Peter Schiff Says Gold to $5,000/ounce and US Market Rally Will Fade

September 26th, 2009

Peter Schiff, President of Euro Pacific Capital, stated in a web cast today on Yahoo! Finance that he sees gold reaching $5000/ounce and the US market faltering.

Friday, Sept 25th, 2009

He believes due to the governments poor policy decisions over the past 9 years, and recent amplification of these same mistakes the US dollar is set to fall to fresh lows versus commodities and other currencies.

Schiff said China and other Asian markets are especially fertile ground for investment as their underlying economic conditions and policies are far superior to the US and are immune from a weakening US dollar.

Investors can emulate Schiff’s advice by buying Ishares China ETF (NYSE: FXI) or SPDR Gold Shares (NYSE: GLD).

Source: Infowars

2 Responses to “Peter Schiff Says Gold to $5,000/ounce and US Market Rally Will Fade”

  1. Bifurcatio Says:

    Can anyone tell me how a true patriot moves his money offshore to invest in foreign stocks or commodities? Isn’t this exactly what the globalists do? Who is Peter Schiff, and what is he in regard to keeping a strong country here at home?

  2. I1 Says:

    They don’t. Silver eagle coins are minted by the US treasury as per the constitution and are 1oz. fine .999 silver. Same with gold eagle coins. Why buy GLD etf? That defeats the whole purpose of owning real money. A million in gold bullion fits in a shoe box.

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