Peter Schiff on the Surge in Gold

Courtesy of Jesse’s Café Américain

Peter Schiff has not always been correct, most notably on the decoupling theory of foreign markets with the US, and the desirability of their equity markets, at least so far.

It is the case, of course, that the US lagged emergence from the Great Depression as compared to a number of overseas economies, for a variety of reasons on which we have speculated in the past.

Will this happen again? Perhaps, we cannot know. But the US is ‘ground zero’ for the Wall Street debt fraud and bubble economy based on the dollar reserves.

The decline in the value of the dollar does seem like a very high probability, as well as the stagflation which this will produce. On this point Mr. Schiff seems most insightful, especially compared to the commentators on financial television.

(hat tip to Denver Dave for the link)