Peter Schiff

Not purchasing American, not buying American bonds, offloading Treasury bonds, not holding as much in terms of dollar reserves.

Central banks have reduced their amount of dollar reserves.

That is a separate piece, which really reflects the sort of –

shrinking power of the U.S., the fact that a lot of countries are very unhappy with us and the way we run the global financial system, the increasing realization that we are not in the unipolar moment anymore, countries wanting to protect themselves from our ability to completely manipulate their financial system.

And

I, you know, the part of Peter Schiff's analysis there that I'm skeptical of is I don't know that it happens in this big collapse all at once, but you can see this sort of slow and steady erosion moving in a direction away from the U.S.

being the central player in and, you know, the one and only central player in the global financial system.

Yeah.

And from the sound of it, P is very unhappy about all of this development, which I understand.

Let's go and put B3 up because I actually think this relates to the Trump account block that we're about to do here.

So I really had to sit with this one for a while to figure out whether this was any meaningful in any way.

But.

Basically, people have been sharing this chart, and this isn't like, you know, a new invention that people use, but people track the stock market not only valued in U.S.

dollars, but also, okay, compared to the value of gold.

And so this person says, if you measure the stock market in gold instead of in dollars, the U.S.

stock market has basically collapsed.

Now, I mean, this makes logical sense when you consider how...

How much gold has gone up in price?

It has vastly exceeded the returns, the increase in returns on the stock market.

So that's the relationship that is being tracked here.