Most investors see a bull market in U.S. stocks. Peter Schiff argues it is an inflation illusion. In this keynote from The MoneyShow Orlando (Oct. 16–18, 2025), he prices the Dow in gold, shows a 26-year bear market in real money terms, and explains why de-dollarization and exploding deficits point to a coming currency and sovereign debt crisis. You will hear the 1970s playbook, why closing the gold window still matters, and what rising gold and silver prices may be signaling for bonds, rates, and the dollar. He closes with what to own, what to avoid, and how to position before the next phase. About Peter Schiff Peter Schiff is an economist, author, and Chief Global Strategist at Euro Pacific Asset Management. He is known for warning about the 2008 financial crisis in advance and for his long-standing research on gold, currencies, and global macro risks. CHAPTERS 00:12 – Gold as real money and the Dow priced in ounces 01:11 – From 45 oz to 11 oz and a 1–2 oz target 03:12 – 1970s parallels and why today may be worse 04:59 – Nixon closes the gold window and dollar devaluation 08:21 – Gold’s surge to $850 and the Volcker reset 10:29 – Dollar reserve status, deficits, and offshoring 12:02 – Post-2008 QE and the setup for a dollar crisis 15:01 – Central banks buy gold and de-dollarization 18:04 – Inflation, rates, hyperinflation risk, and bonds 21:00 – Positioning now: foreign value, dividends, and miners 📅 Join us at the next MoneyShow Masters Symposium Sarasota, December 1–3, 2025 | Ritz-Carlton Sarasota Register now: https://sarasotamms.moneyshow.com/ More Episodes: Don’t miss future sessions from Orlando — full replays and expert insights coming soon: https://www.youtube.com/@MoneyShow/ Facebook: https://www.facebook.com/OfficialMoneyShow/ Instagram: https://www.instagram.com/moneyshow/# TikTok: https://www.tiktok.com/@officialmoneyshow?lang=en X (Twitter): https://x.com/moneyshow LinkedIn: https://www.linkedin.com/company/moneyshow/