Peter Schiff
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Appearances Over Time
Podcast Appearances
So by the time the industry is able to attract enough capital into the sector, because nobody's been interested in gold mining, right?
It's been dead.
In fact, crypto, I think, really harmed the industry.
It created a big distraction.
Of course.
Where people are like, well, why should I buy gold?
I got Bitcoin.
It's better than gold.
It's gold 2.0.
So the industry was really starved for capital.
They will, yes, over time and people will start melting down their jewelry because they need money and the prices are higher.
And yes, all this will happen, but it's not going to stop the price of gold.
Look, the price of gold was $20 an ounce.
from 1789 to 1933, right?
For like 150 years, it was $20 an ounce.
And then Roosevelt devalued and got 35.
But if gold can go from $20 an ounce to 4,000, right?
Where can it go from 4,000?
I mean, it can go to 100,000.
Obviously, we can keep debasing the value of currency.