George Gammon flipped the entire debate on its head. While guests have argued supply and manipulation, his read is simpler and darker: China stopped buying because China doesn't need it.
Their real estate market, once the LARGEST asset class on Earth, has erased twenty years of gains, a financial crisis playing out in slow motion.
Saudi Arabia offering Asia discounts it hasn't given since 2020 tells the same story.
Energy is the economy, and the economy is stalling.
Then he told me about driving across Argentina trying to live on nothing but gold, silver, and Bitcoin.
Nobody wanted any of it.
Jewelers offered 50 PERCENT haircuts on gold coins.
What everyone demanded instead was dollars, and even their own peso, melting 20 percent a MONTH, beat Bitcoin.
His explanation is the network effect: the dollar is the iPhone, everything else is a flip phone, and to dethrone it you'd need something a hundred times better.
Which is why his fear runs opposite to the crowd's.
He doesn't worry about the dollar crashing down.
He worries about it crashing UP, and taking the world with it.
@GeorgeGammon
