Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Peter Schiff: The 20’s Will Be An Explosive Decade for Gold

  by    0   0

In 2019, gold had its best year since 2010. Peter Schiff appeared on the RT Dec. 31 and said he thinks the yellow metal should have done even better. And given the current economic conditions, he believes the 20’s will be an explosive decade for gold.

You know, the reason the US stock market went up this year is because the Fed surprised everybody by doing exactly what I had been predicting they would do. They aborted their feigned attempt to normalize their interest rates and shrink their balance sheet. They went back to rate cuts and quantitative easing. This is extremely bullish for gold.”

Peter emphasized that gold should have been up a lot more in 2019, but he thinks it will catch up over the next several years — probably next year in particular.

Gold is going to be one of the best-performing assets classes, if not the best-performing asset class on the planet.”

Peter noted that gold made significant gains in 2019 despite a dollar that was relatively flat.

But the dollar is going to fall through the floor. That means gold prices are going to go through the roof.”

Peter said we are about to enter a new decade of stagflation  – low economic growth and increasing inflation. He said it’s going to be even worse than the stagflation we saw in the 1970s.

This is going to be more like an inflationary depression. So, this century, the depression is going to come a decade early. It’s not going to be the roaring 20s. It’s going to be a decade of inflationary depression in the United States.”

As far as the trade deal goes, Peter said gold will go up no matter what the trade war sideshow yields. Regardless, the dollar is going to go down. That’s bullish not only for gold, but for commodities in general, including oil and agricultural products.

Peter emphasized that the Federal Reserve is going to ultimately take rates back to zero and increase the pace of quantitative easing. He pointed out that the unofficial QE the Fed launched last fall is already growing the Fed’s balance sheet faster than the official QE in the wake of the 2008 crash.

But all of this is going to shift into a much higher gear as this new decade plays out.”

As we move into 2020, Peter said economic growth will likely be slow and inflation will be higher than people believe.

The Fed’s not going to do anything about it. So, we’re going to have higher inflation. We’re going to have slower growth. I think we could see a push up in long-term interest rates as the dollar really starts to weaken. And that destroys the appetite for US dollar-denominated debt. So, if you have higher consumer prices and higher interest rates, that’s a negative for the economy. But it’s a positive for gold, because the Fed is going to try to rescue the economy by printing even more money, and all that’s going to do is stoke the inflationary fire. So, I think we’re going to see a big up move, not just in 2020, but probably for the remainder of this decade. You’re going to see the type of move we had in the first decade of this century. Remember, gold did really well from 2001 to 2010 timeframe. So, in the teens, gold really treaded water. This is going to be the next leg up and I think this is going to be an even more explosive decade for gold than the first decade of this century.”

WhyBuyGoldNowBanner.070815.590

Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

Related Posts

Why Are US Treasury Bond Sales Are About to Spike?

The federal government has already run a $2.06 trillion budget deficit in fiscal 2021 with four months left to go. But somewhat surprisingly, over the last few months, the national debt hasn’t increased at nearly the pace you would expect considering the budget shortfalls. Given the level of spending, borrowing should be much higher. How has […]

READ MORE →

Thomas Jefferson vs. the Federal Reserve

The Federal Reserve is the engine that drives one of the biggest, most powerful governments in the history of the world. Without the Fed, it would be difficult, if not impossible, for the government to fund its foreign wars, its massive, unsustainable social programs, the ever-growing police state, and the tangled web of corporate welfare […]

READ MORE →

Chipotle Menu Price Hike Spotlights Inflation Problem

Government programs, political campaigns and wishful thinking can’t trump economics. In the end, economics always wins. Chipotle’s recently announced menu price hikes bear this out.

READ MORE →

Inflation Crashes the Party

It’s dawning on many investors that our post-Covid financial problems may not be as easily solved as Washington claims. The latest clue that trouble is brewing has come from the sudden and dramatic arrival of inflation. On May 12, it was revealed that the Consumer Price Index (CPI) had risen 4.2% year-over-year, the fastest pace […]

READ MORE →

Janet Yellen’s Flip-Flop and What She’s Really Telling Us

Treasury Secretary Janet Yellen sent markets into a tizzy on Tuesday when she said interest rates may have to rise to keep the economy from overheating with all the government stimulus. But later in the day, she walked those comments back, claiming inflation isn’t going to be a problem and insisting that she wasn’t suggesting […]

READ MORE →

Comments are closed.

Call Now