Transcription
Gold went down during the war, whether or not gold is even a safe haven anymore. Foreign central banks aren't buying, government trust funds are selling. Who's going to buy? Is the public a big buyer? No, the gold is the future of blockchain, not Bitcoin.
Interest rates go up this year. If markets move, what moves the most? Well, I think when the Fed starts to raise rates, I would expect gold to go up. Buy the rumor, sell the fact. Between now and the first rate cut, we could have a big drop in the stock market. We could get some really negative economic data. We can get some very weak jobs reports. And then it takes the rate hikes off the table, and that's really going to send gold uh through the roof.
No, he can't shrink the balance sheet. He's going to expand the balance sheet. In fact, it expanded last week. The government should be cutting social security, Medicare, national defense, government pensions, all farm subsidies. All this stuff should be cut. Donald Trump wants houses to get more expensive because he wants the older people to stay rich or to feel rich. >> We're going to keep them wealthy. We're going to keep those prices up. We're not going to destroy the value of their homes. >> If the market collapses, if the housing market collapses, we go into a recession. So may >> We have to bring up gold and silver then since you brought up the GDX is still up uh from 1 year ago, even though it is down on the year. >> calendar year, yeah. Yeah. >> Yeah, yeah, exactly. From 12 months ago, calendar year, it is down. Why why is the sentiment in gold and miners so low right now? I've talked to a lot of people, and if you look at, you know, if you just zoom out over the last seven to eight and to to 12 months, it's done quite well. It's just a bit of a pull back from this really euphoric period here. What What's What's been going on, yeah?
>> Poor sentiment has defined the entirety of the bull market. I mean I mean investors were never excited about the mining stocks because they never believed the rally in gold and silver. And I think what's really caused this sentiment to get negative, not just the new idea that we have a hawkish Fed that's going to, you know, come out swinging with these rate hikes, but the fact that gold went down during the war is leading a lot of people to question whether or not gold is even a safe haven anymore. Like, hey, why did it go down? Why didn't it go up? And they overlooked the fact that it went up so much before the war. It already priced the war in before the war happened. And by the time the war happened, it was to buy the rumor, sell the fact. Plus, gold was so overbought going into the war. I believe had we started the war and gold was still around 3,000 and silver was still around 30, both would have gone way up during >> Markets pulled back, but investor confidence weakened far more than prices did. As Peter Schiff argues, sentiment turned negative because gold failed to react the way many investors expect during periods of geopolitical stress. The overlooked detail is that markets often price in fear long before public narratives catch up. For wealth preservation investors, mistaking consolidation for failure can result in positions being transferred from patient holders to larger institutions. Next, Peter Schiff explains why the timing of gold's reaction challenges the conventional safe haven narrative.
>> The only reason they didn't, the only reason they came down is because they went up so much right before the war started. But that's created a lot of false uh negative sentiment on the metals that, hey, they don't work anymore. And a lot of the gold enthusiasm over the past decade was stolen by crypto and Bitcoin. And that's where all the action was. That's where all the hype was, all the Wall Street money, all the political clout was being concentrated on Bitcoin, and that stole a lot of gold's thunder. But I think as the air really comes out of this Bitcoin bubble, and it's coming out, it's just going to come out faster, and more people are going to recognize it. Right now, your typical Bitcoin guy is like a deer in a headlight. He doesn't even realize what's coming. He's just frozen. Uh but they're all going to get hit by a Mack truck. And and and and that's going to take the spotlight off of Bitcoin and put it right back on gold where it belongs. And I think to the extent that crypto is going to be a part of it, it's going to be about tokenized gold. You know, gold is the future of blockchain, not Bitcoin. Instead of making gold obsolete, blockchain makes gold better. It makes it more fungible, more divisible, more portable. It makes gold better money. Bitcoin was never money. Even though it was on a blockchain, it wasn't money. Gold's been money, but now when you tokenize it, it becomes even better money. It does everything that Bitcoin promises to do, but can't.
>> Yeah, but even the World Gold Council is participating in exactly this, by the way. I I spoke to a David Tait at the Consensus Miami conference. Okay, so >> Wall Street rarely abandons a narrative until the next one is already funded. According to Peter Schiff, speculative capital pulled attention away from metals and created the illusion that monetary history had changed. The deeper question is whether institutions ever replace gold at all, or simply use volatility to redirect retail enthusiasm elsewhere. Investors protecting purchasing power should watch where custody, settlement, and reserve structures evolve, not where excitement peaks. For decades, gold has remained part of central bank reserves even as new financial products, technologies, and investment trends emerged. That persistence suggests that confidence, liquidity, and long-term value preservation continue to play a role in institutional decision-making. While market narratives change, the underlying need for trusted reserve assets often remains. Next, Peter Schiff reveals the hidden transition forming between digital rails and hard asset credibility.
>> Interest rates go up this year, suppose the Fed raises rates, what is the biggest thing to re-rate? In other words, if markets move, what moves the most?
>> Well, I think when the Fed starts to raise rates, I would expect gold to go up, you know, just buy the rumor, sell the fact. Everybody knows they're going to raise rates, so get it over with. Uh because once they start raising rates, the the focus will be that it's not enough. And that it's going to weaken the economy. And that's going to create bigger budget deficits. And that's going to be good for gold. Uh so I think by the time we do get a rate cut, gold's going to go up, but we may not get a rate cut. Because between now and the first rate cut, we could have a big drop in the stock market, we could get some really negative economic data, we can get some very weak jobs reports. And then that takes the rate hikes off the table. And that's really going to send gold uh through the roof.
>> So going back to bring it back to home, the Fed has to raise interest rates to combat inflation, but they can't raise it too much, or else the bond market's going to break and the economy is going to uh crack. So what what >> Well, it's not just raise interest rates. They've got to keep If they don't keep printing money, the balance sheet is still expanding. Look at what's going on. They have to keep buying bonds. They have to keep doing quantitative easing. Because if they don't buy these bonds, who will?
>> I think that might be the key difference between war and