Contact us
CALL US NOW 1-888-GOLD-160

Peter Schiff: Now Is a Great Time to Get Into Gold

  by    0   0

Markets have been yo-yoing and analysts have been debating what it all means. Peter Schiff appeared on RT Boom Bust on Aug 19 to talk about what’s going on in the global economy and more specifically in the gold market. Peter said now is an ideal time to get into gold.

Peter started out the interview asserting that all of these interest rates that we’re seeing from central banks around the world aren’t going to help the economic situation.

The problem in the global economy is not that interest rates are too high. It’s that the amount of debt is too high. And the reason there is so much debt is because central banks have already kept interest rates too low. And lowering them even more doesn’t solve the problem. It actually makes the problem bigger because it encourages even more debt. So, this is counter-productive.”

Peter said he thinks the US economy is in the worst shape.

I think we are on the verge of finishing the Great Recession that we started in 2008, only the problems are much larger today than they were then, and I think the back half of this recession is going to be far more severe than the front half.”

Bubba Horwitz also appeared on the segment with Peter. He said global economies are in “dire straits” and also expressed concern about the rush to the basement in interest rates, along with the massive amount of global debt. He said he thinks the US is in the early stages of a recession and he anticipates a big stock market sell-off in the near future.

I would not be surprised to see a 25 to 40 percent haircut in equities, because right now, the Fed continues to kick the can down the road instead of addressing the real problems and letting your free markets trade and letting the interest rate markets trade where they’re supposed to, because if they wanted a free market, interest rates would be naturally higher.”

Christi Ai noted that the rally in gold seems to be taking a pause as investors take a more “risk-on” mindset to capture the stimulus boost. She asked Peter how he was handling this rotation.

I’m not rotating out of gold. In fact, people should be buying more gold on this dip. I think anything below $1,500 now is a good entry point to buy into gold. Especially when people realize, or traders, that the only reason that we’ve saved the market from collapse is because the central banks have capitulated, particularly the Fed. We are now cutting interest rates; we’re headed back to zero. They have ended quantitative tightening. The next move is back to quantitative easing. This is all designed to help the stock market, but it’s going to help gold even more than the stock market. Because all the money that they have to print to prop up these stock bubbles is going to be better for gold than it is for stocks. And of course, the stocks that will benefit the most are gold stocks. So, if you want to buy stocks, and you’re a speculator, that’s where you should be looking.”

Bubba agreed with Peter, saying $1,500 is a great level to get into gold. He also said that the rising level of debt will eventually catch up with the American consumer.

Americans are typically a ‘by the month’ society. So, as long as they have a job and they can afford to pay for it by the month, they’re going to keep buying. Well, who’s going to pay for all this debt when we have some slowdown, which we’re already starting to see?”


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

Peter Schiff: The Next Crash Could Bring Down the Fiat Money System

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 […]


Peter Schiff: The Only Winners Will Be the People Who Bought Gold and Silver

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 […]


Peter Schiff: We’ve Accelerated the Process of the Dollar’s Demise

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 […]


Peter Schiff: Trade Deals Won’t Fix the Economy

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 […]


Peter Schiff: Gold Is Not Going to Stop This Time

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 […]


Comments are closed.

Call Now