CNBC’s Futures Now spoke with Peter Schiff last night about the long-term outlook for the gold market in the face of the Syrian crisis and the Fed’s talk of tapering. Peter also answered a question from the audience about the likelihood of the government confiscating physical gold in the event of a major economic collapse.
“I think we’re going to have a huge rally. I think we’re going to make new highs. I don’t think gold ever really lost that safe haven status. Only temporarily, maybe people were confused based on the rush to sell in a short window. But I think the fundamentals are fantastic and I think Syria really doesn’t make that much of a difference in the scheme of things… It’s a monetary problem that we have. We have a dollar crisis coming, a bond market collapse coming, and gold is going to be a safe haven from all of that.”
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