Sign up today to be the first to receive our exclusive Uranium report and our 3 top picks for 2019 and beyond
Click Here to Sign Up for Our Uranium Report

Peter Schiff: Beanie Babies, Bitcoins, and What’s next?

Peter discusses the debt ceiling saying, “We blew through 20 trillion in national debt. The debt is not good for the dollar especially with the Treasury Secretary threatening Korea and China. China is our biggest creditor, and many countries are questioning the dollar arrangement.”

The dollar has been weak this year which is a significant factor in why gold is rising. There isn’t a lot of conviction at the moment. People were thinking things are going to get better, but they are wrong. We will need $1400 to get things into a new gear.

Mr. Schiff thinks the inflation rates will begin to climb upwards of 3 or 4 percent. When inflation was at two percent, they were concerned. They have created a problem, and eventually, they will have to raise rates.

Gold stocks are moving just not as rapidly as one would expect. They are performing considerably better than the general market. When gold breaks out they will need to recover lost ground so there will be spectacular moves.

Peter feels cryptocurrencies aren’t any better than government-backed currencies. He feels Bitcoin itself has no real value. It’s only based on faith as opposed to commodity-based currency systems.

Bitcoin doesn’t have the characteristics of a commodity. It simply has the “faith” that others will accept it in the future just like the dollar. The dollar, unlike Bitcoin, has been around for a long time and everything is denominated and understood in dollars. He feels people should be buying gold as a safe hedge.

Talking points from this week’s interview
• Those long the dollar are having a bad year and gold shorts are next.
• US Stock markets may be held up by a falling dollar since they are priced in USD.
• Gold will keep going up and if the cryptocurrency bubble pops it may be good for gold.
• He discusses Goldmoney and why we will have a future gold standard.

Peter Schiff is one of the few non-biased investment advisors to have correctly called the current bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on the U.S. stock market, economy, real estate, the mortgage meltdown, credit crunch, subprime debacle, commodities, gold and the dollar, he is becoming increasingly more renowned. He has been quoted in many of the nation’s leading newspapers. He is the author of the best-selling book, “Crash Proof: How to Profit from the Coming Economic Collapse”.

Mr. Schiff began his investment career as a financial consultant with Shearson Lehman Brothers, after having earned a degree in finance and accounting from U.C. Berkeley in 1987. A financial professional for over twenty years he joined Euro Pacific in 1996 and has served as its President since January 2000. He is also Chairman of SchiffGold a precious metals dealer based out of Manhattan. An expert on money, economic theory, and international investing, Peter is a highly recommended broker by many leading financial newsletters and investment advisory services.

Sign Up For Our 2019 Uranium Report
Sign Up For Our Newsletter