Schiff, Holmes, Hug and Sebag on the Ultimate Gold Panel (Video)
Peter Schiff recently participated in the Ultimate Gold Panel at the Vancouver Resource Investment Conference.
Hosted by Daniela Cambone of Kitco News, the panel delved into a deep discussion about the future of gold based on both historical analysis and current economic trends.
Peter is joined on stage by Frank Holmes, Peter Hug, and Roy Sebag. This is a must-see for any investor serious about profiting from gold.
HIGHLIGHTS FROM THE DISCUSSION
Frank Holmes: “It’s the great unwind. This QE unwinding is so disruptive to the stock market and you could see that when QE3 came in and you could see gold was not moving with this debt creation, and now it is. And we also have the trade wars and concern that rates are peaking and they’re going to fall; the dollar will fall dramatically and like in a blink of an eye gold will be $1,500, $1,600.”
Peter Hug: “What people fail to see is that if you looked at gold in 2009 and compared it January of 2009 in Canadian dollar terms in January 2019 in Canadian dollar terms, you would have received a 7% annualized return every year, in gold, but nobody looks at that. So, that’s not a bad investment.”
Roy Sebag: “I come from the school of thought that gold is money, which means there is only one kind of money, the money that’s endowed by nature, and that’s gold. And if you were to say look at the price of gold in dollars, in US dollars, considering that interest rates have risen a lot, far beyond what I thought they could considering all the debt that has been issued, you know, gold’s very high. Like $1,300 USD for a two-and-a-half percent for a US dollar rate is something I didn’t think would happen. I would have thought gold would have declined to $1,100.”
Peter Schiff: “I don’t think this is a new gold bull market. I think the real secular bull market began at the beginning of the millennium. Remember, we started the millennium when gold was under $300. So, the real secular bear market went from 1980 to 2000, when gold went from $800 down to 250, 260, whatever the bottom was. But we had a very good run where gold went up to close to $1,900 and people always want to compare where we are now to where we were then and think, well, gold’s going down. No. It’s not. I mean, gold’s gone up over the last 19 years from under 300 to almost 1300. And when gold first started to go down, that is when the Fed first started to hike rates. And it bottomed out at 1050 in December of 2015.”
Peter Schiff: “The tightening cycle is over and gold went up. And now, we’re going to have the next easing cycle, and if gold went up to 1900 during the last one, imagine where it’s going to go next time around.”
Roy Sebag: “Things rot and evaporate and tarnish, but then there’s this thing that for whatever reason, called gold, is the rarest and lasts forever, and that’s what money is. Money is the baseline for all economic cooperation.”
Peter Schiff: “Stocks could fall a lot more than gold. I mean, stocks could go to zero. A company could go bankrupt. Gold is always going to have value.”
Peter Schiff: “With the amount of debt that the world has, they have to keep the interest rates so low to sustain it that almost every major currency, you have negative real yields … Even in the US, all of our yields are negative when you take into account inflation, and so when you have gold versus negative yielding paper, gold actually has a higher yield than all of the debt instruments denominated in fiat currencies.”
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