Could Gold hit $20,000? | Peter Schiff predicts
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- čas přidán 30. 03. 2022
- Could Gold reach $20,000 if the dollar crashed? Hear Peter Schiff's predictions on gold and the dollar, and more on the full Peter Schiff debate on: • Video
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The dollar has already lost 99% of its purchasing power since the 50s.
Yup and 5 more years, another 90 percent.
small correction "since 1971,when Nixon took out gold standard"
The dollar will lose 100% of it's value.
If that ever happened, there would be mass chaos. Guns, bullets, TP, and water would be more valuable. Plus, Brandon would seize gold like FDR.
@@chickencharlie4539 Brace yourself because it's coming!!!
@@chickencharlie4539yes but people will still trade guns, food, bullets etc and gold can be used to help facilitate trade.
If there was that much chaos do you think people will give two sh*ts about the president banning gold?
I agree
@@samsonx1606😂😂😂😂
Peter is right, again.
GOLD DROPPING LIKE schiff’s REPUTATION. GOLD GOING BACK DOWN NOW JUST LIKE I SAID IT WOULD.
Peters right and understands economics well better than you or other so-called nobels of economics.
PETER HASN'T BEEN RIGHT IN FIFTEEN YEARS
Update no he’s not
😂😂😂😂😂😂😂
We dont expect hyperinflation because once our “leaders” in washington realize weve made a mistake, they will balance our budget and learn to live within our means. LOL
Aint no."we"
In Schiff we trust..
#BLUEJAYMINING
if dollar will lose 90 % of purchasing power, not just gold, but bread, toilet paper and almost everything will also see 10 fold increase
No shit Sherlock that’s what purchasing power is..
Well depending on productivity stagnation
But yeah that's generally true. But wages will go up a bit too.
Meanwhile all the profitable gold on planet Earth will be mined in the next fifty years
Way to state the obvious
I read an article talking about what happened to the value of things during weimar Germany’s hyperinflation, I don’t know how accurate the article was but it said that the price of foods increased massively along with gold, but real estate dropped, and so gold could buy real estate for very cheap.
@Patrick_Tremblay you can, but it's hard to store, say, $10000 worth of toilet paper, whereas that much gold can probably fit in your pockets.
Max Keiser first used that phrase couple years ago... He compared Bitcoin (no ceiling) to dollar (no floor)
Right, but gold is real money. And block chain-letters are just that… fiat shitcoins
@@billyraevalentine2135 lmao,
Shitcoins!!!😂😂
eventually it will reach that price , as it was 200 an ounce and now its 2000 but it took 25 years, question is how long it takes to get to 20000 . Not sure if anyone knows that answer
And who is willing to pay 20k
Only in 13 years time frame, 2000 will be yours 20,000 with only 20% ROI, but gold has given 30% or more return while market is worst and inflation get high folks, play wealthy strategy.
schiff hits the fan
gold goes up $20,000 so dollars collapses...So now I got $20,000 of useless dollars!!! How much is gold worth in other currencies??
Compare it to the value in the dollar and do the math. Gold is money. Currency is paper
@@hunden8404 pay for your car in gold...or some simple groceries
Sell the gold and pay off mortgage!!!
@@allentarver6286you don’t get it . Look at gold price chart in Venezuelan Bolivar
@@hunden8404 so buy a house with your gold?
Bitcoin already has
He’s said that for years
United States of Venezuela soon 👀
Silver 10000 💰🤑
Have to call BS! Been saying this year after year.
Gold is up from 1000 to 2170
@@Nhlpro14 Wow! You had to buy that gold 15 years ago and sit on it to make $1170 and that does not factor in the inflation eating into that $1170. I made that in one week selling covered calls. Might want to rethink that one.
Correct, but the economy has only neen this bad since 2008. And it is 10× worse now and still headed down@michaelcummings8795
In the worst case scenario US goverment will simply confiscate gold and would be illigal to have it
End of May or first of June fasten your seatbelts it’s gonna get crazy
Why?
@@hassan_a9 Because it is expected that there are going to be back-to-back interest rate hikes of 50 basis points by the Fed. He could mean something else but that is the logical conclusion I have.
Didnt happen, the answer is Bitcoin. as you were bad on this, don’t miss Bitcoin
@@hashimer5938 Actually, Mark is not a bad prognosticator, because we had a point 75 basis point rate hike last month, and this week, the Fed is expected to increase the rate by another 75 basis points, which is quite substantial.
Heading into August and gold is down.
Gold is not an investment. It’s for rich people to secure value in something
its real money. dollar is fiat currency toilet paper money like venezuelan currency and just like weimar Germany currency.
securing value in something is the DEFINITION of an investment
Like real Estate 🏡
It’s definitely an investment and not only for the rich. Start with coins and build your “savings “ for life
I'm far from rich. Living in a trailer.
I own gold
I enjoy the economic news and insight from Peter. However, I deplore his gold buggery.
Two questions: What is the return on investment in Gold over the last twenty years?
What is the return on investment over the last twenty years for any well governed large cap mutual fund?
Take your time.....I'll wait.
You're measuring returns in a fiat currency that has lost 90% of it's value. Gold is a hedge against inflation. Golds value in REAL TERMS roughly stays the same. Everything denominated in the dollar gets inflated due to government incompetence. Buying stock is a totally different investment.
Look into the fall of Rome to see how inflation helped destroy their society.
Actually pretty good. Gold was around 400/oz in 2003. now 2000/oz.
Gold has slightly outperformed the S&P500 index over the last 20 years.
Measuring gold in dollars will be nothing but a psychological high when you hear it said, but when the dollar isn't worth as much as firewood, then what difference will it make??😂😅😊
He didn't say anything new today's dollar already lost about 92% of since the 1950s.
When?
By 2035 one ounce gold= USD20,000
2024 ?
Let’s not get hasty it’s barely touching 2000 right now
Future value of gold is determined by world crisis, financial market crash, recession, dollar depletion, high demand of every country(government) storage activities and less supply chain on gold. Study the symptoms what’s going on at the moment and know the treatment my fellows.
@@benmarley3086
$2400
“Trillions of dollars will not buy an ounce of gold”
But, if an Oz of gold is now worth one month's mortgage payment, will it still get me the same thing if hyperinflation hits? Because gold going up to 10 fold means nothing if my bills go up 10 fold.
That's why is a store of value. where as if you had dollars you will drain your dollars 10 times faster then usual paying your bills
if gold goes that high and cash is worthless, what do you convert your gold into so you can buy a house?
u dont convert ur gold, use ur gold for the purchase
Whatever the currency is at that time
That’s why it’s important to know ratios and cycles
Get gold low and sell high (in terms of purchasing power)
Gold prices do not move since years. One would think they should considering the inflation of the past years. That means that gold actually lost value significantly.
Imagine how much a house will cost at that point
You said it would hit $5000 ten years ago. Still same price I bought it at back then.
That’s like 0.3 Bitcoin for an ounce of gold. No bad Peter.
Looking at Zimbabwean (2008), Argentine (1980s), German (1922-23), Hungarian (1946), and some hyperinflationary currencies, it does make me wonder about what would happen with stacks of Benjamins in that circumstance, as unlikely as it is. Heavy inflation will most likely happen. Don't wait to buy gold and silver; buy them and wait.
Even if gold skyrockets, someone has to be willing to pay its worth.
It would be lowball hell.
Why? That's the case with literally no other assets. The price is the price because people are paying it. That's what price discovery is.
He has been saying it since 2010. I swear he isn't tired of saying all these things. Every year he has been predicting a crash since 2010 and the prediction price of gold 20k.
all fiat currencies go to zero
Peter is right but he doesn't go into the idea of gold having to be repegged to commodities
Uncle Pete know his sh*t‼️
Dam uncle is always right‼️
But overall the gold dollar relation will be close. I'd gold goes up the dollar ia worth less. So when you want to sell since you can't live off gold you get less dollars or money.
