Peter Schiff: Can’t Trump This Golden Opportunity (Video)
Some have dubbed it the “Trump Bump.”
Since the election of Donald Trump, the stock market has soared. Many Americans believed the new president would turn things around and “make America great again!” Meanwhile, the sale of precious metals has slumped in the US. While sales of gold and silver have soared in places like China and India, Americans have been buying up US stocks.
While everybody is still piling into stocks, Peter believes this opportune time to invest in precious metals. Trump’s election made a lot of people more optimistic about America’s economic future. Gold and silver bullion coin sales at the US Mint have fallen to the lowest level in years, following the general trend in US precious metal markets. But as Peter points out, fundamentally things aren’t any different than they were before the election. The precious metals slump in the US doesn’t really make sense. The fact that the mainstream is looking the other way is good indication that it’s time to get into gold and silver – before it’s too late.
As Peter put it, nothing has changed.
“Yes, having Donald Trump president is better than having Hillary Clinton as president. But he is not a get out of jail free card for the economy…The problem is the damage is going to hit on Donald Trump’s watch. Barack Obama got out of Dodge just in time.”
Obama and the Fed did a great deal of damage to the economy. Trump inherited a mess and he won’t be able to fix it. Will all of the chaos surrounding his administration, it seems increasingly likely he’s going to have a hard time pushing his agenda through. And as Peter points out, even if he does, it’s not going to be enough. Even with a new administration, the fundamentals underlying the economy haven’t changed. The Federal Reserve hasn’t changed. The bubbles still exist.
If you thought QE 1,2, and 3 were bad, wait until you get a load of QE 4. We’re going to have to print a lot more money under President Trump than we printed under President Obama. And we’re still heading for a currency crisis. We’re still heading for a sovereign debt crisis. All of the problems that you believed existed and that caused you to buy gold while Obama was president – all of those problems are bigger now that Donald Trump is president.”
It’s easy to be lulled into complacency with a shift in political tides. But the economic fundamentals didn’t miraculously change on Nov. 8. The election didn’t erase years of bad policy. The damage is still there. As Peter says, there’s nothing wrong with being hopeful, but you still have to anticipate problems. You still need to anticipate the future. You don’t want to be surprised by it – because once the bubble bursts, it’s too late to prepare.
Look, you can hope for the best. Maybe I’m wrong. But you better plan for the worst, and you better buy some gold.”
Get Peter Schiff’s latest gold market analysis click here for a free subscription to his exclusive monthly Gold Videocast.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!