The Peter Schiff Show Podcast
Gold and Silver Are Poised to Melt Up - Ep 985
Oct 23, 2024
Gold and silver prices are on a rapid ascent, prompting discussions around Fed policies and rising long-term bond yields. Peter Schiff critiques media narratives about economic strength while highlighting inflation's role in an increasingly weakened economy. The implications of the BRICS Summit on the dollar and the paradoxes of Trump's economic strategies are explored, alongside investment strategies in gold and commodities. Ultimately, Schiff advocates for addressing national debt head-on, suggesting honest default as a necessary strategy to mitigate hyperinflation risks.
56:01
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Quick takeaways
- Gold and silver prices are surging significantly, highlighting the importance for investors to acquire precious metals before future price increases.
- The unexpected rise in long-term bond yields contradicts the Federal Reserve's expectations, indicating a troubling shift in economic resilience despite mainstream media claims.
Deep dives
Gold and Silver Price Movements
Gold reached a record high, increasing by 3% to nearly $2,750, a movement paralleled by silver, which surged over 10% to close at approximately $35 per ounce. This upward trend is significant for investors, especially amid ongoing special promotions for acquiring junk silver half dollars at advantageous prices. The fluctuation in silver's price illustrates market volatility, as it dropped temporarily after a previous announcement of a special discount, creating opportunities for savvy investors. The host emphasizes the importance of buying precious metals now rather than waiting for potential future price hikes.
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