Peter Schiff: A Weak Dollar Means Higher Prices

On Thursday’s episode of The Peter Schiff Show, Peter covers a range of market signals that, in his view, point toward rising prices and constitute even more reason to use sound money. He highlights strength in gold, a sharp bounce in oil, and the economic forces he believes will push the dollar lower: runaway federal debt, swelling trade deficits, and tariff policies that ultimately tax American consumers.  

He opens by pointing out that precious metals are attracting buyers again and that oil is flashing real warning signs for inflation and broader price pressure:

We are back above $5,000. Gold last time I did a podcast on Tuesday we were back below; in fact we were below $4,900, we got to $4,880, but what I’ve been saying is that any dip below $5,000 you just got to buy it because $5,000 is really the support. … Oil hit a new six month high today, it’s trading above 66 and a half dollars a barrel; we’re now up about 21% from where we were at the lows in mid-December. So less than two months, 21%.

He links the likely further rise in oil to a weaker dollar and says U.S. fiscal policy — namely explosive debt growth — is a primary cause: