Peter Schiff: 2020 Will Be An Explosive Year for Gold !!

Gold soared above the $1,550 mark in the aftermath of the US airstrike that killed an eminent Iranian general and has hit levels not seen since 2010. Yesterday morning, gold traded above $1,580. Peter Schiff explains why gold and oil will continue their trend upwards bolstered by tensions with Iran. And why 2020 is going to be an explosive year for gold and silver. Silver, more so than gold, is seeing a major decline in exploration and new mine creation. At the current prices, a pure silver mining operation cannot make money. Silver produced as a bi-metal to copper, zinc, or lead is profitable since the primary metals pay the freight. When we go Weimar, owning Precious Metals is a good idea, but also holding almost any sort of assets is not bad, either. Stockholders were reasonably well protected, but bondholders bit the dust as did all other creditors. Gold is money. It always was, and it always will be. The market has been rising for all of the wrong reasons. The Wheels are falling off the economy; Epstein's story got rejected the moment it came out. We knew this was coming. So the sheep were due for a distraction with war. Welcome to The Atlantis Report. In 2019, gold had its best year since 2010. Peter Schiff appeared on the RT December 31st and said that he believes gold price should have risen even more. And given the current economic conditions, he believes 2020 will be an explosive year for gold. You know, the reason the Stock market went up this year is that the Fed surprised everybody by doing exactly what I had been predicting they would do. They aborted their feigned attempt to normalize their interest rates and shrink their balance sheet. They went back to rate cuts and quantitative easing. This is extremely bullish for gold. Peter Schiff explained to RT. Gold should have been up a lot more in 2019, but he believes it will catch up over the next decade. And particularly this year 2020. Gold is going to be one of the best-performing asset classes, if not the best-performing asset class on the planet. Peter noted that gold made major gains in 2019 in spite of a dollar that was rather flat. But the dollar is going to fall through the floor. Which means gold prices are going to go through the roof. Peter said we are about to enter a new decade of stagflation, with low economic growth and increasing inflation. He said it’s going to be even worse than the stagflation we saw in the 1970s. This is going to be more like an inflationary depression. So, this century, depression is going to come a decade early. It’s not going to be the roaring 20s. It’s going to be a decade of inflationary depression in the United States.” As far as the trade deal goes, Peter said gold would go up regardless of what the trade war sideshow produces. No matter what, the dollar is going to go down. That’s bullish not only for gold but for commodities in general, including oil and agricultural products. Peter emphasized that the Federal Reserve is going to eventually take rates back to zero and expand the QE program. He pointed out that the unofficial Quantitive Easing the Fed launched last fall is already growing the Fed’s balance sheet faster than the official QE in the wake of the 2008 crash. But all of this is going to shift into a much higher gear as this new year plays out. As we move into 2020, Peter said economic growth would likely be slow, and inflation will be higher than people believe. The Fed’s not going to do anything about it. So, we’re going to have higher inflation. We’re going to have slower growth. I think we could see a push up in long-term interest rates as the dollar really starts to weaken. And that destroys the appetite for US dollar-denominated debt. So, if you have higher consumer prices and higher interest rates, that’s a negative for the economy. But it’s a positive for gold, because the Fed is going to try to rescue the economy by printing even more money, and all that’s going to do is stoke the inflationary fire. So, I think we’re going to see a big up move, not just in 2020, but probably for the remainder of this decade. You’re going to see the type of move we had in the first decade of this century. Remember, gold did really well from 2001 to 2010 timeframe. So, in the teens, gold really trod water. This is going to be the next leg up, and I think this is going to be an even more explosive decade for gold than the first decade of this century.” Never mind all the naysayers, Peter Schiff is right. I just think he got the timing wrong. But that's ok. It just gives us stackers a little more time. Only the speculators will get hung up on the timing, and by trying to 'play' gold, they will get burned. And more of the metal will leave those weak hands, and end up in someone's 'stack,' so it's all good. I just keep adding to the pile, month after month, year after year: no big dramatic moves, just a slow, steady accumulation. You'd be surprised at how fast that adds up, after a few weeks of tossing finds onto the pile, you finally stop and take a good look, and go, "Damn! That escalated quickly!". Besides, I think at this point, I've bypassed the whole investment/ profit paradigm, and have reached the point where I just want the god damned METAL, and