Peter Schiff appeared on Fox Business this morning to talk about gold, and its bright future when the world wakes up to the real state of the economy.
“I think [gold] is preparing for another big move up. A lot of people just don’t understand the situation. People think that the problems have been solved…that the global economy is out of the woods, that the worst is over for the US…They think there is no reason to own gold…I don’t know exactly when, but I would be shocked if we went for another two or three years and we did not have an explosive move up in the price of gold.”
While conversing about Japan, Peter forgot to mention that just because prices are not going up that doesn’t mean there’s no inflation. Inflation could be keeping prices from coming down.