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- [00:00]
Peter Schiff
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It was a big day and a volatile day today with the precious metals, in fact the most volatility really of any market. Following the Supreme Court's highly anticipated yet pretty much foregone conclusion decision rendering Trump's tariffs unconstitutional, the Supreme Court basically upheld the lower court's ruling. Now the moment Trump proposed or imposed rather these tariffs, I immediately said that they were unconstitutional and I'm surprised that the decision was 6 to 3. It should have been 9 to 0. But you had three highly partisan justices and I lost some respect for these justices today, particularly Clarence Thomas, cuz he had had some pretty good decisions in the past. Look, just because the President is a Republican and you lean Republican doesn't mean you're supposed to decide a case in his favor. You're supposed to defend the Constitution, not support the political party of your affiliation. But in any event, this was an expected decision and the biggest reaction in the markets was in precious metals. Now gold was already up about 50 bucks before the news broke. Silver was up about 2 bucks immediately following the decision. Gold lost its entire gain. It sold off to down a few bucks. Silver never really rent, negative, but it lost most of its gains. Didn't know why, didn't make any sense. And none of the other markets really reacted much at all. Then gold and silver came roaring back. And as I'm recording this, it's about, you know, 4:45 East coast time. Gold's up $102 an ounce. It's almost back at 5,100. It's a strong gain now on the week, you know, up better than a hundred dollars on the week. Silver is up almost six bucks. It's trading at 84 28. That's up 586. So silver's got a 7.5% gain. Big move. I mean, gold's 2% gain is not that shabby either. I mean, none of the markets had this big a reaction to Trump's or to the Supreme Court's decision. Now before we got that decision, we got a lot of bad economic news that should have been very good for gold and silver. And I'm actually surprised that gold and silver didn't move even more because gold was up about 50 bucks before all this Bad economic data came out that should have caused gold to rally, but it didn't. Now, my guess is we're going to have a delayed reaction to the gold and silver, to this news in gold and silver next week, which is why you should buy this week. Now, I know a week ago I told people to just go to the SHIFT Gold website and buy gold and silver. Don't wait for Monday or Tuesday. I thought it would be cheaper to buy over the weekend, and it turned out I was wrong. You would have got a better buy had you waited for Monday. But doesn't matter if you bought last weekend, you're still ahead. You're still, you know, at least a hundred dollars ahead on Gold and 6,7 bucks ahead on silver. So it didn't matter even if you missed out on a better buy on Monday. But I think that's gonna be the exception, not the rule. In general, I expect a lot of strength over the weekend, and I think when the Asian markets open Sunday night and react not only to the tariff news, but to the bad economic news, which I'm gonna get to in a moment, I think you're gonna see big rallies. So once again, I would not wait for Monday. After you finish listening to or watching this market wrap, if you're, you know, you got extra cash, buy some more gold and silver, whether for physical delivery at SHIFT Gold or go to T Gold and we'll store it for you. And I'm still building out the T Gold platform, but you can still lock up your gold and silver right now and have it and get these prices before we go higher. Now, first of all, you know, Donald Trump delivered a message to the country after the Supreme Court struck down his tariffs, basically saying, this is terrible for the country. You know, the Supreme Court is harming America by, you know, getting rid of these great tariffs that are making us rich and are, you know, made America great again and all this nonsense. The tariffs are not making us rich. We pay the tariffs. We can't enrich ourselves by taxing ourselves. But the tariffs are not even helping our trade, our trade deficits. And I went over those on my last podcast, which I did yesterday, so I'm not going to repeat that. Go back and listen to that. That's the podcast on my main channel, Peter Schiff YouTube channel. But our trade deficits are not getting better. In fact, they're about to get. The Supreme Court did not harm the country by validating the lower court's ruling. In fact, not only does this help the country, but it helps restore or preserve some constitutional limitations on presidential power, which is a good thing. Even if you really like what Trump is doing, you may not like what the next socialist president does. And any power that Trump usurps is wielded by whoever succeeds him. And the person who succeeds him may do stuff that you really don't like. So it's a good thing. Even if you think Trump's tariffs are good, they need to be enacted by Congress, not by the president. Because if Trump can enact these tariffs, who knows what President AOC might be able to enact by relying on the same BS authority that Trump relies on. But anyway, Trump said, okay, even though the Supreme Court has thrown out these tariffs, he's imposing new tariffs based on some other authority that he claims he has. And I checked the statute. It's from 1974, where the president can enact an emergency and temporary. I wrote it down a