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Peter Schiff: Fed will ‘wipe out’ many investors; gold to return as reserve currency

Kitco News, Released on 5/19/20

The Federal Reserve is going to create an inflationary environment that is like a tax that will hurt society on all levels, and this is what investors need to do to avoid wealth erosion, says Peter Schiff, CEO of Euro Pacific Capital.

In this interview, Schiff comments on the risks of holding dollar-denominated assets and what investors should be buying instead.

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1:33 – Federal Reserve’s mistakes
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4:21 – U.S. dollar
5:22 – Where is inflation really at right now?
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10:16 – Government’s response to pandemic
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15:31 – What should investors buy?

Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. 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.

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