Schiff w/ Horowitz: Gold Is Being Targeted

Last week, in his second recent interview with Daniel Horowitz, Peter lays out a broad critique of today’s economic policy and market behavior. He centers the conversation on what he sees as a coordinated attempt to suppress precious metals, then ties that theme to the bigger-picture issues of stagflation, dollar debasement, tariffs, shifting debt strategy, and the overhyped crypto industry. 

He opens by accusing policymakers of actively moving against gold and silver prices, and even points a finger at the Trump administration for getting nervous about a fast rise in metals prices:

I think there was a coordinated attack on the metals. And I think the Trump administration was involved. I think they were getting very nervous about the implications of gold and silver prices rising that rapidly, and what it might portend for the dollar, for the bond market. And I think they needed to do something. And I think that they recognized that one of the problems was the perception of a loss of independence of the Fed, and that the new Fed governor would really be a puppet of Trump. 

Next he explains why rising prices can coexist with a weak economy — the classic stagflation scenario — and why production matters for price levels: