Peter Schiff: Gold, Inflation and the Banking Crisis: The Outlook for 2024
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- Опубліковано 1 сер 2024
- Today’s guest is Peter Schiff, an American stockbroker, financial commentator and radio personality. He is the CEO and chief global strategist of Euro Pacific Capital Inc. This is a conversation that I was originally a part of this year’s Expat Money Summit, and I wanted to share it with you today to give you a taste of the sort of exclusive content I bring to the Summit every year.
Peter Schiff is someone who I have followed for years, and I think he brought tremendous value to the Summit with this conversation. Enjoy!
TODAY'S CONVERSATION WITH PETER SCHIFF
Listen to Peter’s take on the most recent trends in the price of gold and how it’s affected by inflation and government deficit spending.
Hear Peter’s early 2024 election predictions and what it will mean for the U.S. and global economy.
Find out why Peter fears what I have been saying all along - that when the crisis hits, the government will make it very difficult for Americans to escape. This is why I always emphasize acting now!
Listen to Peter detail why failing prices, aka deflation, can lead to companies making more money, contrary to the popular opinion of many ‘mainstream’ economists.
If you think the headlines showing 20% inflation looks bad, wait until you hear Peter’s breakdown of what sort of inflation we’ve really experienced in the last few years.
Find out why Peter believes the banks are currently in worse shape than they were during the 2008 crisis.
Will the Federal Reserve continue to attempt to fight inflation or just let the banks fail? Hear Peter break down this no-win situation.
Hear Peter’s thoughts on why he didn’t get any mention in the film The Big Short for predicting the 2008 crisis. I had never heard him talk about this before!
Find out Peter's thoughts on some important topics like CBDCs, and a potential gold-backed BRICS currency.
Lastly, you won't want to miss Peter's predictions on what's to come in 2024 - and how you can best prepare.
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Peter Schiff taught me everything I know about Economics. I am a premium member of his UA-cam channel, and I am all I in on his
How easy it is to live with all missed opportunity on BTC ?
@zonnobux3945 Peter Schiff is going down in history as the worst financial advisor ever. Peter has been dead wrong on all his major predictions, year after year, market cycle after market cycle:
1. Worthless dollar
2. Worthless crypto
3. He said it's another housing bubble way back in 2014
4. He said the Fed couldn't hike rates from 0 in 2015 but they hiked to 2.25%
5. He said the Fed couldn't hike rates from 0 again in 2022 but they hiked to 5.25%
6. New high for silver
7. 100x on gold stocks
8. $5,000 gold
9. Dow will equal an ounce of gold
10. Going back to a gold standard is inevitable
11. DXY to 80 by the end of 2023
12. Financial crisis of 2023
Is this spam or a real person?
Love Peter and i tell people who'll listen to tune in to this man
Thank you so much for watching! I truly appreciate it.
Excellent interview 👍
Thank you!
Thank God Peter Schiff without all those stupid ads
Currencies are being diluted and debased all around the world. Buy anything the central banks can't print and you will be good. You don't have to be 100% in gold but rather understand its noble properties: it doesn't decay, it doesn't need to keep consumming energy once it is in your possesion, and great deal of value can be stored in a shoe-sized space that you can safely and securely keep yourself, etc etc.
As Peter said, own stuff and companies that sell goods and services that people need. You still can find good companies in the US that are undervalued and that is where the opportunity is. Happy new year 2024 everybody!
Absolutely, it's always a good idea to diversify your investments and consider assets that can retain value over time!
Awesome and thank you for getting on Peter 😊
@10:38 ironic that UK doesn’t tax citizens abroad while the US currently does, despite the origins of the US (“no taxation without representation!”)
GREAT VIDEO!!!!!!!!
Thanks for watching!
Peter Schiff WAS RIGHT!!!
He sure was!
@@ExpatMoneyShow but these days he sounds like a broken clock... 10 years of warning us every day, he's been deceived by the guys in power who found new tricks to kick the can down the road for so long.
