GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Friday, August 19, 2011

Peter Schiff : Gold is money everything else is a poor substitute

Peter Schiff on RT America 19 Aug 2011 : Gold is a safe heaven treasuries are not , people who buy Treasuries think they are safe heaven they are mistaken and when they will figure it out they will go to gold , Gold is not in any bubble because if this was a bubble or a mania you would expect gold stocks to be outperforming the metal because that's where all the speculative money flows ...there is no floor to the fiat currencies as they keep printing them so there is no ceiling for gold to go to , Gold is like a thermometer on the economy , the yield on treasuries is negative , so how you get safety with a negative yield ? I think the people who are going to lose the most money are the people who are in bonds , people will lose more money in bonds than in stocks ...Gold is the one place there is not a bubble because gold is reflecting the loss of purchasing power of fiat currencies , Gold is not going up it is paper currencies that are losing value ... Gold is money everything else is a poor substitute

Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

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