Peter Schiff Gold and The Dollar Part 3

Published on
October 20th, 2017
62 minutes

Peter Schiff Gold and The Dollar Part 3

The Interview ·
Featuring Peter Schiff

Published on: October 20th, 2017 • Duration: 62 minutes

Brent Johnson’s journey to understand the outlook for the dollar and gold concludes with an extended interview with gold market legend Peter Schiff of Euro Pacific Capital. In this interview,Peter outlines the Fed’s contribution to global economic problems and suggests reflation in the next downturn will be impossible without causing a sovereign debt crisis. Filmed on October 11, 2017 in New York.


  • ED
    Edward D.
    16 September 2019 @ 03:12
    Economic Condition Peter Predicts will be the End Game are : 1. Fed is going to have to allow inflation to go up,,, even get out of control... (just starting) 2. Force to print money into a weakening economy,,, into a falling Bond market,,, (close, Tump is beggin for QE) 3. into an inflationary environment where Gold prices are rising,,, ( just starting) 4. Where commodity prices are rising... ( slowly getting there , Oil price shock this week due to Saudi attack) THAT"S THE END GAME FOR THE FED. 5. Fed will choose to fight recession instead, They will bailout the Gov. rather defend the dollar.
  • AR
    Abishek R.
    29 July 2018 @ 14:21
    Anybody seeing this in Aug'18? Unfortunately, Peter was wrong on Gold, US$, Equities, QT, Tax Cuts. I love watching some of these videos retrospectively.
  • NW
    Neev W.
    25 October 2017 @ 02:08
    Why do I care if he is or isn't invited by CNBC/ Bloomberg/ Fox? If he truly is as insightful as he thinks he is, he wouldn't be complaining about not being invited for TV interviews. Have you seen/ heard Klarman, Dalio, Bass, Soros or Druckenmiller talk so much about giving TV interviews? Edit the crappy self promotion out !
    • rl
      richard l.
      22 March 2018 @ 01:49
      Being on CNBC will only benefit Americans. Having him not on kills them.
  • VM
    Vinnie M.
    27 November 2017 @ 11:41
    the guys ok just a salesman but not sure how accurate the dude is. Take my word bitcoin now 7200 it's going 8000 then over 10,000 will see 15,000 or close 14,500 . But I sold my 500 shares purchased at $ 400 purchase at $2000 so I am a great forecaster NOT . Jim Rickards a few other on GOLD but it may be better to hold a few gold coins then a few digital currency if all hell breaks loose. Will one question or should Bitcoin mirror gold prices as a base?
  • BE
    Baha E.
    20 November 2017 @ 18:19
    Bill Murray would portray Schiff better than Schiff himself.
  • gb
    gabriel b.
    21 October 2017 @ 12:51
    I used to be a big fan of Peter and having consumed a lot of his content i guess I am growing weary of his tendency to gloss over his own mistakes and not even address them. Since correctly calling the subprime crisis he also called for the collapse of the dollar during a period where the dollar appreciated substantially relative to other currencies. He has called for crashes in the stock market larger then 09 for the past 7 years. I get that just because these things haven't happen doesn't mean they never will, but his blind love for one asset class has made him missassive bull markets in equities, real estate, cryprocurrencies, etc... for me it decreases the value of a "discussion" when he simply handwaves away his recent miscalculations and rambles on about the timing of buying his house and how he isn't in tv any more. And by the way, no mention of the fact that what he has advocated on TV the past 6 years has cost you a lot of real purchasing power if you followed his advice. I'm probably coming off a little harsh and I will always still check out what he has to say, about I do think he brings up legitimate long term concerns. But at a certain point if you want to make money promoting your own investment advice you need to be accountable when you underperform many asset classes over 5+ year period and the asset classes you railed against have historic bull runs.
    • dk
      dorothea k.
      15 November 2017 @ 04:18
      Schiff communicates the best what academic economics has to offer. The rest are transition dynamics. Yea, I get it that's not good enough, for as Buffett says, "the market can stay irrational for longer than you can stay solvent." But what's a better coherent framework than Austrian Economics? I don't know of one.
  • PD
    Peter D.
    22 October 2017 @ 21:35
    Excellent interview. Because Peter Schiff was one of the few prognosticators who predicted 2007 visibly and forcefully, he ranks in a very small class, and merits special credit. Adding to that, Schiff's opinions are contra the herd, and frankly, that is what we are here for. Whether his timing is perfect or not, is less relevant than other guests. Because like most gold investors/backers, Schiff generally plays the long game, and only trades with pocket money. Sure Schiff is glib, and, because he does a lot of MSM stuff, has a lot of canned talking points. But Brent did a good job about fleshing him out and even hit him hard on a few key points. I watched the entire hour. Frankly, I'd have stayed a second hour. As for whether Schiff is right on the inflation v. deflation call, no one can be sure right now. But what is certain, is that the central banks (stated or not0 are shooting for hyper/inflation now. My guess it that eventually, they will get it.
    • JC
      John C.
      23 October 2017 @ 12:23
      Agree with all your points and I could have listened another hour as well. Peter has a very good way of putting it all together in layman's terms but is also very good at distilling his answers when given specific questions.
    • JP
      Janusz P.
      8 November 2017 @ 21:39
      good points. A lot of criticism here for P.Schiff from others because of "self promotion" or bad "trade ideas". I disagree. He was merely pointing out to the very interesting phenomena that it was OK for others to ridicule them before until he proved to be right, now nobody wants to look silly again. As far as bad "trade ideas" in the past, well, the herd cherishes nothing more than a guy that pitches them (good) trade ideas so not surprisingly other videos where presenters promote their signal service get a lot of thumbs up despite the stupidity. As was clearly said by Brett right at the start, Schiff has a lot of strong ideas and doesn't beat around the bush. He has thought out the scenarios and while he may be right in general terms it is always hard to say with 100% which assets will go up or down as it is impossible to manage the crowd, guess what CBs will come up etc, so don't blame Schiff that the trade idea expressing your view goes wrong.
  • CL
    Christopher L.
    8 November 2017 @ 20:42
    Can people please stopping bitching about the Schiff interview? The whole purpose of this platform is to interview industry professionals, regardless of their POV. I disagree with some of what Schiff says, but listening to different opinions and POVs allow a true investor or trader to re-think and evaluate their own view point. Kyle Bass has been wrong or miscalculated on a lot of his views, say short JGBs, or why's the China blow up (which I believe will happen)? Yet, everyone can firmly place their nose into Bass' crack. If you actually listen to what Schiff wants the government and the Fed to do, that would be bearish for gold. His whole POV is that the govt and fed won't shape up.
  • MM
    Mario M.
    1 November 2017 @ 02:06
    The last 20 minutes was incredibly interesting. I loved the interviwer questions.
  • GM
    Greg M.
    27 October 2017 @ 12:53
    I think the weakness of this interview is Peter is very active in the podcasting and content space. He is a finance professional worth the time of RV TV but the interview doesn't have the same punch as a Michael Green interviewing Chris Cole or Dan Tapiero shooting the breeze with Dwight Anderson. There is no mystery or exclusivity. Peter is sound with his economics but the timing is impossible. Mises called the collapse of the Soviet Union in the 1920s (it collapsed in 1990). Marcus Aurelius died in 180 AD and the crisis of the third Century didn't kick off until the assassination of Severus Alexander in 235 AD. Rome was in decline but not in full blown collapse from 180-235. The dollar or sovereign debt crisis could occur decades from now and to invest like is right around the corner could be foolhardy depending on your age. If you are younger you may be in your 50s or 60s before the wheels come off.
    • PD
      Peter D.
      29 October 2017 @ 23:15
      I look at it differently. The exclusivity of having well known contrarians like Peter Schiff, Harry Dent, Jim Rogers and others here, stems from the quality of the interviewers. Grant, Raoul, and yes Brett too, ask tough, pointed questions, that pull these guys away from their talking points. Frankly I generally rank interviews that are not hosted by Grant or Raoul, as of a second order, but Brett here did a great job. I'd me more than happy to watch him interview anyone on the monetary policy front.
  • OD
    Orin D.
    26 October 2017 @ 09:48
    Schiff is hopeless. He was calling for a US dollar collapse at its lows in 2011...........he got that wrong big time and still just bangs on about how the Dollar will be weak.
  • Sv
    Sid v.
    25 October 2017 @ 15:00
    I skipped the self promoting part, and the rest of the analysis was quite useful. The guy has the personality of a hedge hog, but he is a thinker on the macro level. Thank you.
  • DY
    Dmytro Y.
    25 October 2017 @ 06:25
    Dear Brent and RVTV, thank you but this has been disappointing video series. as much as looked forward to contents about Gold, i am frustrated. The content of video is substandard for RVTV that strives to be investment TV (not just any youtube video). No talk about hard data like demand from investment (ETF, retails sales globally), Central Banks, etc. Part 2 looked to give a glance to it but did not continue. Part 3 is complete waste of time (sorry to say i typically never use a strong language but this is one of those rare cases). Hope next videos on Gold subject would really bring some light. Instead of P.Schiff it would have been much better to have GFMS interviewed or Swiss refiners say something.
  • JH
    Jesse H.
    24 October 2017 @ 06:25
    Interesting interview if you can focus on the content and not on his manner. A bit turned off by the chest-beating and self-congratulatory comments at the beginning. For example, did we really need to spend time discussing "media perception" of him?! Kyle Bass is probably more well-known and accomplished as an investor, and there is all substance and no drum beating with Kyle. While I share many of Schiff's concerns, I don't think he has the appreciation of market complexity and chaos (in the mathematical sense) that I've seen by lower profile but important intellectual heavyweights like Daniel Want of Portfolio Capital Management. Nonetheless, many key points which we are all familiar with as RV viewers, and important to bear in mind going forward.
  • HH
    HODL H.
    24 October 2017 @ 03:50
    30 minutes of my brain on #Covfefe before my primal instincts kicked in and told me to stop doing this to myself
  • DC
    Darrell C.
    22 October 2017 @ 19:43
    Sorry, but this was the worst pick of an guest so far. Mr Schiff is interested more in promoting himself rather than figuring out the current state of the markets. I agree with another subscriber, nothing new here....
    • HH
      HODL H.
      24 October 2017 @ 03:47
      Completely agree, would rather promote his products than anything else. Explanations aren’t founded in data or facts, just seems to be ranting
  • WG
    Wade G.
    23 October 2017 @ 21:09
    RV folks: with all due respect, I'm sad to chime in and express my disappointment with this content. I'm frankly stunned to find this on Real Vision. Having read over all of the comments below, there seems to be general agreement Mr. Schiff should have gone easy on his sales pitch, disclosed his conflicts, and perhaps presented his investment conclusions with at least a tiny bit of caution (or some qualification). It's worse than that and RV folks should well know it. Early in the interview while describing his background Mr. Schiff used some casual phraseology regarding his commentary leading up to the financial crisis: "when everything I predicted came to pass". This is famously false as noted by Paul W. below. Schiff dogmatically pounded the table then about an imminent crash of the US dollar and safe haven in emerging markets. If you invested with him or took his advice, you were likely crucified, depending on precisely how you expressed your trades, or how much of your net worth you invested with him, and for how long. Schiff's word choice and the ebb and flow of his monologue are coherent enough, but to listen only to him, you might presume he's competent and has a good recent track record. He does not. Not only is he therefore misrepresenting himself to new listeners (implying he got the crisis right when he did not), his style seems quite out of step with the humble, careful, intellectual approach exhibited by Misters Pal and Williams. For me, Mr. Schiff represents literally the opposite of what I thought RV was about. And this isn't about his fair criticism of US gov't or Fed policy or his US bearishness, or bullishness on gold. I own gold, I rent miners, and I think Schiff gives gold bugs a bad name.
  • PW
    Paul W.
    23 October 2017 @ 17:45
    Mr. Schiff likes to point out he predicted the crash of 2008, which he did, but everything he said that would happen, the opposite happen. Dollar went up not down, emerging markets went down not up, China went down more than US, etc, etc. He is right with economics wrong with investments and markets. The US govt will not stop social security payments. They may raise the age of retirement or give out a 75%, but telling people they will get nothing is ridiculous.
  • JC
    John C.
    23 October 2017 @ 12:21
    For all of Peter's spin and salesmanship, at the end of the day he's 100% right and I really enjoyed this video. I guess my biggest question is timing. Sure we all know the USD will eventually devalue a lot, but compared to what? Timing-wise isn't there a pretty good chance the DXY heads back to 100, we have a market crash, then it steadily drops again say in the next 6-9 months? It's not going to be linear, that's for sure. So can't both Brent be right in the short and medium term due to his rationale, while Peter is right say a year or more out? (maybe even longer) RE gold the views expressed were spot on but as a gold bull and owner of both miners and the GDX I'm just more convinced I should keep buying now. Finally, at the end Peter spent about 3 minutes essentially pitching Goldmoney and their services - wondering what his stake in that company is and if any RV'ers have used this 'PayPal' for gold as it's intriguing especially in the face of potential bank creditor and depositor bail-ins.
    • rr
      rlw r.
      23 October 2017 @ 17:40
      Goldmoney is a really good idea and smart notion after your physical gold holdings are met. Personally, I've found the site cumbersome and a tad wobbly. But like Peter, get past the perceived annoyances. And you're good to go.
  • WM
    Will M.
    22 October 2017 @ 15:20
    Yes..... Peter comes across as pretty certain about his point of view and unfortunately was less of an interview and more of a diatribe. I agree with much of Peter's perspective but his hubris is annoying. Brent did not really succeed is challenging him hard enough on his recent weak record. I understand Peters depth of knowledge and perspective but he is so opinionated and overconfident that he undermines his own credibility with folks that are on the fence. I do feel his comments about the Fed and establishment not allowing bubbles to burst and deflation to follow are pretty much spot on. We are where we are today because our politicians and fiscal managers have failed to act in the best interest of the system and instead have mostly acted in their own selfish interests although Greenspan, Bernanke and Yellen have only done what they felt they had to, to keep the system afloat. I saw commentary here about the current circumstances financial circumstances being unprecedented. Lets get one thing straight; the current financial circumstances are not only unprecedented, they are downright unsustainable! When we revert to the mean, as we surely will, the outcome will be horrific. I have no problem with folks wanting to "surf the financial bubble wave" but the outcome of all of this is going to be an unprecedented disaster. Once pension funds fail, confidence in most or all currencies is lost, governments boost taxes and "print" fiat to service debt in a desperate attempt to keep the system afloat, government bonds collapse, most stocks flounder, we will all finally witness the folly of the last 25 years. Peter grasps these facts well, he is just echoing what many RVT viewers really already know....and in my own case....are desperately worried about. Look, you either believe gold is a real asset whose time is rapidly approaching or you don't. If you don't, I believe there is a good chance (>50%) you will eventually see the light at the end of the tunnel.....only it will be too late when you realize its a 4-6-4 locomotive heading towards you. Sorry fellow RVT viewers to witter on BUT in my own case I thought the crash in 2002 would herald a major crisis and possibly a depression, I was WRONG but didn't lose money just opportunity. I thought the financial crash in 2008 would certainly lead to a financial collapse, I was WRONG AGAIN but didn't lose money just opportunity. Now as we approach 2018 I see an tidal wave of issues facing us all. If you disagree with me fine. The question to ask yourself is, when the next crisis hits, do you believe the worlds central banks will pull another rabbit out of their hats........and things will just return to normal within a few years? I think not, somewhat like Peter (and Martin Armstrong and many others), I think we will witness a life-changing and global re-alignment of wealth and power that will take away your breath. Gold is just PART of the answer. Good luck.
