Money manager Peter Schiff says gold and silver are not going fall dramatically in price from here. Schiff says, “That’s not going to happen. There will be deflation. If you want to price things in gold, stock prices are coming way down in terms of gold. Real estate prices are coming way down in gold. Consumer prices are coming way down in gold. Commodity prices are coming way down in gold.
They are not coming way down in dollar bills because the government can create as many of those as it wants. . . . I don’t know why a guy like a Harry Dent would have so much confidence in a Federal Reserve Note. He has no confidence at all in the U.S. economy and thinks everything is going to collapse, but somehow, in the middle of all that rubble, somehow the dollar is going to emerge supreme. Why would that be? There is no real precedent for that. Every country that has gotten themselves into the mess were in, only on a smaller scale, there has always been a collapse in the currency. . . . I don’t know why cash would be king.”
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