WORLD

The End of the Dollar Era? Why Paul Wong Sees ‘Bretton Woods III’ and a Golden Future

Sprott’s Paul Wong explains why the shift to Bretton Woods III is inevitable and how gold will serve as the ultimate reserve asset in a fragmented global economy.

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6 months ago

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The Fragile State of Global Finance

In an era defined by increasing geopolitical friction and the fraying of long-standing trade alliances, the global financial landscape is approaching a critical turning point. Paul Wong, Market Strategist at Sprott Asset Management, argues that the current monetary order is no longer sustainable. As the world transitions from a unipolar system dominated by the U.S. dollar to a multipolar reality, the necessity for a robust, non-correlated monetary reserve system has never been more apparent. Wong suggests that we are witnessing the inevitable birth of what experts call ‘Bretton Woods III.’

Understanding Bretton Woods III

The concept of Bretton Woods III, originally popularized by strategist Zoltan Pozsar, describes a fundamental shift in the nature of money. If Bretton Woods I was defined by the gold-backed dollar and Bretton Woods II was characterized by ‘inside money’—or debt-based assets like U.S. Treasuries—then Bretton Woods III is defined by ‘outside money.’ This new phase prioritizes tangible, hard assets over promises to pay. According to Wong, as the global economy ‘breaks up’ into competing blocs, nations are increasingly wary of holding the debt of other countries as their primary reserve, fearing both inflationary debasement and geopolitical weaponization of the financial system.

Why Gold Stands Alone

In this shifting landscape, gold emerges as the preeminent candidate for a neutral reserve asset. Unlike fiat currencies or government bonds, gold carries no counterparty risk and cannot be printed at the whim of a central bank. Wong emphasizes that gold is the only asset that ‘stands alone’ because it is not someone else’s liability. In a world where trust between nations is at a multi-decade low, the objective value of gold provides a stabilizing force that paper assets simply cannot match. This intrinsic value makes it the perfect anchor for a fragmented global economy that requires a universal medium of exchange that transcends political boundaries.

Central Banks Lead the Charge

The movement toward this new monetary order is already visible in the behavior of global central banks. Over the past two years, central bank gold buying has reached record highs, particularly among emerging market nations seeking to diversify away from the U.S. dollar. This trend is not merely a hedge against inflation but a strategic move toward sovereignty. By accumulating gold, these nations are building a foundation for a future where their economic security is not entirely dependent on Western financial infrastructure. Wong notes that this systemic pivot is a clear signal that the world is preparing for a monetary system where physical commodities play a central role.

The Implications for Investors

For investors, the transition to Bretton Woods III represents a significant departure from the investment strategies of the last forty years. The traditional 60/40 portfolio, which relies heavily on the inverse correlation between stocks and bonds, may struggle in an environment where inflation is persistent and debt levels are soaring. Wong suggests that a monetary reserve system based on gold will likely lead to higher floor prices for the precious metal. As institutional and retail investors follow the lead of central banks, the demand for gold as a ‘portfolio insurance’ policy is expected to intensify, potentially leading to a long-term bull market for the asset.

A Necessary Evolution

While the transition to a new global monetary system is likely to be volatile, Paul Wong views it as a necessary evolution. The imbalances inherent in the current dollar-centric system—ranging from massive debt loads to trade deficits—have reached a breaking point. Bretton Woods III represents a return to fiscal and monetary reality, where value is measured in something tangible. As the ‘world breaks up’ into localized power centers, gold remains the only asset capable of providing the liquidity, safety, and independence required to navigate the coming economic storm.

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WORLD

Diplomatic Efforts Mount as Kyiv and Moscow Host U.S. Envoys Amid Continued Fighting

U.S. envoys Steve Witkoff and Jared Kushner held talks in Kyiv with Volodymyr Zelenskyy after meeting Vladimir Putin in Moscow to discuss ending the war.

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2 hours ago

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September 6, 2026

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U.S. Negotiators Travel to Ukraine Following Kremlin Discussions

American envoys Steve Witkoff and Jared Kushner arrived in Kyiv on Sunday by train for two rounds of discussions with Ukrainian President Volodymyr Zelenskyy. The visit, which marked the envoys’ first official trip to Ukraine, followed a three-hour closed-door meeting with Russian President Vladimir Putin in Moscow on Saturday. Witkoff described the Kyiv discussions as substantive and encouraging, while Kushner noted that U.S. President Donald Trump is focused on establishing conditions for a durable peace beyond ending the current conflict.

Focus on Winter and Regional Security

Addressing the negotiations, Zelenskyy stated that Ukraine’s objective remains a just peace that prevents future aggression. A senior Ukrainian official, speaking anonymously, revealed that talks heavily centered on navigating the upcoming winter. Further discussions scheduled for late Sunday were set to involve national security advisers from Germany, France, and Britain. In Moscow, foreign policy adviser Yuri Ushakov called Saturday’s talks constructive and useful, noting they covered economic matters and potential joint U.S.-Russian projects alongside battlefield assessments.

