Philip Patrick

I think the dollar is not going to go like that.

There'll be peaks and troughs.

But I think long term, the trend, at least at this point, is not changing.

This was the point that I was making earlier, right?

For all of human history, gold was the standard because trust didn't exist broadly between nations.

And like I said, this sort of post-World War II US-led order meant that the world broadly trusted each other.

And when the trust broke down, America was there to police it.

So we saw this transition, but that illusion has clearly been shattered.

The world now is sort of turning to blocks

And I think asset seizures, things like that, have ultimately escalated the inevitability.

I'd love to sort of take credit for some genius foresight when it came to the Russia thing.

But ultimately, it's common sense, right?

If you want to incentivize the world to hold your currency and trade in it,

You know, you can't do things like seize people's assets and threaten to give them to a country that they're currently at war at to fight against them.

That's not only a message to the country you're sanctioning, but it's a message to every other country around the world that may want to do things that don't align with your moral compass.

It's that simple.

And the more it happens, the more the world will revert to gold.

Is it not, sir?

It's a good way to put it.

And I think not having the American taxpayer be the backstop for that is very, very important.