Peter Schiff

Energy.

And you don't need anything just to create money out of thin air.

The Fed just adds zeros right on a computer.

And so we're able to create dollars that the world wants, and we get all their stuff.

We didn't have to produce it.

Then the world takes the dollars that they earn from us and they buy stocks, they buy real estate, they buy our bonds.

And so as a result, our asset prices have gone up and goods prices have stayed down and interest rates have been relatively low because we're able to borrow what the rest of the world saves, even though we don't save very much ourselves.

and we don't produce very much, we get the benefit of all these goods that are coming in, and we get all the foreign savings that are financing our spending.

And I think all of that is about to change.

I think that when Donald Trump talked about Liberation Day,

ironically, it was the rest of the world that is going to be liberated from the burden of having to support the U.S.

economy.

When Trump says that the world has been screwing us over and ripping us off, he's got it backwards.

We've been screwing them over because we've been getting their stuff and all we do is export our inflation.

They get our paper.

We get things that make our lives better and they get our IOUs.

And then, you know, they use our IOUs to buy up our financial assets.

But I think this is all changing.

And I think what we're seeing now in the price of gold, where it's finally broken out of its consolidation, because after gold went from 300, 250, 300 to 1900, right?

That was a 10-year move.