Gold Soars Above $1900 As USDollar Plunges

After spiking on Tuesday after Trump’s “no deal” tweet, the USDollar has been in free-fall, tumbling to three-week lows this morning…

Source: Bloomberg

That USD weakness has sparked a bid under precious metals, pushing gold futures back above $1900…

And silver futures are breaking out…

As Peter Schiff recently noted,

“The problem is once you accept the false premise that government stimulus actually helps the economy – that it really is a stimulus – then you’ve kind of lost the argument. Because if borrowing and printing $1.6 trillion, if that’s a good thing, why isn’t borrowing and printing $2.4 trillion a better thing? Because you put the Republicans in the position of arguing that 2.4 trillion is too much of a good thing — that somehow, if we just create 1.6 trillion out of thin air and spend it, that’s really going to help. But if we push it to 2.4, it’s actually going to hurt. Why? I mean, when does something good suddenly become something bad? “

Is this the start of a herd-panic at the prospect of $7 trillion in Biden/Harris/AOC stimulus/MMT?