Peter Schiff began his latest interview with Greg Hunter of USAWatchdog by explaining the history of the United States government’s debt ceiling. Peter argued that the idea of a real debt ceiling is a fantasy, just like the Federal Reserve’s narrative of a broad economic recovery. Greg pointed out that some analysts are predicting a further plunge in the price of gold, but Peter defended the yellow metal by pointing to long-term historical trends.

There will be deflation in terms of gold. If you want to price things in gold, stock prices are coming way down in gold. Real estate prices are coming way down in gold. Consumer prices are coming way down in gold. Commodity prices are coming way down in gold. They’re not going to come way down in dollar bills, because the government can create as many of those as it wants…”

Video Length: 00:14:27

Highlights from the interview: