Bernanke 'bigger threat' than 'fiscal cliff': Schiff - CNBC

Bernanke 'bigger threat' than 'fiscal cliff': Schiff - CNBC: "
Schiff, who insists that QE will lead to runaway inflation, is a booster of gold as an alternative to paper money and stocks. He stuck by his call that bullion would surge to USD 5,000 per ounce once the Fed’s policy eroded the value of the dollar.

“If we avoid the cliff, that is very bullish for the gold market because that means that trillion dollar-plus deficits will perpetuate, and these big deficits are what’s undermining the dollar because the Fed has to print money to finance them,” Schiff said.

"The more money they create to buy up the bonds that nobody wants, the higher the price of gold will go," he added."

'via Blog this'

Comments