Peter Schiff and Paul Krake got into a heated discussion about gold on CNBC’s Futures Now. They argued about gold’s role as a hedge against inflation and how they expect it to perform in the face of continued central bank money printing.
“I’ve been buying gold for over twelve years… I’ve been recommending it to my clients… Not once have I bought gold because of geopolitical risks. I’ve never even considered that. People that talk about that are the people that don’t buy any gold. I’ve been buying gold for the same reason for the last decade and it’s because central banks are creating too much money. There’s too much inflation, interest rates are too low. So I want to store my purchasing power in something central banks can’t print.”
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