Kitco News speaks with Peter Schiff to get
his forecasts for gold in this special outlook edition. Last time
Schiff was on the show, he said he expects gold price to take a “rocket
ship back up” and we wanted to know if he has since changed his tune. He
is still bullish on gold and says the U.S. economy is not as strong as
people perceive it to be. “I think [gold] is set up perfectly and I
think it’s still on that launch pad,” he says. “I do believe you are
going to see panic buying in the gold market because it’s really going
to be panic selling of the dollar.” Schiff adds that too many people
believe in what he called a “phony recovery” and warns that a rude
awakening is coming when the Fed, instead of raising rates, launches a
QE4 to keep the economy from slipping back into a recession. Tune in now
to find out why Schiff doesn’t think the Fed can raise rates and why he
thinks the economic data isn’t as accurate as it may seem. Kitco News,
December 17, 2014.
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