Gold : anytime it goes up, nobody cares

It`s a foregone conclusion now that gold is going lower. Everybody knows it is going down, and anytime it goes up, nobody cares, they just dismiss the rallies because they say, "Well, its not going to last, gold is going to go down, because all the problems have been solved, the U.S. economy is booming, the Federal Reserve is going to be able to get rid of QE, no problem, they are going to be able to unwind their balance sheet, no big deal, everything is going to go back to normal, inflation is dead, so gold is going back to 600, 700 dollars an ounce."

So, this is basically what everybody believes.


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.