Dow 50,000 Is a Mirage It’s Only 10 Ounces of Gold

The Dow Jones just closed above 50,000 for the first time ever – but is that really something to celebrate?

In this live Friday Gold Wrap, Peter Schiff explains why the Dow’s milestone is meaningless when measured in real terms. Priced in gold, the Dow has lost roughly 75% of its value since 1999. Inflation, not prosperity, is driving asset prices higher, masking a deep affordability crisis caused by government spending and monetary expansion.