In the latest video of the Schiff Report, Peter explains why Black Friday and Cyber Monday are not healthy for the US economy, as so many people seem to believe. He then elaborates on how the markets have responded to the likelihood that Congress will continue to kick the can of deficit reduction down the road by avoiding the fiscal cliff.
“[The dollar] was rallying when we thought there might be a fiscal cliff. Now the dollar is selling off on the idea that we might avoid the cliff. Gold was kind of restrained when we though that we might go over the cliff. Now that more people think we might avoid the cliff, gold is starting to break out.”