Gold is the “shining embodiment of wealth.” It is not only used to add “extra bling” to our lives; it is also an important component in expensive high-tech electronics and medical devices. Even more fundamentally, gold is money.
But why is gold so expensive — even more valuable than other rarer metals? A video put together by Business Insider offers some perspective. Simply put, it’s a matter of supply and demand. People want gold and there isn’t very much of it.
“In case the people in this room didn’t know, the financial crisis of 2008, which I had been forecasting for some time, and the Great Recession that ensued, was caused predominantly by the Federal Reserve.”
This was the opening line of Peter Schiff’s talk at the Las Vegas MoneyShow.
The Fed managed to “rescue” the economy after the financial crisis, but in the process, it created an even bigger bubble than the one that popped in ’08. This bubble is about to burst and the Fed will try to repeat the process. The difference is this time it won’t work, as Peter explains.
You have probably heard about the JP Morgan traders indicted in a gold and silver market manipulation scheme. The allegations involve “spoofing.” Traders put in buy and sell orders with the intention of canceling them before execution. By creating false impressions of demand, they could potentially move prices and cash in on their own trades. Meanwhile, JP Morgan has accumulated the most significant physical silver position of all-time.
Peter Schiff recently appeared on RT to explain exactly what’s going on.
Peter Schiff has been saying that the price of gold and silver are going to take off.
Peter isn’t just taking a wild guess or gazing into a mystical crystal ball. He’s basing this prediction on the unavoidable economic consequences stemming from decades of Federal Reserve mechanizations. In s nutshell, the central bank has checked us into a monetary roach motel. Once it entered the current policy there was no way it would ever be able to leave.
In this SchiffGold Videocast, Peter explains exactly what the Fed has done, what it’s doing now, and why no matter what it does next, gold and silver are going much higher!
Peter Schiff appeared on RT Boom Bust on Tuesday (Sept. 17) to talk about interest rates, gold and the dollar. Peter said the fiat currency system may not survive the next recession.
The conversation started focusing on the repo operations conducted by the Federal Reserve early in the week, Peter said the financial media and Wall Street are being much too complacent about what’s going on.
Gold has been on a three-day skid, but as Fox Business anchor Liz Claman put it, “So what? It’s been a breakout summer for bullion.”
Over the last three months, gold is up about 12% and has hit six-and-a-half year highs in recent weeks.
Peter Schiff joined Claman, along with, Frank Holmes and Imaru Cassanova on The Claman Countdown to talk about the yellow metal.
Is the US losing its grip on the world? And could the dollar ultimately be dethroned from its spot as the world’s reserve currency?
We’ve reported extensively on countries working to undermine dollar hegemony and reduce the United States’ ability to weaponize the dollar as a foreign policy tool, along with the global gold rush on the part of central banks. Last week, Peter Schiff appeared on RT, along with former Pentagon official Michael Maloof, to talk about the world’s growing frustration with America. Peter said countries worldwide are ready to dump the US.
One day Trump is on Twitter ratcheting up the trade war with China and the next he is pulling back and saying a deal is close. This back-and-forth has been yo-yoing markets for months. Peter Schiff recently appeared on RT Boom Bust to talk about the trade war. He said he doesn’t think there’s much substance to promises of a big trade war win. And even if the trade war is resolved, it’s not going to fix the fundamental problems underlying the US economy.
Gold has continued to push upward. The latest catalyst was another escalation of the trade war. Gold briefly moved above $1,550 in dollar terms. But it has done even better in relation to other currencies. In fact, the yellow metal is at record highs in nearly every currency except the dollar.
Peter Schiff appeared on RT America on Aug. 26 to talk about it. He said he thinks gold is eventually going to make news highs in the dollar as well, and this time, it’s not going to stop going up.
Trump economic adviser Larry Kudlow said nobody saw the 2008 crash coming. Of course, Peter Schiff did. And he said so more than once on Larry’s own show.