Gold To Be Repriced Much Higher! A Conversation With Peter Schiff

Gold To Be Repriced Much Higher! A Conversation With Peter Schiff

you have to hope if you’re waiting to buy cheap gold you have to be betting that the dollar gets more valuable and I just think that’s a slim possibility uh I mean it it may get more valuable relative to the Yen or the Euro uh but not gold hey everyone welcome to bald guy money I am bald guy and I want to start this video off by thanking everyone who watched last week’s gold analysis video video and you can see what we discussed here on the screen now for those of you who requested that I repeat the same analysis for silver I will be doing that in next week’s video so please stay tuned for that but this week I have the pleasure of presenting an in-depth discussion I had with investor economic commentator and precious metals expert Peter Shi and in it we discussed the next move up for the prices of silver and gold we touched on why the Federal Reserve and other central banks around the world aren’t taking inflation seriously enough Peter also gives a great explanation of what the price of gold is telling us and if the United States has a backup plan that includes gold to keep the USA in power over the world’s Reserve currency we also discussed bricks and their role in the precious metals Market as well as mining stocks and if they still have the potential to keep moving up so there is literally something for everyone in this video and a lot to be learned so make sure you watch the entire discussion because even as we were wrapping up Peter was adding some very interesting points to the discussion that he wanted you all to be aware of now just before we get started if you’re in the United States and want to buy gold or silver to protect the value of your hard-earned money please check out channel partner pinex pin.com they have great prices they’re reputable dealers and they have fantastic customer service they can also get you started with a gold and silver Ira just call them at the number on the screen and let them know you came from the bald guy Money Channel and without any further Ado here is my discussion with Peter Schiff welcome Peter uh I don’t really think I need to introduce you to my audience but just in case someone has been uh who has just crawled out from under a rock I am honored to be hosting the one and only Peter Schiff on bald guy money today he is an investor sound money Advocate host of the Peter Schiff Show which I will link up in the video description below and Peter was labeled Dr Doom by the New York Times for his prediction of the 2007 208 crisis Peter how did I do did I is there anything you’d like to add to that intro uh no Roger thanks a lot you know unfortunately I’m not quite bald yet I mean I’m getting there I got a very high hairline so I’m not sure if that qualifies uh to be to be on the podcast um but yeah I mean I a lot of people don’t necessarily know who I am I mean some people do I mean more people do than than than than used to thanks to social media you a lot of people have found out about me because of the podcast that I do or because I spent a lot of time doing other people’s podcasts like the ball guys of podcast so uh been doing that for a number of years you I now finally have more than a million people following me on on X what used to be Twitter um but you know still I think I got a long way to go before I’m a generally a household name I I think I may get there but unfortunately things are going to get a lot worse uh in the economy before that happens H I’m with you right uh on that topic now we’ll get to that in a second I just wanted to start off with a with a question here because we’re in a bit of a consolidation period right now for for gold and silver uh Peter considering everything that’s going on in the world right now I’d love to know what you think the next cataly the The Catalyst for the next big move on medals will be well I think we’ve already broken out as far as gold hit a new all-time high and we took out a lot of the resistance that was overhanging the market just above $2,000 an ounce so we got above 2,400 so I think gold really has support just under 2300 now I think we’ve you know we’ve moved up to a level where we’re now seeing support above what used to be resistance but what might be the Catalyst for a more substantial move that will get to price of gold to 3,000 and Beyond uh would probably be the realization that inflation is not going back down to 2% and that the FED is going to stop trying to get it there or at least pretending that it’s trying I think the markets right now still are harboring this F FY that a return to 2% inflation is possible in fact if you look at the break evens on 30-year treasuries and tips investors are expecting inflation to average 2.3% for the next 30 Years I mean that is a complete pipe dream that that’s going to happen you know uh the low inflation that we’ve had since the’ 08 financial crisis that’s an aberration that’s the exception not the rule you look at the 40 years before the 2008 financial crisis inflation average close to 5% a year and you know the FED never had a 2% inflation Target when inflation was above 2% the entire history of that Target existed when inflation was below 2% that’s why they made it up they used it as a justification to create more inflation because they claimed it wasn’t high enough because we were still below 2% but because they created so much inflation to get us back up to 2% we’re now way above it and we’re never going back down to it and the fed doesn’t have the political will to do what’s necessary because if they really wanted 2% inflation they wouldn’t have stopped hiking rates they have a long way to go up and pal would not be uh telling Congress that he doesn’t care about budget deficits and that he can’t criticize them he would be laying into the government for running these deficits because there’s no way we’re going back to 2% inflation uh with two three4 trillion do a year budget deficits it’s just not even possible uh so pal is not willing to stand up and do what’s right and criticize Congress for doing what’s wrong there’s no chance of 2% inflation so when the markets get their arms around this uh they’re goingon to have to reprise gold much much higher okay so that’s a really great point because I’ve been talking about that a lot on the channel recently so you know let let’s dig into that a little bit inflation remains high but when I’m looking at the market and especially the the latest comments by Jerome pal it’s seems to me that there’s increasing pressure on the Federal Reserve to ease on rates despite the fact that inflation is not even close to tamed now you’ve got issues with the banks severely underwater on bonds you’ve got pressure from the Biden Administration to save the market before the election not to mention the huge interest payment burden uh that the high rates are putting on the federal government’s debt and you’ve also got the ticking time bomb in Japan that that may force them to dum more US debt on the market to prop up the Yen tell me Peter is there any chance the FED will simply ignore inflation and deliver Cuts earlier than the Market’s currently expecting well the FED will absolutely ignore inflation uh will it deliver Cuts before or after the markets are expecting that that I don’t know but it it makes sense that everybody is you know agitating the FED for inflation because everybody’s addicted to it like the because the FED used inflation to keep interest rates so low for so long everybody has grown in addiction to the cheap money and when you take away the cheap money obviously the addicts are going to demand more of it you know they’re starting to have withdrawal we’re seeing Banks fail uh we’re seeing pressure now on on the stock market uh debtors are filling uh the the the pinch of rising interest rates you know consumers not only are they dealing with Rising prices for food and energy and everything else but the cost of paying interest on their debts has also gone up a lot so everybody wants to Fed to reduce rates and So eventually they will but you know they can’t reduce rates to prop up an overly leveraged economy and fight inflation they’re they’re mutually exclusive in fact when they try to bail out the debtors by printing money they’re conceding and they’re losing the war on inflation inflation wins and it’s going to accelerate to a whole new level so keeping on the topic of the Federal Reserve anyone with eyes can see and you mentioned it that the US debt situation is getting out of hand us bonds are becoming less attractive for foreign central banks as the US weaponizes the dollar now I assume some people in the Federal Reserve can see the writings on the wall I can’t imagine that everybody in the in the Federal Reserve is brained they have to have a few intelligent people at least who can recognize this trend and where this is likely going now one of my patreon members Kevin uh was asking about your opinion on why the US Federal Reserve isn’t increasing its gold reserves especially if they have the ability to print do the dollars they need to purchase it well I mean first of all I think that’s the last thing the US government wants is to help push the price of gold higher because a rising gold price is a is a bad sign for the dollar and its role as the world’s Reserve currency I mean the Dollar’s primary competitor is gold you know central banks have a choice they can own gold or they can own dollars and more and more central banks are choosing to sell dollars to buy gold and so if the if the US Treasury joined the gold buying party that would put even more upward pressure on gold and create even greater incentives uh to buy it and of course that would send the wrong message right if they def us started buying gold imagine the message that that sounds that’s like you know uh you know the the the policemen are having to uh you know get calling the police to protect themselves right I mean you don’t it would send a message that things are not great because we’re telling everybody how great everything is it’s great economy the strongest US economy inflation is going back down uh so why would the US be buying gold it would be sending a mixed message to the world you know uh you know ignore what we’re we’re saying look at what we’re doing right we could say one thing but we’re doing the opposite by by buying gold uh so that’s not going to happen uh they that we should be buying gold we probably don’t have nearly enough uh but