treasury diversification is the overlooked driver of treasury policy: reading the Tether Gold tape
The healthier setup is alignment: options skew improving while spot ETFs stays orderly.
Risk is easiest to ignore precisely when it is most expensive.
Even when feeds obsess over “Tether Gold Passes KPMG Audit: Can It Beat America’s Biggest Gold Fund?,” the durable question remains process versus prediction.
Attention jumps quickly; capital moves more slowly.
When options skew and spot ETFs disagree, sizing down beats inventing a clever story.
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