Peter Schiff’s Gold Videocast (1/14/16)

Find a full transcript here: http://schiffgold.com/commentaries/20…

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0:20 – In 2015, the Fed wanted to have its rate-hike cake and eat it too by talking about raising interest rates, but not actually doing it.

0:50 – By December, the Fed had backed itself into a credibility corner. It had no choice but to raise rates to prove it had confidence in the economy and the markets.

1:30 – Since the rate hike, the air is already coming out of the bubble.

2:20 – The Atlanta Fed’s estimate for fourth-quarter GDP is just 0.8%. It’s possible that number could be negative by the time it’s revised.

3:00 – The Fed just blessed the health of the economy, so how will it execute an about-face and maintain its credibility?

3:45 – What does this mean to the price of gold?

4:30 – The first rate hike in December was not the beginning of the tightening cycle.

5:10 – The rally in gold that began when the Fed hiked rates is going to continue and accelerate.

5:45 – Gold is still an incredible buy, because most people are still wedded to the narrative of an economic recovery.

6:30 – The Fed will have to return with quantitative easing, which will trigger the mother of all rallies in gold as investors quickly reverse their bets.

7:35 – Silver is also still very cheap. If the price of gold goes up, then the price of silver is going to go up even more.