The Fed at its last FOMC meeting announced that QT is officially ending in December. So I think another big catalyst will be the the launch of the next round of quantitative easing, which I believe is coming. I I I thought it would have actually happened already. So I'm kind of surprised they were able to make it through the entire year without doing it. Uh but I think 2026 will be the year that they, you know, crank up the presses again, especially if they continue to see uh weakness in the


longer end of the bond market. And then of course you do have, you know, some court decisions, you know, on the tariffs, on the firing of Lisa Cook. Uh I think that could have implications for the dollar and and for gold. As 2026 draws near, there's a quiet but undeniable tension building beneath the markets. The kind of pressure that always shows up right before something major snaps. Everywhere you look, the warning lights are blinking. Soaring yields, unstable bonds, foreign nations dumping US treasuries, and a Federal


Reserve that suddenly halted quantitative tightening long before anyone expected. And while most people stay distracted by elections, headlines, and daily market noise, Peter Schiff has been sounding the alarm for years. Gold's surge in 2025 wasn't just strong, it was historic. It shattered record highs again and again. As tech stumbled, crypto lost momentum, and stocks clung to life. Gold stood out as the one asset that seemed to recognize what was really happening. But Schiff insists that


gold's breakout was never the main story. It was only the warm-up because the metal he believes will reshape global finance in 2026 isn't gold. It's silver. Silver has waited quietly in gold's shadow, tightening like a spring while the world pretended everything was stable. Now, with the Fed stepping back, government deficits exploding and the dollar losing strength under its own weight, Schiff believes silver is positioned for the most explosive move of its modern era. If you hold even a


single ounce of precious metal, what happens next could shape the rest of your decade. This isn't hype. This is the setup. >> Well, even, you know, characterizing it as a pullback. I mean, we're 3,950 as we're talking. We've only pulled back from a level that we reached for a day, right? We had a a quick move up, but the fact that we're just below 4,000 doesn't really feel like it's a pullback. Um, it's only a pullback in relation to the fact that we almost hit 4,400, which was


crazy in that it only took us maybe a week to get there from hitting 4,000. So, if you throw that week or two out and just look at where we are, we've gone up a lot on the year. And I think sentiment, it's interesting how such a sharp decline can turn the sentiment to get everybody thinking that this is now potentially a bare market already in gold uh and that there's a lot of downside risk. I think that's kind of what the market was trying to do in shaking out uh some of the newer


entrance uh that you know may not really have the conviction or maybe came in with some leverage and have been flushed out of the market but we've created a lot more um I guess nervousness so that we can climb that wall of worry and so as far as I'm concerned if this is a correction it's probably already silver. I don't think there's that much downside in the price of gold from here. And the same thing with silver. I mean, silver didn't hold above 50, but it did take out 50, which is something it never did


really. In 1980 or 2011, we got almost to 55. Uh, and now we've had a pullback, but you know, we're holding 4850, which if you told people even a few months ago, silver would be a 4850. They wouldn't be, "Oh my god, it's pulling back." They'd be very happy that silver was at this price. And especially the gold miners. I mean, gold pulling back to $3,900 is great for all these gold mining companies. They're making a ton of money at $3,900 gold. They're making


a lot of money at $2,900 gold. Uh, and that never really got factored into the price. I just think we're early in a a broader bull market. I think that investors, you know, mainstream Wall Street investors, both institutional and and retail are just finally finally noticing gold and deciding that they should make it a part of their portfolio. And this is after, you know, gold is up, you know, 11 12x this century. uh the Dow is down, you know, close to 70% priced in gold since peaking in 1999. So gold has


outperformed the markets yet investors haven't even noticed that really until just recently. And I don't think that the fact that they've now decided that gold should be included in a portfolio, whereas before it had no place in a portfolio, I don't think that is going to change because oh my god, now gold's 3,900 and not 4,300. I think you're going to start to see more accumulation of gold uh from investors who never bought any. And I think the central banks that have been the drivers for the


past couple years, I think they're actually going to pick up the pace uh of their gold buying, I think more central banks that that weren't buying gold are now going to start buying as well. So, I think there's a lot of new demand coming from gold. And I don't see a lot of new supply. I mean, there's some uh but not nearly enough. >> People who come to this event, people who are in gold, they're usually used to being the contrarian. So if they see the mainstream coming in, maybe they feel a


little bit uncomfortable. So anything you'd say to those people? >> Well, I you know, I I think it's still contrarian in that now that the mainstream is dipping its toe in the water, it's still, you know, a small percentage of mainstream investors. So I think we've got a ways to go before it's kind of a crowded trade. Uh if you want to see, you know, something that seems cra crowded or or bubbleicious, look at what happened in crypto. Look at the enthusiasm. You know, this is I think the oldest uh


goal conference. You know, it's been going on for what is it 50 years? You know, the New Orleans conference. And there's, you know, there's more people here than last year, I think. But it's there's not a thousand attendees. It's less. I forget I mean 600 700. I was at the Bitcoin conference in Las Vegas over the summer. There were 3540,000 people who paid to attend. Um you know so we're nowhere near there. You know we we don't have that kind of level of interest or or enthusiasm. And


when I was at that conference nobody was worried about the Bitcoin price going down. I mean, everybody was 100% convinced it was going to a million or higher. But here, you know, you get a lot of people at the gold conference. Well, you know, they're they're nervous that we could get a pull back and they're not like crazy enthusiastic that we're going to be at $10,000$20,000 goal next year. Um, so, you know, I think it's still early. You know, the the people in in in Bitcoin are they're


convinced that they're early. And I was trying to point out when you have 35,000 people at a conference, it's not early. You know, I've been going to investment conferences. That's the biggest one I've ever been to. Uh, and so that shows you that, you know, a lot of people are already involved. You know, you're not you're not getting on the ground floor when the conference is that big. If you found this valuable, make sure to like the video and subscribe for more breaking updates.