“Look how weak the economy is, look how weak the recovery was… Now we’re going back into recession again, and [with] interest rates already at zero, all they can do is dial up the size of the QE… When people realize that QE hasn’t helped… and [that] the US economy is going to continue to deteriorate and we’re going to try to paper it over with a flood of money – that’s going to be a big wake up for the price of gold. And I think the price is going to go straight up.” - in CNBC
Related ETFs: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX), Novagold (NG), Market Vectors Gold Miners ETF (GDX)
Peter Schiff`s comments on the economy, stock markets, politics and gold.Visit the new website Schiff On The Markets for more exclusive content.
