Philip Patrick

And I think the experiment that really started dramatically in the 80s to shift away from sound money towards government debt, that has failed.

Debt to GDP in the United States is over 120%.

It averages over 110% for the entire Western world.

And I think the world has realized the problem in many respects is unsolvable.

It's a case of slowing the pace of decline.

And we're seeing a reversion back to sound money.

And I don't think that will stop.

I think the pace will escalate.

Oh, correct.

And listen, I shared his view.

I was a banker.

I laughed at clients at the turn of the century for looking at gold.

There were so many better options.

And today, I kick myself.

And listen, I tell people, what we've seen from 1945 up until today, peace, prosperity, strength of currency, that is the historical aberration any student of currency understands.

The history of currency is a history of devaluation and destruction.

And that's why you go to countries like China.

They buy gold.

The people buy gold hand over fist because they understand in a way that we haven't up until now the fragility of currency.

But I think what we're seeing now is a reversion back to the historical norm.