Schiff on Commodity Culture: Silver and Gold Are Poised to Soar

Peter joined the Commodity Culture podcast on Friday to walk through recent moves in precious metals and explain why he thinks inflationary pressure is returning to the market. He ties silver and gold action to what he calls a de facto return to quantitative easing, warns that politicized central banking will make matters worse, and even offers a glimpse of how AI and robotics could reshape labor and production.

He starts with silver’s technical breakout and why that matters for price floors and the next leg up in metals markets:

But once we broke above that $50 double top, I think that set a new floor for silver. I doubt silver is going to go even back down to $50. I think that we’re headed significantly higher. We’re trying to maybe find a new trading range in here before we have another leg up. But I think the catalyst for the recent move was not only the Fed rate cut, but basically what amounts to the return to quantitative easing, even though the Fed is not admitting it.

Peter sees the Fed’s recent moves as effectively adding liquidity again, and he warns that the inflationary consequences will be real even if officials avoid the label. He explains why past QE boosted spending and asset prices, but argues this time foreign demand for U.S. debt may not be there to cushion the fallout: