Peter Schiff did an interview with Rick Wiles of TRUNEWS on Monday and said $5,000 gold is coming.

Peter reiterated his belief that the economy is already in a recession, and Fed will drop rates back to zero. After that, he said the central bank will initiate another round of quantitative easing. He made his case by explaining how the jobs numbers aren’t nearly as good as the government spin-doctors are saying, pointing out evidence of looming stagflation ahead, and making a compelling case that another real estate crash is likely in the near-future.

With a meltdown on the horizon, Peter said he still believes $5,000 gold is coming.

[Gold is] getting close now to $1,300 per ounce, and I think that’s going to be a key level. Once we get above there I think it could be a pretty quick shot up to $1,500 to $2,000. The high from 2012 was about $1,900. I think we’re going to take that out by next year. I still think $5,000 gold is coming.”

Audio Length: 00:27:29

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Highlights from the interview.