Warning!! Manipulation has to end before metals find true value- Peter Schiff

Warning!! Manipulation has to end before metals find true value- Peter Schiff

uh but I think now silver has broken out and it’s joined gold and will ultimately Eclipse gold as far as the percentage gains not not the price but I think you know percentage wise uh I think that silver could hit $50 an ounce before gold hits 3,000 hey silver fans welcome back to our important video today we’re talking all about silver and the opportunity in gold miners it’s been shining bright lately moving alongside gold but why well we’ve got Peter Schiff with us to spill the beans from talk about the Indian market to other interesting stuff let’s find out what’s driving Silver’s rise get ready for some eye-opening insights I do think it’s going to continue until we have a currency and sovereign debt crisis I butan it shows you how ridiculous it is that so much depends on a few words spoken by by po or you know a couple of changes to a statement or a Dot Plot and all of this determines you know whether we buy or sell I mean the FED should just be Irrelevant in in the background I remember once upon a time nobody even knew who the FED chairman was I mean a lot of people didn’t even know what the Fed was and and now you know there may be more people who know the chairman of the FED that know who the vice president is and uh you know it’s not supposed to be that way uh but it’s become a very political uh um office and everybody looks to the FED to solve problems you know in fact you had all these politicians they they think the FED is there to solve the inequality or you know they don’t like the distribution of wealth uh it’s too highly concentrated or there’s too much unemployment in the African-American community and they ask the FED what are you going to do about it there are people asking the FED what they’re going to do about climate change like what what do they have they have a printing press all they could do is create inflation you know you can’t solve The World’s problems with inflation but temporarily you can make it look like they went away because you know all the numbers go up everybody thinks they’re rich right when you print a bunch of money and everybody thinks that now they’re rich because they’ve got more money but the problem is then prices go way up and you don’t have more purchasing power and and we’re at that stage right now the prices are starting to catch up to the money I mean silver was really bound to a take off it was near what 90 to1 with gold know record lows gold was marching higher uh really from 2000 to 2200 2300 is and silver hadn’t even moved silver was still below 25 and then all of a sudden it spiked up to 30 uh but I think now silver has broken out and it’s joined gold and will ultimately Eclipse gold as far as the percentage gains not not the price but I think you know percentage wise uh I think that silver could hit $50 an ounce before gold hits 3,000 and so that’s a much bigger uh gain for the price of silver than the price of gold uh but again I think the reason was the central banks they weren’t buying silver they were just buying gold they they don’t have room to store silver and also the central banks aren’t investing the mining stocks so you know it’s the retail public and institutions that might have been investing and they were not again they don’t understand it they think that gold or silver should be going down because it’s a soft Landing everything is great buy the Magnificent s and those who are worried well they were buying Bitcoin I think that the the launch of these Bitcoin ETFs really you know provided that smoke screen because when everybody should have been talking about Gold’s they were talking about these Bitcoin ETFs which were the most successful ETFs as far as how much money went into them they’re not going to be successful from the point of view of the people who were dumb enough to buy them it’s going to be a complete failure but Wall Street did you know sucker in a lot of speculators so they’re they’re making money uh for now in these ETFs but I was actually watching during that first month or so were trading like there was one week where gold went sideways and gold stocks are down like 15% and and they it was like well what’s going on and I thought well maybe people are selling off their gold stocks to buy the Bitcoin ETFs because the money had to come from somewhere and in fact all year we’ve had record outflows out of GLD which is the biggest gold ETF at the same time where gold prices are running up to record highs and normally it’s the opposite normally the retailers are chasing a rally they’re not selling into the rally and so what that tells me is that they’ve got it wrong this rally has legs it has a long way to go it’s not going to be until we have huge inflows from the retail public that we’re probably going to get a significant correction probably not even a bare Market at this stage but we could have a five or 10% correction if the public jumps in uh but so far they’re still selling absolutely absolutely in fact um think that these stocks are still incredibly cheap you know gold stocks have been the ironic victim of inflation you would normally think oh high inflation that’s good for gold miners the problem is the investors haven’t really recognized how bad the inflation threat is and they haven’t bit up gold prices enough but the cost of mining has gone up dramatically most gold companies are making less money today mining gold at you know 2400 than they were mining it at 500 um because of the increase in energy costs and labor costs but what nobody seems to notice is that recently now gold prices are outstripping the gains in a lot of other Commodities and the dollar has stayed firm meaning the gold price in terms of other currencies has actually risen faster than it has in dollars and most mining companies their wages are in those other currencies so the margins I think over the last few months have really improved rather remarkably in these gold stocks and so I would be looking for that to be reflected in their earnings that come out and maybe that’ll be a catalyst or a wakeup call to Wall Street to buy these stocks but before they get that wakeup call while they’re still sleeping I would advise your listeners to be moving heavily into this segment recognizing it is a risky segment so you know don’t put money in there that you absolutely can’t afford to lose but if you do have risk Capital this is what risk capital is for because the upside potential I think dwarfs the downside risk I think it’s a unique opportunity to make you know Stellar returns uh and you know you can do it yourself or you can hire me in fact I didn’t even do it myself I hired Adrien day you’ve had him on your program Adrian manages the Europe Pacific gold fund you can buy that no load uh at any discount brokerage firm EPG I believe is the no load symbol it’s the institutional class of the EUR Pacific gold fund I think Adrian has built an incredible portfolio we’ve got some really good juniors in there that I think are going to be you know the the 500 Baggers of this bull market but I I think the seniors are still going to go up 10x uh you know by before this thing is over thank you for tuning in to today’s exploration of the silver market and the golden opportunity in gold miners we hope you found this discussion insightful and informative don’t forget to like share and subscribe for more engaging content on precious medals and Financial Insights if you have any questions or topics you’d like us to cover in future videos feel free to leave them in the comments below until next time happy investing and stay tuned for more exciting updates [Music] [Applause] [Music]

Warning!! Manipulation has to end before metals find true value

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