    • JC
      John C.
      23 October 2017 @ 13:46
      I hear all your points but to be honest it's really already fairly bad at least in the US it's just that the media and powers that be have blinders on. Healthcare costs are through the roof, wage inflation is pretty poor, CPI doesn't really measure true inflation on things people need and prices on most things has gone up (rents, healthcare, food, etc.) it's just gas and energy that aren't killing us (yet). There are relatively few good white collar jobs now in the US, many Millennials are living at home, there is zero job security except in the now higher-paying public sector that's killing the entire system with their pension and benefit schemes. And higher eduction pricing is incredibly high now and almost unaffordable for the top-tier private schools. Social services are down and increasingly it takes more and more money which people don't have to live well. All that said, it's been more of a slow burn over the past decade and I would suspect that is how it will continue to devolve as we go forward.
  • DO
    Dylan O.
    21 October 2017 @ 06:38
    For the Goldmoney plug at the end, Peter should have disclosed he is part of a joint venture with Goldmoney. I am also a bit surprised he thought GLD was a good vehicle because they were forced to hold physical. Someone needs to reread that prospectus. In any case, GLD isn't deliverable unless you own quite a lot. "Can an investor take physical possession of the gold backing his/her GLD shares? The Trustee, The Bank of New York Mellon, does not deal directly with the public. The Trustee handles creation and redemption orders for the Trust's shares with Authorized Participants, who deal in blocks of 100,000 SPDR® Gold Shares. An individual investor wishing to exchange shares for physical gold would have to come to the appropriate arrangements with his or her broker and an Authorized Participant." I understand the dollar is being devalued, however, what major currency isn't? He seems so bearish dollar yet many other major currencies have the same issues (Euro, yen, yuan), too much debt and aging demographics. The only reason why any other currency may have an advantage over the US dollar is that they can't be dethroned as the world reserve currency. A dethroning would be devastating to the dollar, but he didn't articulate that in the interview. I agree with other comments that he is probably right about gold but timing is everything. There were a few other talking points that bugged me. Brent had some good questions and I wish it was more of a dialogue. Grant Williams is a true scholar of the gold market. He would have been my pick to wrap up this segment.
    • EF
      Eric F.
      21 October 2017 @ 23:12
      Agreed, would like to have seen GW participate too.
    • WM
      Will M.
      22 October 2017 @ 15:24
      Yes these are good points.
    • JL
      Jacob L.
      23 October 2017 @ 13:46
      Realvision ought to edit the informercial part out asap! Very uncool to be paying decent money and invest time listening only to be fed content that in fact is a non-disclosed commercial at the end.
  • BB
    Bradley B.
    20 October 2017 @ 18:35
    Peter is a relentless gold bull. I don't think I've ever heard him speak a negative thought on price outlook on any timeframe. He also expresses zero doubt about his thesis and does not acknowledge the validity of counterarguments. He also sells gold and makes a commission as a broker. Does anyone else see an issue here?
    • PR
      Paolo R.
      20 October 2017 @ 20:02
      I think Pete deserves more credit and show ultimately be respected.. I found what he said insightful and knowledgable, he makes perfect sense and we should all own Gold and dump the dollar..
    • JC
      Ja C.
      20 October 2017 @ 22:08
      Yessirre. Another Peter Gold Bullschiff infomercial.
    • MS
      Matt S.
      23 October 2017 @ 08:24
      all fiat currencies in history have gone to zero. the US debt is ever increasing and unrepayable. everything is a bubble. gold has been regarded as money for thousands of years, is finite and is tangible. the purchasing power of gold has npt changed since Roman times unlike the purchasing power of the dollar which has decreased by over 90% since the Fed came into existence... why would he express any doubt on his thesis?
  • BA
    Brian A.
    20 October 2017 @ 14:34
    Sorry I just have to first ever comment. Congrats to the business media for not letting this man on the air. He like Marc Faber and Eric Sprott have financially ruined many who believe their rapid fire monologues on everybody is stupid and don't understand economics tripe...except them of course. I have seen up close - I'm in the investment business - the heart breaking results of people who follow their recommendations and now can't retire or sadder yet can't even put food on the table because their retirement savings have been depleted. Talk about the real deflation... Have these guys no conscious, or an ounce of humility. Sad day for Real Vision!
