MARK MY WORDS! Gold's About to Be the BIGGEST BREAKOUT STORY In History - Peter Schiff | Gold Silver

MARK MY WORDS! Gold's About to Be the BIGGEST BREAKOUT STORY In History - Peter Schiff | Gold Silver

According to contrarian analysis, gold will likely outperform stocks over the next few months. That's because today's average gold-market timer is far less optimistic than the average stock-market timer, who is currently more exuberant than at almost any other point over the last 25 years. That means there is more of a wall of worry for gold to climb than stocks.
Economist and gold advocate Peter Schiff touts gold's impressive performance, noting that it is having its best year since 1979 before a dollar-driven setback. He emphasizes gold's long-term strength, outperforming major US stock indices since 2001 and marking a significant rise since its 1999 low. The performance of gold as an investment over the long term really depends on the time period being analyzed. For example, over certain 30-year periods, stocks have outperformed gold and bonds, but over some 15-year periods, gold has outperformed stocks and bonds.
So, stocks outperform gold over the longer term by about 3-to-1, but gold may win out over shorter time horizons. According to Peter Schiff, US stocks are overvalued and vulnerable to an economic downturn. He predicts they will lose value relative to gold, even if they seem to rise in a weakening dollar.
From a technical standpoint, Peter argues that fiat currencies are being debased, positioning gold as a vital store of value. Unlike currencies, gold is durable, doesn't decay, and is easy to store due to its high density. In fact, since the creation of the Federal Reserve in 1912, the US dollar has lost nearly 98% of its purchasing power. The gold price, on the other hand, has multiplied a hundredfold. This may seem like a lot, but gold has just maintained its purchasing power.
Regarding the US debt bubble, Peter Schiff expresses surprise at its size and resilience. He warned that rising payments, potentially reaching 2 trillion dollars or more annually, are unsustainable. Peter criticizes the 30 trillion dollars debt expansion, highlighting the dollar's declining purchasing power despite its relative strength. The dollar is dominant in global financial markets, as evidenced by its use in nearly 90% of global foreign exchange transactions, nearly 60% of global foreign exchange reserves, and invoicing for over half of global trade. However, the growing US national debt may diminish the dollar's global preeminence and US leadership on the international stage.
America's high and rising debt matters because it threatens our economic future. The COVID-19 pandemic rapidly accelerated our fiscal challenges, but we were already on an unsustainable path, with structural drivers that existed long before the pandemic.
Concurrently, Peter argues that neither political leader has the will for real reform, accusing them of sustaining the bubble instead of addressing systemic issues. He predicts worsening economic strain and questions whether the bubble will grow further or collapse.

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