I talk about the importance of having some food storage.
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Unlike the “legitimate bull markets” of many foreign markets, Peter Schiff believes the US is merely experiencing a “rally in a bear market,” and is lagging the rest of the world “for a reason.” The worst is not over, according to Euro Pacific Capital’s Schiff, who predicts the Dow will fall another 90% from current levels when measured against gold. A longtime dollar bear and gold bull, he foresees gold hitting 00 per ounce “in the next couple of years,” and predicts the Dow and gold will trade on a one-to-one ratio vs. the current level of around 9.7-to-1. Schiff believes gold is currently “climbing a wall of worry” but will eventually become as hot as tech stocks in 1999 and start moving up 0 per day. Schiff’s forecast is based on his view the US dollar is going to collapse under the weight of our massive deficit and reckless policies of the Obama administration, which he compares to the massive spending programs of the 1960s, which paved the way for gold’s ascent in the 1970s. “Obama is making the same mistakes as Bush, but he’s doing them on a grander scale,” says Schiff, who is running for US Senate in Connecticut as a Republican. In addition to gold, Schiff remains bullish on Asia, most notably China…
Video Rating: 4 / 5