Peter Schiff

It went sideways from 2011 to 2024, right?

And it really broke out at the beginning of last year.

And it's more than doubled since then.

Silver has finally broken out.

Silver had a double top at around 50 from 1980 to 2011.

And it just broke out this year.

Gold broke out last year.

But now you're seeing this movement out of dollars.

Foreign central banks have been huge buyers.

Because they've been moving away from the dollar.

They've been divesting themselves of dollars and buying gold instead.

Which central banks?

Well, the major central banks, other than the West, you know, you're talking about in Russia and India and China and even smaller ones, you know, Poland or various countries are buying gold.

And they're buying gold because they want to get out of dollars.

And in fact, one of the things that happened to really cause this to happen in a bigger way was when Biden was president and he sanctioned Russia.

And in sanctioning them, they basically took away a lot of their dollar reserves that they had entrusted in dollars.

And we basically pulled the rug out from under them.

We sent a message to the rest of the world that you could be next.

Yeah.

That, you know, if you hold your reserves in dollars, you're vulnerable.