Peter Schiff recently had a bone to pick with MarketWatch or rather with Howard R. Gold, a MarketWatch columnist and founder and editor of GoldenEgg Investing, who recently took the ever pessimistic CEO of Euro Pacific Capital to task for his prediction that gold would hit $5,000 an ounce. Gold also feels that average investors who feared debt and the Federal Reserve’s extraordinary bond buying “were, to put it mildly, led astray by the hyperinflation gurus — and not just by Faber and Schiff.”
In the lengthy followup article where Gold interviewed Schiff, the latter did make the following interesting comment:
“The same bad monetary policy that inflated the housing bubble is what we have now; it’s even worse. The country is in really, really bad shape. I don’t see anything that’s going to turn it around. Even if my dire predictions on the dollar and U.S. economy never come true, I think people would be better off investing in countries with sound policies … than investing in America.”
Unfortunately, Schiff (or perhaps Gold) did not go into detail about which countries might actually have governments producing “sound policies…” (Singapore, perhaps?)
To read the whole article, Peter Schiff says to leave the U.S. to ‘make a fortune’, go to the website of MarketWatch.
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