uh it’s more likely that we might start selling our gold I’m not even sure how much we’ve got left but if the dollar or when the dollar rather really starts coming under a tax will blow through our foreign exchange reserves very quickly uh we don’t have that much as far as you know how many euros we have or Yen or pounds uh so we may end up having to sell gold we’ll see uh but I think that’s more likely than that we that we start buying okay so considering what I mentioned also in the in the previous question about weaponization of the dollar and Central other central banks non us uh non-federal Reserve increasing their gold reserves there has been a lot of speculation that the bricks countries are going to lead the world into a new era of sound money with a new gold-backed currency or commodity-backed currency now I’ve been skeptical about the bricks ability to do this and I even question if that’s a function of the bricks like what is the bricks is it like NATO is it like NAFTA is it like the European Union or is it like all of those things rolled into one because I I think a lot of people in the precious metal space pin a lot of hopes at least the average Observer on bricks to be able to pull this off and again make a return to to sound money so I’d like to hear your take on the bricks do people in the gold and silver space make too much of it in that they are just as addicted to Fiat as everybody else or do you think the bricks will actually trigger a significant shift in the Global Financial system well I think the world is going to go back to uh a gold standard based on its own self-interest whether it’s led by the bricks or not um because the current monetary system doesn’t work uh I mean it works for some people like the United States because we are the beneficiaries of this deal but the rest of the world uh has to pay the price suffer the burden they have to run huge trade surpluses and accumulate dollars and then they have to loan us those dollars in perpetuity uh and never expect to get repaid because we can’t um and so the world has to live beneath its means to enable Americans to live beyond their means the rest of the world has to uh under under uh consume and and save and then make that available to the US and finance these huge trade deficits that that we have with everybody and you know this is causing all sorts of problems not only the drain on the resources of these economies but by keeping interest rates artificially low to help sustain the dollar they also uh end up with asset Bubbles and misallocations of resources and they screw up their own economy so we’re exporting our bad monetary policy all around the world and I think the sooner the world rejects the dollar as a reserve currency and moves on to sound money the better off they’re going to be now of course that’s when the pain really begins in the United States and we have to start uh you know like a like a a normal economy again we have to start producing before we can consume we have to start saving uh before we can borrow and that transition is going to uh you know mean a lot of losses a lot of financial pain maybe even civil unrest it’s going to be a difficult adjustment for America to make but the sooner we make it the better I mean the longer we succeed in delaying the Day of Reckoning the more we have to reckon with and so the more difficult it is but it’s going to happen it is inevitable so I’d rather deal with it now as bad as it is than deal with it later when it’s even worse but the politicians would rather deal with it later because they may not be in office later so they don’t give a damn right they just care about themselves that’s why they went into politics right they couldn’t give a damn about anybody else and they don’t care about the country uh and so they’re going to keep on postponing this until they can’t postpone it anymore because there’s crisis and the crisis will take the form of a sovereign debt and a and a dollar crisis um but you know I think if you look at the big buyers of gold the reason gold broke out to a new high it’s not that American public has been buying gold no they’ve been selling it’s a lot of these brick central banks that have been the main buyers of gold all year and and and last year too uh it’s funny because you know before I came on I was asking some of my patreon members also for questions uh for you and and one of my patreon members Atilla was asking and it’s it’s funny that you brought it up do you think that the Federal Reserve has a plan B do you think they have a plan for when something like what you’re describing happens to the dollar or do you think they’re convinced that the dollar is Immortal yeah I mean I don’t know that they are smart enough to have a plan b or not maybe it’s not about intelligence they’re they’re um I they don’t even have the huus I mean I think they’re very self-confident in the Dollar’s position and they just don’t they don’t think there’s anything that could upset that so I don’t think they’re you know planning for a reality that they think has zero probability they’re very arrogant in this respect and again I think they overestimate uh the importance because they think that the rest of the world needs us that they need our dollars that they need our consumption that