Schiff on Land Development Podcast: Gold Is the Real Digital Asset

Peter joins the Land Development Podcast to walk through why gold still matters as money, how the Fed’s policy choices and the dollar’s decline will squeeze consumers, and why housing and credit are primed to reprice. He also lays out why tokenized, “digital” gold is finally getting attention from the crypto crowd and offers concrete portfolio moves for readers who want to hedge against policy-driven losses.

He starts by placing gold in a broader, historical context — not as a speculative play but as a unit of account relative to money supply and other assets — and notes where current price relationships suggest mispricing:

I think you can look at gold in relation to money supply. You could look at it in relation to other assets, other commodities, and try to look to some historic relationships and how gold fares now relative to how it has over time measured against those other assets and things like that. But I think that based on where gold is now around $5,000, if you look at the Dow, the Dow was worth about 10 ounces of gold. Yeah, the Dow was down about 75% priced in gold since its peak in 1999. But I think 10 ounces is still relatively expensive for the Dow.

Turning from metal to men, Peter is skeptical of the narrative that the new Fed pick will be a monetary hawk. He argues political incentives matter and that an assurance of easy policy is what likely won the job:

There’s no way Trump would have picked a guy if he thought he was going to be a hawk. I mean, the whole problem he had with Powell is that he’s not cutting rates fast enough and deep enough, and he’s not doing more QE. So I’m sure that Warsh only got the job because he assured the president that he was going to be, you know, easy, that he was going to be cutting rates and print money.  

From there he connects easy money to currency depreciation, warning ordinary people that the dollar’s decline won’t be abstract — it will show up as higher prices and costlier credit that strains household budgets:

The dollar is going to go down. And so everything is going to be more expensive. I mean, so consumers are going to have to get used to paying much higher prices for things. I mean, if you think that there’s an affordability crisis now, just wait, things are going to get a lot less affordable. And ultimately, it’s not just consumer goods prices that are going to go up, but also the cost of credit borrowing money is going to get more expensive.

On digital assets, Peter says he sees the crypto industry circling back to what gold always offered: a scarce, non-sovereign store of value. He is openly receptive to tokenized gold — a blockchain-backed claim on real metal — as a practical way to marry gold’s monetary properties with digital convenience, and to do the job Bitcoin claims it can’t:

I’m getting approached almost every day by another company that’s tokenizing gold and they want to talk to me about it. So I think the crypto industry is finally recognizing gold. … Digital gold would be tokenized gold, would be digitally representing actual Gold so that the token is backed by the gold. … Tokenized gold works perfectly on a blockchain and it does everything that Bitcoin is supposed to do but can’t.

Finally, Peter outlines the practical defensive moves investors should be considering now that policy distortions are forcing big reallocations. He urges people to recognize mispricing and to shift into assets that preserve purchasing power rather than relying on the dollar or speculative bets:

Well, people should be thinking about ways to hedge themselves, how to reposition their portfolio to minimize the loss and potentially profit from the events. You make money in the market if you recognize what other investors don’t and you take advantage of the mispricing of assets. So you have an opportunity to sell US stocks, US bonds, dollars, crypto, and get into gold and silver, foreign stocks, emerging markets, commodity focused investments. I mean, that’s where the money should be. And it is moving in that direction.

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