July 19, 2011 News Corp Peter Schiff : " Gold is going higher , it had a pull back today , if you price the DOW in terms of Gold yesterday the DOW was worth less than 7.8 ounces of Gold that's the lowest level since the bear market begun in 2000 when the DOW was worth 44 ounces of Gold "
"I think the Deal(about the debt ceiling) is bullish for Gold , contrary to all the scare tactics coming out of Washington , if we have an economic Armageddon which we may be have it is not going to be because we fail to raise the debt ceiling but because we succeed , the best thing for the market and the US economy and the worst thing for Gold is that we do not raise the debt ceiling and get our fiscal house in order right now , if we continue to kick the can down the road and raise the debt ceiling that's bullish for Gold and bearish for the US economy and bearish for the Dollar "
Peter Schiff : a debt ceiling agreement is bullish for Gold
Thank you Mr Schiff for these mind opening thoughts and interviews, am not an economist nor pretend to understand what is going on, but I have a question about the US trade deficit statistics mentioned on the video:
ReplyDeletefrom my understanding i believe the statistics about the deficit are misleading since the majority of Manufacturing is being outsourced and the revenue is eventually collected by these companies such as Apple, Dell, ....? that are taxed income contributing to govt income ?
Thank you again and hope you have time to answer my question.