The U.S. dollar is declining more slowly, but this is going to alter. We are going to win the race to the bottom …
Money printing by the Fed and Congress is off the charts. This is why money manager Peter Schiff thinks precious metals are a no-brainer financial investment. Schiff says, “It’s not that gold is getting in worth, it’s that fiat currencies are all losing value. Gold is the one steady factor. It’s the something governments can’t develop out of thin air. Every currency in the world, other than the dollar, are striking brand-new record lows against gold. You require more Euros, Rands or Aussie dollars to purchase an ounce of gold … The U.S. dollar is losing value more gradually, but this is going to change. We are going to win the race to the bottom … People need to transform their dollars now into gold or silver. If you believe the price of gold is increasing now, wait til the dollar is the weakest of the currencies … That’s going to accelerate the appreciation of gold … which’s going to put gold in the spotlight as the replacement to the U.S. dollar as the main reserve property for worldwide central banks.”
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with cash manager and economist Peter Schiff, creator of Euro Pacific Capital and Schiff Gold.
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