Gold Déjà Vu? Schiff Says This Crash Looks Just Like 2008 — Massive Surge Ahead

Peter Schiff comparing today's gold action to 2008 is rich considering we're trading 40% higher than last year's lows. In 2008, gold actually held up better than equities during the initial crash before rocketing to new highs. The difference now is central bank demand remains relentless and COMEX registered inventories are still tight. Schiff's been calling crashes since gold was at $1200, but he's not wrong about the underlying monetary dynamics. The Fed's balance sheet is triple what it was in 2008. When this correction runs its course, the next leg up should be violent. Physical premiums haven't budged, which tells you the real money isn't panicking.