Horn
29th September 2011, 10:23 PM
“Silver, I still think there’s a lot of support in the current area. Right now it’s back below $30 again, but silver is still above what it traded at on Monday. The stock market is coming down, the Dow is rolling over again, there is a lot of pressure on markets and the US dollar is strengthening.
Anything could happen in the short-run, but in the long-run, gold goes a lot higher. Everything that is happening right now that is pushing the price of gold down, is actually bullish for the price of gold. That is why long-term the gold price will be higher.
We are going to fall off the edge of a cliff, it’s just a different cliff than most people are looking for. I don’t think the stock markets are going to fall off the edge of a dollar cliff, or nominal cliff, but the US economy is going over the cliff. When we see an eventual precipitous decline in the dollar, you will see consumer prices rising and interest rates rising.
We have this completely phony economy going, this bubble economy, it is still going to deflate and that hasn’t happened yet. The world is trying to keep the air in it, but ultimately the air will escape....
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/29_Peter_Schiff_-_Economy_Headed_Over_Cliff,_Gold_to_Go_Higher.html
Anything could happen in the short-run, but in the long-run, gold goes a lot higher. Everything that is happening right now that is pushing the price of gold down, is actually bullish for the price of gold. That is why long-term the gold price will be higher.
We are going to fall off the edge of a cliff, it’s just a different cliff than most people are looking for. I don’t think the stock markets are going to fall off the edge of a dollar cliff, or nominal cliff, but the US economy is going over the cliff. When we see an eventual precipitous decline in the dollar, you will see consumer prices rising and interest rates rising.
We have this completely phony economy going, this bubble economy, it is still going to deflate and that hasn’t happened yet. The world is trying to keep the air in it, but ultimately the air will escape....
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/29_Peter_Schiff_-_Economy_Headed_Over_Cliff,_Gold_to_Go_Higher.html