Recently by Peter Schiff: Japan Intervenes to Bail Out America.com
On Kudlow Report, Peter Schiff of Euro Pacific Capital discusses how inflation is causing gold to rise, and debates how high the metal can run.
Schiff mentions that the private Federal Reserve has changed to a new mandate of creating inflation rather than price stability. “These metal prices are going to keep going higher and higher as more and more people figure out that the Fed is going to rob them blind,” he says. “If you don’t want to be robbed, buy gold.”
According to Schiff, gold is still a bargain. He personally holds better than 50% of his stock portfolio in gold stocks. “Everything that I’m doing is to guard against the Federal Reserve stealing my wealth,” comments Schiff. “Everything the government spends is the money you’re going to lose if you’re foolish enough to keep it in dollars.”
Peter Schiff is president of Euro Pacific Capital and author of The Little Book of Bull Moves in Bear Markets and Crash Proof: How to Profit from the Coming Economic Collapse. His latest book is How an Economy Grows and Why It Crashes.
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