But the idea of moats, can you talk to me a little bit about what makes you so certain that we're in this kind of time frame?

Yeah.

So let's start this story in 1945 at the end of the Second World War.

So at that point, the U.S. was the undisputed leader of the world, a true hegemon.

And the U.S. did something very interesting.

Instead of expanding before uh it didn't do that and in fact we rebuilt our you know former enemies we rebuilt Germany rebuilt Japan and helped Europe rebuild as well um so and and basically the idea was hey we'll all trade together and get rich you know that was that was kind of the uh the setup and it worked it worked for a very long time now I think that has ended where you want to put the you know that where you want to draw that line is it 9 11 is the global is it the global financial crisis i don't think it's really that important but i think that has ended and we have now entered as you said the phrase that i've used and i did not coin this by the way it came from iran paper is i believe we have entered a neo-medieval period So there's just a few characteristics that I think are worth mentioning, and we can go into detail wherever you want.

But number one, the primary trait of the neo-medieval period is that we have weakened states.

How do you feel about gold and silver and some of those other assets?