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Silver

Peter Schiff: ‘The Price Of Gold Is Going To Soar’ And ‘The Dollar WILL Collapse’

Mac Slavo
January 31st, 2018
SHTFplan.com
Comments (15)
Read by 5,621 people

peterschiff

Peter Schiff recently attended the Vancouver Resource Investment Conference. While he was there, he did an interview with Daniela Cambone of Kitco News and Schiff said gold is going to soar.

But Schiff (who predicted the 2008 recession) also explains why he believes now may be a good opportunity to invest in physical gold. Schiff said that the standard sentiment shared by many is that once the Federal Reserve jacks up interest rates, gold will stay level and unaffected. But that didn’t happen. Schiff said that the yellow metal has surprised the initial expectations that it would fall when the Fed raised rates; gold has climbed 9% since the Fed hiked last month.

Gold has not really rallied. It’s been going up, right? But it’s been creeping higher. Now, everybody expected it to fall. Everybody believed that as soon as the Fed hiked rates, gold’s gonna tank. And it didn’t tank. It rallied. -Peter Schiff

Investors tend to sell the rumor of rate hikes and buy the fact when in reality, the higher interest rates are not bearish for gold. But as Peter points out, that mindset still exists in the market.

But you know, the Fed keeps raising rates a little bit, every once in a while, and everybody still believes that, well, the Fed is raising rates, so that’s bearish for gold. So, everybody expects gold to fall, yet it continues to creep higher. But I think once it overcomes some of this resistance –  it has a lot of resistance around $1,350 – and I think if we can decisively move above that and then get above $1,400, just to make sure it’s cleared out, then I think it’s off to the races.

Schiff also touched on the optimism in the markets, as he so often does, claiming still that the tax cuts won’t help much because the size of government hasn’t shrunk.  He also says the rising interest rates will suck up the benefits of those tax cuts either way.

 These tax cuts are not going to provide the economic boos that everybody believes.

I think the impact of rising interest rates and rising consumer prices will more than offset whatever benefits are to be had from the tax cuts. So, I think the economy is going to be weaker despite the tax cuts. I still think we’re heading into recession.

It’s rare to have this much optimism, but there are more problems now than there’s probably ever been, yet everybody is overlooking that. So, at some point, people are going to rush into gold, and the problem is there’s no one that’s going to rush out. So the price, I think, is just going to soar. I think you’re going to see 50 or 100 dollar moves per day up in the price of gold, once we break out.

Schiff holds firm that the consequence of the Federal Reserve manipulating the economy will be the crash of the dollar.

They actually made the bubbles bigger than the ones that popped. So now, the dollar’s collapse is going to be that much bigger, because it’s now a bigger bubble with more air to come out of it. And I think they have no more tricks up their sleeves. When this happens – it’s over.”

 

 

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Author: Mac Slavo
Views: Read by 5,621 people
Date: January 31st, 2018
Website: www.SHTFplan.com

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15 Comments...

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  1. Bert says:

    As long as the oil flows and the +entire world+ keeps creating new debt money the dollar will continue as is. Key words are oil and the entire world creating new debt together. !!! If Peter truly feels the dollar collapse and the gold price going up, then why isn’t Peter hoarding all the gold and silver he can leverage himself to, instead he is just talking his book and trying to sucker in new suckees.

  2. aljamo says:

    God should have created humans as benevolent beings. Everybody gets a grain sized gold piece.

  3. kingfish says:

    Even a broken clock is right 2 times a day…. Stupid me, I listened to him and other unnamed profits of doom 7-8 years ago when gold was $1800- $1900 an ounce and would be shortly $5000 + per ounce they predicted, and bought a bit at $1800, sure to either turn a quick profit or see me thru the bad times. Lesson learned,,, profits of doom are just like the broken clock. KF

  4. KY Mom says:

    From the World Health Organization website…

    High levels of antibiotic resistance found worldwide – 1/29/18
    “The report confirms the serious situation of antibiotic resistance worldwide,” says Dr Marc Sprenger, director of WHO’s Antimicrobial Resistance Secretariat.

    “Some of the world’s most common – and potentially most dangerous – infections are proving drug-resistant…”

    ht tp://www.who.int/mediacentre/news/releases/2018/antibiotic-resistance-found/en/

  5. Sgt. Dale says:

    Pete you said this for years now. One day you might get it right.
    Sgt.

