Peter Schiff, Head of SchiffGold.com, back-engineers the imminent crisis facing the global economy, offering the ideal panacea of precious metals and specific mining shares.
- Tesla (TSLA) gapped higher this week on key AI news.
- PMs mining shares represent a solid investment, up to 10x is possible in the coming years.
- Investors will recognize the risk of inflation, slowly and one-by-one.
- The public knows inflation is a lot higher, because it's obvious when they go to the store.
- Evidence of early runaway inflation: product prices are increasing as portion sizes decline.
- We are already in stagflation because growth is already lower than reported. We are in a contraction. There's an understatement of how high inflation is.
- You fix economic problems by shrinking the government and reign in the Fed. You have to allow free market forces to re-enter the marketplace and restore balance to savings and investment, to production and consumption. I don't see signs we will do the right thing until there is a massive crisis.
- The danger is the government will blame the economic crisis on capitalism and the government will make the case for more government controls.
- The domestic economic patient will eventually succumb to Fiscal profligacy.
- Our guest suggests that Fed inflation fighting, rate-hikes will fail to contain inflation.
- Hyperinflation remains one possible outcome.
Check out Peter Schiff's list of favorite gold companies:
Europac Gold Fund (EPGFX) - Top 10 Holdings
Osisko Gold Royalties Ltd 6.48%
Franco-Nevada Corp 5.59%
OceanaGold Corp 5.58%
Agnico Eagle Mines Ltd 5.29%
Fortuna Silver Mines Inc 5.09%
Royal Gold Inc 5.01%
B2Gold Corp 4.93%
Barrick Gold Corp 4.87%
Pan American Silver Corp 4.56%