Peter Schiff, who is mounting a lay-up Senate campaign against that crook, Chris Dodd (D-Connecticut), comments on the recent move being made in the gold and silver market. One trend going on, which I have pointed out, is that the buyers are finally challenging the short sellers, especially when it comes to demanding delivery of the underlying physical metal. He also opines, and is consistent with my view, that the next big drop in the stock market will be accompanied by a sell-off in the U.S. dollar and big flight to gold and silver for safety.
At the end he has some notable comments on the recent move by the Chinese Government to encourage its citizens to buy gold and silver: "They want their citizens to buy gold and silver...they want their citizens to own real money...They know gold and silver are going higher - they know it's a sure-thing because they are planning on dumping the dollar...The U.S. Government is telling its citizens to put faith and trust in little bits of paper that we're printing." Enjoy:
Friday, September 4, 2009
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