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Russia Today’s Worlds Apart interviewed Peter Schiff yesterday about the ongoing debt problems of the United States. This long discussion addresses America’s toxic addiction to debt enabled by creditor nations, as well as America’s misplaced political priorities. Ultimately, all these problems will lead to a dollar collapse, which Peter suggests avoiding by investing commodities like physical gold and silver.

“We have really almost a parasitical relationship…with the rest of the world, with the world being the host and unfortunately, America being the parasite. We don’t have a balanced trading relationship. America imports all sorts of goods, valuable consumer goods and resources, and we export debt. We export paper, inflation.”

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CNBC’s Talking Numbers interviewed Peter Schiff yesterday to get his opinion on the surge in the gold price that followed the debt ceiling agreement. Not only did Peter explain the long-term bull case for gold, he also spoke about his investment strategy with silver and the other precious metals.

“We are headed back into recession… Janet Yellen, the first thing she is going to do as Fed Chairman is increase the size of the monthly QE. So all of that is going to be very bullish for gold. Gold is going to make new highs well above $2,000, and people are going to forget that this correction ever took place… We are in a major historic gold bull market.”

Watch the Interview Here

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Mario Draghi, President of the European Central Bank, was recently asked by Tekoa da Silva about the role of gold in central banks’ reserves around the world. Draghi’s short comments are an important reminder of why countries like China continue to stockpile physical gold at the same time that Wall Street banks are predicting its demise. Precious metals are one of the few havens from dramatic fluctuations in the price of the dollar.

“I never thought it wise to sell [gold]… For central banks, this is a reserve of safety; it is viewed by the country as such. In the case of non-dollar countries, it gives you fairly good protection against fluctuations of the dollar… Central banks which had started a program for selling gold a few years ago, substantially stopped… and by and large, they are not selling it any longer.”

Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffBlog
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!