The Dow closed above 18,000 on Monday for the first time since last July - but unfortunately that news isn't as positive as it sounds. Stefan Molyneux and Peter Schiff discuss the massive cracks in the world economic system, corporations defaulting on their debt, Saudi Arabia threatening to pull $750 billion in assets from the United States economy, the coming collapse in the health care industry, misleading employment statistics, the Panama Papers Scandal and the danger of economic collapse.
Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, the host of the Peter Schiff Show Podcast, the CEO of Euro Pacific Capital and the Chairmain of Schiff Gold.
Gold bug, Peter Schiff has a message for all the bears out there: You are wrong!
On CNBC's "Futures Now" recently, Schiff said that Wall Street firms, and Goldman Sachs in particular, which have issued bearish calls on the commodity for some time, are too pessimistic on gold's upside. The investor insisted those firms are missing the big picture when it comes to bullion, due largely to anticipated action from the Federal Reserve that Schiff believes is unlikely to materialize.
"They are still wedded to the old narrative. They still expect the Fed to raise rates three times this year. They will believe in this phony recovery. They still expect the dollar to continue to go up and they're wrong," the CEO of Euro Pacific Capital said. Goldman "is just as sure that gold is going to collapse now as they were back in December.
Alex Jones hosts a heated debate between Peter Schiff and Harry Dent. Although these two agree on much, they have had fundamental differences in the past. This explosive interview is no different and sees Harry lose his cool. Who will be proven right is still yet to be seen, only time will tell.