  6. Heartless says:

    Sorry Peter, but I’m going to ignore you again. Ain’t got the money to buy up gold. I’ll stick with my own plans. Brass, lead, some zinc, iron… Not that I don’t think it will all come apart sooner or later; it is just that, I think money or the representation of worth will not be found in any currency besides necessities.

  7. Sean says:

    Schiff is more or less right. And physical gold and silver would be better to have than paper or hope. Get the mail, the dollar is backed by NOTHING, and is worth NOTHING, and buys less every year. Our worldwide enemies know this, and they’re buying up all the gold and silver they can lay their hands on. Even a fractional backing of gold for a major currency would put the dollar in deep shade. Paper is not currency, it’s a scam. Can’t afford gold? Get some silver, junk silver ( dimes and quarters issued 1964 or earlier) and Eagles, they’re easy to find at gun shows, and easy to buy. You’ll need a medium of exchange during the sporty times.

  8. Darren says:

    This guy got one prediction right about a decade ago. Has he been right about anything since? I’m a bit over his predictions.

  9. Douglas Yankauer says:

    Schiff has been at the top of the Buy Gold Now food chain for years. To date, not a single of his doomsday predictions has come to bear any fruit what so ever.

    Schiff should go bury his head in the sand. That’s about all he’s good for.

  10. Concerned Citizen 1776 says:

    I am so sick and tired of hearing this asshole and all of his shit talk, over and over and over again Christ man.

  11. 2018 Is Now says:

    Dollar already collapsed. Debt market (bonds) been collapsing for months.
    Federal Reserve is buying bonds. HELLO!!! That should tell you something.

  12. Archivist says:

    I don’t care how much gold is worth in dollars. What I care about is how much it’s worth in cattle, or land, or other tangible goods.

    For over 100 years, gold has been worth about the same, not in dollars, but in commodities. Over 100 years ago, you could buy an expensive suit with an ounce of gold. Today, you can still buy an expensive suit with an ounce of gold.

    The same goes with silver. Fifty years ago, I could buy a loaf of bread with a silver dime ($.10). Today, I can still buy a loaf of bread with a silver dime’s equivalent ($1.25). Actually, because so much silver is being used up compared to the amount being mined, the value of silver is creeping up. So I can actually buy a little more than a loaf of bread for a silver dime, as the cheap bread is only $.99.

    Gold and silver are not meant to be an investment. They are a store of excess value to keep until things settle back down and you can go back to trading gold and silver for other goods and services.

  13. Anonymous says:

    The paper “Dollar” would collapse right now, and the lowly copper-zinc Cent would become (really) worth about ten of those former paper “Dollars'” (supposed) value and, the other copper-nickel coins would be recognized–by people not brainwashed, that is– as being worth their respective value of those re-valued Cents if the paper “money” were to be declared counterfeit (which it Constitutionally is). Instead of abolishing the Cent (which would then be worth about what the current paper Ten-“Dollars” is now able to purchase): if anything, copper Half-Cents–a Nickel with a hole punched out of the middle– would have to be minted (replacing paper Five-“Dollars”), along with copper Mils–a Cent with a hole punched out of the middle (replacing paper “Dollars”–who’s inherent devaluation makes it’s current buying power that of the Cent when copper, silver and gold were rightfully used for money).

    It wouldn’t take only silver and gold to be enormously valuable, really hard money. Silver would be worth sixteen times the copper (with a silver dime being worth about “$1,600” in current paper “money”; a silver quarter worth about “$4,000” current paper “money”, etc.), and gold worth sixteen times the silver as was traditionally and Naturally the case (with a gold $10 being worth about “$25,600” current paper “money”, a gold $20 being worth about “$51,200”, a gold $50 worth, in current paper, about “$128,000”, and a gold $100 worth about “$250,000” in current paper). Obviously, a pocket-load of copper, silver or gold coin wouldn’t be needed to buy something, like it now takes a wallet-load of un-Constitutional, paper “money” to buy.

  14. buttcrackofdoom says:

    when schiff IS proven right, y’all gonna be gnashing yer TEETH….look at that debt curve, and how it relates to TIME. it’s about to go parabolic…how do we pay the INTEREST on 21 trillion, at 4%?….a MONKEY can see THAT….AFTER you got all the other STUFF you will need, then buy a bunch of gold….schiff is right….just a lil early, so y’all ought to thank him, instead of villifying him. shame on you.

 

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