Peter Schiff: Silver Is the Big Story

On Thursday’s episode of the Peter Schiff Show, Peter lays out why precious metals are taking center stage while fiat currency policy unravels. He walks through surging silver prices, rising unemployment and shrinking manufacturing, a return to quantitative easing, the political choice for the next Fed chair, and an imminent crypto crash — all reasons he gives for moving into gold, silver, and international assets.

He opens by flagging silver as the breakout story and explains why he expects more volatility and upside in the near term:

But you know the big story, I think, this week is silver, and we’ll see what happens tomorrow. Tomorrow could be another big day. I think we’ve got an option expiration coming up, but silver prices hit sixty-six dollars and I think 77 cents, almost sixty-eight dollars. … We just broke through fifty. Now, if you recall from what I was saying on my podcasts, I said that I expected silver to take out fifty because that was the big double top, and that once it did I thought we would have a quick move up to a hundred.

He contrasts the flashy political rhetoric about the labor market with what he sees in recent data, noting the rising unemployment rate and contracting factory payrolls: