The Dow/Gold Ratio, the Golden Jubilee Cycle and How Financial Assets Will be Reset.

Monday, February 23rd, 2026.

Mano 64, home of alternative economics

and contrarian views. Well, today we're

going to look at the concept of a

financial reset, right? It's not Klaus

Schwab's great reset. And uh I've been

speaking about this even before 2020

when the great reset u

narrative came out with uh co

and uh yeah I've usually looked into the

Dow go ratio uh going back to the uh

early 1930s and I found a a cycle but I

I think we can go even further back and

It is actually

a jubilee cycle around 49 or 50 years.

7* 7. Uh yeah, really interesting. Uh

why is it interesting? Well, because it

shows us that we are very close to to

some momentous moves in in the markets

and especially precious metals in

relationship to the stock market and

also bonds.

Before I start though, just wanted to uh

let you know for my UK viewers that Gold

Investments, they have a special on 1 oz

gold bratannias. uh they've uh provided

me a link. I think it's uh Manco 64

Brits. Uh you get 1% off the offered

price on the uh on the website, but it's

only for uh

Britannis that are pre2026.

Still a good deal, I would say. Yeah. If

you want to find out more, there's some

links below in the description. in the

U. US. Of course, I'm affiliated with

Miles Franklin. Uh, I think you want to

think about

stacking more gold and silver after you

uh listen to what I have to say here

about this uh jubilee or this reset.

Um, I I think we're going into some

turbulent uh next few years. And by a

few years, I mean two to three years,

maybe a little more uh up until like uh

uh well 2031 32. And I've heard other

people talk about uh this cycle. I've

heard uh Bert Dolman

who

started out in the business in the 70s

got his clients into gold and silver and

then in 1980 told them that uh there's

be a bare market in gold and silver from

1980 to

uh 2000.

So like a

like a 20-year bare market. And then he

said a after 2000 there will be a

32-year bull market. And I've heard that

Martin Armstrong he he sees the end of

the current system u the current

monetary financial system uh like a

reset by 2032.

So um yeah this is very uh yeah it seems

to be all fitting in as I said. Uh first

of all though uh let's look at what uh

Jubilee means. And I I Googled it.

Jubilee seven years. It says that

Jubilee is a biblical 50th year super

Sabbath occurring after seven uh cycles

of seven years or 7* 749

uh defined in Leviticus 25. This year of

restoration and freedom involves freeing

slaves, forgiving debts, returning land

to original owners, and allowing the

land to rest. It acts it acts as a 50th

year reset. There you go. That word

reset.

Um,

the reason I looked at that is because I

hadn't really thought of uh the Dow Gold

racial cycle that I've told you about

as a jubilee because it I've got like a

47year cycle. Um so if you go back to uh

January 1933

uh there was a low there in the Dow gold

ratio uh just below two let's say it was

two 1.88

that was 1933

and then there was another low in the

Dow gold ratio in January of 1980. So

that was 47 years.

Uh so what I've told you in the past is

that I expect

uh some kind of reset or the Dow gold

ratio to reach some really important

levels by uh January 2027.

Um and uh what's it got to do with the

4950 years? Well, the thing is the uh

the real low in in the Dow in the early

30s was not in 1933, it was in 32.

And also um the uh the high in the

10-year yield, Treasury yield, which is

a debt. It's a debt on the public,

right? Government debt is a burden on

the public. Slaves have debt, right?

Well, the high yield was in 1981

and that means the price dropped

massively. So, the debt was written off.

So, if you take 32 + 49, you get 1981.

That's the 49year

um let's say um Jubilee.

Uh so and then if you add uh 49 to 1981

you get 2030

which is uh of course very close to

2032.

Uh if you go uh if you add 50 years to

1932 you get 1982 and then 2032.

And I've gone back as well. Uh so if you

subtract 50 years from 1932 you get

1832.

There was a panic actually in 1880 you

get 1882. Yeah 1932 minus 50 there was a

panic in Paris in the Paris bors. It did

have impact an impact internationally as

it says here uh let's see panic of uh

international context while primarily a

French crisis it contributes to a

broader milder global economic slowdown

known as the depression of 188285

so there you go and then if you go back

another 50 years from 1882 you get 1832

that's when the war between Andrew

Jackson and the Second Bank of the

United States started uh of course you

had the crash, the panic of 1837, but it

started around there 1832. And if you go

back 50 years from 1832,

you you get around 1781,

1782.

And what happened in 1781? Well, the the

continental dollar uh basically

collapsed, became worthless. There's a

saying of of course not worth a

continental. Uh its nickname was shin

plaster. What what it's telling me is

that u yeah the debts are going to be

forgiven. And how how is that going to

work out? Well, it has all to do with

gold because the higher gold goes, the

uh less valuable the debt becomes.

