Thursday, March 6, 2014

Why Own Gold

What motivates individuals to own gold rather than Euros, or Dollars, or Pounds or Yen is inflation. Is the idea that the value of the fiat currency is going to decline over time and that the interest rate that you are earning is not enough to offset the loss of purchasing power through inflation.

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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