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Peter Schiff continues: 


“Well he got out of a good chunk of it and the (gold) market has been rising.  We’ve taken out some resistance levels around the $1,750 level and I think the next stop is the (old) high.  We have about another $100 rally to get us back to the old highs and then we’ll see what happens from there, but I think we are going to have a run up there pretty soon. Gold is consolidating and I think markets are going to move higher. 


Moving away from gold, there is more action in the crude oil market right now, that’s the market that seems to be creeping up everyday.  We got close to $100 a barrel today, but even when the market was down, heavier this morning, crude oil prices were pretty strong.


So it seems like even when the market is down and the dollar is up, crude oil prices are still firm.  That is not a good sign for the people who are betting on low inflation.  Longer-term I think I think we will be well above $150 a barrel on crude....


Continue reading the Peter Schiff interview below...




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When asked about stocks, Schiff responded, “There are a lot of reasons to be pessimistic, but I think the main reason to be ‘optimistic’ is because all of the pessimism is going to lead to more money printing.  That means more inflation, which means stock prices will rise.


When people stop worrying about Europe, the dollar is really going to go down.  The euro will rise, commodity prices will rise, and that will eventually put upward pressure on US inflation numbers and on bond yields.


A falling dollar, rising commodity prices, rising inflation, rising rates will start to weigh on the US economy.  It will also force the Fed into making a decision that it doesn’t want to make, which is raising rates when the economy is weak.


The dollar can’t make much of a rally.  The dollar index is just under 78 and it can’t rally much.  And if it can’t rally now, when will it rally?  If all of these problems haven’t caused the dollar to rally, what’s going to?


If the dollar won’t rally there is only one thing it can do and that’s decline.  It’s not going to be stable, it’s going to be directional and it’s not going to go up.  It’s going to go down and I think it’s going to go way down.”


The KWN interview with Peter Schiff will be available shortly and you can listen to it by CLICKING HERE. 


You can also go to Peter Schiff’s website goldscams.com and download his special report.


© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


Eric King

KingWorldNews.com

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