"I think we all need to buckle up and get ready for what I think will be an inflationary path when this is all said and done," said Andy Schectman of Miles Franklin.
Andy Schectman February 2022 youtu.be
All eyes are on the US Federal Reserve as inflation concerns continue to mount.
Speaking to the Investing News Network, Andy Schectman, president of Miles Franklin, shared his thoughts on what the central bank's next moves could be and how precious metals could be impacted.
"They have chosen an inflationary path over austerity, over the tough decisions. And I have a really hard time believing that they will blow up the economy by letting rates rise," he said.
"I think they will raise them just enough to freak everyone out, to give them some wiggle room," Schectman continued. "And then they will come back in and they will accommodate, and they will stimulate and they will change their path and go back to lowering rates and more injections of money into the system."
He believes inflation is here to stay, and sees the US dollar and equities as risky places to be. In contrast, physical gold and silver offer security and should see substantial price rises in the future.
When asked why gold and silver haven't taken off yet, Schectman said they represent the canary in the coal mine.
"I think it's very, very important for the powers that be to mitigate the rise of gold and silver, even as all the other commodities are racing ahead," he explained. "If gold and silver are flying in the face of record 40 year inflation, it sends a message that the dollar really is probably in as big a trouble as a lot of us expect — but certainly they don't want that to be mainstream news and mainstream understanding."
Sourcing gold and silver is getting increasingly difficult, and Schectman recommended investors amass a position sooner than later. "There's no place safe to hide with the exception of precious metals in my opinion," he concluded. "So look at it as wealth, not as an investment, and start to de-dollarize."
Watch the interview above for more from Schectman on gold and silver.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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