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Peter Schiff Says Gold to $5,000/ounce and US Market Rally Will Fade
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Posted on 09/24/09 at 11:35am by Eric Mancini
Peter Schiff, President of Euro Pacific Capital, stated in a web cast today on Yahoo! Finance that he sees gold reaching $5000/ounce and the US market faltering. He believes due to the governments poor policy decisions over the past 9 years, and recent amplification of these same mistakes the US dollar is set to fall to fresh lows versus commodities and other currencies. Schiff said China and other Asian markets are especially fertile ground for investment as their underlying economic conditions and policies are far superior to the US and are immune from a weakening US dollar. Investors can emulate Schiff's advice by buying Ishares China ETF (NYSE: FXI) or SPDR Gold Shares (NYSE: GLD).
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Peter Schiff wont be far off
by Tom on 09/25/09 12:49am
Peter Schiff wont be far off this mark... It all boils down to economics 101
The Fed has run out of magic tricks.. Weve all seen the boom... now get ready to see the BUST!..
Artificially low interest raes wont last much longer... get out of US stocks.. any nominal gains there will be severely offset by losses due to massive inflation....
If you love somebody tell them the same....
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