(Schiff)—Yesterday Peter joined Michael Gayed and Will Rhind on the Lead-Lag Report. They cover a variety of topics, including the future of the dollar, China’s role in the economy, the prospects of war in the Middle East, and gold’s path to a $3000 price point and beyond.
Early in the interview, Peter laments the possibility that the United States will decline economically. China is poised to surpass our economy as the dollar continues to weaken:
“I think the media is constantly writing China’s obituary. And I think they’ve got it wrong. Just like they downplay the significance of the problems in the US economy, they overplay the significance of the problems of the Chinese economy. I’m not saying it’s perfect over there in China. But I think they have a lot going for them that people are overlooking.”
Michael and Peter discuss the role of U.S. foreign policy– specifically having a military presence around the world– in driving up deficits and the debt:
“We’re all over the world. We’ve got our troops all over the world, but we can’t afford to deploy them. We can’t afford to provision them without borrowing money, and that is not sustainable. I mean, it’s going to crumble. I don’t think the world is going to pay an ever-increasing tribute to the United States to maintain this situation. I think it’s going to come to an end. Yes, it’s gone on for a long time, and our military has probably been part of what’s enabled it.”
With tension in the Middle East ratcheting up this week, Peter delivers a masterful explanation of why wars are terrible for the economy. The temptation to inflate combined with the physical destruction of productive goods mean wars inevitably impoverish all involved:
“You’re more likely to debase your currency with a war, and it’s actually twofold, depending on how big the war is. Wars can result in the destruction of goods, and there’s a destruction of productive capacity. So, you have less supply of goods in a war. A lot of times, if it’s a big war, you have to produce ammunition and military hardware at the expense of civilian consumer goods. So, wars tend to reduce the supply of consumer goods but increase the quantity of money. Governments today don’t want to pay for wars. They don’t want to tell the taxpayer, ‘We’re fighting a war, so we’re raising your taxes.’ … And they go out and borrow, creating bigger deficits. So, the Fed has to print more money.”
The trio also discusses Peter’s opinions on investments other than precious metals, including stocks and crypto. He argues that Bitcoin highlights the difference between large institutional investors and retail investors trying to cash in on a trend:
“Bitcoin peaked out in November 2021, and priced in gold, it’s almost 40% below that peak. Despite all that money spent, all that hype, all those ETFs in the market, all that institutional buying. So that tells you something. It tells you there’s a lot of people that have been selling their Bitcoin into all the hype. And I think the people selling Bitcoin are a lot smarter and know a lot more than the people who have been buying it.”
Peter is optimistic for the future of gold. With no end in sight for the Fed’s money printing, there’s a distinct possibility that gold’s price could increase by many multiples over the next couple of decades:
“I think the potential is much higher because we’re going to print so much money. We’re going to have so much inflation that the dollar is going to lose a lot of value, and you’re really going to need a lot of dollars to buy gold. If gold can go from $20 an ounce to $2,600 an ounce, it can go from $2,600 to $26,000, or even to $100,000. There’s no limit because, again, gold isn’t changing—it’s the value of the dollar that’s decreasing.”
Halfway through the interview, Peter also drops some trivia about his wife, Lauren. Did you know she both sang and acted in a 2022 Bruce Willis film? Check out the full recording (starting at 38:30) for the details!
Why One Survival Food Company Shines Above the Rest
Let’s be real. “Prepper Food” or “Survival Food” is generally awful. The vast majority of companies that push their cans, bags, or buckets desperately hope that their customers never try them and stick them in the closet or pantry instead. Why? Because if the first time they try them is after the crap hits the fan, they’ll be too shaken to call and complain about the quality.
It’s true. Most long-term storage food is made with the cheapest possible ingredients with limited taste and even less nutritional value. This is why they tout calories so much. Sure, they provide calories but does anyone really want to go into the apocalypse with food their family can’t stand?
This is what prompted the Llewellyns to launch Heaven’s Harvest. They bought survival food from multiple companies and determined they couldn’t imagine being stuck in an extended emergency with such low-quality food. They quickly discovered that freeze drying food for long-term storage doesn’t have to mean sacrificing flavor, consistency, or nutrition.
Their ingredients are all-American. In fact, they’re locally sourced and all-natural! This allows their products to be the highest quality on the market, so good that their customers often break open a bag in a pinch to eat because they want to, not just because they have to due to an emergency.
At Heaven’s Harvest, their only focus is amazing food. They don’t sell bugout bags, solar chargers, or multitools. They have one mission – feeding Americans in times of crisis.
What they DO offer is the ability for people to thrive in times of greatest need. On top of long-term storage food, they offer seeds to help Americans for the truly long-term. They want them to grow their own food if possible which is why they offer only Heirloom, Non-GMO, Non-Hybrid, Open-Pollinated seeds so their customers can build permanent food security on their own property.
