Fox Business: 'Gold Rush' Star Warns Washington Has 'Zero Interest' in Fixing the Debt, Fueling a Massive Gold Boom
Article by Stephanie Giang-Paunon in Fox Business
The stars of "Gold Rush" are digging up more than just treasure this season.
With prices surging to $3,800 an ounce — and miners pulling in nearly $100 million this season alone — Parker Schnabel told Fox News Digital that the frenzy isn’t about luck — it’s about a national wake-up call.
Schnabel, 31, one of the franchise’s most successful young moguls, said the gold boom is a direct reflection of Americans losing faith in the U.S. dollar.
When asked what this gold rush says about today’s economy, Schnabel didn’t hold back. "About the American economy. I mean … it’s a direct vote against the people’s confidence in the U.S. dollar, right?" he said.
He pointed to Washington’s spending habits and lawmakers’ unwillingness to confront the country’s financial problems.
"You look at the amount of debt that the United States has and the complete lack of attention to it from anybody in Washington … there’s zero interest in dealing with the debt."
Schnabel believes that the government is essentially backed into a corner. "Which means the only option is to inflate it away, right, and reduce the value of the U.S. dollar," he continued, adding that a weaker dollar ......