Peter Schiff Gold Prediction: The Case for 100X Gold

A Peter Schiff gold prediction is always bullish and almost Crazy. And his latest prediction has gold going to 10x and gold miners to 100x.  Peter predicted the 2008 financial crisis, so is he insane or is Peter right?  Let’s take a look at why Peter believes he’ll be “laughing best all the way to the bank”.

Who is Peter Schiff

Peter is a multi-millionaire American stockbroker, commentator and Gold Bug.  He is all over the financial media and he famously predicted the 2008 financial crisis.  Peter is called “Dr.Doom” for his pessimistic views. He is a financial contrarian and he believes that “Investor optimism is at odds with reality”.

Peter is a Crypto-critic and believes the economy is a “disaster” and a “financial Ponzi scheme”. In 2010 Peter launched his own precious metals dealership, now called “Schiff Gold”. Peter has always been bullish on gold and he believes that gold is on the “Launchpad to take off”.  Let’s take a look at why.

Why Peter Schiff is Bullish on Gold

Pete makes no apologies for being a gold bull.  He knows that he sounds old-fashioned with the bit coiners and he doesn’t care if he is labeled as a “nut”.  Peter says that he knows he is right and he will be vindicated in the end. 

Peter said it best in his typical style.

“You know, they say ‘who laughs last laughs best’ and I think I’m going to be laughing best… all the way to the bank when these predictions pan out”

Why is Peter so confident? Let’s take a look at his gold predictions.

Peter Schiff Gold Prediction: Gold to 10X to $20,000 USD

Peter is super bullish on gold.  And he isn’t looking for small gains or trying to make minor predictions.  Peter isn’t looking for $5000 gold anymore. He sees $5000 gold as a step in a long journey toward $20,000. Peter believes that a $30,000 gold value is far more likely. 

He says that a $30,000 value is where it needs to be to get the Dow Jones gold ratio in line with where he thinks it’s going to go.

Let’s take a look at the history of the Dow Jones and gold price

Gold to Align with Dow Jones

Historically, the Dow Jones and gold price was closely correlated.  In 1932 and 1980, the Dow was close to 800 and gold was 800.  The correlation was always below two to one, or close to a one-to-one ratio, as you can see in the chart below.

Dow to Gold Ratio via MacroTrends.Net

If that correlation were to return, and the Dow Jones is averaging over 30,000 at the moment, this is great news for gold. For that reason, Peter believes that the price of gold will go from $2,000 USD An ounce to $20,000 USD an ounce for a 10x increase.

If this were to happen, it would have a negative impact on the economy. And there would be a massive devaluation of the dollar to get us to that price.  And it would inflict the most pain on the most people. But Dr.Doom says you need to hold Gold before the downturn to protect yourself.  

Peter Schiff Gold Prediction: Gold Stocks to 50x and Gold Junior Miners to 100x

Peter believes if the gold price goes 10X, it will have a natural flow-on effect with Gold Junior Miners and Gold Stocks.  Peter is loading up on these stocks, and you can see exactly why.     

“Well, what does 10x gold price do to these gold stocks? I think they’re going to go up 50x.  At least five times what the gold price does.  And I think the junior miners can go up 100x.  Ten times what the gold price does.”

Peter noted that is what happened in the 1970s. When gold went from $35 to $800, Investors made a killing in gold stocks.  And although inflation has driven up the cost of mining, the price of gold will outpace the cost of mining it.  And the profits of these gold mining companies are going to surge and reward patient investors. 

Peter re-iterates his belief in the gold mining stocks.

 “You know, when these predictions pan out, and you know, where I think the most money is gonna be made is in these mining stocks.”

Final Thoughts

Peter is waiting for “economic reality” to send the gold price 10X, gold stocks 50X, and junior gold miners 100X.  If this happens, Peter will be laughing all the way to the bank.  But he does recognize that it is risky. 

“But if you’re comfortable with the risk, I think the rewards far outweigh it. It’s the best risk-reward trade out there.”

And Peter maintains that the real play is with the junior miners.  And NOT with crypto.  Let me know if you agree with the Peter Schiff Gold Prediction, or is Dr. Doom wrong on this one.  

Read the Investment Case for Gold by Experts such as Lynette Zang, to get some amazing insights on “how a little gold and silver can make you a millionaire.”



Financial Failure to Financially Free

As a lifelong financial failure with a young family and deep in debt, I was made redundant 3 times in 2 years and in serious trouble. I had a “Financial Awakening”, I learned about personal finance and gained a financial education to accumulate 7 figures in assets.

My personal goal is to invest in myself, compound my knowledge and build wealth using three simple strategies. Save more money. Make more money. Learn about money. I’m living proof, that through the power of financial education, anyone can achieve financial independence. My sincere hope is that you will be able to learn from my journey and my blog.

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