Wednesday, October 23, 2013

We Are In A Major Historical Gold Bull Market

When Goldman came out with that bogus call saying gold will head down after a deal, I criticized it immediately because the crisis for gold was not that they would raise the debt ceiling, but that they would not. What is bullish for gold is raising the debt ceiling because that means we get more government, we get more debt, and we get more inflation. That's bullish for gold.

Related trading instruments: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), Market Vectors Gold Miners ETF (GDX)

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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