Peter Schiff

It's gold.

And, you know, a lot of people who have taken the dollar's role as a reserve currency for granted, you know, they've done that because they didn't see a viable replacement.

They said, well, you know, the euro is not going to be the reserve currency or the yen or the RMB, but they overlook gold.

Gold, it's not in that hamper.

They keep saying the dollar is the cleanest dirty shirt in the hamper.

Well, maybe so.

I disagree with that, but even if you accept that premise, gold is not in that hamper.

Gold is pristine.

It's not dirty at all.

that's where the central banks are moving.

They're moving away from US dollars and US treasuries to gold.

And there are political reasons they're doing that too.

It's not just purely economic, but that is how the pendulum is swinging.

And to the extent that central banks are going to hold a lot more gold in the future than they do now, without a big increase in supply of gold, the price of gold has to go up for that reason.

But as individuals and institutions,

start to realize that they also need to have exposure to gold.

That's going to increase the demand for gold.

No.

I mean, maybe a small number.

Like my clients have realized it.