Investment guru Peter Schiff says that people should ditch the dollar. And not just the dollar; all fiat currencies. Instead, he says people should be buying gold, a “real safe haven” asset.
The real driver behind the rise of gold prices is the world’s central banks’ buying spree, says Peter Schiff of Euro Pacific Capital.
“All of this is very bullish for gold and so rather than simply selling bonds people should be buying gold because they need to get out of the dollar,” says Schiff. “In fact, they need to get out of the fiat currencies in general and seek a real safe haven – and that’s gold,” he adds.
Back at the end of October, Schiff has also said that the stock market bubble had already popped, according to RT. The Federal Reserve planned to inject $60 billion per month into the U.S. economy which is showing signs of a slowdown.
“Just ignore what they say and look at what they do,” Peter Schiff of Euro Pacific Capital tells Boom Bust. “They are trying desperately to keep the air from coming out of this bubble but it’s not going to work,” he said, explaining that “The bubble has already popped.”
According to Schiff, “the only question is how fast is that air going to come out and when the market is going to figure out that the game is over, understand what the Fed has been doing, and the true nature of this bubble economy…”
What Could Pop The Everything Bubble?
Schiff also added that the most recent interest rate cut is a “desperate attempt to keep the air from coming out of the bubble, to maintain false consumer confidence.” Consumers are confident the economy is a disaster, he says, adding that they don’t have any money, they have lousy jobs, no savings, and are loaded down with debt.
“But, as long as they keep on borrowing money to buy stuff that they can’t afford with money they don’t have, for some reason they remain optimistic…” The Fed plays into this, Schiff says.
It Took 22 Years to Get to This Point
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Same song since 2008. Buy gold from me I sell it
Therefore it is the Fed that is and always will be the problem here. At this rate, you’re going to need more than PMs.
Back in the 1930’s, Roosevelt called in all the gold. What is to prevent a president from doing that today?
So how are people going to buy food….does the markets take gold in exchange now for food? Nope….Peter is being irresponsible to his viewers and readers…they own everything Peter….
“But, as long as they keep on borrowing money to buy stuff that they can’t afford with money they don’t have” they’ll be able to afford a better tent in anticipation of the (foreclosure) sheriff tossing them out on the street.
I listen to peter Schiff a lot His timing is not too great The stock market has done well and individual stocks are paying good dividends But at some point in time the bubble will burst and a good idea to be putting fiat currency into gold My main complaint with PS is that he continually trashes Trump Peter what in the world us the alternative????
Ya think this advice has anything to do with his desire to sell you gold ??? Maybe his hatred of the USD is because his father was prosecuted by the US Government. Ya think ??? 🙂
Why post comments if your site doesn’t post them? A waste of thoughtful time.
I don’t know why you think that putting up your “Download Now” screen on every fucking page is a good idea. In fact it pops up even when you go back to a previous page. It is annoying as shit. It even popped up while I’m typing this comment. Go fuck yourself. I won’t be back.
That “download now” is annoying.I really don’t think Mac cares about this site anymore. He used to respond occasionally when someone posted something to him, but anymore, i just don’t think he cares, BECAUSE IF HE DID ,HE WOULD FIX THE PROBLEMS ON THIS SITE! The S has hit TF at SHTFPlan. It’s falling apart. All the refreshing and endless delays on posting comments have ruined this site.I’m surprised all of his advertisers haven’t left.
This site is not the same without hcks