Peter Schiff: Gold Price is Going to Skyrocket - Going to Smell Blood
Financial expert Peter Schiff gives a gold update and says, “The price
of gold is going to skyrocket, and it’s going to go up so much more than
this because we are just getting started. What is really going to
power the rise is not only are we going into a recession in the U.S.,
but it’s going to be an inflationary recession. When the dollar tanks,
because the Fed doesn’t raise rates, then consumer prices are going to
take off, and they’re going to rise so rapidly there is going to be no
way the government is going to be able to hide them. . . . We are going
to start to see inflation rates, annual inflation rates well north of
the Fed’s 2% target level. They are not going to do anything to rein in
inflation because it’s impossible. Gold is going to sense this. It’s
going to smell blood. You’ve got a lot of people who are shorting the
gold market. They are going to get crushed.”
On CNBC and his
guest appearances, Schiff says, “CNBC used to have me on all the time
before the 2008 financial crisis. Even though they thought I was saying
all kinds of things they thought were crazy, they had me on just to be
balanced. No one knew who I was, and I was saying all these outrageous
things, but ever since all the outrageous things came true, they barely
have me on—ever. I make their other guests look like fools. I make the
announcers look like fools, and that’s the problem. . . .
You would
think they would care about their audience, but I think they care more
about their advertisers and their other guests that want to shill Wall
Street products.”
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