Peter Schiff: The 20’s Will Be An Explosive Decade for Gold
In 2019, gold had its best year since 2010. Peter Schiff appeared on the RT Dec. 31 and said he thinks the yellow metal should have done even better. And given the current economic conditions, he believes the 20’s will be an explosive decade for gold.
You know, the reason the US stock market went up this year is because the Fed surprised everybody by doing exactly what I had been predicting they would do. They aborted their feigned attempt to normalize their interest rates and shrink their balance sheet. They went back to rate cuts and quantitative easing. This is extremely bullish for gold.”
Peter emphasized that gold should have been up a lot more in 2019, but he thinks it will catch up over the next several years — probably next year in particular.
Gold is going to be one of the best-performing assets classes, if not the best-performing asset class on the planet.”
Peter noted that gold made significant gains in 2019 despite a dollar that was relatively flat.
But the dollar is going to fall through the floor. That means gold prices are going to go through the roof.”
Peter said we are about to enter a new decade of stagflation – low economic growth and increasing inflation. He said it’s going to be even worse than the stagflation we saw in the 1970s.
This is going to be more like an inflationary depression. So, this century, the depression is going to come a decade early. It’s not going to be the roaring 20s. It’s going to be a decade of inflationary depression in the United States.”
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