Today, Peter Schiff appeared on CNBC Futures Now and spoke about the ongoing negative sentiment about gold. Peter explained why he thinks gold can still “go to the moon” and why it is vital that investors keep an eye on the bond market and interest rates to get a real idea of how well the US economy is doing.
“When the gold market turns, it’s going to be vicious. I think it’s going to rally even faster than it went down. But rather than worrying about the top of the gold market – I don’t think there’s a top there – but there is a big top in the bond market. And this is the achilles heel of the US economy. And people were worried about tax hikes. Higher interest rates are much bigger tax hikes than what we were looking at when we were worried about the fiscal cliff or the sequester. This is big and it’s a tax hike on the US government. Not just on the American people but on the US government itself.”
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That’s actually pretty cool! The other guests are set to offer us their flank by bringing gold down somewhat further. That’ll make it yet another nice opportunity to get some more pieces of this barbarous relic,