Video: The Day Of Reckoning Is Relatively Close

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Gold Companies: China Should Buy Them

Why does`t a country like China with trillions in reserves, given how inexpensive the major gold companies are, I mean, they are trading at such discounts to their book value, China can buy every gold miner in the world for just a few billion dollars. They can buy all the gold mines and then they would own all the gold on the ground. They could 100 percent of their production to their own vaults.

Why don`t they buy Barrick Gold (ABX), Goldcorp (GG), Newmont Mining (NEM), just buy them all?

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Gold: The Conventional Wisdom

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 an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.