temporary tariff of up to 15%, and it lasts for 150 days, so he can't do it permanently. And he imposed 10%, so not the max. He could go up to 15, I guess, but not the type of crazy 50, 100% tariffs he was throwing out before. But I read the statute, and it has to do with emergencies, and clearly we are not in one. The type of emergency that the statute was written about doesn't exist. You know, it's about an imminent collapse of the dollar, which, you know, I actually think there could be an eminent collapse of the dollar, but nobody is worried about that. So it's not like the dollar is tanking. And it has to do with, you know, an emergency, like a big increase in our trade deficits that threatens the dollar. But our trade deficits are the same as they've been for the last 10, 20 years. I mean, yeah, they've been growing, but it's hard to say that what happens now constitutes some kind of new emergency that would trigger this authority. But even if that's the case, these are temporary tariffs, and he can't put them in. And then when they go away, reimpose them and reimpose them and reimpose them. He could do it once. And so, you know, he can't try to reshape global trade with these temporary tariffs, no matter what he wants to pretend. So most countries now or Americans are gonna get some relief here because the tariffs are gonna go down on most of the products that are being imported. In the meantime, the government needs to refund all the money that it collected under the unconstitutional tariffs. Now, the Supreme Court didn't actually address this issue. But it's clear if the tariffs were imposed illegally, then whoever paid them gets their money back. I mean, that's just the way it is. Whether the Trump administration wants to voluntarily give it back or wait for the people who pay the tariffs to win their lawsuits, they could do that. But the money is going to have to get refunded, no matter how you look at it. Now, of course, unfortunately, the poor consumer doesn't get anything because it's only refunded to the person who paid the tariffs, which in most cases was the business. The importer. Yes, he passed it on to the consumer by raising prices. But if you paid a higher price because the importer paid a tariff, the importer's not gonna give you a refund, even if the importer himself gets a refund. It just means that going forward, he won't have to charge you as much if he's not gonna pay the same tariffs in the future. Now, if you're a consumer who directly paid a tariff, you imported something yourself, I know a lot of people that got hit with huge tariffs on expensive things that they imported themselves. So now they could file and they could get refunds of those tariffs. But the big problem is that the tariffs were at least providing the US Government with revenue. Now, the source of the revenue was Americans. The revenue wasn't coming from China or Canada or Mexico. That's just another one of Trump's lies. The taxes were being paid by Americans, but at least the taxes were being collected by the government. So the taxes were somewhat mitigating the exploding deficits, but they were exploding anyway. Now they're just gonna be even bigger. There was some offset of the big beautiful bill because that increased the deficits I mentioned on the podcast yesterday. National debt's up 2.6 trillion in Trump's first year in office, and the second year is gonna be even worse. But the fact that the tariff revenue is no longer there and that past tariff revenue needs to be refunded is going to make the deficits even bigger. Now, yes, he's gonna collect these 10% tariffs for a while, but that's not as much as he was getting before. And again, they're unconstitutional, too. Trump has nothing but contempt for the Constitution. See, he thinks if he wants to do something, then it's good for the country, and the Supreme Court shouldn't stand in his way. Anything that he wants to do that's unconstitutional. It's absolutely the responsibility of the Supreme Court to stand his way, even if it's good what he's trying to do. But as it so happens, what he is doing is not good. And the proof is in the pudding. Look at the numbers. Trump is out there talking about how we have the hottest economy in the world, right? And nothing can be further from the truth. And one of the reasons he thinks our economy is so hot is because The Dow hit 50,000. Now it's not even at 50,000 anymore. It's like 49,200. But he keeps talking about how amazing it is that The Dow hit 50,000 and it only took a year from when he started his presidency. He says nobody believed this could happen in a year. People thought it would take four years, and I did it in one. The Dow is up 12%. 12% since he was sworn in. I mean, okay, 12%. I mean, that's something, but it's not a miracle. It's a lot less than the increase in the Dow the first year Biden was president. So does that mean Biden was a great president? Did we have a hot economy under Biden? Because the Dow did a lot better during Biden's first year than it did during Trump's. And in fact, since Trump's been elected,
- [15:38]
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- [16:11]
Peter Schiff
if you're early in your career and looking for insight, inspiration, and honest advice, listen to the Capital Ideas podcast. Hear from Capital Group professionals about leaning into the differences that make you unique, making decisions that last, and what it means to lead with purpose. The Capital Ideas Podcast from Capital Group. Available wherever you listen. Published by Capital Client Group Inc.
- [16:38]
RingCentral AI / Advertiser
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- [17:40]
Peter Schiff
Just about every single stock market in the world has done way better than the Dow. I mean double, triple, I mean it's not even close. The US has been one of the worst performing stock markets in the world since Trump took office. So if you're going to measure how hot an economy is by its stock market, how do we have the hottest economy in the world when we have the coldest stock market in the world? Clearly we don't. But, but look at the other economic data that came out today. Worst that you could get because the data on the economy was much weaker than expected and the data on inflation was much stronger. The opposite of what you would want. So we got the GDP numbers and this is for a Q4, 2025, so last quarter and everybody, all the people on the right are claiming that we've got this great booming economy because we have all this GDP growth. They keep talking about 5% GDP growth. It ain't even close to that now. Yes, last year, last quarter, rather we got 4.4%. And if you remember, I said I don't believe these numbers. It's a one off thing. Just wait until we get some more data. Well, the consensus was for a slowdown in Q4 to 2.8%. We got 1.4, 1.4. That's it. That is half of what was expected. But think about the slowdown. Three full percentage points, quarter over quarter. The economy went from 4.4% growth rate to 1.4 in one quarter. So if the economy was hot, it's cooling off super fast right now. The only thing that came out as expected was personal consumption at 2.4, which is all driven by inflation, I think. But even that was a big Decline from the 3.5 in the prior quarter. So this is week economic data. The economy is barely growing. And again, I don't even believe the data anyway. I think the inflation numbers are being understated. I think prices are rising much more than the GDP deflator Recognizes. And so I don't think the economy grew by 1.4%. I think it grew by less. In fact, it may have even contracted. If we had honest inflation numbers in that report, it's possible that GDP fell for the quarter. Now we got more economic data on inflation. Personal income and spending numbers came out pretty much in line with expectations. Personal income up 0.3 on the month and spending up 0.4. Right. So savings rate slipped a little bit, but. But nothing out of the ordinary. Look at the pce, the Personal Consumption Expenditure Index. This is supposedly the Fed's favorite way to measure inflation. Right? Now it was supposed to rise by 0.3 in December. It rose at 0.4. And not only did it rise more than expected, but the increase was double the increase from November, 0.2. Now remember, if you annualize 0.4, assuming that we had the PCE going up 0.4 every month like it did in December, that's 5% inflation. 5%. The Fed's target is 2. And we're, you know, now we're annualizing at 5. Now, I know it's just one month, but maybe it's one month that means something. Maybe this is gonna be repeated. The Fed is talking about cutting rates. Now, I know we got the minutes of the FOMC minutes earlier in the week. I never commented on my last podcast, I forgot to talk about the minutes. So I'll address them here. But in the minutes, there's basically three camps. You've got really the doves, or I mean, they're all doves, right? It's just a degree. But you got the camp that wants to cut rates, the camp that kind of wants to leave rates where they are for a while because they're not really sure. And then you have the camp that thinks that maybe we have to raise rates, they're not sure. They're not saying that we should raise rates, but they're saying that we need to leave open the possibility that we might have to. Right. The other two camps don't even think rate hikes should be discussed as a possibility. And then you have a third that think we should at least discuss the possibility that we might have to raise rates. The reality is they need to raise rates. That's obvious. Inflation is much too high and it's gonna go higher and higher the longer they refrain from raising rates. And in fact, talking about rate cuts on its own is fueling this fire. So if you look at the PCE on a year over year basis, it rose 2.9 so not 5% but 2.9. And what's more important is that in November it was 2.7, and so now it's 2.9. So it's going in the wrong direction. We're well above two and going up. We're not above two and coming down. We're above two and going up. But it gets worse when you look at the core, because the Fed likes the core better. That's their, their favorite measure is the core. And by the way, not only did headline pce go up 0.4 on the month, so did the core. The core was up 0.42. That annualizes again 5%. Big number. But the year over year core is now 3% and rising because last month, November, the year over year increase was 2.8. So 2.8 was still above 2, but now we're further above 2, we're at 3, we're an entire handle above 2. 