CNBC’s Futures Now interviewed Peter Schiff yesterday to get his opinion on the long-term prospect for gold. Peter talked at length about gold, Janet Yellen’s horrible track record of economic predictions, and even the digital currency known as bitcoin.
“Look how weak the economy is, look how weak the recovery was… Now we’re going back into recession again, and [with] interest rates already at zero, all they can do is dial up the size of the QE… When people realize that QE hasn’t helped… and [that] the US economy is going to continue to deteriorate and we’re going to try to paper it over with a flood of money – that’s going to be a big wake up for the price of gold. And I think the price is going to go straight up.”
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