Schiff on Coinage: Gold Is Heading to $7,000

Last week, Peter joined Zach Guzman on the Coinage YouTube channel to lay out why he thinks the monetary order is shifting away from the dollar and back toward real money. He walks listeners through his own vindication, the role of central banks and big investors in the pivot to gold, and how tokenized gold can give people a practical, digital way to own sound money. Throughout he frames the debate as one about policy incentives, wealth distribution, and the loss of confidence in fiat.

He begins by admitting that being right about market risk is a mixed blessing for a free-market investor and advisor, because it often means broader economic pain for others:

The entire time that I have been preparing for an economic disaster, I have advocated for policies that would either mitigate or prevent that disaster from happening, despite the fact that I was betting that it would. That’s why I tell my clients, recognize that, yes, it’s good that we’re right and we’re making money, but it’s not really something that you want to celebrate because we’re really celebrating an economic disaster.

Turning to the big-picture drivers, Peter leans on Ray Dalio’s observation about a changing reserve system and interprets it as foreign central banks moving out of dollars and into real money: