The Bond Bubble and the Dow’s True Value (Video)

On Friday, Peter Schiff appeared on CNBC’s Closing Bell to talk about the fundamentals underlying the recent rally in the stock market. Of course, if you measure the Dow in terms of real money (gold), it has dropped in value since 2007.

“Money is losing value. That’s what’s happening. And people who recognize that are getting rid of their dollars and they’re buying other things…Look at precious metals. I think you’ve got a lull before the storm here in gold. A lot of the Wall Street traders are writing gold off. They’re saying the rally is over, because there’s nothing to worry about, the crisis is over. That’s not why gold was going up. Gold was never rising because of a crisis. It was rising because of money printing, inflation, cheap money.”

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