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gold went through a long consolidation from 2011 to 2024 where it kind of traded between you know 1,500 and 2,000 up and down uh but that was after the big breakout from 2001 to 2001 where gold went from sub 300 to almost 2,000 about 1900 so we've Consolidated those gains we broke out this year uh I don't think Gold's going back to 2000 I think that's a history now and we're off you know to much higher levels without any resistance so I think the price of gold can double can triple uh from here and potentially go much higher than that gold went through a long consolidation from 2011 to 2024 where it kind of traded between you know 1,500 and 2,000 up and down uh but that was after the big breakout from 2001 to 2011 where goal went from sub 300 to almost 2,000 about 1900 so we've Consolidated those gains we broke out this year I don't think Gold's going back to 2000 I think that's a history now and we're off you know to much higher levels without any resistance so I think the price of gold can double can triple uh from here and potentially go much higher than that prior to the election of trump we were on track for the biggest percentage gain in Gold since 1979 now we still might get back on track for that depends on how December goes uh but even if it's not as you know the best since 1979 it's one of the best years Gold's up by 30% and more significantly so far this Century or Millennium you know since 2000 January of 2001 gold has outperformed the S&P in fact it's outperformed all the major stock market indexes in fact you can go back to uh 1999 From The Bottom Of Gold when gold was you know close to 250 and it's outperformed everything since 1999 so you're talking about close to 25 years where gold has has beaten the stock market yet there's no Euphoria for gold uh there's PL plenty of euphoria in the stock market nobody cares about risk there but take a look at what's happened to Gold stocks uh you know gold stocks are still down 15% from where they were two weeks ago you know before you know just before Trump was elected gold itself is Le down less than 3% from its peak and it's barely down I think it closed Friday at uh 27:15 when Trump was elected maybe it was 2750 down $35 that's it well I just think there's not a lot of conviction in in in gold and I think that the investors who might normally be buying gold stocks you know are buying Bitcoin ETFs or they're buy micro strategy remember retail investors have been selling gold all year and the selling was particularly strong early in the year when people thought that 2000 was the top and so people wanted out the reason the price of gold has been going up is because foreign central banks have been buying uh and you know obviously they know something that the typical retail investor doesn't you know they're they're wasting their time on Fool's Gold but they're buying the real thing uh you do probably have the Chinese uh you know consumers they're they're buying or in India but I think at some point the price of gold is going to rise high enough uh that you know greed is going to start to replace fear in the market and then you're going to start to see investor interest uh really picking up in the mining stocks and I think they have a long way to go just to catch up to where they should be let alone to get ahead of the curve which ultimately they will the gold stocks will start anticipating higher future gold prices and pricing that in to the present stock price so we haven't got anywhere near yet that yet but but it's coming I think that's basically treason on the part of Lumis to try to say we should squander our gold assets on on on bitcoin um it'd be one thing to just even recommend buying Bitcoin uh but to say to pay for it by selling our gold but you know she wants to say it's not going to cost the taxpayer money cuz we're just going to sell this worthless gold you know that you know just Gathering dust at Fort Knox will just sell that but of course it's going to be highly inflationary because now the people who own Bitcoin who sell it to the US government have a lot of cash to go out and buy stuff uh but at the end of the day Bitcoin is not a viable Reserve because what makes gold a good Reserve is that if the US government ever needed to sell the gold in emergency to prop up the dollar there is a very deep liquid Market that could easily absorb the selling but if the US Government tried to sell a significant quantity of Bitcoin the market would crash in fact the only reason that Bitcoin is you know knocking on the door of 100,000 and probably going to be through by the time anybody sees the interview right but the only reason it's there is because everybody expects the US government to buy uh millions of Bitcoin you know to spend billions and billions of dollars waste taxpayer money which I think is the really the ultimate irony because Bitcoin was created as supposedly it's this is the alternative to government um you know where it's decentralized it's we're we're rejecting Fiat money and and and government yet now it's completely dependent on government because it's the government that's creating all the demand and so it's not that the free market is choosing Bitcoin it's that government is using uh the course of power of the state to basically Force people to buy Bitcoin because when the US government buys Bitcoin I'm an American citizen I'm I'm not choosing to have my tax dollars used to buy Bitcoin right the government is doing that against my will uh but what's happened is you had all the money in the Bitcoin industry the crypto industry was able to corrupt all these politicians by donating to their campaigns and funding them and the Payback right with the return on that investment that they're looking for is the government to buy Bitcoin they also want the government to make the gains on bitcoin tax fre so they can sell all their Bitcoin to the US government and pay zero taxes on the gain so it's a great deal for them but it's a disaster for the country hopefully uh Donald Trump uh you know stands up to this and and and and doesn't sell out the country well it's already at current market value everybody knows what it's worth nobody claims that it's $42 an oun and the government certainly wouldn't sell it for $42 and22 it just shows you how much value the dollar has lost since we went off the gold standard you know now you need $2,700 to buy what you could have bought for 42 and in fact you could have bought it for 35 uh in 1971 when we closed the gold window uh so that that that price doesn't mean anything and it doesn't create some kind of windfall to say oh let's value it at the market and then sell it you know get rid of our gold uh that would be the worst uh monetary mistake the US can make remember the British sold a bunch of their gold back in 2000 they marked the low they sold out about $250 an ounce now certainly I mean it's high price now but given all the inflation that's been created and will be created makes no sense to sell it especially if the goal is to buy Bitcoin instead of gold because Bitcoin has none of the attributes that give gold its value it's it's it's counterfeit gold I said it's Fool's Gold uh and it's you know it would be horrible if the US uh taxpayer American public was the final bag holder in Bitcoin the exit strategy for the guys that got in early in this Ponzi pyramid Chain Letter whatever ever you want to describe it you know they ran out of chain in the free market uh they got Wall Street involved uh with all the ETFs but that couldn't do it uh and that I think I think if Trump had lost this race Bitcoin would be collapsing right now so rather than being you know almost at 100,000 we'd probably be below 50,000 and and falling fast summary of Peter shi's gold market insights Peter Schiff highlights Gold's impressive Journey since 2000 Rising 11 times in dollar terms far outpacing major stock indices like the S&P 500 which has grown 572 in the same period despite this gold remains underrepresented constituting only 0.5% of Global Financial assets shift views the recent breakout from a long consolidation phase 2011 to 2024 as a pivotal moment marking the start of an unrestrained upward Trend he predicts gold could double or triple in value due to strong fundamentals and growing demand from central banks like China and India shiff critiques low interest in Gold stocks attributing it to investor focus on Tech and crypto assets despite gold mining stocks being undervalued relative to historical levels he dismisses Bitcoin as a Ponzi scheme unfit for Reserve purposes contrasting its speculative nature with Gold's enduring stability and liquidity he also cautions against proposals to sell us gold reserves to to fund Bitcoin purchases warning it would undermine National Economic Security shift believes Rising gold prices will eventually shift Market sentiment spurring renewed interest in mining stocks and solidifying Gold's position as a premier investment asset
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