Dow Jones to Decline & Gold to Rise

I don`t know how much the Dow Jones is going to decline. I think most of that is going to be made up with gold prices going up, not so much the Dow Jones Industrials going down because I do believe that they will print enough money to put a floor beneath the stock market. So, I don`t think they will meet at 2,000 or 3,000. I think they are going to meet at a much higher level.

By the time they are one-to-one again it will probably be with gold and the Dow Jones at 5,000 to 10,000 if not higher. So, I am not looking for a collapse in the Dow Jones but the Dow could certainly move down. The Nasdaq I think its the most vulnerable.



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.