Foreign central banks are increasingly buying gold and moving away from the US dollar because they recognize the dollar is an unreliable store of value due to American deficit spending.

“Foreign central banks have been huge buyers of gold because they've been moving away from the dollar. They've been devesting themselves of dollars and buying gold instead.”

The abandonment of the gold standard has allowed for unchecked money creation, leading to persistent inflation and the decline of the West.

“If those countries had stuck to the discipline of gold, in other words, they could only spend as much money as they had gold in their vaults, that war could not have happened to anything like the extent that it did. And in my view, the beginning of the end of the west began in 1914”