Schiff w/ Lutz: Gold Signals a Dollar Crisis

On a recent appearance on Kerry Lutz’s Financial Survival Network, Peter lays out the evidence: the dollar is under pressure and gold is flashing a warning. He walks listeners through why past policy choices have amplified the coming crisis, who stands to lose the most, and how to position for what he sees as an inevitable reordering of global finance.

Peter starts by explaining how years of kicking the can down the road have magnified the damage, and why current gold levels are no ordinary market move but a signal of systemic dollar weakness:

But all that can-kicking allowed all the problems to get much worse. And so now, when I was talking about $5,000 gold back then, I mean, $5,000 gold could be this year, very easily. But I mean, at a minimum now, probably we’re looking at $20,000 gold because of all of the money that has been printed and all the money that’s going to be printed, which is why people have to look at what’s happening and protect themselves. A lot of people, I think, are going to get wiped out in this dollar crisis, which I think gold is signaling a dollar crisis.  

He points out that central bankers themselves have used gold as a check on policy in the past, and he asks what today’s much higher gold price is telling us about the Federal Reserve’s stance: