Recently, a metric has been closely warning the market—the Dow Jones to Gold Ratio. The history of this ratio is quite interesting; over the past 130 years, it has only experienced three decisive turning points, each marking a reshuffle of the global wealth landscape.

The 1929 Great Depression, the 1966 stagflation crisis, and the 1999 dot-com bubble—these three milestones all occurred when the Dow to Gold Ratio experienced critical reversals. And now, the fourth signal has appeared—the ratio has broken through the long-term trend line of 45 years from a high of 22.5.

Historical data shows that once this ratio truly shifts, the consequences can be quite intense. The Dow could face a decline of over 90% relative to gold, while gold could see multiple times the gains. This is not just talk—during the three major turning points in the past, whether in environments of inflation, deflation, or stagflation, gold outperformed US stocks.

What does this reflect? A deeper transformation is brewing. The real underlying theme is the global debt problem, not the superficial hype around AI concepts. Smart money in the market has already begun to act quietly, gradually shifting from "paper assets" to tangible value. Silver has already started, and gold is gathering momentum. The upgrades and iterations of crypto assets like ETH also, to some extent, reflect the market’s re-recognition of "real value anchors."

The turbulence in the crypto market and macroeconomic uncertainties all point to the same question: Are you going to stick to your old asset allocation approach, or are you going to proactively position for the new trend?