50%. How is the Fed going to look at their favorite inflation indicator, the core PCE running 50% above their target and they're talking about cutting rates. How do you do that if that is your goal? Hey, we have a target of 2%. Okay, well, we're, we're way above your target and we're heading higher. What are you going to do? The Fed is losing all of its inflation fighting credibility because they're worried about the weak economy. And we have a weak economy despite what Trump says. And it's going to get a lot weaker. And the problem is inflation is going to weaken the economy. It's stagflation. That's what we've got. And the longer the Fed drags its feet on hiking rates, the more inflation we're gonna get, which means the weaker the economy is going to get. And in fact, we got some, you know, more economic data today. We got the PMI Composite index, which came out weaker than expected, is still above 50, but it's heading in, in, in the wrong direction. Manufacturing at 51.2. It was 52.4 the prior month. And the services weakened too, from 52.7 to 52.3. And consumer confidence for February, that also inched lower. It was at 57.3 last month and now it's at 56.6. So consumers get a little bit more worried. Of course, they need to be a lot more worried. They have no idea how bad things are about to get. The year over year inflation expectations cooled a bit from 3.5 to 3.4, but they're still expecting 3.4% inflation. Now, you know, the Fed keeps saying that inflation expectations are well anchored at 2%. Where who the hell expects 2% inflation? Just the Fed, nobody else. But the reality is, I think that the consumer is closer to being right than the Fed, but I think he is likely still understating it. By the way, as I'm watching, you know, the gold and silver prices are still adjusting. Gold is now up $110. We're above 51. We're at 5105. And silver's up over six bucks now. Six dollars and nine cents. We're at 84, 50 on, on silver. I mean, what are these percentage, the percentage gains here now on the day? Gold's up 2 and a 2 and a quarter percent and silver is up 7.8%, almost 8% on, on the day. And nobody's talking about it. You know, I was watching the financial news again all day as they're covering the reaction to the news on the tariffs. Nobody talked about precious metals. And that's where you had a big move. Yeah, the dollar was a little weaker. Bonds were a little weaker. Stock market went up a little bit. You know what did? Nothing. Bitcoin. Right. Bitcoin is still 67,700. Yeah, it was up like 1 1.3% on the day. Not as much as gold was up. It was up, but it was, you know, it's still nowhere. It's still below 70,000. It's still below the 69,000 peak that it hit in November of 2021. Right. And the media is still fascinated with this crypto bubble. They don't even realize that it's popped and all the air is about to come out and all their viewers are about to get wiped out, but that's what's gonna happen. And again, if you're still holding bitcoin, do yourself a favor and sell it this weekend. You know, you're lucky that it hasn't already, you know, dropped through the floor. I don't know what's taking it so long. Look at a chart. Zoom out. Always. Crypto guys are always telling me to zoom out. Well, zoom out. It's ugly. Yes, there was a big rise, but it's crashing now. Look at, look, look at what it looks like on a chart. And you tell me that that's not going to keep falling. Look, If Bitcoin breaks 50,000, which seems like a high probability event to me, you look at that chart, there's nothing that's going to stop it from going to 20,000. So, I mean, why ride it down to 20,000. I mean if, I mean if you have to, you could buy it back down there. I wouldn't. But you know, get out now. Get into some gold and silver. We make it easy at shift gold with bitpay. I mean, you know, you can easily sell your bitcoin and get some gold or silver. And you know, we're not gonna stop at 20,000. I mean, maybe around 20,000. Maybe there'll be a bounce, maybe it'll go back up to 30,000. Everybody'd be excited. Oh, we're going to the moon. Then the next thing you know we're gonna be 10,000. And you know, every time bitcoin makes a new high, they say the same thing. Well, the volatility is a thing of the past. You don't