The sharp rise in gold prices is alarming and points to something serious — as economist Peter Schiff warned, “Something big is about to happen.” Gold has crossed $4,370 an ounce, rising over 10 % in a week. When gold rises this fast, it usually signals fear — fear of war, economic collapse, or loss of trust in paper money. So, what could this “big event” be? https://www.businesstoday.in/latest/economy/story/something-big-about-to-happen-economist-peter-schiff-as-gold-hits-4370-498723-2025-10-17
Could it be a war? A nuclear war? A collapse of the U.S. dollar? Or a deep global recession? Let’s look at the possible reasons behind this growing unease.
1. War and Nuclear Tension:
The situation between India and Pakistan remains tense. Pakistan’s refusal to adopt a No First Use nuclear policy keeps the threat alive. Studies by the Belfer Center warn that both countries have very little time to react in a crisis — which makes miscalculation extremely dangerous. Add to that the continuing Russia-Ukraine conflict and Middle East instability, and the world looks like a tinderbox waiting for a spark.
2. De-Dollarization:
Across the world, countries are slowly reducing dependence on the U.S. dollar. Central banks — especially in China, India, and Turkey — are buying record amounts of gold. A World Gold Council report notes that 44 % of central banks are now actively increasing their gold reserves to reduce reliance on the dollar. This move signals weakening faith in America’s currency dominance.
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3. U.S. Recession Fears:
The American economy is slowing. Reuters and J.P. Morgan recently estimated a 40 % chance of a U.S. recession in 2025. High debt, trade tensions, and political uncertainty could push the world’s largest economy into a slowdown — triggering global tremors.
4. Market Panic and Safe Havens:
Stock markets have turned volatile, and investors are rushing to safe-haven assets like gold, silver, and even Bitcoin. Central banks now hold more gold than U.S. Treasuries for the first time in decades. That itself is a silent vote of no confidence in the stability of the dollar-based system.
In simple terms, rising gold prices are like an early warning siren. The world is nervous — about war, money, and the future of global order. Whether it’s a nuclear confrontation, a dollar collapse, or a deep recession, Peter Schiff’s words echo louder each day: something big may indeed be about to happen.