I think this is the calm before the storm. People don’t really perceive it. Gold shorts are going to lose an incredible amount of money. That’s probably one of the most foolish things you can do. There are a lot of great things out there to short. Gold is the last thing you should be shorting.
For central banks, gold is the safest reserve asset. It’s the only asset that is not somebody else’s liability. I think the world is going back to gold.
$5,000, $10,000 (per ounce) who knows how high it’s going to go. There is no real ceiling on the price of gold because there is no floor to the value of the dollar and other fiat currency. Gold is going to skyrocket.
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. Visit the new website Schiff On The Markets for exclusive content.
