Money manager Peter Schiff predicts, “We are headed for a monetary crisis, a dollar crisis. . . . Money supplies are going to explode, and gold supplies are going to be constricted.” According to Schiff, that means only one thing, “The price of gold has one way to go in the long term, and that is up.” Schiff says the reason why it hasn’t ignited is because, “People are buying into this myth the economy is recovering. . . . We’re facing a worse crisis than ever.” Schiff thinks the real reason why the federal government is suing the S&P rating agency is because it downgraded U.S. Treasuries last year. Schiff says, “The reason why they’re being sued is not only because of what they did but to send a message to the other ratings agencies that you better not downgrade U.S. Treasuries.” Schiff predicts, “People who own Treasuries are going to lose a lot of money.” Join Greg Hunter as he goes One-on-One with Peter Schiff of Euro Pacific Precious Metals.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.