Mark Moss

through Hong Kong that's being settled in gold.

And they've now set up swap lines with 32 countries, almost every country except the United States.

And so now all of these countries can do business with themselves using the RMB, being settled in gold in real time, and they don't have to use the dollar network.

And so this is happening, and it's happening very, very quickly.

And the more that we weaponize the dollar and the more that we slap sanctions, the more it drives people to that network.

And so what happens is this has diminishing

returns.

And so while I certainly would love to help the people in Iran and I would love to see the United States somehow change this.

You said it needs an outside power to affect this.

The problem is, is that it's accelerating the demise of the dollar.

They're not relying on it.

It's only used as liquidity, and it's all settled in gold.

They're relying on gold.

Held in China, though?

it's not they're they're they're settling it and so it's not fully functional yet but it's rapidly accelerating it's all happening through hong kong so the shanghai gold exchange is working or partnering with the hong kong board and so it's all being used only as liquidity but again settled in gold and so we're seeing the reserve currency of the world the u.s treasury has been dropping right

from 60% down to just under 50% in just like the last decade.

But we've seen gold now rise to about 30%.

It's happening very, very quickly.

Well, China doesn't report it all, so we don't really know.

But to answer your question, nobody's going to trust Chinese currency.