Philip Patrick

massively increased the money supply.

So surprise, surprise, there is a direct correlation between growth in debt, the money supply, and growth in gold.

Look at what the Biden administration did.

$8 trillion of liquidity pumped through the markets in four years.

It's no surprise gold is moving at the level that it is.

Now factor in $2 trillion deficits that were inherited from the Biden administration.

We're looking fiscally unsound.

and creditors are demanding more interest to lend us money, and they're looking for alternatives outside of the US dollar.

Gold is now becoming, slowly, the favored central bank reserve asset.

I've mentioned before, it overtook the Euro last year.

It's now a larger share of global reserves than US government debt.

I think that trend will continue, and it'll support gold's price movement

upwards, ultimately, the biggest driver of all is all time high demand.

And it's central banks driving that demand for different reasons, right?

It's dollar devaluation, but it's also predominantly Biden's weaponization of the dollar back in 2022.

It made a lot of countries around the world start thinking this isn't a safe place to hold on to our wealth and gold's benefiting from that upside.

Absolutely, yes.

It's so clear.

I mentioned before on the show, Taleb, Nicholas Taleb, the author of Black Swan on Bloomberg, said it.

He said the dollar is losing global reserve currency status.