circumstances that we may very well see continued sluggish growth in the US. And yet there are, I think we've got a political setup that has greased the wheels of money printing, so to speak. And I wonder in that type of environment, are we describing, and again, because it gives me pause that a lot of other people feel this way, but are we looking at a kind of stagflationary period? And in that world, in the last time we had a situation like that, gold, I think, you actually, you'll know better than me, the returns, I think we're like 30% annualized over 10 years. But at the same time, we just got out of like a 10-year bull market in gold. So I'm curious what you think about that. I don't think that we have a replay in terms of gold performance of the decade of the 1970s, which was of course the decade of stagflation. Those were my formative economic years, so I remember them well. And the reason that I don't think that we have the replay is that we came into that decade with gold (27/45)
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