I’d say we’re about 15% inflation. So it takes more fiat to buy goods. Keep stacking . Put it away and forget about it. The ones who been stacking gold and silver are sleeping better at night. Thanks Peter. 🙏🇺🇸🦅
Been a buyer for over 15 years. Painful sometimes but when the day of reckoning comes this will be sweet. I feel bad for the people who don't see this coming.
Unfortunately, when the "day of reckoning" comes, it still won't be sweet, unless you take pleasure in watching other people lose. Because if gold is going up, then that means the prices of everything else is going up as well. So unless you are going to sell that gold after it goes up to pay off debt, you won't really be better off than you were before. You just won't be in as bad of shape as most other people.
One of the most brilliant economists alive. Predicted the 2000 Nasdaq Crash, 2006 Subprime Mortgage Crisis and 2007/8 Financial crisis. Uploads wonderful regular podcasts, commenting on everything from legal to political to racial to gender matters, as well as economic theory and market related data. I am so thankful to have discovered the Austrian School of economics in general, and Peter Schiff in particular. He's a genius of a much corrupted and misunderstood science. I've listened to hundreds of his podcasts (up to an hour long!) and have learnt a tremendous amount from him. Grateful and ecstatic to have you, Peter! If you ever visit London, please consider visiting my restaurant. You are a living legend; a masterful thinker who is not afraid to take on the Woke left, the Political Correctness brigade, puppets of the mainstream media, mistaken Keynesians, deluded MMT'ers, central bankers of the world, and statists in general. I salute you, sir! A great son of a great father! May God/Nature bless you more and more!
Peter is right about a lot of things. But sometimes his timing and underestimation of how long things can remain irrational, can be deadly for investors. He’s fundamentally right though, just watch the timing!
Excellent commentary. I've been exchanging dollars for money since 2008. I've also been day trading in the paper markets and made significant nominal dollar gains. Unfortunately, prices are so twisted, I have no idea if I'm ahead in real gains? I suppose it depends on what is being measured but trading some of those gains for physical gold seems prudent. Ultimately, I think the social consequences are going to be so ugly, even the wealthiest among us will not be able to enjoy their success. I'd rather be poor in a stable nation with a functioning social contract than rich in a 3rd world sh*thole. This sucks.
@@Lawliet734 Currency DOES NOT EQUAL Money 🤣 A FIAT line of credit is not Money. You're the only one here playing "word games" because you are ignorant. Words have meaning and currency is not the same as money. Go edumacate yourself. 🤡
Peter always makes perfect sense. Why would anybody with any common sense park their money in the bank with 1% interest and inflation is 10% and rising. Gold and silver will not only preserve wealth but will probably increase it when everyone finally realizes what is going on
@CoeusQuantitative what an idiotic comment!! When the prices are manipulated, the real price cannot be known. You are so brainwashed you need to stop believing the MSM and look at supply and demand for all commodities per year and then try to see how each price is justified.
Everybody thinks that the fed will fight inflation so gold won’t go up. And when they finally realize that the fed won’t do anything it means risk on and gold sells off. Classic.
I must be doing something wrong because l have lost my ass in gold and silver stocks in the last 10+ years. Only physical gold has somewhat held up. Silver is a complete looser..... soooo manipulated.
Another factor that affects the gold price is the highly oversold paper gold market. When people run to sell off their gold (paper) contracts it will temporarily send the price of actual physical gold lower, then as history has proven the price of the actual metal will rise dramatically.
Gold hasn't increase exponentially in value also, because nowadays Investors want to get rich fast, and go after the hype with meme Stocks or Cryptocurrencies schemes. Or after the new scheme trending as NFTs.
And with the rise of leveraged newbie traders. The bubble will prick in those high flyers and everything will come crashing down in the highly speculative space.
Yes, RogerM. You must realize that people who buy gold understand one thing that people who buy Bitcoin don't. When the ponzi scheme fails, Bitcoin holders will be knocking on every door, demanding and begging for their fortunes to be returned. To no avail. These companies know already today, that when the day comes they will simply declare bankruptcy, and fly away to their private islands. We are experiencing "peak of trust" environment. Next is going to be the realization that the trust itself is a disease. This is what Bitcoin "investors" will have to learn the hard way. Gold buyers have no trust. It used to say on American coins "In God We Trust", and by that it meant "Everyone else pays in gold coin". The people who put that on their coin lived hard life and learned their lessons. But It is nothing new (under the sun). Idiots lived in times before. Tulip bubble? John Law and his schemes?
No it's not. Its just a Highly overpriced commodity. Highly overpriced because many have used it as a store of value not so much the new generations. You don't decide what the value of an asset is. The market as a whole does. Gold has lost it's luster. 20 years ago many were wearing gold jewelry to show off, when was the last time you saw someone, especially a younger person wearing gold. Gold is tacky!
@Major Cbass Another arrogant cultist. You don't know me. I design electronics myself. That is why I called it a commodity. highly overpriced for the usage it has due to the fact that many have considered it a store of value, medium of exchange ... on top of it being a mere commodity. Gold is a highly overpriced commodity.
Ok. Let me explain. I work in the electronics industry. In fact I myself design electronics. I am fully aware of importance of gold in electronics. Gold is a useful commodity. That's all nothing more! Although gold's usage in electronics has increased over time, it's other usage in jewelry industry has declined significantly. People used to wear gold to show off. That's simply not the case anymore. Gold is tacky, they show off with newest phone model! But the main problem with gold is that it used to be much more than just a mere commodity. It used to be a medium of exchange, half of every transaction, i.e half of the entire economy! and also it used to be regarded as a store of value. It simply is not a medium of exchange anymore and less and less people regard it a store of value. especially younger generations. These two legacy utilities are ALREADY priced in in the price of gold. This makes gold a HIGHLY OVERPRICED COMMODITY! Have an open mind. Don't waste your life sticking to the same idea forever. World changes.
Oh fuq gold. Tell me how buying $500,000 worth of gold would outperform putting that money as a down payment on a $2M apartment building? I get appreciation, cashflow, debt payoff, and tax breaks with real estate. Gold just sits in some safe waiting for the underclass to break in and steal it.
In January 1982, gold was worth $376.11 per troy ounce. This is equivalent to $1,042.20 in 2021 dollars. Note: We determine the value of a dollar using the Consumer Price Index from December of the previous year. -Dollar Times
Yeah Schiff I bought a bunch of gold and silver at your reco, and have watched that money move sideways all year long while everything else is is up 10 20 30%.
My wife and I retired in 2018. Our monthly living expenses have been about $4,000/month until 2020 while our cash inflow from SS and pension has been $4,500/month. In 2021, we noticed a decline in what was left over monthly. As of 2022, we now have a deficit of $500/month. Inflation is getting worse and those on fixed incomes will be the ones suffering. Since we have a large investment account that we have not tapped into, it will have to provide the difference over the next 20-30 years. It seems that it will now need to earn 20% per year to keep up with inflation. This is a horror story for those with no or little resources. The “swells” in charge of the monetary system are sweeping up the crumbs left from the dollar which is almost worthless. 🤢👎
Move out to cheaper locations in Asia and those 4000 usd will stretch way longer...plus better standard of living and no trash politics...Buy Gold and enjoy
@@devsmor idk about 'No trash politics'- politics in Asia is ridiculous. But as a westerner you don't have to get involved with it and thats where the benefit is. And for sure, the lifestyle is beyond anything you would get back in Europe or State at a fraction of the cost
@@CS-zr5hd europe and Us are being intentionally destroyed by high inflation created by currency printing. Both Euro and The dollar will render europeans and Americans poor
Financial Education 101. Thank you Peter Schiff! Somehow people continue to be confused about nominal & real interest dynamics. The FED isn't "fighting" anything - they are causing it, perhaps on purpose.
The FED gave all the printed money (debt) to the corporate capitalists, TARP, QE1, QE2, QE3. They took the money and bought back their own stock. Stock market bubble = Inflation. That they ignore, while giving lip service to trying to create 2% inflation, to avoid deflation. They knew they had to keep the printed money away from the working class because that would indeed create the inflation the capitalists did not want. These people are either stupid, or there is something else going on, and they think we are stupid.