I strongly feel that the us dollar will be eventually almost worthless , but not for the next 5-10 years or so. When another 15-20 million broke Americans retire we will need to print tones of money to pay retirement and healthcare benefits as well as government pensions etc. None of these liabilities are funded, we will become what Argentina is now , no way to avoid it at this stage.
You got that completely right!!! The Greater Depression; That's why I'm happy to have become as Self Sufficient as I possibly can...
Appreciate the comment and thanks for watching!
Very informative and thought provoking video!
Unfortunately; I truly believe that there might be a Catastrophic Financial Market Crash in 2024; due to the Insane Credit Card, Mortgage, and Auto Loans Debt!
The Overall Debt is in the Trillions!
Thanks for watching!
I am all in on Schiff' 5 euro Pacific mutual funds, and GLDM.
Mr. schiff, I wish you would issue a brief reaction every trading day, just to remind me to buy low!
I like my two funds. Emerging Gold, wish I had more and perhaps in the future The may invest!
I keep eyeballing.
President Peter Schiff.... IF not now, Wheeen?
I like to run something by you guys if you're a Bitcoin fan say there's something called virtual real estate and the only way you would make money on it as if somebody wanted to buy something like you that did not exist and pay a higher price for it that's exactly what Bitcoin is
@garybacher236 What you are describing is the greater fool theory. It only applies to investments that have no benefits like gold and silver coins. Nobody really wants silly gold and silver coins. What they really want is more dollars. And nobody will melt the coins down for jewelry or whatever because the gold miners dump plenty of gold on the market to satisfy the demand.
Bitcoin has many revolutionary benefits.
1. Buy millions of products online
2. Use bitcoin as collateral
3. Censorship resistant
4. Be your own bank
5. Borderless
6. No downtime
7. Tip on X
8. Unseizable
9. Incorruptible
10. Unchangable stock to flow
11. 21 million coin cap
12. Decentralized
13. Tiny fees with the lightning network
14. Peer to peer
15. Halvings
16. Fast transactions with the lightning network
17. Easily verifiable
18. Easily portable
19. Irreversible
20. Can't be printed
21. Inflation hedge
22. Impossible to counterfeit
23. Rules without rulers
24. Most secure form of money with cold storage
25. Hacker proof with cold storage
26. Identity theft proof with cold storage
Plus, bitcoin is not like gold that constantly needs new investors to prop up the price. Thanks to bitcoin's halvings the price will go up even if the demand stays the same.
The Bank Term Funding program Peter mentions that comes due in March is about $130 Billion or so and yes it seems to be growing monthly. But, I do not see this as such a big deal. The deficit is more, much more than that EVERY MONTH. The Fed can handle that with ease. Yes, it will be inflationary, and yes, even more currency debasement, but there seems to be no limit to this until the market calls the US Government out on it and the market does not seem to want to do this. No, I do not like it and think it stinks but this is reality. Buy physical things and put some of your assets outside of fiat currency.
Hi on
Appreciate the comment and thanks for watching!
I live in a nice home in a nice area for 20k per year. and I CAN live on 5k per year. I know this, cause I've done it. and not long ago, either. For 3 years, I lived in an old van, ate free at churches and the SA mission, via food stamps, staples at the food bank, sold my plasma for $80 per week, did odd jobs from Craig's list. I clear 60k per year. Everyone cant do what I do, but anyone can, (up to 10% of the population) 40% of the population needs to be living in a van.
Thanks for your comment!
#Gold & #Silver to the 🌕 baby Sound Money > Fiat currency
Janet Yellen, the same person who is now the Treasury secretary, the same person who a couple years ago said we would never have another financial crisis in our lifetimes ….☹️
timestamp!!!
He still talks about 2008. Why? Because he cannot point to any calls he has made since then he has gotten right. The reality is if you bought the top of the S&P in 2008 you have done far better than any of investment funds since then.
He predicted the 08 crash nd warned about the tech bubble lol dudes been on point his whole career df u talkin about
When will Bitcoins hit zero Peter?
