Is the Money in Your Pocket Counterfeit? - Ep 962

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 23 May 2024

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

During an unexpected podcast episode from The Bahamas, Peter Schiff discusses the significant breakout in silver prices, reaching the highest since 2013, and the new record highs in gold. He elaborates on central banks' preference for gold over silver and the retail selling trend, emphasizing an opportunity to buy both metals after a correction. Schiff points out the ineffectiveness of the Fed's statements and actions on the true value of gold and silver, suggesting that prices will rise regardless of rate cuts. He uses historical experiences and the transition from real silver coins to nickel-clad copper as an example of government devaluation of currency. Schiff highlights the potential in buying physical silver, especially 'junk silver', for its barter value and the current low premiums as an investment opportunity. He also touches on the importance of investing in gold and silver mining stocks, recommending professional guidance for navigating the sector.

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Transcript

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0:00.0	The Peter Shift Show
0:09.0	Today's podcast is sponsored by Net Suite,
0:11.3	the easy to use cloud-based business management software for every aspect of your business.
0:16.6	By popular demand, NetSuite has extended its one-of-a-kind flexible finance program for a few more weeks.
0:22.6	Head to Net Suite.com
0:24.3	slash gold.
0:25.3	Today's podcast is also sponsored by Masterclass.
0:28.5	Learn from the best to become your best with Masterclass.
0:31.5	And right now our listeners will get an additional 15% off an annual
0:35.8	membership at masterclass.com slash gold.
0:38.9	Good evening everybody you know I wasn't expecting to do a podcast tonight. I'm here in the Bahamas. I'm at the
0:47.5	Atlantis Hotel just on a short vacation with the family en route back to Connecticut from Puerto Rico.
0:56.7	We stopped here for a few days.
0:59.5	I did my last podcast from Puerto Rico on Thursday and the day after that
1:06.7	podcast silver and gold had a big move up particularly silver. Silver really broke out.
1:14.4	It was up almost $2 I think on the day.
1:18.8	And it didn't just close above 30,
1:21.2	which was a level that silver had not traded above. close above since 2013 but we got it we close above on that we close them up 31 on that day and in fact on Sunday night we spiked again and we got as
1:39.7	highest 32 dollars and 50 cents in the price of silver.
1:44.1	Gold, which did not set a record high on that Friday,
1:49.8	set a new record high on Sunday night and then another new record high on Monday.
1:57.4	We got above 2,454 for the price of gold.
	...

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