May 062011
Peter Schiff, President of Euro Pacific Capital, discusses silver’s 22% gain over the past quarter and advises on what the Fed needs to do to stop devaluing the US dollar. Peter Schiff has made a number of accurate economic prediction over the last half decade from the real estate crash in December 2006 to the bullish rise of precious metals. With spot gold now at ~US$1,419/oz and Silver at ~US$35.28/oz the Gold-Silver ratio now sits at ~40:1. Schiff aptly pointed out that when the dollar was established in the Coinage Act of 1776 the Act essentially pegged the gold-silver relationship at 20:1 Read more [...]