After they're all mined. Once they are all in circulation, sometime in the next couple of years, the individuals who have them will took at each other and say what now, "oh let's sell" at that point nobody will want them because the price isn't climbing. Remember, the price keeps climbing because it costs more and more to mine each one, at least until there's no more to mine.
When the blockchain algorithm is hacked
@@chuckdawithahaha price is climbing cuz of cost xD nice :) keep poor buddy :*
@@chuckdawit Next couple years? What in the holy hell are you talking about? Do you just pull information right out of your ass? Bitcoin mining will continue until about the year 2140. By then fiat will not even exist because everybody will be using bitcoin.
People will look back at 2023 and laugh at our financial system.
They'll laugh at everyone that could have used bitcoin as money but they chose to use something else.
They'll laugh at one transaction taking 3-5 business days.
They'll laugh at the enormous fees we pay banks and credit card companies.
They'll laugh at us entering our credit card numbers and security codes every time we want to make a payment.
They'll laugh at how one small group of people decide interest rates.
They'll laugh at the enormous amount of currency being created out of thin air.
They'll laugh at banks failing and people still leaving all their money in banks.
They'll laugh at gold bugs trusting a company to hold all their gold and paying them fees for a gold backed currency.
@jejudo3000 When people no longer want the only form of incorruptible money.
This is an old interview
Indeed, as said, its from the Summit in October
And so ends another year of shilling gold. I have so much gold. Gold shoes, gold pants, gold car, gold house. I eat gold cornflakes for breakfast. Where's this crash exactly?
32:50 Peter complains about his own legit bank getting shut down by the government and in the same interview at 53:46 he says we need a currency backed by gold. HAHAHAHA!!!
We'll make the government pinky promise to leave a gold backed currency bank alone. Or if it's the government running the currency backed by gold we'll make them pinky promise to keep the peg and redeem real gold. That'll work for sure. HAHAHAHA!!!
If Peter wasn't such a salesman he would be honest about bitcoin because it solves the problems of why gold ALWAYS FAILS as money and much more.
bs baffles brains
If you want never ever earn any money on the capital markets - simply follow Peter Schiff. The end is near, presumalbly before tomorrow. Alternatively, follow Harry Dent, "sell all your gold".
Why in the holy hell would you interview Peter Schiff? He's going down in history as the worst financial advisor in ever. Peter has been dead wrong on all his major predictions, year after year, market cycle after market cycle:
1. Worthless dollar
2. Worthless crypto
3. He said it's another housing bubble way back in 2014
4. He said the Fed couldn't hike rates from 0 in 2015 but they hiked to 2.25%
5. He said the Fed couldn't hike rates from 0 again in 2022 but they hiked to 5.25%
6. New high for silver
7. 100x on gold stocks
8. $5,000 gold
9. Dow will equal an ounce of gold
10. Going back to a gold standard is inevitable
11. DXY to 80 by the end of 2023
12. Financial crisis of 2023
I dont want to listen to Peter Schieff spout crisis and the purchase of gold. He's been on this rant for over 10 years at this point. If we had invested into gold like he asked we wouldve gained less than 10% over a 15 year period. Im done
I bought my first gold coin in 2016 for $1350. That same american gold eagle can be sold for $2300.
@alex, I think you mean 10% a year for 10 years straight. Gold 10 years ago was at $1200 USD. Not too shabby...
I bought my first piece of gold at the very start of Jan 2023 at $2,700 AUD, it's now today at $3,018 AUD.
not a bad investment thus far
He does emphasise though that Gold has never been about getting rich, maybe the gold miners but gold itself has never been his get rich quick scheme
@@MrAnderson3and how much inflation ate your spending power in last 3 years? Give me cagr and then talk about your investment brilliance
@bartz4439 no one said Gold was an investment it's money lol.. who said I didn't have investments? Can tell you are a cryptobro
Nice stonks broz
What happens to platinum and why is there such a price imbalance? 📉 🤔 (In the earth's crust, Platinum is approximately 6-7 times less than Gold)
Gold +12 YTD 🌞; Silver +0.1% YTD🙁; Platinum YTD -12% 😡
Platinum had a big head start and it's falling back in line