have to worry about the big drops anymore. It's been de risked now. It's less risky to buy it now because all the institutions are in, the government is in. So you don't have to worry about big 50, 60, 70, 80% drops. Those were in the past when it was a new asset, but now it's matured. You know, it's deciding where to grow or move. Your business can be full of unexpected delays. Or you could just go to Ohio. With billions invested in shovel ready sites, a dedicated team whose only job is to tackle red tape and 0% corporate income tax, Ohio makes it easy for your business to scale faster. In fact, Ohio ranked number two in the US for lowest cost of doing business multiple years in a row. Your move. Learn more@jobsohio.com when cold weather hits, many of us keep our home sealed up tight for warmth. But that also traps dust, pet dander and chemicals inside, making breathing harder for people with asthma or copd. The American Lung Association's Oregon Clean Air at Home program can help. Eligible households will receive free cleaning supplies worth up to $300. And some may even qualify for an air cleaner, vacuum or essential home repairs to reduce indoor air pollution. Create a healthier home during the cold months. Learn more and enroll at lung.org or-home-visit broadened out, it's got more adoption. So you know it's not going to drop like that. And then when it has a big drop, 50, 60, 70%, they go back and say, well, you know, that's bitcoin. That's how it is. You know, volatility is a feature, not a bug. You know, this is what's so great about bitcoin is that it can collapse at any moment. I mean, you Laugh. They talk about the fact that bitcoin crashes a lot and that's what makes it so great. The fact that it crashes and you lose most of your money. No, that's not what makes it great. And you know what? Just because something crashes four, five, six times in the past and comes back doesn't mean that the next time it crashes, it's guaranteed to come back. It may just keep crashing and never come back. And of course, that is what is going to happen. And people have to be asking themselves, with all of this good news, with a bitcoin president and a bitcoin cabinet and a bitcoin strategic reserve and all this favorable legislation, with all these bitcoin treasury companies, microstrategy, a strategy, and all of those copycat companies, with all of the big Wall street banks having crypto Bitcoin ETFs, right, you couldn't have asked for more good news for bitcoin. With all of this and bitcoin is down 50%, what does that tell you? If you've got all the good news you can possibly have and the market is cut in half anyway, it's over. The people in bitcoin that are still hodling, you know, they're in denial. You know, they got their diamond hands and they think they're doing the right thing because they're not selling. You guys are a bunch of patsies. You are bag holders. And, you know, I don't know how much time you have left here, not that much. But sell and get yourself some real gold and silver. Get out of the fool's gold and get into the real thing. And even if you're down, even if your average price on Your Bitcoin is 70,000, 80,000, 100,000, I don't care, take a loss, get out. Because if you don't take the small loss, you're going to end up with a bigger loss. You can still make your money back. You can make it back in gold and silver. You don't have to lose more in bitcoin. And remember, the longer you hold bitcoin, the more you miss out on gold and silver. If you bought Bitcoin at 69,000 in 2021 and now you still own it at 67,000, 68,000, you think, well, I'm not down too much, I'm only down a few percent. No, because what if you'd have bought gold or silver, you'd have doubled your money. So you're down a lot. It's not just what you lost in bitcoin. But what you didn't gain by investing in something else, anything else, because just about anything did better than Bitcoin. But if the purpose of buying Bitcoin was to have a hedge against inflation, you should have bought gold and silver. Well, it's not too late. You can still buy it. So I get, I expect there to be a bigger reaction to what's going on. I mean, it shows me that Trump is trying to do things that are illegal. I think that confidence is being lost in the administration. The lies that are being told about how great the economy is, how strong the economy is, are being exposed as exactly that. The data belies. All of this talk about how hot our economy is, how strong our economy is, it's not. And it's only going to weaken, especially as the dollar really rolls over, as that spills into the bond market and long