Peter Schiff recently appeared on RT News and laid out how he sees gold prices and the US economy moving into 2017.

Inflation vs. interest rates, the stock market bubble, and downturns in mortgage/auto financial markets were a few of the topics Peter provided insights and predictions about. He also dispelled four economic myths surrounding the Fed's positive outlook, Trump's fiscal plans, and how inflation impacts gold prices.

Myth #1: Fiscal stimulus means no more monetary stimulus.

The fact is, the more fiscal stimulus we get the more monetary stimulus we need. There is no way to finance government deficits unless the Fed continues to print money. Higher deficits mean the Fed can't raise rates significantly because the government couldn't afford to pay the interest on the national debt and would default.

Myth #2: Only Trump is good for the stock market.  

Trump's impact on stock prices is no different than Clinton's would have been. Many of the investors who saw Trump's ascension as the beginning of the market's descent are now buying stocks. It's a perverse irony that suggests the irrational exuberance of the current asset market, a place where any event can be seen as a justification for a move up.

Myth #3: Interest rates will rise proportionally to inflation.