Schiff – Gold & The Perfect Storm That Will Lead To Collapse
August 9, 2012
Today Peter Schiff spoke with King World News about what he described as “The perfect storm.” Schiff also discussed gold, the Fed, mining shares, and much more. But first, here is what he had to say about mainstream fund managers and gold: “I think that what’s going on is that most mainstream investors, who invest other people’s money, see gold as a bubble and are waiting for it to burst. People think the price of gold is going to go down. They think the Fed is done easing.”
Peter Schiff continues:
“Everybody is waiting for the other shoe to drop for the price of gold. If you look at the price of gold stocks, p/e multiples, the assumption must be that earnings are going to fall sharply. That’s based on the idea that gold prices are going to go down.
The street is wrong if that’s what they are betting on….