Overnight Strikes Persist Despite Capital Pause Agreement

Although Putin and Zelenskyy agreed to suspend strikes on each other’s capital cities during the negotiations, combat continued elsewhere overnight. Russian attacks across several Ukrainian regions resulted in one death and at least 10 injuries, including a 74-year-old man killed by drone strikes in Zaporizhzhia and seven people wounded in the Khmelnytskyi region. Ukrainian air forces reported intercepting 82 of 108 launched drones and six missiles. Meanwhile, Russian authorities reported one fatality and one severe injury from a Ukrainian drone attack in the Belgorod border region, with air defenses downing 258 Ukrainian drones across 14 regions, Crimea, and adjacent seas.

Public Reactions and International Appeals

In Kyiv, citizens gathered at 9 a.m. for a daily nationwide moment of silence to honor fallen soldiers. Nataliia Lipei, 67, whose son was killed in late 2022, expressed hope that the meetings in Moscow and Kyiv would end the bloodshed. Conversely, 27-year-old video editor Oleksandr Pastukhov voiced skepticism, questioning whether the delegation could effect real change following past short-lived ceasefires. Internationally, Pope Leo renewed his call for peace during his Sunday prayer at St. Peter’s Square, expressing hope that resumed diplomatic efforts would produce concrete results.

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HEALTH

Penis Enlargement Surgery, Confirms Death of Influencer Igho Ubiribo

Coroner rules UK influencer Igho Ubiribo died from a fatal pulmonary embolism following a cosmetic filler injection at a Thai clinic during a vacation.

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1 day ago

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September 5, 2026

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Inquest Links Death to Hyaluronic Acid Injection

A fatal pulmonary embolism killed 43-year-old British-Nigerian businessman and influencer Igho “Tiny” Ubiribo following a cosmetic procedure in Thailand, a U.K. coroner has concluded. An inquest held at Inner West London Coroners’ Court revealed that cellular material matching the injected filler was discovered inside his lungs during a postmortem examination. Coroner Jean Harkin officially ruled that the cosmetic treatment directly triggered the fatal blood vessel blockage.

Timeline of Events in Bangkok

The incident occurred in March while Ubiribo was on a luxury trip to Bangkok with his wife, Danielle Simba Allen. At an unnamed local facility, he received a 40-milliliter injection consisting of lidocaine and hyaluronic acid into his penis. Shortly after the procedure, while receiving a massage at the couple’s Marriott hotel, Ubiribo reported chest pain and lost consciousness twice.

Although he was conscious enough to answer initial medical inquiries upon arrival at Sukhumvit Hospital via ambulance, he passed out again before doctors could administer a recommended CT scan. Medical staff identified a pulmonary embolism and moved him to the intensive care unit. Despite over 100 minutes of continuous CPR, Ubiribo died early on March 6.

Profile and Industry Context

Ubiribo, who was also known as Denisi or Ego, maintained a social media following of roughly 185,000 on Instagram and was recognized for a lavish lifestyle. His assets included a $600,000 London apartment and a $1.1 million property located in the Crenshaw neighborhood of Los Angeles. He married Allen, a socialite and fashion designer, during a 2022 wedding in Zimbabwe that cost $473,000. Following his death, he was buried in London in a gold coffin reported to cost over $745,000, with attendees including music star Davido and Cubana Chief Priest.

Hyaluronic acid treatments of this type can cost up to $9,000, with effects lasting between six and nine months. Medical experts in urology from the U.K. have previously issued warnings regarding potentially devastating complications associated with these procedures.

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WORLD

Why Prince Harry’s Project on Princess Diana and Marriage Rumors Are Drawing Attention

Reports suggest Prince Harry’s UK return involves a Princess Diana movie project, amid claims of tension with Prince William and marital challenges.

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1 day ago

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September 5, 2026

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Reports Link UK Return to Princess Diana Film Project

Multiple explanations have emerged regarding why Prince Harry and Meghan Markle returned to the UK. While some sources pointed to Harry being homesick or attempting to save their marriage, a report by the Daily Mail indicates another driver was Harry’s wish to produce a film about his late mother, Princess Diana.

Journalist Richard Kay noted that Harry has reached out to friends and acquaintances of Diana to request contributions, a project expected to occupy much of his focus over the coming year. However, these actions have reportedly caused tension with Prince William. Kay observed that William experiences intense frustration over Harry’s efforts to claim Diana’s legacy and use the Spencer brand to separate himself from the House of Windsor.

Rumors of Relationship Strain and Potential Custody Disputes

These reports follow claims regarding difficulties in Harry and Meghan’s marriage. Sources speaking to insider Rob Shuter’s Naughty But Nice reported that the relationship faces severe challenges, with Meghan reportedly believing the marriage cannot be saved and feeling emotionally detached.

Insiders added that if a separation occurs and Harry remains in England while Meghan stays in California, a dispute over their children, Prince Archie and Princess Lilibet, could follow. Sources indicated that while Meghan might compromise on other issues, she would actively contest child custody. Conversely, another source noted Harry would also fight to avoid becoming a long-distance parent after already losing his royal status and family relationships.

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