(Schiff)—Yesterday Peter joined Michael Gayed and Will Rhind on the Lead-Lag Report. They cover a variety of topics, including the future of the dollar, China’s role in the economy, the prospects of war in the Middle East, and gold’s path to a $3000 price point and beyond.
Early in the interview, Peter laments the possibility that the United States will decline economically. China is poised to surpass our economy as the dollar continues to weaken:
“I think the media is constantly writing China’s obituary. And I think they’ve got it wrong. Just like they downplay the significance of the problems in the US economy, they overplay the significance of the problems of the Chinese economy. I’m not saying it’s perfect over there in China. But I think they have a lot going for them that people are overlooking.”
Michael and Peter discuss the role of U.S. foreign policy– specifically having a military presence around the world– in driving up deficits and the debt:
“We’re all over the world. We’ve got our troops all over the world, but we can’t afford to deploy them. We can’t afford to provision them without borrowing money, and that is not sustainable. I mean, it’s going to crumble. I don’t think the world is going to pay an ever-increasing tribute to the United States to maintain this situation. I think it’s going to come to an end. Yes, it’s gone on for a long time, and our military has probably been part of what’s enabled it.”
With tension in the Middle East ratcheting up this week, Peter delivers a masterful explanation of why wars are terrible for the economy. The temptation to inflate combined with the physical destruction of productive goods mean wars inevitably impoverish all involved:
“You’re more likely to debase your currency with a war, and it’s actually twofold, depending on how big the war is. Wars can result in the destruction of goods, and there’s a destruction of productive capacity. So, you have less supply of goods in a war. A lot of times, if it’s a big war, you have to produce ammunition and military hardware at the expense of civilian consumer goods. So, wars tend to reduce the supply of consumer goods but increase the quantity of money. Governments today don’t want to pay for wars. They don’t want to tell the taxpayer, ‘We’re fighting a war, so we’re raising your taxes.’ … And they go out and borrow, creating bigger deficits. So, the Fed has to print more money.”
The trio also discusses Peter’s opinions on investments other than precious metals, including stocks and crypto. He argues that Bitcoin highlights the difference between large institutional investors and retail investors trying to cash in on a trend:
“Bitcoin peaked out in November 2021, and priced in gold, it’s almost 40% below that peak. Despite all that money spent, all that hype, all those ETFs in the market, all that institutional buying. So that tells you something. It tells you there’s a lot of people that have been selling their Bitcoin into all the hype. And I think the people selling Bitcoin are a lot smarter and know a lot more than the people who have been buying it.”
Peter is optimistic for the future of gold. With no end in sight for the Fed’s money printing, there’s a distinct possibility that gold’s price could increase by many multiples over the next couple of decades:
“I think the potential is much higher because we’re going to print so much money. We’re going to have so much inflation that the dollar is going to lose a lot of value, and you’re really going to need a lot of dollars to buy gold. If gold can go from $20 an ounce to $2,600 an ounce, it can go from $2,600 to $26,000, or even to $100,000. There’s no limit because, again, gold isn’t changing—it’s the value of the dollar that’s decreasing.”
Halfway through the interview, Peter also drops some trivia about his wife, Lauren. Did you know she both sang and acted in a 2022 Bruce Willis film? Check out the full recording (starting at 38:30) for the details!
