China Just Killed Paper Gold.

July 24, 2026

Dear Reader,

CHINA JUST KILLED PAPER GOLD.

Not a metaphor. Not a prediction. Today. July 24, 2026.

Major Chinese banks halted retail paper gold trading, effective this morning. Paper contracts. Claims on gold. Gold they may not even have. Done. Finished. Over.

I have been warning about this for 20 years. Nobody listened. Now it is happening.

Inside today's issue:

Here is what Bloomberg is screaming about today. The oil shock. Disruptions near the Strait of Hormuz. The 10-year Treasury yield jumped to 4.71% on Thursday. Highest level since January 2025. Gold fell below $4,100. Silver tumbled 3.5%.

That is the headline. Here is the real story.

CHINA SHUT DOWN PAPER GOLD. TODAY.

The Industrial and Commercial Bank of China. The Bank of China. Multiple major state-owned institutions. They stopped offering retail customers paper gold contracts. Effective July 24, 2026. This morning.

Paper gold. The kind where you buy a claim. Where the bank writes you a contract and keeps the gold. Or, more precisely, does not keep the gold. That is the point. That is why they are stopping.

I have seen this movie before. The last time it ran, it changed the price of gold forever.

1968. The London Gold Pool collapsed. Too many paper claims. Too little physical metal. Central banks of eight countries had been selling paper gold to hold the price at $35 an ounce. Then France called their bluff. Demanded physical delivery. The pool broke. By 1980, gold was at $850.

China is not France. China is China. The world's largest gold buyer. The country that has been accumulating physical metal quietly for 15 years. When THEY decide paper gold is fiction, it is not a protest. It is a verdict.

"Until policymakers globally decide to address the rampant expansion of debt and deficits without resorting to financial repression policies, the debasement trade will likely remain a persistent feature, limiting the time and scope of corrections for gold and precious metals."
-- Paul Wong, Market Strategist, Sprott Asset Management, July 2026

Meanwhile, the debt math is getting uglier by the month. U.S. national debt: $39.5 trillion. That is 123% of GDP. Net interest alone jumped $98 billion in the first nine months of this fiscal year. A 13% increase. Year over year. The annual deficit is trending toward $2 trillion. New Fed Chair Kevin Warsh says prices are "too high." The Fed's inflation gauge is running at 3.8%. Expected to hit 4.1%.

You cannot run $2 trillion deficits, pay $1 trillion a year just in interest, and tell me the dollar is a store of value. You cannot. I tried the math. It does not work.

Gold is at $4,085 today. Down from its peak of $5,590. The financial press is writing the obituary for the "debasement trade." They wrote the same obituary in 1975 when gold corrected 50% before going on to hit $850 in 1980. They wrote it in 2008 when gold fell 30% before going on to hit $1,900 in 2011.

Here is the number that stopped me cold this morning. Not the oil price. Not the 10-year yield. What China just did. Because when the world's largest gold buyer ends paper gold contracts... there is only one reason. They know something. And they want the physical.

But before I tell you exactly what this means for you, take a look at this from our partners:

"I Bought More Gold and Silver."
— Robert Kiyosaki, July 17, 2026

Most gurus tell you what to do. Robert tells you what HE'S doing. Four days ago, he announced to 443,000 people that he bought more gold and silver during the 52% crash. Not "consider buying." Not "this might be a good time." "I bought more." Now he's revealing the ONE streaming stock he says could 3X-5X the recovery.

Go here to get the full details before this stock soars

China just confirmed what every physical gold owner already knows. The paper price and the real price are two different things. When that gap gets too wide, history shows us what happens.

The Cycle. I Have Seen It Before.

1968: London Gold Pool collapses. Paper claims exceeded the physical metal 10 to 1. Central bankers called it a liquidity issue. It was a fraud. The price found its real level.

1971: Nixon closes the gold window. "We're all Keynesians now," said Milton Friedman. Gold was $35. Ten years later: $850.

2026: China ends retail paper gold. U.S. 10-year yields 4.71%. National debt $39.5 trillion and climbing $8 billion per day. Gold sitting at $4,085.

HISTORY IS RHYMING.

The media calls gold's drop from $5,590 to $4,085 a crash. I call it a sale. I bought gold at $300 an ounce. I bought silver at $4. I was told both were dead. They were not dead. The dollar was dying.

When China decides paper gold is fiction, they are voting with their vaults. They want physical. Physical cannot be printed. Physical cannot be confiscated by a PATCH to a database. Physical is the escape hatch.

Here is what you control right now. The paper price exists. The real metal exists. The choice between owning a claim and owning the thing itself is yours to make. Physical gold. Physical silver. Real assets. Not paper. Not promises. Not an ETF that freezes when the rules change.

CHINA JUST REMINDED YOU WHY.

To your freedom,

Robert Kiyosaki

Author, Rich Dad Poor Dad

P.S. One line from last night's Summit stuck with me: the biggest fortunes rarely come from owning the company writing the checks — they come from owning the company everyone has to pay. Robert made that case in full last night. Watch the free replay here.