The Moral Hazard of Government Stimulus (Video)

Yesterday, Peter Schiff appeared on CNBC to comment on the effect of the Italian elections on the market, and the greater economic crisis of Europe.

“I think the markets were due for a sell-off anyway, and this is an excuse…I think markets had rallied on the…false belief that the crisis was behind us…Gold is the only thing that is making sense today…It’s up about 13, 14 dollars, but it should be a up a lot more. I think the gold sell-off was way overdone, and if you’re looking for a trade, buying gold is it.”

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