that that that we without them they’re they’re they’re ruined right because we’re the only ones that can buy what they produce we’re the only ones that can borrow what they save I mean this is nonsense obviously but a lot of people believe this and and and so I don’t I don’t think anybody is going to be worried and if you look at where the national debt is you know it’s $35 trillion almost you know people have been very uh you know concerned about the debt at least people like me you know since it broke a trillion in Ronald Reagan’s first term in fact Reagan was concerned about it before he was elected uh and was critical of the budget deficits and the national debt under Carter but if you’re in Washington and you’ve seen the national debt go up 35 fold and as far as you’re concerned there have been no consequences no adverse consequences well then why should there be in the future I mean we it’s gone on so long why can’t It Go on indefinitely you know if the people who were worried about the deficit when it was at 5 trillion 10 trillion we didn’t do anything about it now it’s 35 trillion and none of the bad stuff that people were worried about has happened look the stock markets at a new high unemployment is you know below 4% everything is awesome so why should we do anything about the deficits because they clearly are not a problem because look how big they are you know and everything is fine and and and so you know to me it’s like you know somebody that’s smoking cigarettes and the doctor says you know you got to quit those cigarettes you’re going to get cancer uh but you know they keep smoking and they don’t have cancer you know they don’t quit until they go to the doctor and they says he know you got cancer and then it’s like oh shoot I better quit smoking well it’s a little late for that right you should have quit a long time ago but you know you think well I haven’t developed the cancer yet so I guess I can keep smoking so by the time we get the crisis it’s too late you know to fix it right you you you know that ship sailed a long time ago I couldn’t agree with you more and my last week’s YouTube video was talking about how important it is for people who are interested in gold and silver to kind of get on a schedule because I’m seeing in the comments section of my videos all the time people who say well you know what I’m going to wait for the crash because when the crash happens well gold and silver are going to come down with it so that’s what I’m going to buy Peter I’m just curious what would you say to somebody who who is operating on that logic well if the dollar crashes then clearly that’s not the case so you have to hope if you’re waiting to buy cheap gold you have to be betting that the dollar gets more valuable and I just think that’s a slim possibility uh I mean it it may get more valuable relative to the Yen or the Euro uh but not gold I think there’s minimal upside potential for the dollar in in terms of gold yes you know there was a brief drop in Gold when we had the crash in 2008 but you have to put that in perspective gold had moved from 300 to 1,000 from 2001 to 2008 so gold had a huge run and then it pulled back you know 20 25% with the financial crisis then of course it recovered and went to 19 made a new high but we haven’t had a big run in the price of gold goal’s gone sideways for more than a decade we’ve just broken out of major resistance and it’s not like we’re miles above it I mean if gold was already four or 5,000 and you wanted to wait for a pullback okay I I could see your logic but we’re at 2300 where’s it going to pull back to the breakout was 22100 I mean we’re we’re very close to the floor in fact I was telling people on my podcast when go was around 2000 000 that that was the floor there are a lot of people who thought it was the ceiling they were worried about buying $2,000 gold and I kept saying look 2,000 AR gold is going to look cheap eventually don’t worry about it you’re getting a good deal and now it’s slightly less cheap but I think we’ve broken out I think 2300 is the new 2000 so I I if you’re waiting for a pullback in Gold you know you could be waiting indefinitely I would just buy it now and if it pulls back what’s the big deal I mean it’s going much higher you can always buy more if it pulls back and you have extra cash you can do that U but you should be buying it because I think the downside is relatively limited and even if there is a crash in everything right and the dollar goes up and gold goes down I think stocks in real estate will go down much more than gold so in terms of your purchasing power in terms of your ability to use your gold to buy other assets you’re still going to gain value uh but the risk you have by you know just hunkering down in dollars is that the dollar crashes we have hyperinflation and then you got a pile of worthless money you know then doesn’t matter how many you have you can’t buy any gold because nobody with gold will sell it to you for a worthless currency now the dollar may not become worthless but it could be worth a lot less right even I was watching on on X even Elon Musk was saying hey if we don’t do something about the deficits the dollar could become worthless well we’re not going to do anything about the deficits we’ve never done