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
Angry Leftists Plot to Tank Trump Economy by Not Spending Any Money Once He’s in Office
by The Gateway Pundit
Most people are expecting the economy to improve under Trump and these people don’t want that to happen, or at least don’t want Trump to get any credit for it. They would rather that people remain miserable than see Trump and the country do well. Breitbart News reports: Leftists Pledge…
Ohio Man Faces Prison Term for Laundering More Than $300 Million in Bitcoin
by The Epoch Times
Ohio-based Larry Dean Harmon has been sentenced to three years in prison for operating a cryptocurrency service used by criminals for laundering millions of dollars, according to the U.S. Department of Justice (DOJ). Harmon, 41, ran a Bitcoin mixer called Helix that was “highly sought after by online drug dealers…
Sabotage: Two Undersea Internet Cables Connecting Four NATO Nations Were Severed
by Publius
Many in the international community are claiming sabotage as the only viable explanation for two fiber optic internet cables in the Baltic Sea being severed less than 24-hours apart. Fingers are being pointed at Russia as one of the the cables connected NATO nations Germany and Finland. The latter was…
“Massive Breach”: T-Mobile Network Hacked by Chinese State Sponsored Intelligence
by Tyler Durden, Zero Hedge
(Zero Hedge)—Where’s John Legere in a pink t-shirt when you need him? Among the multiple stories over the last few weeks about Chinese intelligence and hackers either attempting to, or outright gaining access, to U.S. cell phone networks (with reports stating President Trump and his team were targeted), comes news…
Income Needed to Afford a Home Hits Record High in U.S. Cities
by Dallas Express
Owning a single-family home in the U.S. now requires an average annual income of $107,700, nearly double the income needed in 2019, according to a new report by Oxford Economics. This increase is attributed to soaring home prices and nearly doubled mortgage rates over the past five years, the New…
Senators Ask Cyber Review Board to Conduct Investigation on Chinese Hack Group
by The Epoch Times
A bipartisan group of senators has urged a federal review board to immediately begin an investigation into a Chinese hacking group’s attacks against the United States, according to a recent letter sent to Robert Silvers, undersecretary for policy at the Department of Homeland Security (DHS). Led by Sen. Eric Schmitt…
Russian Officials Believe That “NATO Has Gone to War With Russia”
by Michael Snyder
Editor’s Commentary: Before we get into the article and video below by Michael Snyder, I want to make an important note. I do not believe that Russia is in any condition to actually go to war with NATO. I also do not believe that Donald Trump is, in any way,…
‘That’s Not Helpful’: Harris Faulkner Slams Dem Guest After He Claims Americans Don’t Understand How Strong Economy Is
by Daily Caller
Fox News host Harris Faulkner called out a Democratic guest Monday after he claimed American voters didn’t understand that the economy was “strong.” President-elect Donald Trump defeated Vice President Kamala Harris, securing more than the 270 electoral votes necessary to win the presidency in the early morning of Nov. 6…
Global Propagandists Find Out: AP to Slash Staff by 8% as Major News Outlets Stop Buying Its Content
by JD Rucker
Everyone in legacy corporate media is struggling with the possible exception of Fox News. Following Donald Trump’s election victory, the writing on the wall that legacy media has been pretending wasn’t there became too bright to ignore. The people don’t trust the media. It’s not because of the Trump victory….
Trump to Declare a National Emergency to Conduct Mass Deportations
by Tyler Durden, Zero Hedge
(ZeroHedge)—President-elect Donald Trump confirmed Monday that he will declare a national emergency to carry out mass deportations. In response to Judicial Watch president Tom Fitton’s post on Truth Social that Trump was “prepared to declare a national emergency and will use military assets to reverse the Biden invasion through a…
Gov. Youngkin’s Executive Order Seeks to Address Virginia’s Housing Shortage
by Just The News
From now on, economic and housing development will be tied more closely together in Virginia, according to the latest executive order from the governor. Gov. Glenn Youngkin issued and announced Executive Order 42 in Thursday at the annual Virginia Governor’s Housing Conference. The order brings the commonwealth’s economic development and…
“Hopefully No More”: How Trump Appointments Could Sway the Balance of Power in the House
by Owen Klinsky, DCNF
(DCNF)—President-elect Donald Trump’s cabinet picks could temporarily jeopardize the GOP’s slim majority in the House of Representatives. The GOP has held on to control of the House, securing the 218 seats needed for a majority with five races still yet to be called, according to The Associated Press. However, Trump…
Ramaswamy Expects ‘Mass Reductions’ in Federal Government Under Trump
by Daily Wire
There will be “mass reductions” in the federal government under President-elect Donald Trump‘s second administration, Vivek Ramaswamy predicted this weekend. Ramaswamy, whom Trump picked to lead the brand new Department of Government Efficiency (DOGE) along with Elon Musk, spoke to Fox News anchor Maria Bartiromo on “Sunday Morning Futures” about…
Texas Again Breaks Its Own Jobs Records
by Bethany Blankley, The Center Square
(The Center Square)—Texas continues to break jobs records every month and October was no different. Texas again grew jobs at a faster annual rate than the national job growth rate over the year in October. It also set a new record high for the greatest number employed in the civilian…
Congresswoman Nancy Mace to File Resolution Banning New Trans Congressman From Women’s Restrooms
by JD Rucker
Despite all of the amazing victories the GOP had on Election Day in the ongoing battle against wokeness, there was one conspicuous loss. Delaware elected “Sarah” McBride (born “Tim”) as the first trans member of Congress. Congresswoman Nancy Mace is calling on her GOP colleagues to pass a resolution banning…
