China Just Made Its Biggest Gold Move In 3 Years — We Had To React

Something is currently happening in the world of economics that will have a huge impact on the price of gold. Some argue that if gold is indeed going to replace the US dollar and US debt as the world's reserve currency, its current price is too low. If it is to be used in the way Alexander Hamilton intended. So , what we will be reviewing is Alexander Hamilton’s economic model on how to build a strong state, but it puts you in this three-part trap that we will analyze. And America is now living in this three- part trap. Based on some of the moves that China is making, you will understand how we will have to get into this triangle where we need all three things, but we will only be able to get two of them. This will have serious consequences for you and your investment portfolio. So, let's pay close attention. The biggest buyer of gold on the planet has just made its biggest purchase in 3 years. They did so while everyone else was panicking and selling . There is another point here that I want you to understand. The second point relates to understanding why the United States government is taking the actions it is currently taking. Because once you see this pattern, you will never look at the economy the same way again . So, let me take you back a lot to 1791. America was a fledgling nation that had just been freed from the shackles of its British oppressors. I only had to say that for the sake of our British viewers . She used to grow tobacco, you know, cotton, wheat, and all those things. It was essentially a giant farm that imported almost everything it needed from Europe. A man named Alexander Hamilton. Yes , the man the musical is about. He wrote a document called "Report on Manufacturers" and his argument was very simple. A nation that cannot manufacture its own needs is not truly independent. Therefore, his solution had two parts . The first part is imposing taxes or customs duties on foreign goods to make them more expensive. This is what you will hear. So, this is something Trump has been pushing for. You will begin to recognize that, and Trump has already given a speech. He did not use the word " Hamiltonian" even though Scott Bisent did . So, I know that this is exactly what they are implementing as a strategy, and he will explain it in detail. Essentially, Trump is trying to impose tariffs to protect our industry, and then you will need incentives if you want to grow that industry. So, as you review what Hamilton said, know that what you are seeing now will look very familiar, and that is no coincidence. Besant himself said it was about Hamilton, wasn't it ? Part two: Use that money to support American factories so that domestic manufacturing becomes cheaper. And guess what? It worked. It transformed the United States from a backward agricultural colony. Yes, I'm sorry, but it's the truth. To the most powerful industrial nation on Earth. This is exactly what is happening in China right now. So, China is implementing this approach. This, my friend, is one of those things. If this doesn't encourage you to learn more about the Founding Fathers, the fact that they were aware of this strategy so long ago is truly astonishing. But China implemented the same strategy. They are still using it now , and the results have been absolutely amazing . You are protecting yourself from others so that they cannot easily sell within your territory. Then direct your tax money to stimulate various industries to ensure that the cost of those goods is reduced, so that you can then export them to the rest of the world. And then the industry empties out in those other places because they cannot do it as cheaply as you if they were playing a fair game, because this is effectively seen as cheating from the perspective of global free trade . People may consider this cheating, but it is exactly what China does , and we have accused them of cheating for this very reason. But you end up emptying other countries because they can't do it as cheaply as you do because you use tax money to support it. This allows you to become a major industrial power. And now the industries of others are dwindling. Even if they decide to return to it, as the United States is now trying to do, you have a much more difficult road ahead because you have to rebuild all of this from scratch. This is the situation the United States finds itself in. This is precisely the approach that made the United States so powerful when it entered World War II, in contrast to what happened in the 1970s when we slowly began to make everything financial. We slowly began to lose our industrial base. correct. To the most powerful industrial nation on Earth. It only took a century , which is actually a very short time. But this is where things get really interesting. And it's very important for your money today. There is a pattern that every dominant economy in history has followed, and it goes as follows. I will show it to you on the screen here. First step: Protect your industries. Building factories . Things are made. You'll become rich, won't you? It was completed. Step two: You win. It becomes the dominant economy. Now you think you are so advanced that you no longer need protection. So it's turning into free trade, isn't it? It was completed. Step three: Other countries with cheaper labor and less regulation start producing goods at a lower price than you. Your factories close , and your workers lose their jobs , but it doesn't seem so bad at first because cheap imports mean cheap television, cheap clothes, and cheap electronics. This is your position on the timeline now. So, what America ended up doing was turning everything into money. We realized that we emerged from World War II as a dominant power. We own all the debts. We were able to force the world , meaning everyone owed us money, and we were not subjected to bombs and the like. Glorious geography. So we found ourselves in a position to hold the Bretton Woods conference and say: " Listen, the US dollar is going to be the world's reserve currency." And with the ability to force everyone, instead of doing something called Bangor, I don't remember, he talked about this before. I don't remember if it was in this video or somewhere else, but Keynes put forward a point of view, and there was an economist among the men who argued, but he ultimately lost. In any case, he put forward the idea of ​​creating a neutral global reserve currency. No one owns it. But the United States had a very large trade surplus, which was a big part of the discussion. I don't want to go off- topic now. Just know that the United States had every reason to want the dollar to be the currency, because it would put us in a position to force others. Because we were in a position of strength, we were able to do that. Now, when you do that, you run into a problem where you become the place that says, "Oh, I can trade all the hard work of building factories, taking risks, and making investments." I can attribute that to the rest of the world. "They buy everything in dollars anyway." So now I can transform my economy into a financial economy. What that means is that instead of having to build the thing, you can bet on it, making it a completely different game. It is a miracle of capital accumulation . It is an exceptional way for those who understand the fundamentals to become wealthy. It's great if you do that, in addition to having a strong manufacturing base. But every empire in history ends up doing that instead of strengthening its manufacturing base, because it is the easier path. Because these things take time to become clear, he says, it looks very good at first . Everything is getting cheaper. People not only feel richer, but they are actually richer in terms of purchasing power . Ultimately, purchasing power is what matters. So, welcome to this moment in U.S. history. Good. The fourth step is that your economy shifts from manufacturing things to trading paper, stocks, bonds, fake gold, and mortgage-backed securities. Isn't that so? The country looks very rich on paper, but it has lost the ability to produce. verification. One thing I want to talk about is that he mentions gold, but we really need to delve deeper into gold. This is a huge part of this story. What is happening now with gold in China should catch your attention. I'm not going to tell you what you should do about it. I'll simply tell you how I think about it . It's not financial advice, etc. You really need to think about this problem yourselves, for one reason at least: I don't know if I'm right. But here's how I think about this in my own life . Okay, so what is China doing? China is shutting down the ability to trade paper gold, and instead, what it is doing is hoarding physical gold. Okay, so why would you want to do that? First , with confidence collapsing worldwide, you don't know how many papers are being traded for a single ingot of... Now, in times of high confidence when things are going well, it doesn't really matter. You can allow people to speculate on it. And if you don't know this, then the following statement is true. Gold works in the same way that reserves work in a bank. So, if you lend money to the bank, they can then lend that money. In fact, as of now, they are not required to have a minimum reserve requirement. Most of them still do that, but it's very, very small . Say that I think it's around 9 % on average or something like that . Let's say 10%. We will be kind and generous. But 90% of the money is not actually in the bank. Thus, many people have debt securities in the form of dollars, you know, you say in my account, I have a claim for this number of dollars or, you know, numerical numbers in a spreadsheet. I can go and get that number of dollars. Now, in the normal course of business when everyone is reassured, the amount of money people withdraw at any given time is very small. Therefore, keeping 9% or 10% as actual capital is not a big deal. But a bank run occurs when everyone comes to withdraw their money because you have claims that are 10 times greater than the actual money in the bank. Gold is the same when it comes to paper trading. Therefore, you can trade an unimaginable number of gold bars for the actual physical gold bullion you own. So China says: "No, global confidence is declining. We also want to get rid of the dollar. So we need something to back our currency that is sound money, which has been gold for thousands of years now." Good. So, they don't want to trade in gold. They want physical gold. So they bring it inside. Why don't they want people to use paper? Because trading in paper obscures the real power, let's say, the real desire to own an actual gold ingot . So if people are trading it, this obscures the true nature of what gold is. Just like all the speculation about oil prices that moves based on news and not actual reality, the actual reality is that long-term oil demand is actually declining . Therefore, looking at the actual delivery stakes that people have will be much more revealing . So when people bet on the paper price, China's expectation is that this obscures the true value of owning solid gold in a world that is about to realize the truth. Therefore, we don't care if the price of gold is falling now. These are people who bet against imagination. This fantasy is about to disappear because what will really happen is reliance on solid, tangible, physical money. The gold that I can bite into this cursed ingot will be the only thing that matters . Therefore, they want to bring as much gold as possible into China, and stop paper trading so that they can find out the true cost of gold, and the true value of holding that gold ingot in your hands. The reason they want to do this is because they believe that America has become entirely financial. We have become completely dependent on debt, we are exceeding our capabilities, and the interest on our debt has become unbearable . So they know that they and the rest of the world will start moving away from it. That's true. The number of foreign debt holders is becoming increasingly small with regard to central banks. Central banks are dumping US debt like crazy. Hence this strong move by China and other central banks to move into gold. Gold is now the most widely held reserve currency by central banks, not the US dollar, as was historically the case. You need to understand that. Good? Now, you may disagree with me. You might understand it, but you think, "Meh, there's nothing important." I look at that and say, "Oh, maybe this is n't something that's going to happen in the next year or two or whatever, but this is a steady movement." In fact, I am almost certain that I extracted the graph. There is a graph of China's debt to the US and it is decreasing, while its gold purchases form an almost vertical line . Look at this graph and look at China's debt. So until about 2010, they were taking as much American debt as possible. Now, it's not as if China was stupid and has now become smart. That meant that China was saying, " This is where we stand in the world now." The US dollar is the system. So we will play the game, but over a sufficiently long period of time, we will become stronger and stronger as we build our manufacturing base. As we become what they were in World War I and World War II, we will become that. And now, as they have become so, they realize that we now possess power and influence. We have essentially captured the rest of the world in terms of manufacturing. You can't make things unless you come to China. So, we know that we will continue to receive money. Therefore, we will now begin attacking the dollar. Literally, Xi Jinping has begun saying that we need to start ignoring the West. And I quote, read books about something again if you think I've lost my mind. And so, something began to say that we needed to ignore the West. You can literally see that . This is their manifestation in ignoring the West. They say, "Yes, we don't care about these people at all anymore." We will begin to get rid of their debts. We will do this slowly enough so as not to destroy our own property. But if you're not looking at your screen to see how catastrophically low their debt has fallen, that's insane. Then, starting in 1922 or 1923, I don't know exactly, their gold purchases began to rise vertically. This is the step of someone who says: Okay, I want to get out of the dollar system. I want to create a separate system. And I will use gold to do that. We will return to the program in a moment. But first, let's talk about the one thing your business cannot continue without. I broadcast live three days a week at 7 a.m., and every morning you guys, you amazing people out there, are there. You are here. You are ready. If my connection is cut off in the middle of that live broadcast, that moment is lost forever . You don't get a second chance when it comes to live content. I know that many of you are in the same situation. Whether you're running live events, processing transactions, or managing a team remotely, your business depends on staying connected. Not just sometimes, but every single time. That's why I trust AT&T Business. 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You clear the industrial bases for everyone, so they turn to you. But times get so good , and you start to get so rich that you end up converting everything into financial assets. This is where other places now have opportunities to beat you at your own game, which is exactly what China did and started doing strongly in the 1990s. Specifically, because in 1971 we broke our link with gold. So we completely abandoned fiscal discipline , and the fiscal transformation process began in 1971. China began emptying our industrial base from the 1990s until the first decade of the 21st century. And now you find yourself in a world where the top part of the letter K is very rich, isn't it? Huge sums of money accumulate without stopping . Because if you understand assets, their value constantly increases as you transform everything into financial assets. Meanwhile, real wages are constantly declining because you are globalizing the economy and distributing wages around the world. You balance and exploit arbitrage opportunities to find the cheapest labor possible. Empires cannot resist doing this . Good? Therefore, you need to connect these two issues together. China understands this game. China is getting rid of the burden of US debt. China has already humiliated us. They have shattered our pride in industrial prowess, and now they are buying gold, gold , and more gold. Well, the gold part of the story will make more sense as we progress. So, let's get back to our man because this is not just a theory. Let me show you how things went with the British Empire. I apologize to our viewers in Great Britain. Britain used what are called the Corn Laws, which are trade restrictions that protect British farmers and manufacturers. And that worked very well for them. They have become the strongest economy on the planet . Then in the middle of the nineteenth century, they said, "We've come a long way. Let's open up to free trade. " They abolished those corn laws, essentially tariffs. So what happened during the following several decades? Britain's share of global manufacturing has collapsed. Other countries, you Americans, Germany, where I came from, all started producing it. By 1931, Britain’s industrial base had completely disappeared. Therefore, the entire cycle from peak to decline took 85 years. Now, here's the part that should catch your attention. The United States began its own version of decline in 1971. When Nixon removed the dollar from the gold standard, once the dollar was no longer backed by anything physical, neither gold nor tangible assets, something changed. The economy has shifted from manufacturing things to the financialization of things. What does that mean? This means that Wall Street has figured out how to take real things, such as mortgages, car loans, and student debt, and bundle them and sell them as financial products. They call that securitization. The economy began to look richer on paper. But deep down, the capacity for actual production was eroding. This is what affected ordinary people. Since 2000, the cost of things made abroad, such as your television, your phone, and your children's toys, has fallen dramatically. But the cost of things that cannot be imported, and that must be manufactured or supplied within America, has gone up insanely, hasn't it? Hospital services have increased by 280%. University fees have increased by 200%. Childcare costs have increased by 150%. Yes, your television has become cheaper, but the things that actually determine whether you will have a decent life, such as healthcare, education, and childcare, have become more expensive. I won't go into too much detail on this, but understand that he is either ignoring or failing to grasp the complexity of something that happened there. A large part of this reason is the same thing that Drew always tries to explain about America’s economic system, which is government intervention in the system. So, 47% of our budget goes to social services, yet people feel they are not receiving social services. The reason for this is things like healthcare, which we handle stupidly because the government simply tells us: "Yes, we will take care of this." "We will pay for this for you." And so costs rise insanely because you ultimately do not get competitive, due to the lack of demand that drives prices down. So, what he just went through has a more complicated reason, and I would say it's because of America's tendency towards socialism in a stupid way. The government guarantees many things. That's very stupid. And so we end up breaking the competitiveness of the market. Anyway, oh my God, I won't go into complicated details. End of story . Okay, let's get back to our topic. When a country stops manufacturing and starts trading securities. And now, and this is the most important part, the US government essentially declared: "We're going back to the Hamilton approach, you know, the guy with the musical." Treasury Secretary Scott Bisent published an article in the Wall Street Journal outlining five principles of what he called the new American art of governance. First, economic security begins with national capacity, which means we need to rebuild factories. Secondly, openness must be met with reciprocity. So if you impose tariffs on our goods, we will impose tariffs on your goods. Third, the United States dictates the rules of the future economy. Fourth, financial leadership, the dollar, treasury bonds, and stablecoins are the new weapons. Fifth, these principles must serve the American people, not just Wall Street. You may not agree with these policies. This does n't really matter. It will affect your finances. So, the United States is officially backing away from 50 years of globalization. This changes everything regarding how you invest. This leads us to what I call the impossible triangle. It's what connects everything. This is something most people overlook. The US government wants three things right now . I've put it on the screen here for you. First, rebuild American factories, re-industrialize, bring production home, and create jobs. Secondly, protecting the local economy (the average citizen). That is, to keep prices from rising insanely. As you know, because inflation crushes those with low incomes. Third , maintaining the strength of the dollar. But there is a problem. You can choose only two. Think about it. If tariffs are imposed on imports to rebuild factories, prices will rise . This harms the average citizen. If you keep the dollar strong, US exports will become more expensive. This makes rebuilding factories difficult. If you weaken the dollar to help factories. Imports become more expensive. This harms the local economy. It harms the average citizen. Therefore, no matter how much you try to coordinate them, one of these three things must be sacrificed. This is where the story of gold and what China is doing becomes extremely important. Imagine that graph, if you were looking at it; China is getting rid of our debts, and is buying physical gold like crazy as an acknowledgment of the fact that we are in that triangle, and China knows exactly which one of the three we will give up. Felix is ​​about to give the answer, so I'll let him drop the gist. But when you present this conclusion, think about that graph. It will be the dollar. Why? Because the dollar does not have the right to vote. So, they are deliberately weakening the dollar. Who benefits most from a weak dollar? Well, it's gold. Because gold is the only major asset that does not represent a liability for anyone. It is not controlled by any government. It cannot be printed. It cannot be frozen. He cannot be sanctioned. Well, these are just lies. First, we have imposed sanctions, and I doubt he means that they are lies, but sanctions can be imposed on them and have already been imposed . Part of the reason China is trying to push its citizens to buy gold is also because, incidentally, it is similar to the S&P 500 index. The S&P 500 index in the United States is a huge repository for people who say, "I want to invest in the stock market." I don't want to have to think about what it is . Therefore, I will only invest in the S&P 500 and I will trust those in charge to know who to exclude and who to include . Therefore, it is usually the biggest place where people invest their money. China has something very similar. For the first time ever, or certainly for a very long time . Their gold ETF actually contains a larger family fortune, meaning that small individual investors are investing more in the gold fund than in the overall Chinese market. So there is a major shift in China regarding where they put their money. China wants people to start buying physical gold. They are building a much larger facility to store gold. The reason I believe is partly why they do this is because they know that gold is passing through a chokepoint, and they can close it at any time. I think it was Roosevelt. Forgive me if I made a mistake in the quote , but Ryan will look into this for us . May God bless him. There was a president in the 1930s, I think, who said, " Guys, you can't own gold anymore ." You must sell it to the government. Don't worry, we will buy it from you at a fair price. They made gold possession illegal, bought it from everyone, and then changed its price. Thus, they effectively, not just theoretically, devalued the dollar relative to gold. Now, most people don't understand this, so they haven't noticed, and it will take time for this effect to seep through the system before people really feel the inflation. But China knows it has that option. So I'm very surprised. Felix, who by the way is fantastic. You should definitely subscribe to his channel. I have watched a lot of his content. But this point is simply incorrect. Sanctions can be imposed on it and have been imposed on it previously. People will resort to it when they feel the time is right. So, this is one of those things related to self-possession. Once again, read about the Rothschild family. Literally, in times of crisis, they would bury their belongings in their yards. It's crazy, but it's true. I don't advise you to do that now because people understand how this game is run. But yes, if you do not physically control the gold, don't think that the government cannot take it from you. They can . In any case, all of this is part of that step , this triangle. China knows that of the three, we will devalue the dollar because it is the one thing people don't understand. It was Franklin Roosevelt. Executive Order 6102 was issued in 1933, setting a fixed price of $20.67 per ounce and making private hoarding of gold illegal. Yes. So, our man Roosevelt gets a lot of positive media coverage from the democratic socialists. I'll just say that. Because of this step in particular. Because of this and other things. Listen, I haven't delved deeply enough into this subject to take a firm stance. But a number of credible economists have said that if the "New Deal" had not been implemented, we would have emerged from the Great Depression years earlier. Hmm. In any case, I haven't delved into the matter, so I'll just say it's something people say without me being able to prove it. Yellow Knight made a good comment in the chat, saying that China's gold purchases are not directed towards the American economy, but rather towards what happened with Russia, because that was when we imposed sanctions on Russia and banned it from the SWIFT network. So, we stole all their money. You cannot access your money, you cannot trade, you cannot enter the stock market , we have completely isolated them and they also had Treasury bonds. They were also investors, although not to the same extent as other countries. So, this made China realize, wait a minute, at any moment America could press that button. Therefore, we must break free from their control . like. That's an incredibly good point . It is 1000 percent true. But I think it would be a mistake to think that China did this from a position of "Oh my God, we are scared" rather than from a position of strength. We will make the yuan the world's reserve currency. The only way we can do that is by backing it with gold. Therefore, my reading of the situation is that you are both right. This is 100% part of the story. But I don't think it's the motivating factor . It may have raised some questions about "why now," but I think it comes down more to China being in a very strong position lately. Gold becomes cheaper when the value of the dollar falls. At the same time, China is doing something very important . Four of China's largest banks have announced they will shut down precious metals trading services for individuals. Therefore, they are stopping the trading of paper gold. You can still buy real gold. China does not want its citizens to trade gold via an app as if it were a stock. They want people to buy real, physical gold. So, they are retreating from the crazy world of paper towards physical things. Why would they do that? Because paper gold and physical gold are two completely different things. Paper gold is a kind of promise, isn't it? Banks make money from it. And it doesn't seem that anyone else is doing that. Physical gold is an asset in itself. And when trust in the system collapses , which always happens eventually. Promises are worthless . And look at the United States . Look at the amount of gold, physical gold, that leaves the United States . Starting in late 2025, it reached its highest level ever recorded . Gold is physically moving out of financial vaults and other paper systems, into the hands of governments that plan to hold it for decades. So what does this mean for you? Well , this means that dollar-denominated assets, savings accounts, bonds, and even your stock portfolio are facing headwinds here. Not because of a recession, not because of a collapse, but because of the deliberate policy of the United States to weaken the dollar. At least that's my opinion. Here is the main view. Let's put all of that together and put it on the screen for you. Central banks are not buying gold because they believe it will rise next month. She is buying it because she knows from centuries of history that empires have restructured their economies, and that is what is happening now. The currency must take a hit. Every central bank that is stockpiling gold right now is essentially betting that the dollar will be worth less in 10 years than it is today. Good. So, in short, the idea I want you to grasp is that you decide what you will do yourselves; The US government, through Scott Besent, has clearly stated that this is a " Hamiltonian" approach to getting back to how we grow our economy again. To achieve this, you must reverse some of the actions that have brought us to where we are now. Therefore, you will return to being a manufacturing power instead of relying entirely on finance and cheap imports to get things done. To do that, you will have to impose tariffs. You must prevent others from bringing goods inside. China will be the most important in this regard. Therefore, you will impose very harsh tariffs on China. Do you know what the matter is? That's exactly what's happening now. Trump has been telling you exactly what we're going to do for a very long time . But he did not use the term "Hamilton " only. Now, Bessent says, "Great. We'll do it. We'll impose tariffs. We'll block those goods from entering." Then we will have to start allocating resources to the industries we want to see return, because part of this is not just about making them viable here in the country, but also ensuring that these manufacturers are able to export to other countries. A large part of the global economy is located outside the United States . We do not want to put ourselves in an isolationist position. We want to be able to sell to the rest of the world. Now we will direct dollars towards a specific industry to try to get out of this situation. The crazy part is that this is where I start to worry; If we try to outdo China in its approach, we will have a tough time. This is one of the things I'm directing to you, Drew. I am very interested in speaking with Steve Caine about this issue, as he believes that China is dominating the competition. I believe he does not share my absolute fear of the authoritarian side of China. For me, trying to outdo China in its own way means ignoring the essence, especially when we realize that Alexander Hamilton built this system and explained how it works. This man was part of the group that put in place all the checks and balances to ensure that we could achieve this without giving in to the human tendency to try to monopolize power and control, and then take over everything, which is exactly what we saw happen in China. So, for me, saying that we will play the game like China would be a mistake. Seeing how China added to its methods what Alexander Hamilton did. Now, we must do this in a distinctly American way: where we don't abandon our republic, we do n't turn into an authoritarian regime, and we don't give in to the idea of ​​"Well, it's more efficient to have one person telling everyone what the hell they should do." We don't want to find ourselves in that situation. But we need to understand that America will begin to dismantle this situation. The way they will achieve this is by weakening the dollar. Do with this information as you please. No one will know what the right timing is because it all depends on how the world reacts. Ultimately, economics is about psychology. It's all fake. It's all fake. I know people will be furious at this statement. But it's all fake. That's why you can manipulate the price of gold on paper, because everything is fake, damn it . Therefore, all of this will depend on people's psychology and how they respond. Therefore, no one will be able to determine the right timing for you. But the direction of the path is clear, by our own admission. We will do everything we can to resume manufacturing. So, we will do what we need to do to remanufacture. We just previewed what that would look like . It will require us to weaken the dollar. We have seen the United States weaken the dollar by huge leaps before with Roosevelt when he withdrew everyone’s gold and then repriced it , which is equivalent to massively inflating the dollar. And then , well, now you can buy gold again. So we know that this kind of thing happens and will happen. We see China saying, "Okay, we'll get rid of American debt. We'll go for physical gold," either because they look at it and say, "Okay, you're weakening the dollar." "Or because they saw us freeze assets in Russia, so we don't want to play that game, or most likely both reasons." But I think the other thing you should consider is that they know how to play the game well. That this was part of the strategy from the beginning. They said when you are weak, be quiet, and keep your head down. They did exactly that. The stronger you become, the more you start to assert yourself, and the more powerful you become, the more you disregard others. We've seen it all, and you can literally see it from my vantage point in their divestment from their dollar debt, which, if I'm not mistaken, they've sold in the last 36 hours alone, an unbelievable hundreds of billions of dollars of US debt . So when you look only at the math, the data of what they sell versus what they buy, it means someone who doesn't believe that the smart way to make money in the future is to rely on the dollar. This is someone who believes that the right reserve asset to hold, the thing that will be most valuable in the future, is actual physical gold, and that you should encourage people to buy that gold away from paper speculation and to hold the physical thing. This means that the bet they are making is that holding physical gold will be the most valuable thing in the future. When is this actually true? This is true in a society with low trust. I think we can all agree that the world is falling apart. There are many conflicts. That's for sure. When the dollar loses its value over time and does not gain momentum. When you look at what the United States is trying to do, it is likely that they will have to devalue the dollar. So, when you put all of that together, it makes a big difference to all of us as investors. So , again, the way I think is to increase caution. I have started to rebalance my investment portfolio. I am not withdrawing from the stock market under any circumstances. And again, you must assume that I am stupid and that I do not know how to translate this into money. Therefore, you must make these decisions yourself. Man, I have enough worries in my own life. I want to make sure that you do too . So, when I look at this, I say to myself, OK, I'm rebalancing my portfolio. Because the stocks performed so well, my portfolio became more aggressive over time. So now I would say, for where I think we are headed, the amount I am allocating to stocks alone is probably too much . So I started to reap some of my big profits, and they were huge profits. And so you begin to rebalance based on that. I am doing some things, but I haven't started buying actual gold because I am too scared of the question of where I can actually store it. I have no evidence for the following claim, but I have no proof of it. So, do what you will with my feelings, but the fact remains that we do not conduct a public audit of gold. We are only relying on what is in Fort Knox, and we are relying on mere promises from Besant, and I really hate that. Therefore, I am not convinced that we actually possess the gold . I am not convinced that the US government, given its history, is the right party to safeguard my gold. So now I have to find a solution. But this becomes more attractive. I haven't made a final decision yet, but I've started to consider it. So, it's like: Okay, I won't get a return on gold, but it might protect me while we continue to devalue the dollar. Again, you really need to think about this yourself. But if you want to know why I keep repeating this , why I think it's important, and why I spend time talking about it , it's because it's a fundamental pillar. If everything I just put forward is true, then you have the path that things will literally take when it comes to money and the economy . Now, I don't know if this will take a year, or five, or ten, or twenty years, I don't know. But this really does look like the path of the future. So, unless something stops him, and by the way, we are at war. Therefore, we would like to see the dollar weaken more and more, and debt weaken more and more. Therefore, we have every reason to want the dollar to weaken. Trump has been talking about lowering interest rates for ages. In any case, this seems important. This means something. I really recommend you look into this. By all means, get rid of my conclusions if you wish. But I will not get rid of my analysis. You need to find out if you think I'm wrong about any of those steps. Define it precisely, analyze it from the first principles, and then certainly do what you see fit. Again, the final conclusion I've reached is that it's extremely high risk what you're doing with your money. You will want to make your own decision about that. But the analysis is based on cause and effect. So, let's review that. If you believe it's true, that's great. Draw your own conclusions. If you think it is wrong, try to identify the part that you see as wrong. Enter the command that you believe is correct. First, I would like to hear that. But just make sure you have a chain of cause and effect, because times change. If you're going ahead as if everything will stay the same forever, I'm really afraid you'll be caught off guard in something where you could have been a little more varied. Be a little more strategic in protecting yourself from risks. There is no need to sell everything and buy a lot of gold. That's not what I would do. And it's certainly not what I think any intelligent person would do. In any case, this episode is important. Pay close attention. If you enjoyed this conversation, watch this episode to find out more. Steve Cain is an economist. He actually started as a tennis player who could have become a professional. He is also very left-leaning, i.e., a Marxist. He loves Marx. So, Marxist viewpoints, think.