The Moment That Should Be Setting Off Alarms In the fall of 1978, gold was getting destroyed. The Shah of Iran imposed martial law. Tehran was burning. Chaos in the streets. And gold—the asset everyone assumes protects you during crisis—dropped 22% in weeks. Investors panicked. Dumped positions. Declared the trade dead. Twelve months later? Gold exploded over 300%. I think about that moment a lot right now—because what just happened is almost a mirror image. The Setup Nobody Is Reading Correctly Gold peaked hard. Then Iran tensions flared. And instead of doing what the mainstream “experts” said it should—rally—it collapsed. A brutal drawdown. Roughly 25%. Sentiment went from euphoric to outright despair in weeks. The kind of emotional whiplash that…
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