Kitco News, Released on 9/5/24

Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Peter Schiff, chairman of SchiffGold and founder & chief market strategist of Europe Pacific Asset Management. Schiff warns the Federal Reserve is about to make its next big mistake as it effectively surrenders its fight against inflation and sacrifices the U.S. dollar. He points out that the dollar’s days are numbered as the global reserve currency. Schiff adds that the de-dollarization trend can be vastly accelerated depending on who wins the next election, potentially sending gold to $10,000 an ounce. He analyzes the U.S. labor market, inflation, and the upcoming moves by the Fed. Schiff also discusses the scenario of an eventual return to a gold standard and shares his updated gold price forecast.

00:00 Coming Up
01:32 Introduction: The Fed, Dollar & Inflation
02:09 Economic Data Revisions
04:40 U.S. Labor Market
07:36 Fed’s Monetary Policy & Gold
10:11 Implications of Rate Cuts
14:06 U.S. Election & Economy
18:50 Government Spending
23:30 Future of the U.S. Dollar
44:30 Election Outcomes & Economic Consequences
47:15 Gold as Reserve Currency, Return to the Gold Standard
59:17 Global Economic Shifts, BRICS Plus
01:10:36 Investment Strategies & Gold Price Predictions

Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron’s, BusinessWeek, Time and Fortune. His broadcast credits include regular guest appearances on CNBC, Fox Business, CNN, MSNBC, and Fox News Channel, as well as hosting his own weekly radio show, Wall Street Unspun. He’s also the author of the bestselling books: Crash Proof 2.0, The Little Book of Bull Moves in Bear Markets:, and The Real Crash: America’s Coming Bankruptcy – How to Save Yourself and Your Country.

  dollar, economy, election, Fed, gold