Peter Schiff says: No.
At the VRIC, Schiff spoke on a number of topics and the message was clear: It is time for gold. More specifically he spoke about physical gold. Not ETFs, funds or certificates. All of these are paper or numbers referring to price action. None are actual gold. This is something I have been screaming to anyone who will listen. Get physical gold during this turmoil. There is no downside. Take the portion of your short term money, near term or cash and move it into gold. Buy this as insurance instead of taking a position in currency. Right now you do not realize you are taking a position in the US dollar that looking back upon was not a good idea. Schiff points out that when the Fed increased rates gold increased 9%. People thought it would tank but it has not. It has been quietly climbing. And people are buying. Are you one of them? You have Mnuchen talking up a weak dollar which also helps gold and China scolding the US for being protectionist because it wants to put America First. No one likes to sit down with a client and tell them that things could go bad quickly, it is much more fun to talk about the opportunities and there are great opportunities in commodities, precious metals, real and actual wealth.