Schiff w/ Diesen: Gold Is Headed Much Higher  

On his latest appearance with Glenn Diesen, Peter lays out a sober case for why investors should consider gold as a primary hedge against a coming dollar and sovereign debt crisis. He walks through what he sees as the consequences of prolonged credit expansion, a bloated housing market, misdirected trade and military policies, and the political fallout that could follow.

He begins with a big-picture forecast for gold and the deeper reasons behind it:

But at this point though, I think gold is going a lot higher than 5,000. And that’s because between then and now, the problems that led me to believe that we’d have $5,000 gold are much bigger. We were able to kick the can down the road for over a decade, but in doing that, all of the problems got much worse. So, unfortunately, now I think it’s going to be a much bigger economic crisis. I think we’re going to have a dollar and a sovereign debt crisis.

Peter warns that the apparent wealth in housing is mostly a paper illusion if buyers cannot actually afford homes, and he criticizes policies aimed at inflating that illusion: