Bob Murphy

My read of the situation is because even going back, like when things happened in Cyprus and whatever, that it seemed to me that if people if the news were just that, oh, the Fed's going to do more QE or whatever and thought, OK, the economy isn't like in an imminent crisis mode.

It's just we think there's more dollars that are going to be dumped in the system than, yes, both gold and Bitcoin would seem to go up.

But it seems like if there was actual.

uncertainty about like you know what what's going to happen next month then i think you would see you know people rushing to the precious metals more as like a safety you know sort of panic mode and actually maybe um you know selling off some of their crypto holdings like to raise the liquidity to be able to go do that so to me that's what and i think just intuitively it kind of makes sense that

You know, if you're picturing a Mad Max scenario, I can't imagine a world where someone's sitting on gold coins that that's not going to be valuable.

Whereas you're not as sure if you have a bunch of tokens on the blockchain somewhere in a crazy world where people are shooting each other over bottled water.

Is that going to be bad?

So I personally am bullish on both, but I can see how when things really, you know, push comes to shove that some people think,

Gold and silver are, you know, more time tested, whereas Bitcoin has a lot of convenience and certain promise for the future, but maybe is not the thing you want to run to as a refuge.

Well, I think all of the above that I really do think that we're starting to see, you know, the unraveling of the U.S.

as being the global superpower and that, you know, there's just various metrics that I think China is rivaling it.

You know, they've added,

three times as much to their naval capacity over the last five years, say, than the US has.

By purchasing power or parity metrics, the Chinese economy has long surpassed the US in terms of total output.

They've been adding to their gold stockpile.

If you look at the official gold reserves, China and also Russia, like since 2000, have vastly increased, whereas the US's official number

stayed the same as I'm sure your listeners are familiar with.

There's lots of speculation that maybe the US's numbers aren't even legitimate.

So yeah, I think on many metrics, more people are realizing that 20 years from now, it's going to be a multipolar world.

The US is not going to run the show.