And that's why I think we are for some

very interesting times. The the Dow gold

ratio is like a symptom of of that. And

that's why I think we're going back to

at least one one as you can see from

this chart uh of the Dow gold ratio that

I've got is it is getting lower and

lower. It was down down around two 1933

down around one in 1980.

So it could go to half to one. What

would that mean? That would mean that

you would only need half an ounce troy

ounce of gold to buy one Dow.

Uh it makes a big difference one to one

or half to one.

And I Yeah. So I I think uh it's going

to be a turbulent chaotic time not just

financially, monetarily and economically

but also socially and I think by 2032

uh everything will be reset and uh

yeah having gold will free you in in my

opinion. Um and it will free the country

uh in general, the United States. It

will also free the West because our our

debts are going to become worth well

kind of worthless. So

the other thing that I see the central

banks are doing is that uh they're going

to try to keep uh debt levels elevated.

Uh and they're going to do that by yield

curve control.

Uh it's like they're going to try to

fight this uh jubilee,

but ultimately uh gold will make sure

that they're not successful because gold

will devalue the value of the debt. So

yes, uh you might see uh the long-term

yields cap below 5%.

But it's just an illusion. They they'll

become worthless. Um yes in terms of

real money i.e. gold and silver what

what kind of levels am I looking at for

for gold in terms of this one one versus

the Dow well it's difficult to say you

know it it could be anywhere I would say

between 25,000 and 50,000. Who knows? It

depends on on what the central bankers

try to do. But one thing's for sure,

uh,

our national debts, uh, in the west are

going to be wiped out in terms of value,

right? And then, um, we'll be ready to

go on a another credit cycle uh, in from

2013 onwards. So that's how I see it and

that's why I think it's really important

to keep a hold of your physical gold and

silver.

Of course, sometimes people might need

need to liquidate it for emergency.

I'm not saying you have to hold on to it

and suffer, of course, but I I think it

will go a long way to um

helping you and your family go through

this uh jubilee era

and uh you'll come out of it uh yeah, I

think in very good shape. Uh but of

course this is not like a a getrichqu

scheme. It's not like uh being greedy.

It's about value I think. And uh you

need to keep uh things in perspective.

You need to not change the way you live.

You need to be productive. Live within

your means. Uh yes, be a upstanding

individual I guess in terms of relative

to other people. Yeah, because you can't

think of this as uh yeah, I'm going to

get rich quick, you know, and uh yeah,

greed is always bad, but I think it it

will be rewarding though. It's uh 7:36

a.m. London time. Uh what's happened

overnight uh in the markets? Well, uh,

gold got up to 5177. That was the high.

It's come off a bit now. We're at 5130.

It's still up 25 bucks. Silver, uh, got

up to 87.88. So, it's still very choppy

because we're now back down to 8530.

Uh, of course, this week will be really

important to see what happens. Visav uh

the ComX uh registered inventory and how

many uh yeah how much

how how many uh millions of ounces are

going to stand for delivery for uh from

the 27th right um and of course this is

all very short term in the longer term

as I said I think it's the place to be

um

yeah you just need to think of it in

terms of 3 to 5 years. I think uh we're

very close to some kind of uh big event

as I said some jubilee and I think this

time around though uh gold will come

back into the system

um yeah it went out of the system uh it

wasn't in the well it went out of the

system domestically in the early 30s uh

it stayed in the system internationally

and by 1980

it was out of the system completely and

we had a bare market for 20 years. But I

I think uh the powers that be are going

to realize that it's got to be back in

the system. So that's why I think um

when we get to like one one th Dow gold

ratio or wherever it will be it will

stay up there. It's not like uh because

gold is going to become a part of the

system and we're seeing that already.

Central banks around the world are

ddollarizing. Dolorizing means just

dreasurization

because treasuries are not backed by

anything. They're fiat and so are all

other government bonds. So yeah, that's

how I see things. How about the stock

markets? How are they doing? Well, the

Dow is down about 220 points at 49,400.

So, yeah, we're comfortably below 10 to

one in the Dow gold ratio. I I think

it's going to be a very fast collapse.

And I say fast because,

you know, we topped in 1999, the Dow

Gold ratio. We bottomed in 2011, then

they kicked the can down the road and we

had this correction since 2011. in the

Dow Gold ratio and now it's catching up

because yeah, you you can try to

manipulate things and kick the can, but

eventually uh you won't be able to do

it. And that's how it's uh translated.

It's translate translated in the much

faster uh move. Um yeah, the S&P uh is

down 37 at 6873.

uh it was down as much as 60 points

earlier and the NASDAQ 100 future that's

down 160. I guess that's all in the back

of this new

tariff of 15% uh global tariff uniform

for all countries. Uh there is uh some

act of congress I don't know exactly

what year it's from. I think 1974 that

allows the president

to put this tariff on and but it's only

for 15 months. So, uh that's the only um

like u difference between his previous

tariffs which were part of deals. Uh so

anyway

uh with that I'm going to wish you all a

very good day. Take care. Bye.