Q. As of today Jan. 13th 2024 it's $42,299.50 😊
BRICS money back by gold ...buy gold now
PLATINUM should be at least 4000 an OZ if Gold is at 2000 an OZ.
Silver looks too similar to platinum
Can of beans > gold
Well the paper gold devaluing it, there is human manipulation.
How do you not get bitcoin?
I understand the potential catastrophic loss in value of dollars, especially at the rate we are now printing them, backed in nothing. But guys like Peter, Howard Ruff, Harry Brown, and others have been predicting an economic collapse since the late 1970s, hasn't happened yet. And if it does happen 50 years from now, I won't be alive to see it anyway.
The question is not just how long is that gonna take but also how likely is that to happen? If it takes 100 years, then what's the point thinking about it now when Amazon has a higher chance to reach 20k in 10 years? Lol. This guy is a broken record who banks on people's fear. Fear is a currency after all.
the DXY which is the dollar index is at about 100 down from 114 it might reach 80 and bottom out. If the fed raise 25 basis points it might hold steady at 100 it will fall if they start easing for sure because we buy all our imports from China
This guy is so full of it , he's NEVER right
If it does I’m cashing out.
No one believes you! Silver is down 20% ytd
Meanwhile gold keeps dropping. Broken watch as always
I have solid gold in my house
Gold and silver stacks might buy you a bloody house
🍨🧓How many men women children grandfather union night out eat rest, pick shovel wood barrel keather cotton shoe
🏕 100 lil' kg's out that rock
Amen
In devaluation terms the dollar is worth 1c.
Finally the end of US assertive dominance! Just loving it!
So you would rather see China be the most dominate nation in the world?
@@jhgolf25 multipolar world.. no single centre
@@siddarthshah1773 what does that have to do with assertive dominance?
A Legacy Shill. Keep hustling.
BTC
Who is going gold at that price?
Gold bugs losing fortunes over the decades of lost stock appreciations. The guy is wrong 95% of time. Gold is a hedge but only a commodity. Silver is the most under valued asset but if it appreciates who will buy at an highly inflated price. I agree with his economics but since government so interferes in the market the free market senario makes it unpredictable. It is his job to talk trash of American markets. Short term bonds is a good value too now.
Gold is about the same against s&p500 as it was in the 1960s, or in the early 2000s. You say "decades of lost stock appreciation" as if long-term performance of stock indeces looks like a hockey stick against gold. It doesn't: it's volatile, but not vertical. All the lost appreciation depends on when you bought either stocks ot gold.
@@bogdanlevi gold keeps its value in inflationary times. I think you can assume it appreciates at 3% per year. It depends on what stocks you bought and when you bought gold. Stocks appreciation is average 8% yearly. Gold involves little risk of loss over time but you must take calculated risk for higher returns. Stocks are what a person looks at to determine how well the economy does and the Fed is buying stocks too. Stocks I read go up 70% of the time and down 30% of time. Gold may be good in a diversified portfolio like 10% at most. If the worst economic senario happens I'd rather own real estate and food and other more used assets. Plus after you buy physical gold at a reasonable price your paying an appreciated price maybe 2/3 higher and try selling it your lucky to get 20% what you paid for it selling the asset. The 1970's people panicked and bought gold at a huge price appreciation only to lose their shirts a few years later. It is all timing I guess. Schiff is always telling people the US economy sucks and brags about predicting the 2007 financial crisis. However he always is predicting economic doom and eventually you be right but how many times his predictions were wrong? Most of the time. He and other catastrophist want their terrible portfolios to make money and America to collapse probably for personal reasons.
@@user-tz4nt4vx7m you don't have to assume those 3% and 8% yearly appreciation rates. These depend heavily on the timing for the base of calculation, and on the accuracy of inflation reporting.
You can instead find a 100-year chart of DOW/gold or S&P/gold. What you will see is that they have a similar kind of long-term returns. Maybe stocks somewhat better, but not by 5% a year: the chart would look completely different in that case, and stocks wouldn't be cheaper now than they were in 1960s (in gold terms).
Regarding Schiff, gold bugs and permabears. What matters is not how often you are right or wrong, what matters is what you hold and how well it does.
