Global confidence in the dollar is already fragile. Any serious move into gold signals that investors no longer trust Washington to manage debt or preserve purchasing power. This is more than a market event. It is a warning that the financial system is teetering on the edge and a crisis could ignite at any moment.
Imagine the effect on gold's price if investors worldwide really start to question the sustainability of the US's debt increases (and ability to repay without completely destroying what's left of the dollar's purchasing power). pic.twitter.com/lANoAMMCvY
— David Sommers (@dgsommersmkts) September 5, 2025
Gold just hit $3,600, a new all-time record high. It's doing exactly what one would expect with the Fed about to cut rates into rising inflation. But Bitcoin is doing nothing. Priced in gold, it's down 15% from its 2021 high. If you picked Bitcoin, you bet on the wrong horse!
— Peter Schiff (@PeterSchiff) September 5, 2025
Lower interest rates won’t “help” the economy this time. The markets will see through the political nature of inappropriate rate cuts despite rising inflation and soaring budget deficits. The dollar will sell off and bond yields will rise, pushing up inflation and unemployment.
— Peter Schiff (@PeterSchiff) September 5, 2025