    • SW
      Scott W.
      20 October 2017 @ 15:35
      Agreed regarding guys of this nature. Compelling one-trick ponies. I "came of age" with regard to Austrian thinking in 2011 and then came across this guy and found his arguments persuasive. What I had not yet mastered were concepts around second, third, n-order effect. I have since learned - to some extent at least. Bernanke is most assuredly NOT an idiot, QE has not (yet) unleashed the inflation Schiff virtually guaranteed. This does not imply I believe QE or even the Fed are good things per se. Or that Austrian notions of free-market money should not be pursued. It does mean however that things are far more complicated than QE begets hyperinflation QED so buy lots of gold and silver at its all time high.
    • SA
      Sreenath A.
      20 October 2017 @ 17:06
      Indeed! See the performance of EuroPac funds. None are doing good. Schiff might be right but he was right once in 2008 and since then it has been like a broken record from him. Same message for a decade, which is why no one invites him to any interviews. I agree with him that deficits matter and dollar king will cease to be. However, there are few alternatives available. Gold is great to hold around 10% of your portfolio but not more. Maybe Bitcoin or other crypto-currencies will provide additional diversification but it will take time. Schiff is right on a lot of things and but way ahead of his time. We still have a long ways to go before pension obligations, funded/unfunded liabilities and demographics will take the market and the dollar down. John Hussman too is like Schiff, just more academic. Investors who followed or invested with them continue to lose money and probably have a lost decade on their hands.
    • MY
      Madjid Y.
      20 October 2017 @ 17:14
      I have to add my voice to yours. Really sad RV thanks Brian
    • KM
      Kevin M.
      20 October 2017 @ 17:24
      It's a sad day because Real Vision spoke with Schiff and posted the interview? Come on. One of the things I value about this site is that it's not an echo chamber.
    • DG
      David G.
      20 October 2017 @ 20:54
      The sad day for RV would be the day they succumb to political correctness and self righteous dogmatism typical of mainstream media outlets, or worse, morph into an Orwellian social media aggregator that monitors and third-party fact-checks viewpoints to determine what we get to see and hear. I don't need RV to protect me from those whose opinions I don't agree with, nor did I sign up to have my ass kissed or biases confirmed.
    • DV
      Daniel V.
      21 October 2017 @ 00:40
      I disagree about the Sad Day but agree with the self-promotion and lack of his fund performance.
    • MS
      Matt S.
      23 October 2017 @ 08:04
      So Brian your implication is that mainstream media gives sound financial advice and that is why they don't have Schiff on? Like....... Jim Cramer? "Bean Stearns is fine! Do NOT take your money out!" yeah nice one CNBC! Oh Brian.... :)
  • GF
    George F.
    20 October 2017 @ 14:23
    Are central banks manipulating gold up or down? Lately, I have been reading central banks in China and Russia are hoarding gold. It appears there is overproduction in China and Russia, which is why their governments are buying up the excess gold they produce. Why can't the supply of gold be increased dramatically? There have been dramatic improvements in energy, for example, shale drilling techniques, and base metal mining. Eventually, those techniques will end up in gold mining.
    • JL
      J L.
      20 October 2017 @ 20:29
      You could very well be right but it is my understanding that gold mining has benefited from technological advances somewhat less than the extraction/generation of other commodities since industrialization, therefore gold's purchasing power has appreciated slightly
    • MS
      Matt S.
      23 October 2017 @ 07:56
      China has been secretly buying gold for years George...
  • MS
    Michiel S.
    22 October 2017 @ 21:38
    A shame really it never got to any in depth discussion and it just stayed another PS monologue!
  • RM
    Robert M.
    22 October 2017 @ 16:33
    Never have bought gold, but thinking about it now. Greenspan makes this same argument in Barron's this week and backed by Thomas Kaplan in this week's issue as well. Not sure why so many listeners are disappointed. Whether his forecasts have been right in the past, I am worried about the scenario he and Greenspan paints: higher govt deficits to cover entitlements, Fed can't afford higher rates to support dollar so it buys more bonds to support govt deficits and dollar drops with rates. This adds gasoline to the fire and pumps up inflation. As foreign buyers dump bonds due to the lower dollar, Fed has to buy more so the Federal govt is not bankrupted on current note payments. Market may increase nominally, but declines in real value due to drop in dollar (i.e. Venezuela) and rise in inflation. Initially dollar drop painted as good for exports until higher prices drive down consumer spending. Drop in consumer spending causes a collapse in economy worse than 2008. This seems like a reasonable scenario. I recommended this book in the past, The Great Depression: A Diary by Benjamin Roth. What is enlightening in this book is too see how wealthy families lost all their money investing in what was viewed as conservative companies of the day due to a perfect storm in the late 1920s and early 1930s. I think Schiff is painting that picture and with the market at all time highs on various measurements, something to pay attention.
  • KB
    Kirk B.
