Wednesday, December 29, 2010

Peter Schiff : whats driving commodities is inflation

Peter Schiff on CNBC 12_29_10

Peter Schiff :...I do not think that's what's driving the market the ETFs are attracted by high returns , the ETFs are showing up because people want exposure to the commodities but they are not the dog they are the tail , what's driving commodities is inflation , it's governments around the world particularly the federal reserve creating too much money debasing the value of the dollar , you know as we speak the dollar is at an all time low against the swiss franc today it is at an all time record low against the Australian dollar , you need 30 dollars to buy an ounce of silver , you need 1400 dollars to but an ounce of gold ......etc...

Peter Schiff : The surge in Commodities is due to the Inflation not to the economy picking up

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