term rates start to back up and the Fed is really forced to start printing even more money. That is exactly what's gonna happen. And Trump again today reiterated his false claim that the world has been ripping us off, that they've been screwing us over and that they need to be punished. What exactly have they been doing? They have been supplying America with goods that we can't produce, that we don't have. The factories and the infrastructure and the supply chains. We can't build these goods ourselves. And if it wasn't for the rest of the world, we wouldn't have them. So the world supplies us with stuff that we can't produce at low prices. So our lives are improved because the world is ripping us off. What does the world get? All the people who are ripping us off, what do they get out of the deal? Well, we print up money and give it to them. Cost us nothing. Created out of thin air. And the world just takes our IOUs. So we import their stuff and they import our inflation. We export inflation, we import goods. If the world stops ripping us off, what's going to happen? Well, we're not going to get the goods anymore and we're going to be stuck with the inflation. So we're gonna have a country with empty shelves and sky high prices and lots of people are gonna be unemployed. Because if there's nothing to buy because we can't afford anything and nothing is here, then all the FedEx jobs and the UPS jobs, those are our biggest employers. All they do is move around the stuff that we import. Well, if we can't import anything anymore, well, there's no, we don't need all these delivery trucks. The other big employers Are Walmart and Amazon. Well, what do people buy at Walmart and Amazon? All these things that we got imported, all the things, you know we're being ripped off. And because we're being ripped off, there's all kinds of stuff that we could buy at Amazon and Walmart. Well, when the world stops ripping us off, well, there's nothing left for us to buy. And so if Walmart and Amazon, if they're not selling stuff anymore, they don't need all these workers. So not only do we have sky high prices, but we have soaring unemployment. That's what happens when the world stops ripping us off. But what happens to the world? The world's going to have an economic boom. The world gets to keep all their stuff, all those consumer goods that they were shipping to America, they get to keep those goods, they get to enjoy those goods, they get to consume those goods better for them. Right? We miss out, but now they get the fruits of their labor. And what happens to their savings that they were loaning to us? They were buying our treasury bonds, our mortgage backed securities. Well, now they have all the savings still. They can invest that money locally. They can invest in funding more capital investment factories. They have the money themselves, they have more capital, they have more consumer goods, they have a higher standard of living, they have stronger economic growth. The world benefits when they stop ripping us off. Because they're not really ripping us off, we're ripping them off. We are a burden that the world has borne. And I think what's going to be happening in the very, very near, future is that the world is going to remove itself, liberate. The liberation day is when the burden of supporting the US economy is lifted from the backs of the global economy. And then we here in America, we're left to fend for ourselves. Now we can't live beyond our means. If we want to consume, we got to produce. If we want to borrow, well then we got to save. We can't rely on the world's production and the world's savings. So this is a game changer. It's going to be an eye opener. It's going to be a major realignment of global purchasing power, global living standards. And people need to react in advance. You need to prepare yourself for this coming dollar crisis, this coming sovereign debt crisis. Gold at $5,000 an ounce are now 5,100 and change. It's telling you this is the canary in the economic coal mine. We're coming to a currency crisis. Gold is giving you an early warning that that's coming and a sovereign debt crisis. So you want to load up on a buyer. Gold, want to buy your silver and again get into these mining stocks. They were up today, but not nearly as much as they should. In fact, when gold and silver sold off, gold mining stocks, which were all strong on the day, all went negative, some of them were down 4 or 5%. Crazy. And then when the gold and silver came back and made new highs, many of the gold stocks still ended in the negative. The GDX still ended up positive, just under 