MoneyShow MoneyMasters Podcast Peter Schiff: Act NOW to Avoid Debt and Dollar Debacle
Sep 12, 2024
21:36
Crushing government debt. A deepening recession. A collapsing US dollar. Chaos in the financial markets. It could soon be headed your way. But all is not lost, either. Target the right commodities, stocks, and markets, and you won’t just come out relatively unscathed. You’ll have the chance to pocket sizable profits. That’s the worldview and advice shared by Peter Schiff, chief global strategist at Euro Pacific Asset Management, in this week’s MoneyShow MoneyMasters Podcast segment.
Peter starts by comparing TODAY’s environment to the one leading up to the 2008-2009 Great Financial Crisis. In his words, the situation today is “eerily familiar” and the consequences of inaction by investors could be “catastrophic.” He goes on to note that investors made a lot of money in the 1950s and 1960s investing in the “Nvidias of their day” like Polaroid and Xerox. But anyone who didn’t shift their approach for the stagflationary 1970s – and target NEW investments like commodities, gold, oil, foreign currencies, and the like – got crushed.
Peter next proposes that the Fed hasn’t slayed inflation, and that it’s poised to turn up again. He adds that record government and household debt will lead to serious economic problems – even IF the Fed starts cutting interest rates soon. In short, it’s a “toxic cocktail we’re about to drink” – and that requires protective and proactive action. He lays out investment strategies that he believes will work best in this new currency, commodity, and equity market regime. That includes buying shares of companies that prosper from inflation, foreign stocks that will benefit in a falling-dollar environment, and gold. Finally, Peter previews what he’ll talk about at the 2024 MoneyShow Orlando, scheduled for Oct. 17-19 at the Omni Orlando Resort at ChampionsGate. Click here to register: https://orlandomoneyshow.com/?scode=061246
Peter starts by comparing TODAY’s environment to the one leading up to the 2008-2009 Great Financial Crisis. In his words, the situation today is “eerily familiar” and the consequences of inaction by investors could be “catastrophic.” He goes on to note that investors made a lot of money in the 1950s and 1960s investing in the “Nvidias of their day” like Polaroid and Xerox. But anyone who didn’t shift their approach for the stagflationary 1970s – and target NEW investments like commodities, gold, oil, foreign currencies, and the like – got crushed.
Peter next proposes that the Fed hasn’t slayed inflation, and that it’s poised to turn up again. He adds that record government and household debt will lead to serious economic problems – even IF the Fed starts cutting interest rates soon. In short, it’s a “toxic cocktail we’re about to drink” – and that requires protective and proactive action. He lays out investment strategies that he believes will work best in this new currency, commodity, and equity market regime. That includes buying shares of companies that prosper from inflation, foreign stocks that will benefit in a falling-dollar environment, and gold. Finally, Peter previews what he’ll talk about at the 2024 MoneyShow Orlando, scheduled for Oct. 17-19 at the Omni Orlando Resort at ChampionsGate. Click here to register: https://orlandomoneyshow.com/?scode=061246