July 24th: The Day China Reveals Gold’s Real Price

China is shutting down paper gold. On July 24, 2026, some of the largest banks on Earth — ICBC, the Postal Savings Bank, Ping An — stop letting their everyday customers trade it, all in the same narrow window, and Jay argues this isn't about protecting investors from volatility. It's the moment China starts finding out what gold is actually worth. In this episode, Jay traces the setup back to a room inside the Bank of England where, in March 1968, the floor physically gave way under the weight of the gold stacked on top of it — the same week a defended paper price collapsed into two prices and a whole new monetary system. This is a look at what happens when the paper price of gold breaks away from the real metal, why central banks are quietly trading their U.S. Treasuries for bullion at a record pace, and how China built the machine to force the question on purpose.

Citations: https://rentry.co/jms-floor-gave-way

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00:00 — The Banks Shutting Down Paper Gold

00:55 — The Official Story, and Why Jay Doesn't Buy It