I don't give a crap WHAT it does or doesn't 'do.' It's mindless, and I WANT more of it! I want to collect it, I want to hoard it, I want to dump it all out onto the floor and roll around in it. I want to drape it all over myself and prance around my house like a gypsy fortune-teller, rings on every finger (and toe) arms wrapped in golden bangles, chains hanging off my neck like Mr. T...those chains are my 'tulips,' those rings are my 'Beanie Babies,' those bangles are my 'overpriced house in the suburbs'...It might not make sense to those who just don't value gold at all, and may even seem to be as foolish as putting one's money into small stuffed animals or flowers, but I'm comfortable with it and don't really fear my gold becoming as worthless as I believe many assets will become. In fact, in most of my imagined scenarios, my gold is more of an insurance policy for my spending power as opposed to a potential windfall. I see myself as liquidating small amounts as needed for the currency du jour, and thus being able to provide for basic needs regardless of what they are doing to the money or the economy. Some may imagine being able to 'buy up' assets for pennies on the dollar with their gold, but I don't think we will see such a simple scenario in any future crisis. That aspect of Weimar will NOT be allowed to repeat itself, I am sure. The Power That Be will see to that, and laws will be passed, no doubt, that makes it impossible for most folks to make such a killing. I think the power of gold will be in using it quietly alongside the failing fiat as a way to maintain some quality of life during this period of upheaval. Many will be one paycheck from disaster, but those who have stashed some gold away will always be able to access some funds in a pinch, and small sales in such a scenario would not attract much attention from authorities, who will have a lot on their plate to deal with, and aren't likely to mobilize over someone trying to sell a bracelet or a couple of rings. But I wouldn't want to show up with a large collection of slabbed coins, or bars, expecting to walk out with enough cash to buy up your own hometown. When Nixon took us off the gold standard in 1971, gold was officially at $ 35.00 an ounce. At the approximate current price of gold at $ 1,550.00, this would mean a compounded rate of approximately 8.1% for 48 years and five months. Based on $ 1,550.00, the dollar has lost 97.7% of its value against gold. If gold went to $ 2,000.00, the compounded rate would be almost 8.71% and a loss of 98.3% for the dollar. When Nixon took us off the gold standard in 1971, silver was officially at $ 1.59 an ounce. At the approximate current price of silver at $18.00, this would mean an approximate compounded rate of 5.14% for 48 years and five months. Based on $18.00, the dollar has lost approximately 91.2 % of its value against silver. If silver went to $24.00, the compounded rate would be almost 5.8% and a loss of 93.4% for the dollar. Also, silver serves two roles, one monetary and the other industrial. The Precious Metals qualify for capital gains if you should desire paper. Gold and silver have no counter liability. All paper does. "Fiat currency always eventually returns to its intrinsic value, which is zero. Buy gold stocks or physical that you can take possession of. Avoid ETFs. And if you do not believe me. Hang on to your real estate, stocks, and 401K's. Keep all your money in the banks. It worked for the people in Greece and Venezuela! The hundreds of billions in overnight repo rates... no big deal! Orange Jesus is a financial genius with a long history of financial success! 80% of all Americans have less than 1000 dollars saved. The next black swan won't affect them, and Iran is just a bunch of hillbillies! SLEEP. I get it that people get tired of the economic destruction, but you cannot argue that the system of fiat money is badly broken, and central banks are net buyers of gold. Does anyone really think the current system can last much longer? Who knows what is coming but no reserve currency has long historical staying power, and the dollar is clearly on a melt-up/short squeeze. The US is doing the best parody of ancient Rome ever seen with bread and circus and a bloated over the extended military. All of this points to a breakdown of the current system of money and eventual inflation of hard assets when money creation ensues. This is not a Fibonacci sequence; it is just history repeating itself. If you do not have metals and other hard assets as a decent part of your portfolio, then you are in deep denial of what is going on around us. If you are hoping to time the market perfectly on this, best of luck. I am sitting on the sideline with risk assets. If there is a strong argument against this world view, I want to read it. Central Banks are buying gold like there's no tomorrow because they know it's money, and all fiat currencies are going to collapse, not just the dollar. The comparison of modern-day America and Ancient Rome is on the mark here. Unsustainable debt and military bases all over the world, and we will suffer the same fate as Ancient Rome. This Was The Atlantis Report. Please Like. Share. And Subscribe. Thank You.












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