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this is the best year that gold has had since 1979 uh that is not insignificant but also a key difference between now and 1979 that was the end of the gold bull market and in 1980 Paul vulker raised interest rates up to 20% that's what killed the bull and brought inflation down but the current fed is cutting rates is going to cut rates more in 2025 so gold is just getting started this is at 1979 this is 197 1 so gold is going to rise multiples of its current price just like earlier in this Century gold started in 2001 was $270 an ounce and it had a 10year rise to, 1900 in 2011 then it went sideways for about a dozen years 13 years now it just broke out this year and I think we're going to see a a move as big as that earlier move and that was a six-fold increase uh in Gold over 10 years once gold breaks out against the 6040 portfolio and silver makes a new all-time high the current secular bull market will fully align with the one in the 1970s the setup is for spectacular gains in Precious medals over 3 to 4 years the potential gains should surpass those seen in the 2000s from periods like 2005 to 2007 and 2008 to 2011 some research sets the upside for gold prices at levels as high as $3,000 per ounce which would represent an increase of more than 25% from current levels precious metals dealer and independent investment adviser Peter Schiff believes Gold's upward momentum is just beginning with prices nearing $2,700 and up 30% this year he contrasts today's market with 1980 noting that while high rates ended that bull run the fed's current rate Cuts will likely push gold even higher at the start of the month investors were warned that September has historically been a challenging period for the precious metals Market however it seems clear that this year's seasonal trend has been broken regarding Gold's future Peter predicts it could see a six-fold rise similar to its climb from 2001 to 2011 potentially reaching $20,000 per ounce he also forecasts a dollar collapse next year pushing gold prices further upward there is a chance that the United States based on the sudden decision of the US fed Reserve to introduce interest rate Cuts in order to combat inflation could also face a major dollar crisis in the incoming weeks as Major Market factors are pushing the economy into a crisis while analyzing the market Peter highlights that the GDP is inflated by borrowed money not real growth with gold going up he predicts it signals deeper economic issues now we present the clips of Peter schiff' think we're just getting started I mean gold is up almost 30% so far this year another you know all-time record high today getting close to 2700 in the spot Market this is the best year that gold has had since 1979 uh that is not insignificant but also a key difference between now and 1979 that was the end of the gold bull market and in 1980 Paul vulker raised interest rates up to 20% that's what killed the bull and brought inflation down but the current fed is cutting rates is going to cut rates more in 2025 so gold is just getting started this is is at 1979 this is 1971 so gold is going to rise multiples of its current price just like earlier in this Century gold started in 2001 was $270 an ounce and it had a 10year rise to, 1900 in 2011 then it went sideways for about a dozen years 13 years now it just broke out this year and I think we're going to see a a move as big as that earlier move and that was a six-fold increase uh in Gold over 10 years if gold goes up sixfold from here that's close to $20,000 an ounce it's not that gold is getting more expensive when we first started our country in 1789 gold was $20 an ounce and it was still $20 an ounce in 1913 uh over 120 years later when we established a Federal Reserve but now you can't buy an ounce of gold for $20 you need almost $2,700 it's the same ounce of gold all it's changed is the value of the dollars that the Federal Reserve creates well the dollar is about to collapse uh in fact you know it's almost near a new 52- we low here again today if you look at the dollar Index it's near a 13-year low against the Swiss frank it's going to hit a record low against the Swiss frank next year but I think next year the the bottom is going to fall out of the dollar and that's going to really unleash a bigger move up in in the price of gold but again it's not gold becoming more valuable it's the dollars that they're printing becoming less valuable the GDP is consumers spending borrowed money to buy uh more expensive groceries and stuff like that it's the government spending borrowed money is a big part of that GDP and we have a massive deficit that is a consequence of this fake uh GDP growth uh in the meantime our current account deficits are at record highs our trade deficits are at record highs the economy is hemorrhaging red ink we do not have a good economy we don't have a growing economy we have inflation and creates the illusion of economic growth but people are getting poorer even though the numbers are going up again look at the price of gold you need almost $2,700 to buy one ounce of gold right in his assessment Peter Schiff suggests that the Federal Reserves early rate Cuts reflect growing desperation especially with gold hitting record highs he anticipates inflation will Spike again driven by Rising oil prices pushing it Beyond 9% in 2025 according to the CME fed watch tool Market analysts are increasingly factoring in a 51% chance of another 50 basis point rate cut in November although gold pulled back from its peak the precious metal is poised for weekly gains supported by growing expectations of further us interest rate cuts the federal reserve's recent decision to lower rates by an aggressive 0.5% helped fuel a surge in gold which has gained 1.8% so far this week anticipation for another cut later this year continues to provide strong tail wins according to him the national debt is rising unsustainably with interest payments now exceeding $1 trillion annually he predicts that Rising treasury yields will force the FED to resume quantitative easing by early next year let's get back to the interview the FED is very desperate I mean normally they wait until there's a problem before cutting rates they wait for you know major stock market decline they wait for a recession but here their cutting rates even before were officially in a recession and with the stock market at all record highs with real estate prices at all-time record highs and with the gold price at an all-time record highs we've never had the FED start cutting rates when gold was at an all-time record high and in fact the record high in Gold proves that the fed's uh rate cut was a mistake it proves that the FED is too loose in fact they never achieved a restrictive policy they keep talking about that but they never really got restrictive because uh credit kept expanding uh we have record amounts of debt government debt corporate debt household debt credit card debt nobody stopped borrowing and we have record low savings so that shows that the FED never raised interest rates high enough to to break inflation and now they're cutting them prematurely and so gold is telling you that we're going to see a spike in the CPI uh big time I think in 2025 we've seen the lows in inflation 3% is about as low as it's going now it's heading back up to 9% and then higher and I think one of the big drivers next year is going to be oil because right now oil is the lowest it's ever been in history you can buy uh 40 barrels of oil with one ounce of gold outside of like a few weeks during covid you know that's never happened so oil is super cheap right now but it's not going to stay cheap uh it's going to you know after the election next year oil's going to go up Commodities are going to boom and and the FED is going to be in a real box along with the economy because inflation is going to be breaking out at the same time the economy is breaking down so we're going to go into recession with Rising unemployment but we're also going to have accelerating inflation and so what's the FED going to do in that in that in that uh circumstance if you look at um uh the way the national debt is rising right now it's rising about three to four trillion dollars every year uh interest on the national debt is over a trillion a year it's now more expensive than defense in a couple years we're going to be paying $2 trillion a year in interest on the debt it's it's going to be a bigger expense than Medicare or Social Security fiscal soleny of the United States is rapidly breaking down people are losing confidence in the dollar they're losing confidence in a creditworthy l of the United States our ability to service this debt uh we have no ability to repay it and so the dollar is going to be marked down and I think the world is going to be divesting of treasuries that's why you're already seeing uh yields on the 10 year to the 30-year are higher now slightly than they were when the FED started cutting rates and I think that's going to continue in fact I think that by the first quarter of next year and maybe even before the end of this year the FED is going to return to quantitative easing because the yield on the 10-year treasury is going to break above 4% again and and head higher and I think the FED is going to panic at that point and and relaunch quantitative easing Advocates of investing in gold call it a safe haven arguing that the commodity can diversify and balance your Investment Portfolio and mitigate possible risks down the road do you think Rising debt and inflation will continue to push gold prices to new all-time highs or are there other factors at play that could change this trajector e
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