Tom welcomes Peter Schiff, CEO of Euro Pacific Asset Management and Chairman of Schiff Gold to discusses recent dramatic moves in the metals market, particularly the pullbacks in silver and gold. Schiff emphasizes that despite these declines, both metals have made significant progress, with silver still 50% above its previous highs and gold having its best January ever. He attributes the sell-off to a coordinated effort by the Trump administration to dampen the metals’ warning signals of an impending dollar and sovereign debt crisis. Schiff suggests that the nomination of Jerome Powell as Fed Chair was a strategic move to maintain the appearance of Fed independence while continuing to pursue inflationary policies.
Peter also discusses the role of banks with large short positions in metals, noting that their troubles have been temporarily alleviated but not resolved. He expresses skepticism about Bitcoin, viewing it as a bubble that has benefitted from gold’s stagnation and political support, particularly from the Trump administration. He predicts that Bitcoin’s price would be much lower without significant investments, notably from Michael Saylor’s MicroStrategy.
Schiff also shares his observations from El Salvador, where Bitcoin adoption is not as widespread as often portrayed. He discusses the influence of the Fed Chair, comparing the roles of Greenspan and Powell, and highlights the importance of gold as an economic indicator.
Schiff warns of an impending economic crisis characterized by high inflation, empty shelves, and significant unemployment, potentially worse than the Great Depression. He advises that the current sell-off in metals presents a buying opportunity for those understanding the fundamentals and the potential for further price increases. Schiff concludes that the next leg of the metals market could bring more mainstream investors into the space.
Timestamps:
00:00:00 – Introduction
00:00:45 – Recent Metals Pullback Concerns
00:04:26 – Orchestrated Sell-Off by Administration
00:05:24 – Banks Short Positions Impact
00:06:37 – Bitcoin Bubble and Correlation
00:12:42 – El Salvador Bitcoin Experience
00:13:36 – Fed Chair Influence Dynamics
00:15:15 – Gold’s Role in Fed Policy
00:18:05 – Key Economic Warning Indicators
00:19:37 – Bond Market Confidence Signals
00:21:28 – Impending Economic Crisis Outlook
00:23:43 – Hyperinflation and Commodity Pressures
00:25:06 – Undervalued Mining Stocks Opportunity
00:26:28 – Metals Buying Opportunity Analysis
00:29:31 – Concluding Thoughts
Guest Links:
Podcast: https://schiffradio.com
Website: https://schiffgold.com
Website: https://europac.com
X: https://x.com/peterschiff
YouTube: https://youtube.com/@peterschiff
Peter Schiff is an honorary chairman of SchiffGold, founder of Euro Pacific Asset Management, and host of The Peter Schiff Show. Peter is an economic forecaster and investment advisor influenced by the free-market Austrian School of economics. He is one of the few forecasters who accurately and publicly predicted the 2007 housing market collapse and subsequent 2008 financial crisis. His latest best-selling book, The Real Crash: America’s Coming Bankruptcy – How to Save Yourself and Your Country, warns that the 2008 crisis was just the prelude to a larger sovereign debt crisis in the United States that may lead to a collapse of the US dollar. Peter recommends long-term investment in foreign markets with sound fiscal policies, as well as global commodities including buying gold, silver and other physical precious metals.
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