it in the past and we’re not going to do it in the future you know and again it’s too late to do something about it it’s not like it’s getting out of hand it got out of hand a long time ago so now all we can do is brace for the inevitable crisis whether we accelerate it uh by taking some affirmative action which we should do or we just wait for it to happen on its own based on outside forces which will make it even worse but there is no easy way out of this right if there was they would have taken it a while ago uh so there’s only there’s only bad choices it’s just unfortunate that the worst choice is to wait for the crisis which is what they’re going to do rather than make the difficult choice of accelerating the crisis and having it on our own terms before we wrap up I want to just shift gears a little bit because owning medals is obviously a fantastic way to hedge yourself against this these issues that you’re talking about and the issues that I’m regularly covering also on my YouTube channel this is a system that’s full of debt and a lot of it is based on paper derivatives now I turned bullish on mining stocks last year last last summer and so far to be honest they haven’t disappointed I’d love to know if you think we’re done seeing gains on the miners or is this still a trade that people can enter and what do you think is the best way to gain exposure to this trade Peter if you still think there’s some some gas left in the tank on this one well I mean most miners are lower than they were a year ago I mean a lot of them aren’t even positive this year you know I mean the gold stocks have been killed the sentiment is awful even when they beat earnings other than Newan had a rise but that’s because it was some idiot a couple of months ago put a sell recommendation on Newman I mean he put a hold on it but it means sell and uh you know the stock hit a new uh multi-year low and this is while gold was still a 2000 so no I I the gold stocks have not even started to Rally we still have a long way to go to get back to where they were before gold rallied uh the markets still don’t believe the rise in the price of gold investors expect gold prices to sell off and be lower in the future than they are today and again that’s because they have no understanding of inflation or monetary policy or the the real nature of the US economy or the global economy for that matter so no I mean I I I added to my own position in mining stocks a couple of months ago you know as they were as Newmont and barck were getting downgraded I kept buying those names and other names that you know went down in sympathy uh so no I haven’t bought any more uh in recent weeks only because I already put a lot of dry power to work but if I hadn’t I mean I could be buying now I mean the prices are still extremely attractive uh I think on these names uh there’s risk involved clearly I mean gold mining companies they’re risky businesses I mean a lot can go wrong with a gold mine um so you you know you got to you know be willing to lose some money when you buy these things very different than just buying the metal which is is I think a lot uh more conservative uh thing to do uh it doesn’t have as much upside it has a lot of upside actually for now but I don’t think as much as you get in these mining stocks so that’s tradeoff uh you can get a lot more return if you’re willing to take that risk risk and that’s what I’ve done personally so I would you know I would encourage people who are Risk Takers who believe that the price of gold is going a lot higher if you’re right about that and the key is that the price of gold has to rise more than the cost of mining it because that hasn’t been the case for a while gold prices have gone up but it’s but the cost of getting it out of the ground has gone up even more so inflation drives up mining costs but because investors underestimate how bad inflation is gold doesn’t keep Pace well that’s going to change in my opinion and so then you’re going to see uh profits exploding at these mining companies uh so people should get invested I mean one way they can do it is they can buy my mutual fund the EUR Pacific go fund you can buy that fund no load epig GF Epi GX I think is the symbol Europe Pacific go that’s the no load version uh you could buy it at any of the discount brokers you know swab Fidelity all the have it on their platform or you can actually contact my asset management company your pafic asset management you got the URL above my shoulder and we manage portfolios some of them are exclusively mining portfolios for people we also have you know broader portfolios uh and we manage foreign stocks value stocks dividend paying stocks all sorts of portfolios designed to provide an inflation hedge a hedge against a weak dollar but not just by concentrating in Gold but by taking a broader approach uh and looking for uh greater dividend yields that are not necessarily tied to the price of gold uh so you know you don’t want to have 100% of your exposure in Gold but you don’t want to have zero either which is what most people have uh so you you know you want to have some money there especially now I think given how much potential there is for the price to go higher relative to the risk that it goes lower and for everybody watching the