As the world grapples with Covid-19, precious metals’ prices are pushing higher. Massive moves in gold and silver are coming, according to veteran stockbroker Peter Schiff. The rise in gold and silver price is “about to explode” and this is just the beginning of a much bigger move, according to Schiff.
“The US dollar is about to collapse and when it does, gold is going to take its place. The bottom can drop out of the dollar any day, and gold could go through the roof any day. So, this is a real race and you have to get out of the dollar before it’s too late,” Schiff said.
Silver is up more than 13% so far today, while #Bitcoin is barely up 2%. #Silver is the new Bitcoin, except with direct utility. So while Bitcoin bugs are dreaming about Bitcoin going to the moon, they are missing the real life moonshot in silver.
— Peter Schiff (@PeterSchiff) July 22, 2020
We believe we are at the early stage of the biggest Cobra Effect in the history of economics. As the massive monetary and massive fiscal stimuli (over $15T globally) conjoin to save the economy from a deflationary depression, they will cause instead a hyperinflationary economic collapse…