaying. So many bad decisions was made. Things are bad. These problems need to be solved for there not to be a crisis. But there is no way of solving them. You created this over 40 years, all my life experience, living and growing up in Europe in the United States and coming to Singapore ultimately, has basically taught me that we're in a period of decline in the West and there has to be this reset. So I don't see any scenario where this can be solved other than through a crisis. And if the crisis is coming what you hold gold and silver makes sense Now there are different phases in history when gold and silver is not that interesting Between 1982 to 2007 gold was quite boring There was a time when the US dollar was strong, stock markets boomed, economy was doing quite well overall, and gold only appreciated maybe 2-3%. Now, gold will always appreciate because you're measuring it in US dollars and they're always going to print more money, even in good times. It's just when you go into a crisis period Then it's going to You know, go up in value a lot more So even if, you know The worst case scenario doesn't happen Gold and silver is still not going to be a bad investment But assuming such big crisis And a systemic crisis will happen And I don't see any way how it cannot happen Then it's very important for people to own At least a little bit of gold and silver This behind the more big picture is Singapore is in the world's exchange of the exchange of gold and storage. The architecture of the foundation of the foundation of the foundation has a strategy which has a key to the exchange of the exchange and the storage of the power of the exchange. Who can be able to be in the new秩序 of the world? There is a saying, two is one, one is none. Meaning that the gold or silver you put in a jurisdiction like this is meant to be your backup plan So in case things go wrong have a little bit here have a little bit here所以这会有很多的意思可能在过去我认为新加坡不是很认为金融合而它变得更多它只能让金融合成更加自然那么在片子的最后我们必须要声明我们的节目不构成任何的投资建议Gregor Gregson作为私人金库的创始人他对黄金和白银价格的看多以及对宏观经济的判断本身和他压制的业务是强相关的所以也请大家理性地看待这期节目他的观点我们也只是从一个信仰黄金作为安全资产的角度给大家展示一下这一派人物他们的想法和信念而对于Gregson本人他是一个从德国到意大利到美国再到新加坡的人他形成了一套自己独特的世界观并且用几乎半生的经历和这座金库物理性的表达了他对这个世界的判断你完全可以不同意他但是呢The Reserve 88%的储存订单增量是实施90%的新订单来自海外也是实施也许最值得我们思考的不是黄金能够涨多少而是呢Gragerson反复提到的那句格言2 is one and one is none那么这句话呢出自于美国海报突击队 [40:00] 强调的是如果你只带了一件关键的装备ONE那一旦它坏了你就陷入了零NONE的一个劲敌如果你带了两件那么其中的一件坏了你手里面还有一个ONE可以持续的战斗那么这座金库想要传递出来的信号是面对未来的不确定性大家可以想想两件装备和Plan B的备用方案那它可以不是黄金它可以是其他你认为任何安全的信用资产但是呢把鸡蛋放在不同的篮子里面这件事情至少呢对一些人来说正在变得越来越重要了好了那么以上就是这期视频的全部内容了我是陈倩你们的留言点赞和转发是支持我们贵国101做好深度科技和商业内容的最佳动力那我们就下期视频再见了Bye