Friday, February 19, 2010

Peter Schiff: Buy, Hold Gold

Peter Schiff on Gold

Most of us know that Peter Schiff has championed buying and holding gold for some time, as the economic circumstances around the world show there needs to be a haven for our money when everything around us has the potential to collapse.

The most recent economic disaster is the PIIGS from Europe, which all are in danger of sovereign default, and which would crush the global economic system before we begin a true economic recovery.

Some seem to think Greece would only have an effect on Europe, rather than the world, but it depends on who is holding the debt and how much. Banks will fall if Greece does, and Greece knows it, and holds the upper hand in that regard.

Either way, gold should be a key player in the years ahead, not only because of this hanging sword over the head of Europe and the euro, but because it would have been a key player based on the decisions of central banks and their futile policies which are causing more harm than good.

As Peter Schiff has said in the past concerning gold, when you own gold, you have something that has lasting value. Most of the currencies is this world can no longer say that.

Peter Schiff on Gold

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