Schiff and $50 Silver on CNBC (Video)

Peter continued his interview on CNBC yesterday, talking about silver alongside Pan American Silver CEO Geoffrey Burns, who predicts $50 silver at some point in 2013. Both Peter and Burns emphasized the long-term strength of precious metals in spite of short-term losses:

“You’ve got a perfect storm coming in the future, because miners aren’t going to be able to produce enough of this stuff, because it costs so much money to get it out of the ground. Yet the supply of paper money is going to go through the roof, just at the time that the supply of gold and silver is shrinking. And all of a sudden, you’re going to have the whole world waking up to this inflationary nightmare…”

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