Kitco News, Released on 11/9/23
Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Peter Schiff, founder of Schiff Gold and Chief Market Strategist of Euro Pacific Asset Management, who says the macro environment resembles 2007, right before the 2008 financial crisis. Schiff warns that it will be worse this time than the 2008 downfall, adding that the Federal Reserve will have to choose between a massive financial collapse or sacrificing the U.S. dollar. He also discusses the depth of the U.S. debt spiral and gives his gold price outlook.
00:00 – Intro
01:50 – It’s feeling a lot like 2007, what’s next?
04:52 – Data revisions
08:31 – Market reaction
11:09 – It’ll be worse than 2008
12:27 – The trigger to watch
16:38 – Currency collapse
27:08 – What’s the alternative to USD?
38:21 – What derails Peter Schiff’s outlook?
43:46 – Geopolitical situation
46:24 – Gold forecast
54:18 – U.S. election
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.