The Iran conflict triggered a liquidation of gold and treasuries as reserve assets when Gulf states needed funding, while simultaneously semiconductors were moving — so fast money immediately rotated into double and triple levered semiconductor ETFs in Korea and the US

1:45the fast money was not making any money on Bitcoin. So they moved over to gold and that was the time when you know silver was mooning to $150 and and so you had all those flows. >> Then we had the Iran conflict and gold had overshot its upside. Maybe if we can pull that chart back up, you can see that the global money supply which is the red line or this is the fitted

2:11version of it uh to explain gold's price. You know, gold went way above that because of the fast money and the yellow the yellow bars is is inflows into the gold ETFs. And so gold went too far up and then the Iran uh conflict happened and all of a sudden gold and treasuries were for sale because now all of a sudden there are reserve assets that are potentially a source of funding

2:36for Gulf states who can't sell their oil and that at that same time the semis were moving and so the fast money just jump shifts and now it's in the semiconductors both in Korea and the US you know double triple levered single name uh ETF. And guys, put put the chart of semiconductors up here, guys, because the flows here. >> Yeah, >> it's really incredible. [music]