Jumat, 06 Februari 2026

HSBC's best gold traders disappeared

 
Katusa Research
 

"It's a James Bond kind of place. It's crazy."

That's how Paolo Ardoino describes where he keeps his gold.

A former nuclear bunker in Switzerland. Blast doors. Armed guards. $24 billion in bullion stacked behind Cold War concrete.

Ardoino is 41. Italian. Looks like he should be running a startup in Milan — not building what he openly calls "one of the biggest gold central banks in the world."

But here he is. Running the company behind the world's largest stablecoin.

Making $10 billion in profit last year.

And he’s spending it on something most tech founders would laugh at: Physical metal you can hold in your hand.
 

Front-run the man building a central bank – The Parallel Reserve.


Last month, Bloomberg asked him why.

His answer should stop you cold:

  • "We believe the world is going towards darkness. We believe there is a lot of turmoil."

This isn't some gold bug on YouTube. This is the CEO of a $186 billion financial institution.

A man whose company processes more transaction volume than Mastercard, and rivals Visa.

And he's preparing for something.

He poached HSBC's two best gold traders. He's buying one to two tons of gold per week. He's taking control of royalty companies that guarantee him supply for decades.

Get the #1 company we’ve identified in his crosshairs.

When Bloomberg asked if he'd slow down, he said: "Maybe. We'll assess quarterly."

That's not hedging; he’s building and bringing the world’s best metals traders onto his team.

Central banks build reserves over generations.

Ardoino is doing it in months.

The question is simple: What does he see coming that we don't?

I don't know.

But I know how to position for it.
 

>> See what stock Ardoino is targeting next <<


Regards,

Marin Katusa
Founder, Katusa Research
 
Copyright © 2026, Katusa Research, All rights reserved.
 

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