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The author argues that the world is at a turning point between geopolitical and monetary arrangements, and that the current period is a Local, inflationary cycle in which savers face financial repression and gold and Bitcoin are the assets to hold. Using a historical framework, the author contrasts the 1933 to 1980 Local cycle, when gold ownership was banned, with the 1980 to 2008 Global cycle, when stocks outperformed gold. The author states that since 2008, Pax Americana has again defaulted and devalued the dollar through quantitative easing amid proxy wars, and that Bitcoin's blockchain ledger makes it a stateless alternative to gold.