video I’ll leave the links to that in the video description below just in case you want to access that and and and check it out and you know get behind a lot of the things that Peter’s saying here because you know I can say that I been a fan of yours Peter for years now again I’m humbled even I was a little nervous during this interview having you on on my channel and I really appreciate the fact that you came on to support to support a small guy like me uh really I’m I’m I’m really humbled and thank you so much for joining uh is there anything you I guess you would like people to also follow you on Twitter I know that’s a really great Pro place you’re very active there on Twitter so they can find you just under Peter shiff right on on X I should say right right yeah that’s my handle remember it’s not Twitter anymore it’s x uh and so yeah so my my ex handle is uh at Peter shf and you know I’m pretty easy to find I’ve just over a million uh followers there but I’ve got over half a million subscribers to my YouTube channel getting closer to 600,000 so you should uh subscribe there that way you’ll get alerts not only when I post my podcast on YouTube uh but also to other videos that we post on the YouTube channel you’ll get a reminder when I do that so follow me there and I’ve got stuff going on on Instagram and Tik Tok and Facebook so you can go to all the various social media platforms and follow me and try to encourage people that you know to follow me because I think I have a very important message that needs to get out uh you know it’s not out in the mainstream media uh it’s dominated by uh keynesians and a bunch of people with an ulterior agenda to promote a false Narrative of uh the strength of the economy and you know the omniscience of the fed and everything is great and you know so if you really want to get a better take on what’s Happening remember you know the 2008 financial crisis caught the mainstream media Wall Street Academia by complete surprise um I was out there warning about it for years I wrote a book about it predicting the financial crisis uh you know blaming it on the Fed and the housing bubble and Fanny and Freddy and I I mean I nailed everything that happened and why it was going to happen but I did it years before it did happen and after it happened the government in Wall Street acted as if nobody could have seen it coming like oh my God this came out of left field nobody could have predicted this this was just a 100-year flood so you can’t blame anybody for missing it no no it was obvious you know it was almost impossible to miss yet they missed it it was like you know it’s like a weatherman you know there’s there’s a hurricane right off the coast and you could see it and you can already and and you’re predicting that ah it’s just going to be a sunny day don’t you know no don’t even need an umbrella and and what we’re facing now this is an even bigger Financial storm just off the coast uh the coming dollar crisis a sovereign debt crisis this is worse than just a garden variety financial crisis this is so much bigger the stakes are so much higher yet the same people who were oblivious to that crisis are oblivious now I mean Jerome poell just last week said he didn’t even see signs of stag flation it’s the same guy that said St translation he said yeah he said there’s no Stag and there’s no flation it’s not just stag flation it’s an inflationary depression that’s how bad it is there’s so much stag there’s so much flation yet he can’t see any of it you know just like when uh uh uh Ben bandi said well subprime is contained but before he said it was contained he said it wasn’t even a problem and then after it blew up he said well don’t worry the problem’s contained and then we had the financial crisis so none of these guys got it um and they still don’t get it and that’s because either they don’t understand the economics or they’re just lying but either way you know you’re not going to get the truth uh from the mainstream and so you got to look to guys like me and I’m not the only one but I’m as Source uh and you can get it on you know my YouTube channel and my social media and by listening to the Peter shift Show podcast which you can do on my YouTube channel or at shift radio.com thank you so much Peter for sharing that sharing your wisdom with my viewers and I’m certain that each and every one of them is going to come if they’re not already watching you to watch you now because that is really you know some fantastic insights you shared with us so thank you again Peter for joining and thanks again Roger for having me on and good luck with with your podcast and building up your audience cheers thank you take care bye bye

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In this video I have a discussion with Peter Schiff on:
– The catalyst that will send the prices of Gold & Silver higher.
– The Federal Reserve and their commitment to getting inflation down to 2%.
– BRICS and their role in the precious metals market.
– What high Gold price are telling us about the state of the economy & US Dollar.
– Mining Stocks – is there still room for more price growth in mining?

Follow The Peter Schiff Show on YouTube:
https://www.youtube.com/@peterschiff

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