Epoch Times interviewed Peter Schiff about the state the US economy and why the world needs to stop following America towards financial ruin. Peter spoke at length about foreign relationships with the US dollar and the role gold might play in a world without the dollar.
I think about 3 years worth of gold was liquidated in a couple months [in 2013]… I think it was bought by foreign central banks. China, I think, was a big buyer. And the significance of that is that when gold does reverse and people who sold it want to buy it back, because they realize that there are problems, that there’s more inflation than they thought, that the economy isn’t recovering, that the Fed isn’t on the verge of ending QE… When they want to buy the gold back, where are they going to get it? It’s gone! [China] is never going to sell it.
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