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December 1, 2009

The Rise In Gold Is The Reaction To The Debasement Of Paper Money

Economist and Stern School of Business professor Nouriel Roubini just doesn't get gold fundamentals, says Euro-Pacific Capital President and U.S. Senate candidate Peter Schiff. Roubini says that gold’s continued rise it’s merely the speculative function of a bubble, not a reflection of fundamentals, Schiff notes.

“I have to respectfully disagree … the fundamentals do support higher gold prices,” Schiff said in a video report. “What he doesn’t understand … is that the government is changing the fundamentals with all the money it’s printing.”

“Governments all around the world are printing money, so that changes the demand. Commodities, and gold in particular, have to rise in price when governments are creating so much money and interest rates are so low.”

“That’s not a bubble, it’s just the reaction to the debasement of paper money.”

in MoneyNews.com

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.
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