When the early decades of the 21st century are chronicled, future observers may marvel at the odd distractions that kept us pretending the world was stable, even as the global economic foundations shifted beneath our feet. Exhibit A: Coinbase’s two-minute musical advert released in July 2025, titled “Everything Is Fine”, cheerily depicted Britons navigating leaky roofs, collapsing ceilings, overflowing rubbish and rats, all while one singer proclaimed the streets “can’t get no cleaner nor the rat meat any leaner,” another bemoaned £100 fish fingers, and a wealthy couple casually declared, “We’re off to Dubai, it’s time to jump ship.”
Coinbase’s CEO framed it as a critique of an inflationary financial system, decrying bans by entrenched interests and asserting crypto offered an antidote to systemic rot. But in reality, the UK’s ad regulator did not ban the advert. It merely declined approval because it lacked risk warnings, making the censorship narrative as made up as the £100 fish finger.
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Still, the ad resonated. Britons are indeed under financial strain. The Bank of England, in a recent decision, cut interest rates to 4 percent, a two-year low, but warned headline inflation would climb to 4 percent by September and food inflation to 5.5 percent by Christmas. It also flagged that Chancellor Rachel Reeves’s national insurance rises and minimum wage increases were feeding into food prices. All of this is politically awkward for Reeves, who is under pressure to fill a £50 billion budget gap, and a cautionary moment for Governor Andrew Bailey, who stressed that rate cuts could reignite the inflation they aim to tame.
Gold in the Midst of Inflation and Policy Theatre
This is where gold quietly enters the conversation, not as a cure-all for the fact that millions cannot heat their homes or put food on the table, but as a counterweight to the monetary decisions fuelling this cost-of-living squeeze. Owning gold does not make the supermarket bill smaller. It does not dry out the damp in a rented flat. But it does serve as an anchor in a system where the value of cash is steadily eroded and policy “solutions” risk making the problem worse.
Here lies the irony. Some of the very architects of the current inflationary pressures, the central banks, are insulating their own balance sheets with the very asset they rarely encourage the public to hold. It is like the captain of a ship assuring passengers the vessel is unsinkable while quietly making sure there is a lifeboat reserved for himself.
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The Distractions and the Silent Accumulation
While the media fixates on whether Reeves’s policy mix will work or whether Bailey is being too cautious, something else is happening quietly. Central banks are increasing gold reserves, reducing dollar dependency and preparing for a more multipolar currency landscape.
Gold does not rely on quarterly forecasts or political promises. It does not care whether the UK inflation target is hit by 2026 or not at all. It remains outside the financial plumbing that politicians and policymakers can tweak, and sometimes break. It has a track record: a low correlation to other assets, steady performance in inflationary cycles, and immunity to both algorithmic errors and sanctions lists.
An Honest Admission, Not a Panacea
It is crucial to be clear. Gold is not a magic bullet for poverty, housing crises or food insecurity. But it is an honest admission that the current financial system is unstable. For households that have some capacity to preserve savings, however modest, gold is a hedge against the risk that policymakers will once again get it wrong.
Central banks already understand this, which is why they quietly act on it. For everyone else, the question is whether to hum along with the “everything is fine” chorus, or to acknowledge that sometimes the smartest move is to take a leaf out of the captain’s book and know where the lifeboats are.
Everything is fine, until it isn’t. And gold will still be there when the music stops.
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