    21 October 2017 @ 06:20
    RV distinguishes itself with quality interviews of knowledgeable investors sharing their insights, not self-promoters selling their product. After blathering on with his tired arguments, Schiff ends up with the recommendation that we all buy gold through GoldMoney, not mentioning that he has a financial interest in that operation. I don't subscribe to RV to watch infomercials.
    • WM
      Will M.
      22 October 2017 @ 15:26
      I agree with your point about the GoldMoney plug. Peter should have advised folks that it is just one of several options for gold ownership.
  • RT
    Rune T.
    22 October 2017 @ 14:09
    PS's usual regurgitation, nothing new under the sun and the biggest bobble about to burst is his ego - i'm sure he means well and all, but anyone who spends a couple of hours of research on his investment firm, bank and other activities will quickly realize his customers generally are of a different opinion.
  • MD
    Mathieu D.
    22 October 2017 @ 09:31
    Always interesting to listen to views quite different from mine, that’s why I also subscribe to RV. The narrative was pretty obvious from the start, and that’s ok. It would have been beneficial to the audience to address a few other points (maybe some ideas for the next interview), given EuroPac provides other alternatives to gold as investment funds. For instance: - Willing to short the USD is one thing, what is he going long instead? There are similar issues in Europe, Japan and China with regards to money printing. Thinking long term, would he go long EUR/JPY/CNY/AUD/other? - In his funds strategy, is he hedging the currency risk? If not, why not just short the dollar vs other currency pairs instead? - What allocation to gold would he recommend? - Why is Europac investing in Europe.I totally get the Asia story given the growth, but Europe is less obvious vs the US. Provided one doesn’t by the market but stock pick, there are still plenty of opportunities in the US imo, does he find more opportunities in Europe and Asia Pac, or do the fund deliberately decide not to invest in the US. What if he is wrong? - Does he see a risk of cryptocurrency taking a size of the gold investment market long term (thinking long term here given the current volatility, say 10 years). - Despite the government debt, the overall macro numbers in the US, as well as the growth in Europe are doing better than expected. Any comment on Europe where Europac is investing, about the recent strength of the currency, better IP vs expected, challenge with wages and inflation rising much slower than expected and the current dilemma for the ECB. Thanks
  • NR
    Nathan R.
    22 October 2017 @ 06:13
    I wish Schiff blathering on about how he doesnt get invited to speak on mainstream media had been edited out.
  • GG
    Glenn G.
    22 October 2017 @ 04:36
    How about Peter's socks! Those were just outstanding!
  • BW
    B. W.
    22 October 2017 @ 04:21
    For the record, I see this as a major downgrade in the credibility and quality of guests here. A guy who somehow still manages to sell books to the rookie money (I assume) despite a clear track record of exhibiting a vast misunderstanding of the basic workings of economics in general and the gold market in particular.
  • BO
    Bryan O.
    22 October 2017 @ 02:29
    Peter Schiff on Real Vision?! Cmon - you are better than that. There is so much great content on Real Vision but I just don't get the extreme bias towards gold bugs and perma bears on US stocks.
  • VP
    Vincent P.
    20 October 2017 @ 17:52
    Oh no! "World on the Brink", now Schiff????? Is Allistair MacLeod or Chris Martenson next?? How bout Bill Fleckenstein and his plans for a short fund? Look, we all know what we're seeing in asset markets today is unprecedented in so many ways but personally, I've no interest in hearing these conceited one hit wonders praising past performances and sticking us with ill fated "predictions" that are "better off being early". No, that's being wrong!!! R,,,,,,,Veeeeeeee??????? Please stay on track with thought provoking material and avoid inviting dinosaurs to the show. All the best and keep trying. It'll be alright.
    • PR
      Paolo R.
      20 October 2017 @ 20:05
      You need to learn how more about economics and study history..
    • EF
      Eric F.
      21 October 2017 @ 23:18
      Some valid points here. I like that RV is highlighting what I think is an impending crash and some of the insanity surrounding it. But, you can't just focus on what is wrong / broken. What are the other options to avoid / profit from this?
  • AM
    Alonso M.
    20 October 2017 @ 19:37
    Based on some of the comments so far, it seems many people didn't actually watch the interview from start to finish. Some insights have been provided. Peter's bearishness on USD is all about a ballooning Government budget deficit, and his expectation that relatively short duration government debt will cause (or force) monetary policy to fund the deficit and keep rates relatively low with the goal of maintaining the debt service cost more manageable. It may not play out this way, but this is a logical argument. Later on, he specifically mentions the need for proper diversification in a portfolio which includes gold and gold stocks. Another logical point. Rather than make your first ever comment on RV resemble an immature vitriol filled personal attack, it might be better to actually say something that provides a counterpoint for Schiff's argument.
    • EF
      Eric F.
      21 October 2017 @ 23:15
      Yes, but some of the other points are valid and the 'advert' at the end doesn't look good when you don't declare your self interest.
  • NB
    Nils B.
