The media is making a big deal about the Dow Jones closing above $49,000 for the first time. But with gold closing above $4,490, today’s 49,462 close is worth just 11 ounces of gold. In Sept. 1999, the Dow was worth over 43 ounces of gold. That’s a 74% decline over 26 years.
— Peter Schiff (@PeterSchiff) January 6, 2026
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2 responses to “Perspective”
Peter, like every contrarian, has ALWAYS been RIGHT ON THE MONEY….but has issues with exact timing. Yes, perspectives on all of this are CLEARLY IMPORTANT. When one looks at what an OUNCE of gold will purchase today versus in 1920, it is about the same….it is the DOLLAR that has become WORTH less….
And when the DOW is worth 1 ounce of gold, that supposedly is when you buy.