Schiff on Golf Cart Chronicles: The Dollar Is Starting a Tough Decade

Last week, Peter joined Matt on Golf Cart Chronicles to warn listeners that the decline of the dollar and a targeted hit on the precious metals market signal big shifts ahead. He argues the recent market actions were not random, predicts a long period of weak dollar performance and higher interest rates, and urges advisors and investors to rethink exposure to “fake assets” like speculative cryptocurrencies.  

He begins by calling the recent decline in the metals market an intentional political intervention, not an accident, and explains why policymakers felt pressure to act:

I don’t think it was just a random event. I think it was an orchestrated attack. I think the Trump administration was rightly concerned about the message that was being sent in the precious metals market when gold was, you know, over 5,500, silver was 120 dollars an ounce. This was a massive vote of no confidence in the Trump administration, the Fed, in the US dollar and the economy and our ability to manage our finances, and I think they needed to do something to kind of diffuse that bomb before it exploded.

From there he pivots to investment strategy: he insists U.S. investors should be shifting away from dollar-denominated risk and into defensive positions because the world is moving out of the dollar and U.S. assets: