저자: Peter Schitt · 외국인
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Washington's turmoil is keeping a bid under gold the metal now as session highs as the news came out that Sean Spicer resigned as a White House press secretary August gold now ending the week up two percent at 12:53 an ounce joining us from Las Vegas today where he's a secret the Freedom Fest conference is at Peter Schiff CEO of euro pacific capital peter a good to see you which I was there with you guys yeah it's a great conference I don't know if you ever get a chance to come here to Las Vegas in the summer is normally not a reason to be in Las Vegas in July but the freedom fest conference is worth the trip yeah and we're going to talk about in a bit I've covered it for many years unfortunately can't be there this year but let's talk about the turmoil in the Trump administration here what are your thoughts on the Spicer exit well I know I guess Saturday Night Live is going to have to come up with some other skits I wonder if they're going to get somebody to play Anthony scare Moochie but you know yeah Trump is going to have a lot of problems he inherited a disaster of an economy from Obama the problem is he pretended that the economy was great he's now you know claiming ownership of this economy he's put his brand on the stock market so I think he's basically taking over a sinking ship he should have been more forthright after the election he should have stayed on the message that candidate Trump he was very critical of the phony economic numbers he was calling the stock market a bubble he should have continued that now he's taking the bait but it's not just gold going up the dollars down in fact the dollars lost more than 10 percent of its value since early January is closing the week at a new low for the year chart looks horrible on the dollar I think it's going a lot lower you know you had a huge very crowded trade everybody was long the dollar coming into the year they were so enthusiastic about it there were even cover stories written about the mighty dollar that was the top we're going a lot lower and that generally means Gold's going a lot higher in fact I'm surprised that gold isn't already higher I think it's been lagging but I think it's got a lot of lost ground to make up for just wondering what the catalyst is going to be but I do think it's going a lot higher okay well we are ending the week up 2% many thing we put in the bottom last week what are you doing with it at these levels and you say we're headed higher I know you've been saying that for a long time but where are we going well higher you know we had a big washout in silver - not too like a week or two ago the silver price went down about 15 bucks it's almost back up to 17 not quite but I think we had a big sell order you know we had a big special on silver I got really excited about it when it got down near $15 and I still think Silver's a great buy here but you know what is going to compel propel it higher hard to say there's so many different catalysts that could do it but you know I think we got to get gold out of this trading range it's got to get you know well about 1,300 or about 1350 I think right now at you know 12 50s I mean people just look at it and it's like well it hasn't got anywhere it's just where it's been so I think it really has to break decisively out of this overhead resistance and then I think a lot of people are going to start buying it well you know if we compare it to equities here in the short term equities are still really outshining the yellow medal of a study from The Telegraph showed that since last year's brexit vote a portfolio with only 5% exposure and gold is up 32% beating a 50 percent exposure which is up 17% yeah you know last year gold did really well gold stocks were my best performers last year this year they're my worst performers even though they're up they're not up as much as mine on gold stocks you know I manage for five mutual funds and the worst performer on the year is the gold fund I mean even my bond fund is beating my gold fun but I don't think that's good I think that's going to change you mean right now you're to date it's by merging emerging market fund that is the star performer but you know I do think by the end of the year I think gold is going to overtake it I think it's going to have a strong finish to the year no last year gold had a weak finish because everybody got excited about Trump you know the dollar rallied on on Trump and you know I said at the time I thought that was a head-fake that the Trump honeymoon wouldn't last and you know it's obviously it's already over and I think that you're going to start to see a lot of disappointment a lot of people who are enthusiastic about Trump making America great again I think going to start you know capitulating on those hopes because you know again I'm not blaming this thing on Trump and he inherited a disaster I mean he's not making it better but in order to make it better a lot of things have to get a lot worse first and no politician wants to acknowledge that I mean that's why look that's why we can't get rid of Obamacare because no one wants to tell the truth no one wants to tell the American public there's no free lunch you know all the Republicans want to do is put their their brand by the free lunch but they don't want to take it away Peter I interviewed Jim Rogers earlier this week who's also a panelist with you at Freedom Fest you know and I want to ask him what his message to attendees is as he said well be careful and that we will see the worst financial crisis in his lifetime is your message as gloomy yeah I mean look you know we have the same opinion or the same conclusion the only disagreement that Jim and I had this morning was that even though Jim thinks the dollar is going to ultimately collapse he still thinks it's going to rise first he thinks this next crisis that's going to be worse than the financial crisis well once again caused people to buy the dollar and that's about the only thing I disagree with I think the dollar rally is over I think the dollar rallied on anticipation of rate normalization of a shrinking balance sheet I think when the Fed has to go back to QE and cut rates I think that's it for the dollar I think the dollar had its last hurrah I hope Jim is smart enough to get rid of his dollars before they completely collapsed because he said he's holding on to a lot of dollars and and it's only because he thinks that the euro and the end could be even worse in the short run but I don't look look at the dollar against the euro the dollar is very weak this year against the euro it's been weak against the enemy the yen had a bit of a pullback recently but that's been reversed though now look I mean I don't like the Euro or the the end that much myself I just don't think they're as bad as the dollar but you know when I invest the world is not just those three currencies there's a lot of currencies that you can own so you can be out of all three of those currencies and there's a lot of currencies that you can own that are not nearly as bad but that's why I like gold because it's not a currency gold is real money currencies are just substitutes for money Gold is the real and even if people aren't using it today as money they will eventually I mean the world's been on the gold standard for a long time every once in a while we go off it and then there's a disaster we get back on and and that's coming you know with the the internet age I mean it's it's easier now to be on a gold standard than ever before I think gold works better as money today than it's ever worked in human history and it's worked very well in the past and it's going to work even better in the future Peter Schiff thanks so much for joining us from Las Vegas from the free and press conference thank you sir and thanks for watching this edition of caicos gold report we'll be back next week
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