Schiff on Fox Business: Gold Soars as the Dollar Falters

Yesterday Peter joined Fox Business to lay out a stark view of where the U.S. economy is headed and why gold and silver are sending a warning signal. He connects a weakening dollar, rising consumer unease, and runaway deficits to an American-only financial crisis, and urges investors to consider precious metals and mining stocks as hedges against policy-driven risk.

He opens by noting that the real problem isn’t a temporary government shutdown but that Washington keeps running up promises and liabilities, and that markets are already reacting to that reality:

First of all, the problem with the government is not that it might shut down, but that it’s going to continue to operate. The U.S. government is the biggest reason that gold is at a new all-time record high. The dollar today, the dollar index is at a four-year low against the Swiss franc. The U.S. dollar is at an all-time record low today. Consumer confidence just plunged to a 12-year low.

Peter compares today’s signals from gold and silver to the red flags that appeared before the 2008 crisis, arguing that mainstream voices missed the buildup then and are missing it now: