Greece and the Euro Breakup; Why the US Dollar Is Facing an Even Bigger Crisis
One proposed solution to Greece’s European debt problem is for the Mediterranean country to abandon the euro and resurrect its old currency, the drachma. In his April Gold Videocast, Peter Schiff explains why a new drachma would be ideal for Greek politicians, but a disaster for Greek citizens and creditors. Peter also reveals why the United States faces the same debt dilemma as Greece. There’s just one major difference – the US already has a currency it can devalue.
Peter Schiff's investor workshop at the 2020 Orlando MoneyShow
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The Peter Schiff Show Podcast - Episode 167
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Inflation is on the rise and so is denial about it.
Oil prices reach their highest levels since Covid began.
Broken bond market and rising stock market are not evidence of low inflation.
Janet Yellen admits higher inflation is coming, but says it’s a good thing.
Global minimum tax is a big negative for the world.
Bitcoin 2021 cult member love fest comes to an end in Miami.
Michael Saylor goes into more debt desperately trying to keep Bitcoin from collapsing.
The world will not be following El Salvador’s economic lead.
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The Peter Schiff Show Podcast - Episode 309
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The Peter Schiff Show Podcast - Episode 495
Recorded August 27, 2019
Real Significant Action in the Market: Gold and Silver -
The real significant action today was in the gold & silver market. I wanted to mention today that on Friday, the U.S . dollar sold and then today we're back at 98. So the dollar is not weakening against other foreign currencies. In fact, most people are still talking about the strong dollar. Even Donald Trump talks about the fact that we have a strong dollar. Now, Trump is bothered by the fact that we have a strong dollar, and he wishes it wasn't as strong, but he keeps talking about the strong dollar and everybody acknowledges that the dollar is strong.
Silver is a Great Buy -
The problem is: the dollar is not strong. The price of gold going up shows you that the dollar is not strong. Gold was up $16 an ounce: we closed at $1542.50. This is the highest close in over 6 years for the price of gold; but the real star today was silver. Silver was up 53 cents - $18.17. It's been a while now since silver was above $18. If you have been listening to my podcasts, you know that I have been pounding the table on silver. I've been telling people that silver is the key; it is really cheap relative to gold. In fact, it was better than 90:1. You needed more than 90 ounces of silver to buy a single ounce of gold. That was an all-time record low for the price of silver. Now we're at 85. The ratio has moved back in silver's favor, but you still need 85 ounces of silver to buy one ounce of gold. That is historically extremely cheap. In fact, the only time it was cheaper was when it was 90. So it's still a great buy.
Cash in some Gold to buy Silver -
I have been telling people, even at SchiffGold - we have actually been calling clients who we know own gold and have them sell us back their gold and buy silver, because you can get so much silver for your gold right now that it is a real bargain. Silver has never been this cheap, and so if you have gold and don't have any silver, it makes sense to buy some silver with your gold. Even after today's move, I would still say that that trade makes sense.
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Peter Schiff on BNN 1/27/2015
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The Peter Schiff Show (8/23/13)
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The Peter Schiff Show (12/2/2013)
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