Peter Schiff Warns Right Now This Is The 'Riskiest' Financial Asset Long-Term: 'Investors Need A New Safe Haven'

Notable economist Peter Schiff recently expressed concerns about long-term U.S. Treasuries and suggested gold as the new safe asset for investors.

What Happened: Schiff shared his views via a tweet on Wednesday, stating, “Right now one of the riskiest financial assets is long-term U.S. Treasuries. But for the past several decades they’ve been the go-to, risk-off asset. Investors need a new safe haven asset and the only one left standing is #gold.”

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His comments come amidst fears of a “trifecta of doom” – a rise in bond yields, oil, and gold that he warned could signify entrenched inflation and a loss of faith in the Federal Reserve and the U.S.’s fiscal solvency.

Why It Matters: Schiff has previously expressed concerns about the potential impact of a rise in bond yields, oil, and gold, which he refers to as a "trifecta of doom." He warns this could indicate entrenched inflation and dwindling confidence in the Federal Reserve and the U.S.'s fiscal solvency.

He also challenged the interpretation of recent core CPI data, stating that it does not reflect the real inflation situation, which he believes is linked to the surge in public and private debt.

With these concerns in mind, Schiff suggests investors consider gold as a safer asset amidst potential financial instability.

Peter Schiff Wikimedia Commons

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