be careful who you follow, guy is holding gold and saying the sky is gonna fall. Also owns a lot of stock in a company called GoldMoney, which allows you to use a Visa card to operate out of your gold holdings. He has a dog in the fight he is egging on.
The statistics show only a small % of people have gold in a form that could be retrieved. Like fractional lending, most is just paper that is worthless. Kind of how Bitcoin died (or leveled of in the lowers) after Futures were sold. Once the bankers get into it, the fractional numbers start to disallow a device to reach a pure market price.
I like Peter Shiff, but he is not purely an analyst. Real Gold is King.