24K99 News Wall Street bigwig, SchiffGold director Peter Schiff pointed out that if the price of gold could rise from $20/ounce to $2,600/ounce, then it may reach $26,000/ounce, or even $100,000/ounce.

(Screenshot from: Bitcoin.com)

Peter Schiff shared his views on global economic issues, including the weak U.S. dollar, the resilience of the Chinese economy, and the impact of U.S. foreign policy on national debt. Schiff warned that inflation could worsen due to war, and he predicted that as the U.S. dollar continues to weaken, the price of gold will rise significantly.

Last week, Peter Schiff participated in the Lead-Lag Report program with Michael Gayed and Will Rhind, discussing urgent global economic issues, from the devaluation of the U.S. dollar to the increasingly tense situation in the Middle East, and the potential surge in gold.

Schiff warned that contrary to media reports, the Chinese economy continues to grow while the U.S. economy faces serious risks. He also criticized U.S. foreign policy for raising national debt.

Schiff said: "Our military is stationed all over the world, but if we don't borrow money, we can't afford to provide for them... I don't think the world will pay more and more tribute to the United States to maintain this situation."

Regarding the economic impact of war, Schiff emphasized the risk of inflation.

He said, "You are more likely to devalue your currency in the war, which is actually twofold, depending on the scale of the war."

The renowned gold bull explained that war often destroys production capacity, reduces consumer goods, and increases the money supply. He predicted that as the US dollar weakens due to continuous printing, the value of gold may soar.

He remains optimistic about the future of gold, expecting the price of gold to rise significantly over the next few decades as the US dollar depreciates.

The economist said, "If gold can rise from $20/ounce to $2,600/ounce, then it can rise from $2,600/ounce to $26,000/ounce, or even $100,000/ounce."

Last month, Peter Schiff said that gold was "having its best year since 1979, when it rose by 126%." He emphasized that gold has risen over $540 this year, marking its "largest dollar increase in history." He mentioned, "Investors still haven't noticed the bull market or added mining stocks to their screens."

On September 20th, Schiff wrote in an article: "Gold is having one of its best years ever, up over 26%, poised to surpass the 32% rise in 2007. The price of gold is set to have its best year since 1979 when it rose by 126%. However, GDX is up only 31%. This means that investors have yet to notice the bull market or add mining stocks to their screens."

GDX is the code for the Vaneck Gold Miners Exchange Traded Fund (ETF). This ETF tracks the performance of companies engaged in gold mining and related industries.

Schiff has been warning about the state of the US economy. He emphasizes that preparing for the upcoming inflation requires accumulating gold.