    21 October 2017 @ 18:51
    Really? Liberals ignore anecdotal evidence? Since when are anecdotes even evidence? Doesn't everyone have a story about their uncle beating the stock market 10 years in a row and lived to be 103 even though he smoked since the age of 19? Like ,I don't care if you're a libertarian or a liberal or believe in Bigfoot, but it takes a little more nuance in someone's reasoning for me to take it seriously.
  • RG
    Richard G.
    21 October 2017 @ 18:23
    Schiff stealing a page out of Trump's book. I was so right, I have my own studio, everybody else looks foolish, CNBC's ratings are probably down because they don't have me on anymore." Love Real Vision, but had to stop this at 10 minute mark. Had my fill of the back patting.
  • WB
    Wes B.
    20 October 2017 @ 11:28
    Brent, good interview. Schiff always makes a great argument for gold. One question though... how could you not press him on how the ECB and the BOJ are burning their currencies every bit as if not worse than The Fed? I get the $USD vs gold argument but a $USD collapse vs other currencies especially the EURO makes little sense to me given their interest rate policies are more insane than ours. I think best argument for long $USD remains that it's the cleanest shirt amongst the dirty laundry of all developed currencies.
    • DG
      David G.
      21 October 2017 @ 17:36
      In laundry room where all the shirts are dirty and stink and at war with each other I think the argument for gold still holds. In this filthy environment the dollar and gold rise together, as many will rush to the dollar as the traditional safe haven and least soiled currency, but gold also rises when the masses finally awaken to the fact that it is the *only* truly clean currency.
  • DY
    Dmytro Y.
    21 October 2017 @ 14:52
    Actually disappointing. We knew what he would say without this video. I looked forward so much to this series but am left disappointed with shallow approach and not enough depth. Episode 3 was a waste of time. Sorry but telling as it is. Respect Brent but disappointed! :((
  • PN
    Philip N.
    21 October 2017 @ 09:52
    I generally enjoy listening to Schiff and I thought Brent Johnsson did a better than average job challenging him. That said i think Peter underestimates the possibility of deflation. Bureaucracies are notoriously slow to react to changes and the Fed's record has been particularly poor. Deflation could easily spin out of control before they react. In the short to medium term the dollar could easily reign supreme again. Would they print whatever it takes, I expect they would but it might take a while before the effects of that printing were felt.
    • PN
      Philip N.
      21 October 2017 @ 09:57
      And to commit a double posting foul, the rest of the world has not been anymore responsible than the Fed. I can't think of any nation with a sane monetary policy or any developed nation that isn't riddled with bubbles. I'm not sure I put much stock in the idea that the rest of the world has been saving and investing and will be waiting to benefit from an end to American profligacy.
  • RR
    Raj R.
    21 October 2017 @ 07:24
    I know people make fun of Schiff! But ignore his investment ideas! His knowledge of the overall economy is just amazing! So much to learn! He is the most misunderstood gurus of our times!
  • RR
    Raj R.
    21 October 2017 @ 07:22
    Brent is like this kid trying to get an A grade with the professor! Will the dollar not go up for 1 day, 1 week. Fascinating! Brent did an excellent job with this series!
  • CG
    Christine G.
    21 October 2017 @ 04:55
    This was an interesting series but don't pretend that it was a balanced discussion about gold. The "con clusion" was a foregone conclusion given the way it was set up.
  • CY
    C Y.
    20 October 2017 @ 17:17
    to quote ida, "I never listen to analysts who never have doubts "
    • SS
      Steven S.
      21 October 2017 @ 02:13
      brilliant! Words to live by for listening to analysts and elsewhere!
  • CC
    Charnes C.
    20 October 2017 @ 17:29
    he may be early, but he is not worng
    • PR
      Paolo R.
      20 October 2017 @ 20:05
      Totally agree!!
    • SS
      Steven S.
      21 October 2017 @ 02:12
      I agree that the world's economy is completely messed up. However, being right means being correct within a reasonable time period. I can easily claim that the market will crash 90+% sometime over the next 10,000 years. I'd guess that virtually all economists would agree ...but what a worthless statement. Listening to Schiff has cost you at least 100% return since the crisis.
  • BM
    Bryan M.
    20 October 2017 @ 18:11
    My parents taught me that if I could not find something nice to say about someone or something I should just not say anything at all and I am amazed that many of the people who are disagreeing with Mr. Schiff are doing so in a demeaning and yes, downright rude manner.
    • SS
      Steven S.
      21 October 2017 @ 02:05
      I haven't seen downright rude comments here. These are not personal attacks on Schiff, rather they are criticisms of his ideas. Economists are extremely influential and their views--from Fed chairs to Stock Brokers--impact livelihoods across a wide array of the population. Economic policies greatly influence political policies, foreign wars, etc. Hence, critically scrutinizing economic ideas must be a cornerstone of our society. With regard to Schiff's views, they are borderline nonsense. Predictive accuracy involves being correct on the upside and the downside with timing. Obviously, no one has a crystal ball, but dogmatically predicting a collapse does not constitute accurate economic prediction. 2009: Schiff predicts a near-term collapse of the dollar to a worthless value. 2010: currency crisis and sovereign debt crisis "soon", 2011: unload your fiat currency, 2012: buy silver and gold immediately ($1600-range for Gold), etc. I actually agree with Schiff on several points, but (i) have different economic reasons for doing so, and (ii) have been an asset bull from 2009-until this month. The value of economic predictions is in timing. And to reiterate, accuracy in predictive models involves being correct on the upside as well as the downside within a time frame.
  • GH
    Gary H.
    20 October 2017 @ 17:58
    Pretty funny. Only half way through but Peter doesn't really require an interviewer. He just goes off on his well worn diatribe. Always comes down to the timing
    • DV
      Daniel V.
      21 October 2017 @ 00:37
      Spot on!!!
  • DV
    Daniel V.
    21 October 2017 @ 00:31
    Blah, Blah, Blah. Peter needs to stop promoting himself and let his ideas bloom. He has not learned this in 8+years.
  • HJ
    Harry J.
    20 October 2017 @ 21:11
    If investments ar a chess game you loose without knowing the next four moves! Iet’s move on down the line and talk about what comes next etc. Yes Gold will go up in time but then what etc, etc
  • JS
    John S.
    20 October 2017 @ 20:11
    Peter Schiff is the man. Bring him back soon!
  • ac
    adel c.
    20 October 2017 @ 15:32
    loser , loser , loser
    • PR
      Paolo R.
      20 October 2017 @ 20:06
      your the loser
  • DW
    Dave W.
    20 October 2017 @ 20:06
    He doesn't seem to to understand that we have a fractional reserve banking system and even that is small compared to "shadow" dollars created in the eurodollar market. Brent tried to get him to get into that when he brought-up the offshore dollar debt but Peter seems to think its all about the domestic M1. Its flawed thinking to only consider that as driving asset prices.
  • PR
    Paolo R.
    20 October 2017 @ 20:02
    Thanks Peter, your great and right on the money!
  • dd
    darrell d.
    20 October 2017 @ 20:01
    Always like Peters why he approaches problems. He breaks down problems were even the common person can follow. Great interview you two!!
  • LA
    Linda A.
    20 October 2017 @ 17:34
    Really good interview. I love Peter Schiff's boldness. He speaks his mind, has a good economic & historical background. He could not care less of other naysayers' harsh comments. I love people who are bold & takes a position whether u agree with him or not. He is the thorn in the Fed's rose. He keeps needling them to do the right thing. Keep on it Peter!
  • JC
    Juan C.
    20 October 2017 @ 17:25
    Excellent series!
  • SS
    Steven S.
    20 October 2017 @ 17:25
    If Schiff has “a very good understanding of economics”, then I’m the favored replacement for Aaron Rodgers
  • SS
    Steven S.
    20 October 2017 @ 17:01
    The only thing that Schiff is legendary at is ill-informed dogmatism
    • MY
      Madjid Y.
      20 October 2017 @ 17:10
  • EH
    Eric H.
    20 October 2017 @ 16:56
    he makes a very good point about positioning today vs 08'. Dollar was ripe for a bounce in 08' and short squeeze and GFC put gasoline on that fire. Great stuff!
  • jh
    john h.
    20 October 2017 @ 14:36
    where is the transcript?
  • EL
    Elizabeth L.
    20 October 2017 @ 14:30
    Great job Brent on the interview. I appreciate getting to hear Peter's insights, views and learning about his background. And am happy to see a one hour in-depth piece. Too few lately, in my opinion, as they are the backbone of RVTV. I do wonder what Peter thinks about the Euro, the Yen, and the Yuan. Personally I think they are in greater predicaments and as a result the dollar will be seen as the only safe haven at some point in the not so distant future. Thanks for an informative piece Peter, Brent and RVTV staff.
  • TD
    Tom D.
    20 October 2017 @ 14:26
    It is wonderful to listen to such a clear, insightful thinker with a seeming endless fountain of knowledge. It is the country’s loss Peter Schiff was not elected a US Senator. Thank you Brent and Peter for this interview
  • IP
    IDA P.
    20 October 2017 @ 14:25
    I never listen to analysts who never have doubts
  • SW
    Scott W.
    20 October 2017 @ 12:58
    Some enterprising individual should have created the Schiff ego index circa 2010 and allowed others to bet against it. Those going long on that would have done far better than those who followed Schiff's investment theses in a similar time frame. Just sayin. p.s. I'm an Austrian, I like gold, I think he'll be eventually right, I think he has a good narrative. )
    • DB
      Douglas B.
      20 October 2017 @ 13:27
      So true. All along he has been telling everyone to stay away from Bitcoin. If someone invested just $1 in Bitcoin in 2010 today's value would be $1.3 million. Gold bugs tend to get tunnel vision as they spend most of their imaginary energy dwelling on doom porn.
  • TJ
    Terry J.
    20 October 2017 @ 11:34
    Absolutely brilliant! I could have listened to Peter's insights and wisdom for hours! All credit to Brent for making the discussion so interesting by posing the right questions and most especially for challenging Peter on his dollar predictions. I really enoyed the three programs put together by Brent and learnt so much in the process. Thank you.