He argues the bond market has effectively taken control from the Federal Reserve, leaving policymakers trapped by America’s debt burden. He sees mounting evidence that governments, central banks and sophisticated investors continue accumulating physical gold while retail investors remain distracted by speculation. Commercial real estate, subprime lending and private credit have largely escaped the scrutiny that publicly traded assets receive every day. Andy argued that investors spend far too much time focusing on the Federal Reserve while ignoring the Treasury market itself. Conventional wisdom says investors sell everything, including gold and silver, during the initial panic.