@@stevemark4660 Bitcoin is just Nasdag time 3-4 times. Just a leveraged product. If Nasdaq cracks so do Bitcoin. The last weeks should have shown you that. But if Nasdaq keeps going up thne Bitcoin is better to be in.
Just bought my first oz of gold. Been all silver, but time to switch and stack mainly gold for the year with silver saved for dip buying. Preserving wealth 101. Gold. I think it's time to take that serious with our paper dollars getting mutilated.
@CoeusQuantitative I don't think you understand wealth preservation. There's a reason why banks and nations are massively building up their gold reserves right now. The real con is crypto currency. Please tell me you understand that. Also anyone not including gold and silver in their portfolio at this point, unless they have enough money for other assets, should start now. I'll stick to doing well in the markets while also building up my assets and gold/silver instead of swing trading high risk crypto ponzi schemes.
How do you think this is preserving wealth? The shinny rocks have certainly not kept up with inflation over the last 10 - 15 years. Thats not preseving your wealth. Its preserving Peters. Lol
@@richardhubbard2151 Yep. The worst ones are the coin dealers- they hoard their inventory and make claims there is no supply (which there always is), then collectively sell at massively inflated prices. Try to sell the stuff back and see what its really worth- you will be lucky if you only lose 25%! If physical silver and gold are the only exchange medium, you will be far better off with cases of ammunition or toilet paper.
Inflation where I live is at least 13%. For example the newspaper had an article of renters getting new leases that are going up from 1600 to 2100 in the last year. Oil just broke out above 80 today. 5/2020 at 20 a barrel. Food, eating out, etc are up exponentially.
but the price of gold is in dollars... and since it bearly changes in price its also affected by inflation since the price is not rising by 7% so the 2% interest rate is actually -5% but gold is actually -7%...
Thanks for your good wishes Peter. Been following you since my early 20s back in 2009. It looks more and more like we're in a Dollar Milkshake Theory-like scenario and that the dollar will take down every other fiat currency befoe facing off against gold itself. We all know what happens then.
Same thing has happened to me in both gold and silver. Mathematically he makes sense, but in actual practice, I have not made money in metals since the early 1980s.
I remember 1980 well. We had very high inflation and gold went parabolic. Fast forward to 2022 and the fundamentals for debt and deficits and money printing are MUCH worse! I see gold going waaayyyyy up!
Happy New Year Peter always love listening to you really great explanation on how interest rates work.👍 if you could only get on mainstream media now and explain to the millions of people who are insane and going to lose everything on what the fed and government are doing to them. Once again thank you for all your insights
The S&P 500 has tripled from the 2007 peak to 2022. In which videos or articles does he recommend to invest in a major US stock index like the S&P? I don't know of any.
If the Fed does make It to 2% that's still 730 plus days away. Where we stand as of now you would still be down 13% on your money granted inflation doesn't go even higher. Even if it does drop a little bit you'll still be down. Things are terrible and the last thing I would want to own is dollars. I personally believe that gold and silver are still being manipulated.
Wow, the man who makes a living selling gold and has invested in gold argue that you should buy gold, I am amazed. ... Even though gold went down in 2021, fantastic. This is like listening to the Christian Broadcasting Network.
I am willing to bet that the real bond yields will be more negative in 2022 than 2021. The main reasons precious metals aren't moving is: 1. JP Morgan rigging the precious metal markets 2. Public disinterest. If this keeps up, I can #2 will go away, I have never in my life seen regular people concern about inflation.
It should also be noted that you are taxed every year on interest earned. So if your marginal rate of income tax is 50%, then the interest rate needs to be 14% per annum to break even in terms of purchasing power if the inflation rate is 7%. If the actual inflation rate is 10% then the break even rate of interest becomes 20%. It is unlikely that we will ever see Fed fund rates above 1%, so the probability of interest rates high enough to impact consumer price inflation is effectively zero. It should also be noted that the marginal tax rates around the world are going up. This means that future tax rates are likely to be higher than what they are today. If governments around the world add more fiscal stimulus to the existing fiscal stimulus then consumer prices will continue to increase at elevated rates, further diminishing the purchasing power of currency.
I would not be surprised to see the fed base rate in the 4-5% range by end of 2022. The resulting interest rates, which will also go up by direct indirect mechanisms, will not have an immediate affect on prices for goods and services because this is currently a supply side problem. Many companies are already pricing that in now well ahead of their borrowing costs going up, so when the interest rates actually go up the prices are already there. All the recently and about to be retired boomers are cash rich, so interest rates going up are for the most part irrelevant to them in purchasing decisions. This is why despite the fed raising the base rate, a large segment of the consumer base with hordes of cash will not stop buying goods and services and the fed will just have to keep raising the base rate. Eventually, like 1.5-2 years from now the pace of retiring boomers will slow, the ones that had retired will have gone through a lot of their cash, and interest rates will be high enough, they will start the long hibernation and put the remainder of their cash into CD, IRA, Annuity, etc., investments, and essentially put a large portion of the wealth to sleep. That is when prices for goods and services will fall, because a lot of the money to buy them will essentially be taken off the table for many years and this will cause supplies to glut also for many years.
Damn good point. Had not considered that. Also, if they do indeed raise tax rates on corporations, that will be passed on as higher prices to the consumer, additional inflation. Import duty taxes will be paid by the consumer, additional inflation.
@@KungPowEnterFist The odds of that are zero or even less than zero. The odds of a 2 percent base rate this year are also zero. It will be a miracle if the base rate gets to 1 percent in 2022.
@@tellmemoreplease9231 Almost certainly taxes are going up across the board. There is an internet myth going around that as the as interest rates go up the government will not be able to afford servicing the national debt. Complete nonsense. There are probably at least 20 major changes in taxation and government spending that can and will change over the next few years to pay for the higher servicing costs. I am not saying the government can afford 20% interest rates now and for the next 20 plus years. But 4-5% fed base rate by end of 2022 and 8-9% fed base rate by end of 2023 is serviceable in the short- and medium-term. CD, etc., rates usually float 1-1.5% on top of that. 7-year CD's at 8-10% interest would be mighty attractive for a retired still cash rich boomer looking to settle into the long sleep.
@@KungPowEnterFist My comment "Damn good point" was a response to Brian Newman's comment. Your statement is incorrect "All the recently and about to be retired boomers are cash rich". Many, maybe, but many have a border line existence. I know these people. If you think they can raise interest rates to 4% and everything will be fine, I can't help you. The interest on the national debt would be north of a trillion dollars in a little more than 2 years. Is my simple math wrong? And we will be in a recession or depression most likely. You think they will raise taxes to pay for that? Who are you going to raise that much in taxes on? The rich? Is this modern monetary theory ? Wishful thinking.
If the confidence in the dollar and the markets is lost people are going to rush for the exit to save the value of their currency. Phisical Gold and Silver bullion is the best protection against Hyperinflation.
I do not understand what will change which will be favorable for gold. There is already well-acknowledged inflation, and even before the Fed announced rate hikes, gold was not benefiting from inflation. The idea that "the market" will finally realize what's going on, without any impulse that will force them to realize something it has so far (allegedly) neglected needs more support for me to believe it. Everyone has been talking about inflation for at least half a year, and regular people have noticed it. And yet, it seems they haven't turned to gold. If 7% inflation isn't enough to make gold rise meaningfully, then I'm not sure what we're waiting for which we can rationally expect to happen in the foreseeable future.
Exactly what I thought 40 year high inflation and and no price movement whatsoever so there are clearly other market forces at play. It’s pretty clear this is not the asset you want to be holding.
I wouldn't take gold's price action in these times as a truth. It's manipulated heavily by the large banks. So you won't necessarily see a slow rise up, I think it'll be a large breakout and then rise up. That's because they can manipulate the price with paper contracts while buying isn't happening too much. They won't be able to keep it down once a big move happens during a crisis. That big move will make the rest realize that gold isn't just a dead asset as they thought. Group psychology.
@@s.flanders Pick your poison. China's real estate market collapse, lack of faith in the dollar due to inflation, a sudden stock market crash, bankruptcies of large corporations or signs of fraud in the financial system. Any of those or maybe even something that's completely unforeseeable. I kind of feel like the process of de-leveraging has already begun and market participants are on their toes, just waiting on the trigger to sell all and return to safe assets. Remember, 2008 didn't happen in a day, those things are usually rolling storms.
According to this outlined accepted Central Bank strategy you got at most until the end of Dec 2023 to see if it plays out and Gold goes ballistic. If it does not then it may simply mean the market has moved on from Gold as inflation hedge at least for the next great many years.
Same inflation argument also applies to gold if it’s price in dollar terms isn’t increasing (like this past year). And you don’t even get yield to offset it.
We're stuck with double digit inflation and the Fed can't raise double digit interest rate unless they want to spend 50%+ of the government budget on paying back interest on their massive debt. Once that reality sets in, gold is skyrocketing.
So one should look at USD from an inflation perspective but not at price (in USD) of Gold ... Over last year Gold is up 4.31% S&P500 19.09% how about 10 years Gold was $1662... So gold 10 years up 6.17% S&P 233.74% ..... I had a lot of gold miners in my portfolio and it took a Very Long time to make some good money. Peter Schiff .... Even a broken clock is correct twice a day (unless it's digital, with that one you are f... ) ,your average is worst than a broken clock.
Bro heaps will lose money in stocks while gold and silver is skyrocketing and they all scrambling to get some when there isn't any. As they scramble to price keeps going up.
Peter the other reason that gold hasn't gone up it that it's MANIPULATED lower! The rising price of PM's is a sign of a failing currency or crisis! Agree that a 2% interest rate is not bearish for gold.
It's like saying it's going to rain in Las Vegas where it bearly rains , Everyday u say today Vegas is going to rain eventually it will rain and his ass will think he whole ass genius he been saying this for years .
My man Peter lol. I still prefer other liquid assets with scalable growth potential in a quicker time frame. Gold is not bad, it is just slow. The market manipulation of gold is the biggest turn off for me. You cannot even wear gold these days without the thought of getting robbed.
Gold was $250 in 2004. Gold is $1820 today, gold has always proven it is more than a safe haven for our wealth, it’s also a great investment with ZERO risk. Only fools dismiss gold.
@@rosszhu1660 ha, ha now that’s a good one. The same people getting robbed by the fed everyday don’t want to own gold and silver in case someone robs them, but if they are so worthless, no one will rob u lol. Do these people not see China, India, European Union, Russia, and every central bank in the world stock piling gold? I think I’m done trying to explain simple math and history to these sheep. But you put it so perfectly with your comment.
Spent years in Dental Lab making Crowns and Bridges for Dentists in my area. Not that long ago almost all C&B Work had gold in it or, around 1970 started using cheaper at the time, silver palladium in it to support the porcelain. Gold in Gold Crowns at our Lab was 63% gold, a higher Gold Content than 14k. A small Lab could easily go through 10 ounces a month with 4 people doing the work, there are many 35 man Labs and more that use much more gold. Now we aren't using as much gold due to new materials and 3D printing. There is still Gold being used in dentistry but not as much. Someday I suspect they will take gold out of dentistry. I can't tell you the total amount of gold used in Dentistry for all Dental Work since the 20th Century but it is A LOT! Like I said it has been going down since 1970 with Non Precious Metals, Silver Palladium, Acrylics, Porcelain Jackets (old school but still used), and 3D Printing. We are talking about a lot of Gold when you consider how much gold has been used and is losing ground around the world. I always thought Gold would go the way of the T Rex and it will someday, gradually at first.
I believe the Fed is waiting to raise the interest rates till March because the recent approved spending hasn't went out in the form of wages and consumer spending. The whole interest rate raising is not to contain inflation. It is politically motivated and they want 1.5% prior to the election and then back to zero before the election, so the appearance looks good in the stock market. If the interest rate increases start in March and are .25% then the real inflation will be higher by then and I'm expecting gold to slow when it first comes out but very quickly rally. It will be obvious that they will in no way keep up or slow inflation.
@ziggy C Not an economist but been in this a long time and watching it continuously. These politicians play a game and the Fed is happy to do it for them, if they are favored by the global elite establishment. The Fed is part of the establishment.
I'm with Peter in that we'll never see sustained rate hikes because the Fed would cripple the markets and so they'll panic and continue their money printing until hyperinflation occurs. They have no more bullets so they will just push the time forward before we reset the currency and go on a digital Fed coin. I may differ with Peter here but I believe the US will negotiate a deal on the debt like other bankrupt countries and go on a digital Fed coin that will crash Crypto currencies except for precious metals.
Nailed it. Crypto right now is to normalize a digital currency from the fed. Easier for people to accept as it was always "the future." People don't realize a digital currency means everything is tracked and controlled. Silver and gold, and even cash, is hard to trace or untraceable. Precious metals should be part of everyone's portfolios at this point, and even a bigger portion now than ever.
You may be missing one thing here. The gang has no laws. When they run out of bullets they "write" new ones into existence. I think they will separate the rate they pay from the rate we pay. FED does not care about markets. They always try to appear that they do care, because that sounds better than caring ONLY for the government debt service, since currently those rates are linked anyway. Once they are separated, we will find out just how much the FED put is worth.
Let's face it, bitcoin did what gold bugs said gold would do for 30 years. Gold will do ok but bitcoin will still do better than gold moving forward most likely. Most own both at this junction.
Hi Peter, I watch a video from Stansberry Research hosted by Danielle Carbone. Her guest was Jim Rickard. It was made at the end of 2021. She was asking him his forecast for 2022. He said that 2021 was the year of high inflation but it’s going to drop precipitously in 2022. He also said inflation is NOT an increase in the money supply. I listen to your podcast and constantly watch you TH-cam channel. Your analysis of inflation makes the most sense. Rickard is a very smart guy. Why is his view so divergent from your’s? Incidentally, he does believe bitcoin is a pyramid and doesn’t invest in it.
Good questions. Rickards is a close friend of govt. (same people that killed Peter's father for fun) - watch Rickards' early videos and you will know, he used to talk about his close relations. This tells you what he will be pitching. Inflation is exactly the increase in the money supply. Look it up in a dictionary, just don't use any dictionary from this government - they change the meaning of words to screw up our minds without even winning the argument. You can also check any of the big ones like Freidman, Mises, Rothbard.
Peter's commentary is totally spot on (no pun intended to preciouses metals). Initially the fed will make very modest increases in interest rates and will seek to drive the price of metals down if at all possible, but this is having less and less affect on the metals price.
I'm a huge fan Petsr, but you always have an excuse why gold doesn't shine when it's supposed to. All of your predictions for gold make sense, but what does that matter when investors do the opposite?
I like Peter and listen to his podcast regularly. But he thinks about inflation and monetary policy in an absolute vacuum together. He never discusses mitigating factors such as improvements in productivity which largely kept a lid on inflation in the decade following the 2008 financial crisis. While his scenario or something close to it seems more possible than ever, it is just that. A possibility, not an inevitability.
Game changing technology could help the US grow out of some of the problems, you just never know. But it does seem to get exponentially worse so I'm betting on another 08 style crisis in the next few years.
I was looking at the CPI vs FFER chart on Twitter and although I’m a newbie I immediately noticed every single time since 1960 if cpi was over 5%, FFER would have to be the same or above the CPI to combat inflation. some were saying how the supply chain issue gets better that’s going to help inflation but I don’t buy it and it’s not possible for the fed to raise it above CPI due to the debt. So my question is, is it even possible for the fed to raise interest rates higher or the same or higher than CPI?
Great explanation you made it easy to understand! I like the way you explained opportunity cost. I just wish you would also understand Bitcoin and not just worry that it's competition for gold. I own both. That is probably the best advice. Lyn Alden would agree.
People right now are not interested in maintaining wealth by purchasing gold. People are interested in BUILDING WEALTH by gambling on stocks, cryptocurrencies, etc. I invest in Real Estate and stocks. I own homes in NYC and I’ve seen nothing but appreciation since 2008 - even with the economic recessions. I can rent either of my houses to students in college, senior citizens, etc. I can even rent to AIR BnB. A paid off mortgage offers dividends like no other stock or crypto can.
Best rest up Peter, stay fit 💪 because Once the markets realize they’ve been fed methadone instead of heroin , they’ll be FLOCKING to buy GOLD, so they can buy real heroin. Many are called, but few are chosen 😉
Peter, You did an interview with Kevin Paffrath on meetKevin show. Kevin is actually very open minded, but he has admitted that at the end of the day he is a Keynesian. It would be really neat if you two could trade blows and do a friendly debate in defense of Austrian economics vs Keynesian economics. You could defend Austrian and Kevin could defend Keynesian. You’d get millions of views
You know what Robert Maynard Keynes said to Milton Freedman when asked about the inevitable destruction of the dollar from money printing? He said: "Who cares? We'll all be dead!" Yeah these are the people running our monetary system. Keynes was a self admitted statistician, *not* an economist.
Even Brent Johnson admitted that while gold does badly at 0-2% inflation, it does very well at 5% and above. I think he meant the difference between official inflation and fed rate, which cannot be lowered anywhere near 5% (i.e. raising rate to 2%), without repo markets going haywire like in 2019.
I came across PS a few years ago on Joe Rogan. Interesting that nothing has really changed. Yes we are seeing inflation this year but no economic collapse or crash. Thoughts?
As Mark Twain famously said. How did you go bankrupt. We’ll, slowly at first then all of a sudden. Would you rather be a year early (or 20 years in my case) or a day late?
You say “ then Gold is going to go ballistic” You will be wrong again. This past year Gold isn’t even keeping up with the worst inflation in 40 years. I know I know just wait..it’s being artificially suppressed. I Love physical gold too. It’s amazing to hold Just isn’t hedging this year and you can’t deny that fact
I’d say we’re about 15% inflation. So it takes more fiat to buy goods. Keep stacking . Put it away and forget about it. The ones who been stacking gold and silver are sleeping better at night. Thanks Peter. 🙏🇺🇸🦅
@♜♜ ᏢᎬᎢᎬᎡ ᏚCᎻᏆFF.. I don’t think so. Stop 🛑 scamming . 🇺🇸🦅
Its getting frustrating with the manipulation but it can't last forever
IS IT REAL YOU BETTER GIVE MULTI TESTS.
Imagine if you just tucked that money into bitcoin back in 2013 👀👀👀 hahahaha
%15 is very low. We are at almost 30%! Everyone says 15% to seem modest and not tin foil.
Been a buyer for over 15 years. Painful sometimes but when the day of reckoning comes this will be sweet. I feel bad for the people who don't see this coming.
@@boomeyeay no not everyone does but you can always be a d bag online lol
maybe gold will do a rhodium
Bitcoin ! up 41,000% in ten years
Unfortunately, when the "day of reckoning" comes, it still won't be sweet, unless you take pleasure in watching other people lose. Because if gold is going up, then that means the prices of everything else is going up as well.
So unless you are going to sell that gold after it goes up to pay off debt, you won't really be better off than you were before. You just won't be in as bad of shape as most other people.
Only people with critical thinking mindset will understand the value of gold and silver.
One of the most brilliant economists alive. Predicted the 2000 Nasdaq Crash, 2006 Subprime Mortgage Crisis and 2007/8 Financial crisis. Uploads wonderful regular podcasts, commenting on everything from legal to political to racial to gender matters, as well as economic theory and market related data. I am so thankful to have discovered the Austrian School of economics in general, and Peter Schiff in particular. He's a genius of a much corrupted and misunderstood science. I've listened to hundreds of his podcasts (up to an hour long!) and have learnt a tremendous amount from him. Grateful and ecstatic to have you, Peter! If you ever visit London, please consider visiting my restaurant. You are a living legend; a masterful thinker who is not afraid to take on the Woke left, the Political Correctness brigade, puppets of the mainstream media, mistaken Keynesians, deluded MMT'ers, central bankers of the world, and statists in general. I salute you, sir! A great son of a great father! May God/Nature bless you more and more!
Peter is right about a lot of things. But sometimes his timing and underestimation of how long things can remain irrational, can be deadly for investors.
He’s fundamentally right though, just watch the timing!
Hi Hakan
100 per cent correct ,I'm in UK would like to hook up for a beer sometime.
Schiff is a salesman nothing more, has got nothing right since the GFC. Listening to him is a guaranteed way to be poor.
@@rontimus for traders perhaps, not investors
@@deanchalmers3866 What do you know, idiot? NOTHING!
All market conditions are positive for Gold. Regardless if gold has underperformed. Gold price is a confidence game.
Yeah right...Bitcoin is back on the mend...Gold is falling dont kid yourself
Peter predicted if we break bitcoin 42k range, we are going down to 30k. Another bad prediction. Market conditions are much better for Bitcoin.
@@ZelenoJabko BTC has been in a downtrend since November why would you think his 30k prediction is wrong? It hasn’t flipped its trend
@@coreybates7412 I think if the dollar starts to have problems, bitcoin will benefit, not gold. The fed can reverse the bitcoin trend.
@♜♜ ᏢᎬᎢᎬᎡ ᏚCᎻᏆFF.. bot
Excellent commentary. I've been exchanging dollars for money since 2008. I've also been day trading in the paper markets and made significant nominal dollar gains. Unfortunately, prices are so twisted, I have no idea if I'm ahead in real gains? I suppose it depends on what is being measured but trading some of those gains for physical gold seems prudent.
Ultimately, I think the social consequences are going to be so ugly, even the wealthiest among us will not be able to enjoy their success. I'd rather be poor in a stable nation with a functioning social contract than rich in a 3rd world sh*thole. This sucks.
@Daniel "...exchanging dollars for money..." Dollars are a form of money.
@@Lawliet734 No, they are not. Dollars are form of currency. Dollars do not satisfy all requirements to be money.
@@suediem9315 "Dollars are form of currency." Currency = money. Dollar is currency; therefore, dollar is money. No word game please!
@@Lawliet734 Currency DOES NOT EQUAL Money 🤣 A FIAT line of credit is not Money. You're the only one here playing "word games" because you are ignorant. Words have meaning and currency is not the same as money. Go edumacate yourself. 🤡
@@Lawliet734 LOL
Title of the video is the same for the past 10 years.
Peter always makes perfect sense. Why would anybody with any common sense park their money in the bank with 1% interest and inflation is 10% and rising. Gold and silver will not only preserve wealth but will probably increase it when everyone finally realizes what is going on
How is gold preserving wealth if you buy it using fiat and then the price of gold is not rising while inflation is?
You are right on, Sir. I just hope we are not 50 years off...
@CoeusQuantitative what an idiotic comment!! When the prices are manipulated, the real price cannot be known. You are so brainwashed you need to stop believing the MSM and look at supply and demand for all commodities per year and then try to see how each price is justified.
Everybody thinks that the fed will fight inflation so gold won’t go up. And when they finally realize that the fed won’t do anything it means risk on and gold sells off. Classic.
I must be doing something wrong because l have lost my ass in gold and silver stocks in the last 10+ years. Only physical gold has somewhat held up. Silver is a complete looser..... soooo manipulated.
Another factor that affects the gold price is the highly oversold paper gold market. When people run to sell off their gold (paper) contracts it will temporarily send the price of actual physical gold lower, then as history has proven the price of the actual metal will rise dramatically.
They need a bit of time between cash settlement and buying physical, and there's not gonna be enough. At those prices at least.
@@ricois3 well said! just replace the word gold with BITCOIN and you can say this is the most accurate video!
Hi Paul, could you point me to historic examples of this. Much apprecaited
@@andrewyoung489 2008 financial crisis
Gold hasn't increase exponentially in value also, because nowadays Investors want to get rich fast, and go after the hype with meme Stocks or Cryptocurrencies schemes. Or after the new scheme trending as NFTs.
So crypto currency adoption and robinhood meme traders are holding gold prices down... right
@@james3876 because people that pump them, tend to devalue to invest into other things as Precious Metals and Property.
BTC , NFTs , CRYPTOS are not a scam .. you're confused sir.
And with the rise of leveraged newbie traders. The bubble will prick in those high flyers and everything will come crashing down in the highly speculative space.
Yes, RogerM. You must realize that people who buy gold understand one thing that people who buy Bitcoin don't. When the ponzi scheme fails, Bitcoin holders will be knocking on every door, demanding and begging for their fortunes to be returned. To no avail. These companies know already today, that when the day comes they will simply declare bankruptcy, and fly away to their private islands. We are experiencing "peak of trust" environment. Next is going to be the realization that the trust itself is a disease. This is what Bitcoin "investors" will have to learn the hard way. Gold buyers have no trust. It used to say on American coins "In God We Trust", and by that it meant "Everyone else pays in gold coin". The people who put that on their coin lived hard life and learned their lessons. But It is nothing new (under the sun). Idiots lived in times before. Tulip bubble? John Law and his schemes?
gold isnt an investment, its real saving
No it's not. Its just a Highly overpriced commodity. Highly overpriced because many have used it as a store of value not so much the new generations. You don't decide what the value of an asset is. The market as a whole does. Gold has lost it's luster. 20 years ago many were wearing gold jewelry to show off, when was the last time you saw someone, especially a younger person wearing gold. Gold is tacky!
@Major Cbass Another arrogant cultist. You don't know me. I design electronics myself. That is why I called it a commodity. highly overpriced for the usage it has due to the fact that many have considered it a store of value, medium of exchange ... on top of it being a mere commodity. Gold is a highly overpriced commodity.
Inflation applies to everything…except gold…the scam has to end someday…hopefully before I die 🙄
What do you mean? Your comment makes no sense
@@normanwestern9450 apply inflation since 1980 r gold ad it should be $3500 easily…wake up
Why I'm looking for a way out. Bitcoin is impossible to manipulate in the longterm and is the new gold/silver imo.
Ok. Let me explain. I work in the electronics industry. In fact I myself design electronics. I am fully aware of importance of gold in electronics. Gold is a useful commodity. That's all nothing more!
Although gold's usage in electronics has increased over time, it's other usage in jewelry industry has declined significantly. People used to wear gold to show off. That's simply not the case anymore. Gold is tacky, they show off with newest phone model!
But the main problem with gold is that it used to be much more than just a mere commodity. It used to be a medium of exchange, half of every transaction, i.e half of the entire economy! and also it used to be regarded as a store of value. It simply is not a medium of exchange anymore and less and less people regard it a store of value. especially younger generations.
These two legacy utilities are ALREADY priced in in the price of gold. This makes gold a HIGHLY OVERPRICED COMMODITY!
Have an open mind. Don't waste your life sticking to the same idea forever. World changes.
@CoeusQuantitative Imagine being as dumb as who? It is not clear who you are replying to.. Care to elaborate?
Oh fuq gold. Tell me how buying $500,000 worth of gold would outperform putting that money as a down payment on a $2M apartment building? I get appreciation, cashflow, debt payoff, and tax breaks with real estate. Gold just sits in some safe waiting for the underclass to break in and steal it.
In January 1982, gold was worth $376.11 per troy ounce.
This is equivalent to $1,042.20 in 2021 dollars.
Note: We determine the value of a dollar using the Consumer Price Index from December of the previous year.
-Dollar Times
Yeah Schiff I bought a bunch of gold and silver at your reco, and have watched that money move sideways all year long while everything else is is up 10 20 30%.
My wife and I retired in 2018. Our monthly living expenses have been about $4,000/month until 2020 while our cash inflow from SS and pension has been $4,500/month. In 2021, we noticed a decline in what was left over monthly. As of 2022, we now have a deficit of $500/month. Inflation is getting worse and those on fixed incomes will be the ones suffering. Since we have a large investment account that we have not tapped into, it will have to provide the difference over the next 20-30 years. It seems that it will now need to earn 20% per year to keep up with inflation. This is a horror story for those with no or little resources. The “swells” in charge of the monetary system are sweeping up the crumbs left from the dollar which is almost worthless. 🤢👎
Hey, it looks you both retired young. You still have a capability to go back to the workforce.
Move out to cheaper locations in Asia and those 4000 usd will stretch way longer...plus better standard of living and no trash politics...Buy Gold and enjoy
@@devsmor idk about 'No trash politics'- politics in Asia is ridiculous. But as a westerner you don't have to get involved with it and thats where the benefit is. And for sure, the lifestyle is beyond anything you would get back in Europe or State at a fraction of the cost
@@CS-zr5hd europe and Us are being intentionally destroyed by high inflation created by currency printing. Both Euro and The dollar will render europeans and Americans poor
Those on a fixed income will be grinded into dust as the inflation rate goes exponential.
Financial Education 101. Thank you Peter Schiff!
Somehow people continue to be confused about nominal & real interest dynamics.
The FED isn't "fighting" anything - they are causing it, perhaps on purpose.
Yeah it's on purpose how could Usa be free from it's debt without inflation?
The FED gave all the printed money (debt) to the corporate capitalists, TARP, QE1, QE2, QE3. They took the money and bought back their own stock.
Stock market bubble = Inflation. That they ignore, while giving lip service to trying to create 2% inflation, to avoid deflation.
They knew they had to keep the printed money away from the working class because that would indeed create the inflation the capitalists did not want.
These people are either stupid, or there is something else going on, and they think we are stupid.
well said! just replace the word gold with BITCOIN and you can say this is the most accurate video!
@@stevemark4660 Bitcoin is just Nasdag time 3-4 times. Just a leveraged product. If Nasdaq cracks so do Bitcoin. The last weeks should have shown you that.
But if Nasdaq keeps going up thne Bitcoin is better to be in.
@@bennyboy5374 true Benny can you explain the correlation and why is that?
Just bought my first oz of gold. Been all silver, but time to switch and stack mainly gold for the year with silver saved for dip buying.
Preserving wealth 101. Gold. I think it's time to take that serious with our paper dollars getting mutilated.
@CoeusQuantitative I don't think you understand wealth preservation. There's a reason why banks and nations are massively building up their gold reserves right now. The real con is crypto currency. Please tell me you understand that.
Also anyone not including gold and silver in their portfolio at this point, unless they have enough money for other assets, should start now. I'll stick to doing well in the markets while also building up my assets and gold/silver instead of swing trading high risk crypto ponzi schemes.
@CoeusQuantitative Wait till they try to sell the stuff and find out they lost (-25%) from the very start.
How do you think this is preserving wealth? The shinny rocks have certainly not kept up with inflation over the last 10 - 15 years. Thats not preseving your wealth. Its preserving Peters. Lol
@@richardhubbard2151 Yep. The worst ones are the coin dealers- they hoard their inventory and make claims there is no supply (which there always is), then collectively sell at massively inflated prices. Try to sell the stuff back and see what its really worth- you will be lucky if you only lose 25%! If physical silver and gold are the only exchange medium, you will be far better off with cases of ammunition or toilet paper.
@@richardhubbard2151 Man you have a lot to learn. Stick with your groud breaking crypto and NFTs. Good luck.
Always nice to listen to.
Inflation where I live is at least 13%. For example the newspaper had an article of renters getting new leases that are going up from 1600 to 2100 in the last year. Oil just broke out above 80 today. 5/2020 at 20 a barrel. Food, eating out, etc are up exponentially.
Sugar babies have become more expensive too
EXCELLENT !! 100% agree with you Peter 👍👍
but the price of gold is in dollars... and since it bearly changes in price its also affected by inflation since the price is not rising by 7% so the 2% interest rate is actually -5% but gold is actually -7%...
This is true, OR gold is getting cheaper.
When PS says " Rate hikes are bearers for gold, keeping a lid on price of gold"; what does that mean?
Best advise info ever, thank you!
Houses are up %35 in my area, inflation is much higher than %30 , because housing is the biggest cost of living for most people.
Thanks for your good wishes Peter. Been following you since my early 20s back in 2009. It looks more and more like we're in a Dollar Milkshake Theory-like scenario and that the dollar will take down every other fiat currency befoe facing off against gold itself. We all know what happens then.
Gold won't survive higher rates
@@douglassantet647 it seems to be doing brilliantly with higher rates. Higher every day. Watch it when they drop
I hope you are right this time. I have been following your advice for decades and my return has been dismal.
Same thing has happened to me in both gold and silver. Mathematically he makes sense, but in actual practice, I have not made money in metals since the early 1980s.
I remember 1980 well. We had very high inflation and gold went parabolic. Fast forward to 2022 and the fundamentals for debt and deficits and money printing are MUCH worse! I see gold going waaayyyyy up!
Modern Theory has completely disproved that l would say. Crypto ruined PM's.
Bro I'm down 20% on your gold fund
Happy New Year Peter always love listening to you really great explanation on how interest rates work.👍 if you could only get on mainstream media now and explain to the millions of people who are insane and going to lose everything on what the fed and government are doing to them. Once again thank you for all your insights
He was on CNBC all the time, but they don’t have him on anymore hhhhmmmm…lol
@@MrFife80 😂 l wonder why
His show gets just as many eyeballs/ears as most mainstream media news shows. MSM is dead. Peter's only getting bigger. Get on Rogan though?
@@pauldiezel4584 you need more people in government like Peter. Doesn't try to bend the truth
Happy New Year to you too. Tks for your free advice for the past 8 Years.
It's one thing to be early. But to be 10+ years early just means we've lost out on all the non-gold gains to the extent we invested in gold.
I believe Peter only recommends people have around 10% of their portfolio in gold. You should have other investments.
The S&P 500 has tripled from the 2007 peak to 2022. In which videos or articles does he recommend to invest in a major US stock index like the S&P? I don't know of any.
If the Fed does make It to 2% that's still 730 plus days away. Where we stand as of now you would still be down 13% on your money granted inflation doesn't go even higher. Even if it does drop a little bit you'll still be down. Things are terrible and the last thing I would want to own is dollars. I personally believe that gold and silver are still being manipulated.
Wow, the man who makes a living selling gold and has invested in gold argue that you should buy gold, I am amazed. ... Even though gold went down in 2021, fantastic. This is like listening to the Christian Broadcasting Network.
So you buy assets when they're up?
I have gold, silver and bitcoin. Have a great new year, Pete!
I am willing to bet that the real bond yields will be more negative in 2022 than 2021. The main reasons precious metals aren't moving is: 1. JP Morgan rigging the precious metal markets 2. Public disinterest. If this keeps up, I can #2 will go away, I have never in my life seen regular people concern about inflation.
dont forget about stupid cryptos taking a huge chunk of the investment pie too
5 months later and inflation has climbed, prices are crazy, and gold is still going sideways.
He been saying that for how long now ? 🤣
Please increase volume
It should also be noted that you are taxed every year on interest earned.
So if your marginal rate of income tax is 50%, then the interest rate needs to be 14% per annum to break even in terms of purchasing power if the inflation rate is 7%. If the actual inflation rate is 10% then the break even rate of interest becomes 20%.
It is unlikely that we will ever see Fed fund rates above 1%, so the probability of interest rates high enough to impact consumer price inflation is effectively zero.
It should also be noted that the marginal tax rates around the world are going up. This means that future tax rates are likely to be higher than what they are today. If governments around the world add more fiscal stimulus to the existing fiscal stimulus then consumer prices will continue to increase at elevated rates, further diminishing the purchasing power of currency.
I would not be surprised to see the fed base rate in the 4-5% range by end of 2022. The resulting interest rates, which will also go up by direct indirect mechanisms, will not have an immediate affect on prices for goods and services because this is currently a supply side problem. Many companies are already pricing that in now well ahead of their borrowing costs going up, so when the interest rates actually go up the prices are already there. All the recently and about to be retired boomers are cash rich, so interest rates going up are for the most part irrelevant to them in purchasing decisions. This is why despite the fed raising the base rate, a large segment of the consumer base with hordes of cash will not stop buying goods and services and the fed will just have to keep raising the base rate. Eventually, like 1.5-2 years from now the pace of retiring boomers will slow, the ones that had retired will have gone through a lot of their cash, and interest rates will be high enough, they will start the long hibernation and put the remainder of their cash into CD, IRA, Annuity, etc., investments, and essentially put a large portion of the wealth to sleep. That is when prices for goods and services will fall, because a lot of the money to buy them will essentially be taken off the table for many years and this will cause supplies to glut also for many years.
Damn good point. Had not considered that.
Also, if they do indeed raise tax rates on corporations, that will be passed on as higher prices to the consumer, additional inflation.
Import duty taxes will be paid by the consumer, additional inflation.
@@KungPowEnterFist The odds of that are zero or even less than zero. The odds of a 2 percent base rate this year are also zero. It will be a miracle if the base rate gets to 1 percent in 2022.
@@tellmemoreplease9231 Almost certainly taxes are going up across the board. There is an internet myth going around that as the as interest rates go up the government will not be able to afford servicing the national debt. Complete nonsense. There are probably at least 20 major changes in taxation and government spending that can and will change over the next few years to pay for the higher servicing costs. I am not saying the government can afford 20% interest rates now and for the next 20 plus years. But 4-5% fed base rate by end of 2022 and 8-9% fed base rate by end of 2023 is serviceable in the short- and medium-term. CD, etc., rates usually float 1-1.5% on top of that. 7-year CD's at 8-10% interest would be mighty attractive for a retired still cash rich boomer looking to settle into the long sleep.
@@KungPowEnterFist My comment "Damn good point" was a response to Brian Newman's comment.
Your statement is incorrect "All the recently and about to be retired boomers are cash rich". Many, maybe, but many have a border line existence. I know these people.
If you think they can raise interest rates to 4% and everything will be fine, I can't help you. The interest on the national debt would be north of a trillion dollars in a little more than 2 years. Is my simple math wrong? And we will be in a recession or depression most likely. You think they will raise taxes to pay for that?
Who are you going to raise that much in taxes on? The rich?
Is this modern monetary theory ? Wishful thinking.
If the confidence in the dollar and the markets is lost people are going to rush for the exit to save the value of their currency. Phisical Gold and Silver bullion is the best protection against Hyperinflation.
I do not understand what will change which will be favorable for gold. There is already well-acknowledged inflation, and even before the Fed announced rate hikes, gold was not benefiting from inflation.
The idea that "the market" will finally realize what's going on, without any impulse that will force them to realize something it has so far (allegedly) neglected needs more support for me to believe it. Everyone has been talking about inflation for at least half a year, and regular people have noticed it. And yet, it seems they haven't turned to gold.
If 7% inflation isn't enough to make gold rise meaningfully, then I'm not sure what we're waiting for which we can rationally expect to happen in the foreseeable future.
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✛Ⓘ②ⓛ⑨⑧④②⑧⑦⑤⑦✔️✔️ 💬...
Exactly what I thought 40 year high inflation and and no price movement whatsoever so there are clearly other market forces at play. It’s pretty clear this is not the asset you want to be holding.
I wouldn't take gold's price action in these times as a truth. It's manipulated heavily by the large banks. So you won't necessarily see a slow rise up, I think it'll be a large breakout and then rise up. That's because they can manipulate the price with paper contracts while buying isn't happening too much. They won't be able to keep it down once a big move happens during a crisis. That big move will make the rest realize that gold isn't just a dead asset as they thought. Group psychology.
But what would cause a big move? Why would the manipulation and price suppression ever stop?
@@s.flanders Pick your poison. China's real estate market collapse, lack of faith in the dollar due to inflation, a sudden stock market crash, bankruptcies of large corporations or signs of fraud in the financial system. Any of those or maybe even something that's completely unforeseeable. I kind of feel like the process of de-leveraging has already begun and market participants are on their toes, just waiting on the trigger to sell all and return to safe assets. Remember, 2008 didn't happen in a day, those things are usually rolling storms.
Well said. Three or four quarter point increases will be way too little way too late.
I buy seafood salad, it was $4.00, then $4.80 (+20%), then $5.00 (+25%). It also shrunk 25%. So, what is that, 40% inflation?
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✛Ⓘ②ⓛ⑨⑧④②⑧⑦⑤⑦✔️💬.
66%
3/4 of a $4 salad is 3 bucks. 3 bucks to 5 bucks is 66%
@@james3876 yeah, that's what I finally came up with, thanks. So...66% is a far cry from 6% inflation! I'm buying gold!
Where do you live, in China? I would sure love to buy a salad for $5. Tonight I had a burrito and nachos for $25
@@conq3097 It's just Walmart seafood salad (pollock).
Happy New Year Pete! We NEED a straight shooter like you to LEVEL with us and fix what's broken! God Speed!
According to this outlined accepted Central Bank strategy you got at most until the end of Dec 2023 to see if it plays out and Gold goes ballistic. If it does not then it may simply mean the market has moved on from Gold as inflation hedge at least for the next great many years.
The younger generations are investing into crypto not gold
He's been making this same call for 20 years. He is a perma-goldbug.
Thanks, Peter stiff
Same inflation argument also applies to gold if it’s price in dollar terms isn’t increasing (like this past year). And you don’t even get yield to offset it.
We're stuck with double digit inflation and the Fed can't raise double digit interest rate unless they want to spend 50%+ of the government budget on paying back interest on their massive debt. Once that reality sets in, gold is skyrocketing.
They just pay themselves!
I hope you are right but so far the masses still only have faith in worthless fiat.
So one should look at USD from an inflation perspective but not at price (in USD) of Gold ... Over last year Gold is up 4.31% S&P500 19.09% how about 10 years Gold was $1662... So gold 10 years up 6.17% S&P 233.74% ..... I had a lot of gold miners in my portfolio and it took a Very Long time to make some good money. Peter Schiff .... Even a broken clock is correct twice a day (unless it's digital, with that one you are f... ) ,your average is worst than a broken clock.
Bro heaps will lose money in stocks while gold and silver is skyrocketing and they all scrambling to get some when there isn't any. As they scramble to price keeps going up.
@@pauljosse you are not using the traditional meaning of "skyrocketing" or you have never seen a start of the rocket. Check my numbers ....
Peter Schiff the GOAT 🐐 🙌
The greatest at picking the wrong horse?
Peter the other reason that gold hasn't gone up it that it's MANIPULATED lower! The rising price of PM's is a sign of a failing currency or crisis! Agree that a 2% interest rate is not bearish for gold.
All markets are manipulated
Happy new year Peter, you are the man
very good commentary, helpful, thanks so much
It's like saying it's going to rain in Las Vegas where it bearly rains , Everyday u say today Vegas is going to rain eventually it will rain and his ass will think he whole ass genius he been saying this for years .
Any comment with regards to miners vs. metal prices and what responds to what, or what comes first?
My man Peter lol. I still prefer other liquid assets with scalable growth potential in a quicker time frame. Gold is not bad, it is just slow. The market manipulation of gold is the biggest turn off for me. You cannot even wear gold these days without the thought of getting robbed.
Yeah, I rather retire early than own useless metals.
@@flamefusion8963 get ready to stand in the bread lines then.
Think about it. Why you may get robbed of useless metals?
Gold was $250 in 2004. Gold is $1820 today, gold has always proven it is more than a safe haven for our wealth, it’s also a great investment with ZERO risk. Only fools dismiss gold.
@@rosszhu1660 ha, ha now that’s a good one. The same people getting robbed by the fed everyday don’t want to own gold and silver in case someone robs them, but if they are so worthless, no one will rob u lol. Do these people not see China, India, European Union, Russia, and every central bank in the world stock piling gold? I think I’m done trying to explain simple math and history to these sheep. But you put it so perfectly with your comment.
Spent years in Dental Lab making Crowns and Bridges for Dentists in my area. Not that long ago almost all C&B Work had gold in it or, around 1970 started using cheaper at the time, silver palladium in it to support the porcelain. Gold in Gold Crowns at our Lab was 63% gold, a higher Gold Content than 14k. A small Lab could easily go through 10 ounces a month with 4 people doing the work, there are many 35 man Labs and more that use much more gold.
Now we aren't using as much gold due to new materials and 3D printing. There is still Gold being used in dentistry but not as much. Someday I suspect they will take gold out of dentistry. I can't tell you the total amount of gold used in Dentistry for all Dental Work since the 20th Century but it is A LOT! Like I said it has been going down since 1970 with Non Precious Metals, Silver Palladium, Acrylics, Porcelain Jackets (old school but still used), and 3D Printing.
We are talking about a lot of Gold when you consider how much gold has been used and is losing ground around the world. I always thought Gold would go the way of the T Rex and it will someday, gradually at first.
I believe the Fed is waiting to raise the interest rates till March because the recent approved spending hasn't went out in the form of wages and consumer spending. The whole interest rate raising is not to contain inflation. It is politically motivated and they want 1.5% prior to the election and then back to zero before the election, so the appearance looks good in the stock market.
If the interest rate increases start in March and are .25% then the real inflation will be higher by then and I'm expecting gold to slow when it first comes out but very quickly rally. It will be obvious that they will in no way keep up or slow inflation.
Dam how you know so muchhh
Are you an economist ?
@ziggy C Not an economist but been in this a long time and watching it continuously. These politicians play a game and the Fed is happy to do it for them, if they are favored by the global elite establishment. The Fed is part of the establishment.
TY Peter - Happy New Year!!!!
I'm with Peter in that we'll never see sustained rate hikes because the Fed would cripple the markets and so they'll panic and continue their money printing until hyperinflation occurs. They have no more bullets so they will just push the time forward before we reset the currency and go on a digital Fed coin. I may differ with Peter here but I believe the US will negotiate a deal on the debt like other bankrupt countries and go on a digital Fed coin that will crash Crypto currencies except for precious metals.
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✛Ⓘ②ⓛ⑨⑧④②⑧⑦⑤⑦✔️✔️ 💬..
Nailed it. Crypto right now is to normalize a digital currency from the fed. Easier for people to accept as it was always "the future." People don't realize a digital currency means everything is tracked and controlled. Silver and gold, and even cash, is hard to trace or untraceable. Precious metals should be part of everyone's portfolios at this point, and even a bigger portion now than ever.
just enough taper so they can crash the stock market, so that people will be begging to print to infinity and then were toast.
You may be missing one thing here. The gang has no laws. When they run out of bullets they "write" new ones into existence. I think they will separate the rate they pay from the rate we pay. FED does not care about markets. They always try to appear that they do care, because that sounds better than caring ONLY for the government debt service, since currently those rates are linked anyway. Once they are separated, we will find out just how much the FED put is worth.
@@ryanturner8577 thank you for having a brain
HAPPY new year Peter 🦖✌️
Peter’s spot on but I would argue silver premiums too high.
My guess is, it's suppressed/manipulated prices forcing miners, minters and dealers to charge higher premiums.
It's because of physical demand. Paper spot is bullshit
on math alone silver should be a couple hundred bucks so even $50 silver is a steal. I'm all in on silver
@@abyss5883 it's super cheap right now
what about jpm rigging the price.
Let's face it, bitcoin did what gold bugs said gold would do for 30 years. Gold will do ok but bitcoin will still do better than gold moving forward most likely. Most own both at this junction.
People who own both generally don't understand money or bitcoin well enough
Hi Peter, I watch a video from Stansberry Research hosted by Danielle Carbone. Her guest was Jim Rickard. It was made at the end of 2021. She was asking him his forecast for 2022. He said that 2021 was the year of high inflation but it’s going to drop precipitously in 2022. He also said inflation is NOT an increase in the money supply. I listen to your podcast and constantly watch you TH-cam channel. Your analysis of inflation makes the most sense. Rickard is a very smart guy. Why is his view so divergent from your’s? Incidentally, he does believe bitcoin is a pyramid and doesn’t invest in it.
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✛Ⓘ②ⓛ⑨⑧④②⑧⑦⑤⑦✔️💬.
Good questions. Rickards is a close friend of govt. (same people that killed Peter's father for fun) - watch Rickards' early videos and you will know, he used to talk about his close relations. This tells you what he will be pitching. Inflation is exactly the increase in the money supply. Look it up in a dictionary, just don't use any dictionary from this government - they change the meaning of words to screw up our minds without even winning the argument. You can also check any of the big ones like Freidman, Mises, Rothbard.
Peter's commentary is totally spot on (no pun intended to preciouses metals). Initially the fed will make very modest increases in interest rates and will seek to drive the price of metals down if at all possible, but this is having less and less affect on the metals price.
THANKS PETER!!!! I just sold 1 BITCOIN that I bought in 2016 for 250 dollars and bought 24 OUNCES of GOLD!!!! What a deal !!!
I'm a huge fan Petsr, but you always have an excuse why gold doesn't shine when it's supposed to. All of your predictions for gold make sense, but what does that matter when investors do the opposite?
Refreshing to SEE you speak without interruptions as opposed to only hearing it that way!
I like Peter and listen to his podcast regularly. But he thinks about inflation and monetary policy in an absolute vacuum together. He never discusses mitigating factors such as improvements in productivity which largely kept a lid on inflation in the decade following the 2008 financial crisis. While his scenario or something close to it seems more possible than ever, it is just that. A possibility, not an inevitability.
Game changing technology could help the US grow out of some of the problems, you just never know. But it does seem to get exponentially worse so I'm betting on another 08 style crisis in the next few years.
pureblood life long stacker here, metals are going ballistic this year🇺🇲🇺🇲👍👍
I don't want to get rich off of my stacking habit... I just want my due purchasing power back when the poo finally hits the fan.
I was looking at the CPI vs FFER chart on Twitter and although I’m a newbie I immediately noticed every single time since 1960 if cpi was over 5%, FFER would have to be the same or above the CPI to combat inflation. some were saying how the supply chain issue gets better that’s going to help inflation but I don’t buy it and it’s not possible for the fed to raise it above CPI due to the debt. So my question is, is it even possible for the fed to raise interest rates higher or the same or higher than CPI?
Now Should Be The Best Time To Buy And Trade On Bitcoin Because Currently The Profits Are Good And Up To A Standard Rate
got 80% of my total portfolio in crypto and it has be great returns.
That won't bother you if you trade with a professional like Expert Adam's Johnson!
I heard his strategies are really good
He's obviously the best i invested 2000USD with him and I made a profit of 9101USD
His stories are everywhere 😱
I suspect Mr. Schiff will honor us with a longer video later today🙏
Thank you
I admire his stamina in shilling gold.
Must be exhausting.
How is promoting responsible saving practices “shilling?” Gold is a safe haven for wealth, not a get rich scheme.
Yet you’ve commented on this video within 30 seconds of it being uploaded so why do you keep subscribing just to say this rubbish
His firm has plenty of investments available including, precious metals, energy and emerging markets. Get your BTC cult head out of your ass.
No one shills harder or more often than than crypto hodlers
Easy tigers.
Great explanation you made it easy to understand! I like the way you explained opportunity cost. I just wish you would also understand Bitcoin and not just worry that it's competition for gold. I own both. That is probably the best advice. Lyn Alden would agree.
I'm bullish on gold bc everyone in the mainstream laughs at gold
I'm bullish on silver because gold zealots have ignored it
You're both right. Be fearless when others are fearful.
I’m investing in physical silver bars now. I think the gold to silver ratio is high at the moment, but I’m focusing more on silver than gold.
People right now are not interested in maintaining wealth by purchasing gold.
People are interested in BUILDING WEALTH by gambling on stocks, cryptocurrencies, etc.
I invest in Real Estate and stocks. I own homes in NYC and I’ve seen nothing but appreciation since 2008 - even with the economic recessions.
I can rent either of my houses to students in college, senior citizens, etc.
I can even rent to AIR BnB.
A paid off mortgage offers dividends like no other stock or crypto can.
Well said sir!
You think you wouldn’t of earned more investing in crypto?? You’re mad if you think not! Look at the last 4 years of bitcoin and ethereum
@@rattler9uk
I never would risk my money in those fuckin scams
@@rattler9uk too risky. Everyone should have a little crypto but no one should have a lot of crypto.
@@PassportBrosBusinessClass ha ha ha yes massive scams! You keep your gold whilst I’m earning 450% apr on my holdings the last 4 years 👍👍😂😂😂
Thank you sir
Best rest up Peter, stay fit 💪 because Once the markets realize they’ve been fed methadone instead of heroin , they’ll be FLOCKING to buy GOLD, so they can buy real heroin. Many are called, but few are chosen 😉
I'd like to know what will happen to Gold when the market crashes? Does it follow as they say or it will surprise us?
I just want Gold to keep up with inflation. It lost 5% last year, wtf gold.
In January 1982, gold was worth $376.11 per troy ounce.
This is equivalent to $1,042.20 in 2021 dollars.
Gold is a long haul investment … for when the SHTF. When the dollar is being used for fire starters and toilet paper, it will be worth having.
Don’t worry. Gold will go up the 14 millionth time Peter says it will
Peter,
You did an interview with Kevin Paffrath on meetKevin show. Kevin is actually very open minded, but he has admitted that at the end of the day he is a Keynesian. It would be really neat if you two could trade blows and do a friendly debate in defense of Austrian economics vs Keynesian economics. You could defend Austrian and Kevin could defend Keynesian. You’d get millions of views
You know what Robert Maynard Keynes said to Milton Freedman when asked about the inevitable destruction of the dollar from money printing? He said: "Who cares? We'll all be dead!" Yeah these are the people running our monetary system. Keynes was a self admitted statistician, *not* an economist.
Doesn't matter what the reason is. Peter missed the boat on crypto and the Nasdaq because of his inability to admit mistakes.
He doesn't promote scams. You should stick to Keiser report if you admire pump and dumps.
@@cainejackson8003 Keiser is a hideous choad. No thank you.
Happy New Year, Peter. Thanks for your awesome podcasts.
Thanks Peter, I am actually buying more now than ever
Even Brent Johnson admitted that while gold does badly at 0-2% inflation, it does very well at 5% and above. I think he meant the difference between official inflation and fed rate, which cannot be lowered anywhere near 5% (i.e. raising rate to 2%), without repo markets going haywire like in 2019.
@♜♜ ᏢᎬᎢᎬᎡ ᏚCᎻᏆFF.. I messaged you, why haven't you responded?
The S&P500 outperforms gold in both low and high inflation.
@@james3876 It's a scam James.
Can people prefer the FAANG over gold (miners)?
Great explanation!! Thank you
What is the Scorecard on Urban Created and Rural Created Boom and Bust....
I came across PS a few years ago on Joe Rogan. Interesting that nothing has really changed. Yes we are seeing inflation this year but no economic collapse or crash. Thoughts?
As Mark Twain famously said. How did you go bankrupt. We’ll, slowly at first then all of a sudden. Would you rather be a year early (or 20 years in my case) or a day late?
@@leonidas953 Haha Mark Twain? Surely you mean Earnest Hemmingway in "The Sun Also Rises" from the character Mike.
You say “ then Gold is going to go ballistic”
You will be wrong again.
This past year Gold isn’t even keeping up with the worst inflation in 40 years.
I know I know just wait..it’s being artificially suppressed.
I Love physical gold too. It’s amazing to hold
Just isn’t hedging this year and you can’t deny that fact
Been buying the heck out of silver with ethereum and bitcoin profits
Simple explanation for everybody. Thanks Peter.
Everyone should learn this. Good job and thank you!
⬆️⬆️⬆️SCAM⬇️⬇️⬇️
spot on