Peter Schiff recently spoke with Stefan Molyneux, host of Freedomain Radio, about the truth behind the gold market correction. Their wide-ranging discussion is an excellent introduction to how the economy reached the quagmire it is in now and how a healthy economy functions. Peter also gives advice on how to avoid and prepare for the real crash that is yet to come.
“Really what’s happened, there’s been a crash in confidence. There’s been a crash in investor expectations when it comes to the price of gold. There actually hasn’t been a crash in the price. I think the sentiment is wrong, that the public is wrong, that the professional investors are wrong. Remember – the guys that are ultra bearish on gold right now are the same guys that were extremely bullish when it was at the highs at 1900. The consensus doesn’t have a very good track record when it comes to gold.”
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I think Schiff is a little confused.He’s calling fiat currency,money.It isn’t money.Gold is money.Fiat Dollars are currency,not money.
Harry Dent says gold could fall to $750 an ounce–what’s your take on that?
Peter, an RV isn’t camping. If you need a name for what you’ll be doing, its called “glamping.”
Thanks for all your insight.
Great show. Peter I agree they are blowing air into a deflating bubble..this is similar to our positions in 2005 and we saw what happened in 2008…but this could be worse. I am curious what your thoughts are on gold bullion and the new crypto currencies? How does all of this parallel to the digital economy?