Peter Schiff Believes in Gold and China

By on October 1, 2009

Peter Schiff was interviewed by Aaron Task and Henry Blodgett a few days ago and hasn’t changed his tune as far as gold and the stock market are concerned. Schiff believes U. S. stocks will fall by up to 90% in relation to gold, which he sees hitting $5,000 an ounce over the next several years.

Schiff believes one can make money in foreign equities; especially China where he sees an eventual de-pegging of the currency and a doubling or tripling of the renminbi in relation to the dollar. He said the gold bull market would eventually catch fire with gains of $100 a day because President Obama is trying to clean up the mess he took over by making a bigger mess.

Source:

http://www.businessinsider.com/henry-blodget-peter-schiff-us-stock-rally-and-dollar-doomed-gold-going-to-5000-2009-9
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