Peter Schiff analyzes the implications of gold's record-breaking surge, arguing it exposes the Fed's misguided policies and a looming economic crisis.
Via SchiffGold.com, On this week’s episode, Peter covered a record setting week for gold and a stellar week for silver. With the metals nearly cresting $2800 and $35, respectively, Peter sees this price action as confirmation that the Fed’s recent rate cuts are a mistake. Politicians may love inflation, and the media is oblivious, but the metals markets know that America’s economic trajectory is unsustainable. As Peter predicted, long-term interest rates are rising.
And now that it’s $2,750 an ounce, they still don’t care about it because they have no idea what it means, or if they do, they certainly don’t want their audience to figure it out. … But when the Fed showed its hand and announced QE, gold took off. Initially, people— not just me— there was a chorus of people saying, ‘This is terrible, this is going to be massive inflation. You’ve got to buy gold.
Gold Inflation Federal Reserve Interest Rates Economy Dollar De-Dollarization Recession 2008 Financial Crisis
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