Peter Schiff: Sell Dollars, Buy Gold, Gold Stocks, Chinese Stocks

The second “crash prophet” I’ll be blogging about this weekend is Peter Schiff, the CEO and chief global strategist of Euro Pacific Capital. Schiff, who correctly called the housing bust and 2008 economic crisis, appeared on CNBC Asia last Wednesday and shared the following with viewers:

The dollar has had a huge rally based on the anticipation of a normalization of interest rates, of a shrinking of the Fed’s $4.5 trillion balance sheet. All this is wrong. None of this is going to happen. It’s all fantasy. That balance sheet is going to explode when they launch QE 4. So the dollar is a bubble. You should sell dollars. Gold has been suppressed because people have been buying dollars and selling gold. Gold’s a great buy. Gold stocks. And you’ve had a nice correction I think in your part of the world, in Hong Kong. Some of these Chinese shares, I think there’s a lot of opportunities there to look to protect yourself in the equity markets. Because when the Fed unleashes QE 4, that’s going to send a lot of money into the emerging markets. A lot of money is going to leave the U.S. in search of safe havens.


“The Last Thing That Fed Wants is a Rate Hike”
YouTube Video

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)

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