Peter (The world is ending) Schiff wants to sell you some gold.
Posted on 05/27/2021 8:45:21 AM PDT by blam
Peter (The world is ending) Schiff wants to sell you some gold.
Schiff confounds me. He’s been predicting financial armeggedon for 20 years now. We haven’t had it. But on the other hand, I see what he sees, and I tend to agree. Today Biden proposed another budget with $3 Trillion in debt.
It makes my head swim.
” faced strong tailwinds”
should be headwinds.
But all I have to give Peter Schiff for his valuable gold is this here fiat money. Surely Peter Schiff won’t take worthless fiat money for his valuable gold, will he? That would be insane. Nah, he wouldn’t be that stupid.
I’ve been watching gold and silver a lot lately. I noticed it is on a slow, steady incline. I have no doubt that when the inflation hits full speed ahead later this year they will both be a part of it. It’s about to become a solid inflation hedge, which is really all it’s ever been, when you think about it.
But I can see both as doubling or tripling in value in the very near future. It’s not that I think they are going to become so valuable. Rather, I think the money is going to become so worthless.
Now is not the time to sell.
BTW
https://goldprice.org/
https://silverprice.org/
On a side note, it’s kinda comical that silver is at around $27.50 an oz, but one oz Silver eagles are going for over $40 an oz. One of those numbers is fake.
Depends which way your facing. :-)
The real inflation hedge right now is OSB. I just cut up my last sheet for shelving. I paid $7.99 for it about a year ago. I probably should have returned it to lowes without a receipt and gotten a $43 store credit. :)
Hoarding gold, silver and/or other precious metals as a hedge against inflation makes more sense than a lot of other schemes because they are pretty and have underlying usefullness and value. The problem is that using them for this purpose causes values to spike and makes items and industrial processes that use them much more expensive.
Peter reiterated that he thinks the central bankers are wrong to think price inflation won’t become a big problem, just like they were wrong in the days leading up to the 2008 financial crisis when they insisted subprime mortgages weren’t a problem.
For your interest.
There was another guy who is usually very accurate with his predictions, about five years ago discussing his prediction for a crash not coming to pass and his response, in a quick paraphrase, was this:
“I had no idea just how far down the road they could keep kicking the can.”
My take: When it finally DOES happen, it will be epic.
These guys are all correct, they’re just off on their timing. And that is a difficult one to call. It’s only when no human intervention will matter that reality will hit us all, whether we like it or not.
Thanks for the links.
Better than most.
I have a window pane I had to replace after hurricane Katrina (2005) and after hurricane Sally (2020) last year I had to replace the exact same window pane. I went to exactly the same place to buy the glass. After Katrina the glass cost $8.00 and change. After Sally it cost $24.00 and change.
When someone is getting a commission, now is always the time to buy gold...lol
The physical market has seen a consistently rising premium and its a better gauge of the real price of the physical metal.
The paper silver market is constantly shorted by the big banks. What they like to to is short the market when there a rise, then the price drops and then they buy back and the price goes to the previous level.
They make much more money on the sideways fluctuations than if the price shoots up all at once. The idea for these banks is to exploit sideways volatility and suppress the upwards prices so they can keep using their silver over again for shorting.
It's almost like it's rigged.
If you go over to reddit and read some of the posts on their silver boards, you'd get an indication as how gullible some silver buyers are.
One Troy ounce silver rounds with oddball designs from various mints and countries are being bought at $40 on up by some of those posters as investments when they should be buying the lowest premium rounds/coins as a store of value.
The "Great Reset" may, after all, be the return of a gold-backed dollar to restore confidence in the monetary system. It sure as Hell is missing now when foreigners take a look at Biden's $Trillion proposals. The whole world is running on fiat currency and the printing presses are speeding up.
As history has repeatedly told us, it won't end well.
My concern is that last time this sort of thing was ended via world war.
That was me a few years ago. I believe now though, that the Fed's road has led to a cul de sac. I like a recent gold bug statement that 90% of the increase in Precious Metals will come in the last 10% of the collapse. (Reminds me of Retail's 80/20 rule.)
IMO, most of the sheeple will not wake up until it is too late and then stampede in PMs at mind-boggling premiums.
That’s kinda how I’m expecting it to go down as well. On a lot of things.
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