2% and the GDXJ just under 3%. But these should have been much bigger moves and I think there will be much bigger move. The Wall street is still in complete denial regarding what is going on in gold and silver. They have no idea why prices have moved up. They expect that the prices are going to come down. They're wrong, just like they've been wrong the entire rally. And that's why they're not buying these gold stocks. And of course, if they really understood the warning that gold was sounding, they would be dumping bonds, they would be dumping their tech stocks and they would be pouring their own money into gold and silver, into these mining stocks. They're not doing that yet. They will when they eventually figure it out, but they're still clueless. So while they are, you need to act. So in addition to buying physical gold and silver at Shift Gold, again, contact your representatives at Euro Pacific Asset Management to talk about our strategies in precious metals mining companies or just look at our my fund, the Euro Pacific Gold Fund, ePGix. You can buy it at any discount broker, no load. You can get information on that fund on my website. I also think the emerging market fund that we have, which has been the laggard of our equity funds, I think that could be the star in the second half of this year because I think the emerging markets have the most to gain from the dollar's demise because they have borne the lion's share of the burden of supporting the US economy. And so they're going to get the greatest relief when they no longer have to do that. And I think that's really going to get reflected in their exchange rates, in their economies, in their stock markets. I have been increasing my own position in the emerging markets. I did that again today. I haven't been increasing my own position in gold and silver because I'm so overweighted that the overwhelming majority of my portfolio is in gold and silver mining stocks. And so I don't need to buy anymore because I've already got so much. But if you're not in that position, if you're not way overweight, you need to move more in that direction. Because I think on a risk reward basis, I can't think of a better opportunity. And you know, all you crypto guys who think there's so much upside in bitcoin, there's not. And to the extent that there is, it's still a lot less than the upside in the gold and silver mining stocks. And I think the downside is much greater in bitcoin than in the gold and silver mining stocks. So if you really want to go to the moon, it's the miners that could take you there. So that's another thing you could do. You don't have to sell your bitcoin and buy physical gold and silver. You can sell your bitcoin and buy gold and silver mining stocks, or you could do both. But the key is first you gotta get rid of your bitcoin. But you don't wanna hold dollars, right? Cause you're gonna lose holding dollars. Inflation is gonna kill you. You were right to be worried about inflation. You were just wrong to buy bitcoin as a hedge. Now, maybe if you bought it 10 years ago, all right, you got lucky, the price went up because other people were foolish enough to buy it too. And they bid up the price of what you already own. That's great. Take advantage of those suckers by getting out so that they're the bag holder and not you. And before it's too late, you want to get into the real thing, physical gold and silver or the gold and silver mining stocks. Anyway, that's it for now. Again, if you're not a subscriber to this YouTube channel, I want to get up to 50,000. I'm getting close. What is it? 46,000. So if you're not yet a subscriber to the Shift Gold YouTube channel, make sure and subscribe now. Interact with this video. Leave me a comment. Like it? Share it with your friends. You know, your friends need to know about what's going on. They need to buy some gold and silver too. If you have any friends that are in bitcoin, make sure they get it because they got to sell their bitcoin while they still can. Anyway, have a great weekend everybody, and we'll be back again next week for another shift Gold Friday market wrap. Take care.
- [43:29]
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- [44:02]
Peter Schiff
what does leadership really look like? On the Power of Advice, a new podcast series from Capital Group. You'll hear from athletes, entrepreneurs, and executives who've led on the field, in the boardroom, and in their communities. It's not about titles it's about impact. Discover what drives them and the advice they carry forward. Subscribe and start listening today. Published by Capital Client Group, Inc.