For your consideration ...
Well look at that. It seems that a whole lot of money is now flowing to gold and silver. Gold up $43 to $1911, and silver up $1.33 to $21.86. Seems people are trying to find safe haven for their dollars.
Money is lent into existence. The reason money *currency* exists is because of lending. Rising interest rates mean destruction of the money lent into existence, to service, repay, what was lent. Rising rates reduces the value of the lending instrument. What happens to the money that was lent into existence when the lending instrument was created? It disappears of course. That loss comes out of the pocket of the lender.
Paper dollars created are lending instruments, themselves. But, lets forget that fact for the moment. Making a loan allows banks to lend money they do not have. Instead that loan backs the money the bank created out of thin air. As the rates rise and the lending instrument falls in price, Who loses? As the lender, whomever is the holder of the instrument becomes the loser.
Gold and silver cannot be lent into existence. Hence, they are real money, specie. Got physical? Hope so. Because those gold and silver ETFs have far more counter-parties than there is physical gold and silver.