Gold is the new bubble. I would not be surprised if Schiff has economic interests in getting people to buy gold, reminiscent of Glenn Beck's endorsement of Goldline.
He's looking at it in an Amero-centric way. Gold may reach $5000 per ounce (highly doubt it), but that is largely because of the devaluation of the dollar. So if you have a lot of wealth now, buying gold might protect the value of what you have, but it likely won't provide you much return because it is not going to keep pace with dollar inflation.
The saddest thing? Gold investment does not help the economy.
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Gold is the new bubble. I would not be surprised if Schiff has economic interests in getting people to buy gold, reminiscent of Glenn Beck's endorsement of Goldline.
ReplyDeleteHe's looking at it in an Amero-centric way. Gold may reach $5000 per ounce (highly doubt it), but that is largely because of the devaluation of the dollar. So if you have a lot of wealth now, buying gold might protect the value of what you have, but it likely won't provide you much return because it is not going to keep pace with dollar inflation.
The saddest thing? Gold investment does not help the economy.