Financial assets are essentially others' liabilities, while gold has become the only non-liability asset.

Foreign media: The vast majority of financial assets (U.S. Treasury bonds, bank deposits, Nasdaq stocks) are essentially "liabilities of others." If the assets you hold depend on the "commitment" or "solvency" of the other party to be redeemed, then they carry a default risk.

Gold is the only "non-liability asset" in the world. It does not rely on the signature of any government, bank, or company.

In 2022, the freezing of Russia's foreign exchange reserves made central banks around the world confirm a fact: foreign currency reserves held in another country are essentially "conditional withdrawal slips," not real wealth.

Original article: toutiao.com/article/1856029888527432/

Statement: The article represents the personal views of the author.