Philip Patrick

And when risk assets grow up, you're supposed to move to stable ones.

But with over $1 trillion in annual interest costs, $38 trillion in national debt, and a Fed that's

clearly divided on the path forward, those safe haven assets today are now looking risky.

So I think the crypto crash is really a stress test for the entire financial structure.

If the riskiest corner is collapsing and the safe corner isn't truly safe, it's telling us something very important.

Investors are running out of places to hide.

within the financial system.

And when risk assets crack and safe assets wobble, you need a third category assets outside of the system.

And I think that's why the global rotation

into gold will continue, not because of fear, but I think because investors are finally starting to realize that it's the system itself that is the risk.

And I think gold will continue to see a pickup.

So, yeah, it was a bad month and a bit for crypto, but I think there's a lot worse to come, unfortunately.

It started in 22, so third year heading into the fourth, and it's picking up, not slowing down.

It was literally, and you've had her on your show, Saliha Motion, what was her book, Paper Soldiers, how the weaponization of the dollar changed the global empire.

She was absolutely correct.

The second we seized Russia's assets, that was the catalyst for central bank's.

to start dumping dollars and buying gold.

And obviously, policy since then has escalated.

But it started in 22 with the seizure of Russia's asset.

And you've said it many times.