US gold reserves have hit a record low. Now covering just 3 percent of federal debt. The US holds 8,133 tonnes of gold, officially the world's largest holdings. Current value is $44 billion. Federal debt is $38 trillion+. Gold covers just 3% of debt. This is a historic low. In 1980, gold covered 20% of debt. The ratio has declined for decades as debt exploded while gold stayed flat. However, the US dollar has not been backed by gold since 1971. Fiat relies on trust and taxation, not gold. Gold failed as a check on spending. Governments printed through gold's limits. Bitcoin's fixed supply and decentralization make it harder to dismiss. Bitcoin's rules apply to everyone, including governments. Gold couldn't stop government spending. Bitcoin might. The hard money game has changed.