Peter Schiff – Gold, Oil & The Fed’s Greatest Fear

Thursday, March 22, 2012
By Paul Martin

KingWorldNews.com
March 22, 2012

With continued volatility in gold, silver, oil and stocks, today King World News interviewed Peter Schiff, CEO of Europacific Capital. Schiff told KWN it’s inflation that is causing the move in stocks. He also discussed gold and the mining shares, but first, here is what Schiff had to say about oil and the situation in Iran: “I hope we don’t get involved in Iran. Anytime we get more involved in the Middle-East we create more problems. Maybe the administration is looking for something to blame the high oil price on, rather than admit it’s excess money printing causing the problem.”

Peter Schiff continues:

“If we get involved in a bigger war there, it’s easier to blame the higher prices on the war and on speculators. The real reason oil is going higher is we have such a big deficit that the Fed is monetizing. The money is losing value and prices are going up, particularly for things like gasoline.

It’s also inflation that’s really driving the move into the stock market. Although some people may be under the impression the economy in America is getting better, before too long those hopes will be dashed.

Most of the data I’m seeing is a function of spending more money. The more money we spend, the deeper the whole we dig for ourselves because we are borrowing that money. We are not restructuring the economy along the lines that would allow for a lasting recovery….

The Rest…HERE

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter