and Jim Rogers agree that inflation is coming and the place to invest
is in gold and commodities. Schiff feels that the dollar is going
to continue to get weaker which will only strengthen the value of
commodities. In a recent interview with CNBC Schiff said, “I
don’t know when [the dollar] is going to strengthen. The dollar
isn’t the new yen, it’s unfortunately the new peso.”
Rogers agrees as he told CNBC, “The true inflation rate in
America? It’s certainly at least 6 or 7 percent, the US government
lies about it, as you know, everybody who shops knows that prices
are up, everybody except the US government, and I wish we knew where
they shopped so we can shop there too and get good prices.”
Rogers agree that we are still very early in this bull market for
gold. The price of gold bottomed in 2001 at around $225 an ounce.
Gold currently trades at over $1000 an ounce and many gold bull
investors feel there is much upside potential. Schiff actually said
that he sees gold reaching $5000 an ounce in the future.