Schiff led off talking about why he doesn't get any mainstream financial media attention anymore, partly responding to recent comments by CNBC contributor Guy Adami that Schiff was "bad for TV".
"They abruptly cancelled my appearance a day before I was supposed to go on," he said of a scheduled interview with Rick Santelli on CNBC. "They haven't tried to book me since. Obviously Santelli's team didn't get the memo that Peter Schiff's not allowed on."
"I think they want to shield the audience from my perspective," he continued. "Maybe they think they're doing their audience a favor by keeping me off the air."
He continues the interview, explaining why he suggests his clients constantly keep 5-10% of their capital in gold. When asked about how he personally invests versus how he advises his clients, he explains why he is the most overweight gold miner stocks that he's ever been.
Schiff also says we will need a gold standard again, which he thinks is inevitable, much to the dispassion of the government. "When they choose gold, which is the right choice, it'll only be because they've exhausted everything else that wouldn't work. When they admit we need a gold standard, the party's over".
"Gold keeps government honest, which is why the government doesn't want it," he said.
Schiff also talked at length about the Fed's most recent decision to not raise rates again in 2019.
"The Fed did a reversal. A complete 180," Schiff says about the Fed's most recent minutes. "They're never going to complete the normalization process," Schiff recounts saying in late 2018 interviews. "I'm one of the only people out there saying the Fed is BSing, but the markets believed it."
Schiff said either the Fed was deliberately lying in late 2018 when they said they would continue to taper and hike, or that they just didn't know. Either way, Schiff believes that we are now in the midst of a bear market rally - not a bull market - as a result.
"I said they were going to wait for an excuse to abort normalization because they couldn't tell the truth. They can't raise interest rates because there's too much debt," he says. "It has nothing to do with problems abroad, it has nothing to do with Brexit."
"This is permanent debt monetization," he says.
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