If you are a permabear and you sell the index short, you will lose all your money, that's granted. If you are a permabear and invest in other assets, you'll still be fine.
Whenever Schiff talks about his own investments, he never mentions being short the index. He buys non-US industrials and consumer essentials, non-US short-term bonds, gold and gold miners. These are all valid long-term investments, so he can afford to be wrong for 20 more years about the bubble and the dollar collapse without losing all his money.
Worst thing that can happen is he'll underperform the US megacaps by some amount.
peter is full of schiff.
🤣🤣🤣
Need to date him simple
Damn! this dude again?
so why not invest in toilet paper?
$10000 worth of toilet paper is going to take up your entire house and then some. It will spoil upon contact with water.
$10000 worth of gold can fit in your pockets, and almost can't spoil unless you put it in aqua regia or something.
The doom and gloom guy again. Do the opposite of what he says. Buy the dollar.
No chance will this be allowed to happen
Ask venezuela president
@@gabakusa ?
Keep dreaming.
Talkin to yourself?
There is a ceiling…. The mining cost. Gold mines would spit out more gold supply would go up to meet demand and bring the price back down closer to $1600 the current mining cost. That’s the floor. If Mining cost keep going up then gold will stop being produced supply drops price goes up.
Mining costs will be irrelevant if gold price shoots out. There will be a rush to mine gold then
Howz your crypto wealth folks. You lost 80%
From the peak and it was there for what a month or two? I think crypto is stupid but I hate when people act all told ya so cus something is off it’s high but still up big in just a few years
i rather invest in guns
Great Great Grandpa... UR repeating constantly same scaremongering since 1984... 👎
And we have seen tons of inflation since then...
Why don't he write another book?
he was wrong, destroyed his clients and has been accused of money laundering. No one would buy his book
@@4anewdeal190 People should do their own research and not take one man's opinion/advice. Sounds like it's their own fault but I guess it probably makes them feel better blaming someone else. 🤷♂️
@@4anewdeal190 his podcast regularly gets 10’s of thousands of views
This guy sells gold. Stop having itchy ears 😂
Bitcoin(Only 21 Million coins) >Gold (infinite Supply).
How is there infinite gold, the earth is finite, and no material is infinite. There could be infinite bitcoin because the owner of Bitcoin could just make more (inflation).
This dumbas.s has said 20k gold for 12 years
We will get hyperinflation 😅
But then why is he selling gold
What do you mean?
@@hunden8404
It means exactly what it said.
What is your point?
@@hunden8404 exactly what i pointed out.
He's not selling gold he owns, he's a broker, selling someone else's gold for a slim profit
Get this man a bitcoin
Okay let's go thru the process what you need to own a bitcoin ?you first need a gold chip that goes into a device that you need the gold chip powers it than you need electricity and than you need online access to trade it than you have your bitcoin? Did I miss anything there or lie about anything?
Interesting argument, I can argue similar nonsense for gold. Try stopping the government taking your gold, try moving millions worth of it without armed protection, also the performance of S&P 500 +23%, Nasdaq +13%, Gold -13%, Bonds -14%, Silver -29%. GOOG +54%, AAPL +43%, MSFT +34%, AMZN -14%, META -39%, NFLX -53%. Vs Bitcoin is +94% during the same period. The only reason to select gold over BTC is you hate profits 😂
Can’t eat gold bro
can't eat dollars either ?
Or bitcoin lol
You can shit bricks
he looks awful lol
Better than Michael saylor lol
Clown. Lol
I don't think his predictions have ever come true. He isn't the only one either.
Are you okay the man has been on point 100% reality takes time to develop illusions scams magical shit that means nothing is what your interested in good luck . What has he been wrong about the price not going up overnight like you want to .
2001 Dot Com Bubble and called the 2008 bubble in 2006 and was laughed at. He predicted cryptos to go to zero and they're well on their way. Aside from the largest bubbles in recent history he hasn't predicted anything.
He also predicted that this inflation we are going through would be called “transitory” by the fed while gaslighting the American people.