Money manager Peter Schiff predicts, “Inflation is going to run out of control. . . . This is why people need to buy gold. Paper currencies are going to lose a tremendous amount of value. So, if you want to preserve your purchasing power of your savings, you better be saving real money and not all this funny money the central banks create. . . . Once the market perceives that there is no light at the end of the tunnel, that we are never going back to normal, that interest rates are going to stay negative in real terms forever, that the Fed has no ability to raise rates, that all the new money that has been created will never be destroyed, that the Fed balance sheet will grow in perpetuity so liquidity will never be removed, then the dollar will fall through the floor. Then we are going to get all that inflation.”
Schiff is predicting another bull market in gold and silver. Schiff says, “If we are going to have another bull market in gold, which we will and it’s probably already starting, we are going to have a bull market in silver. I don’t think we have ever had a gold bull market that didn’t include silver. In every gold bull market, silver has outperformed gold (on a percentage basis). So, there is a lot of upside in silver.
Join Greg Hunter as he goes One-on-One with Peter Schiff, founder of Euro Pacific Capital and Schiff Gold.
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