- India Gold Premiums Soar as Demand Outstrips Supply, Wall Street Journal
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Peter Schiff appeared on Fox Business this morning to talk about the market’s perception of gold, the extraordinary surge in gold sales this month, and hidden inflation in the US and Japan.
“Gold has been up for 12 consecutive years. It’s entitled to a correction. It’s incredible how the media has jumped all over this… We’re still at $1,400. I think it’s a bit premature for the people who have been advising their clients not to buy gold for the past decade to be patting themselves on the back.”
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Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffBlog
Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffBlog
In his latest piece on Forbes, Richard Lehmann reviews the simple, intelligent, historical reasons for owning gold, and argues that a sell-off by short-term speculators has not changed gold’s fundamentals.
“Not to own gold is to trust government at all levels and in all times to be able to do the right thing to maintain the economy on a steady course and manage the affairs of man in a fair and orderly manner. I could stop there and have won the argument, but that would not be fair to gold’s critics, so let me give them some things they can shoot at.
Gold is criticized as a relic of the past, but that is precisely why it is still so relevant. At no time in history has it lost its appeal as a store of value and, in fact, it represented the universal money until nation governments and warfare made the creation of paper money a necessity.”
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Yesterday, on CNBC’s Kudlow Report, Peter Schiff made the case that the economy is not improving, that inflation is worse than reported, and that a dollar crisis lies ahead.
“The money is being printed, that is the definition of inflation. We are expanding the money supply… Prices are rising. Everybody who shops knows that. But eventually you’re going to see much higher increases in consumer prices. The government isn’t going to be able to hide that with the CPI and the government is going to be in a box… One way or another we’re going to have this dollar crisis. It’s not a matter of if, it’s a matter of when.”
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Today, Peter Schiff debated long-term gold fundamentals with Doug Kass on CNBC’s Futures Now.
“If the fundamentals actually changed that had been making me bullish on gold for the last decade…then I would change, but they haven’t. The fundamentals that started me buying gold when it was under $300, those fundamentals are still here. The Federal Reserve is doing exactly what I thought they were going to do, which is why I’ve been buying gold all these years.”
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Walter Block on Gold and Sound Money
Casey Research recently published an interview with Walter Block, a well-known Austrian economist who teaches at Loyola University and is a Senior Fellow of the Ludwig von Mises Institute. Block talked at length about the gold standard, the Federal Reserve’s disastrous money printing, and just how bad the economy really is. Enjoy!
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