Why Investors Are Wrong About Gold

Gold has really been an asset that has been under owned for many years. I think you have too many people that are convinced that the central banks know what they're doing and that they've solved all of our problems and that there's no inflation, that there's nothing to worry about and therefore there's no reason to own gold. Gold is just a piece of metal and why own it right, it doesn't throw off any income? But of course people are completely wrong.

Stock Market: This Is A Bubble Deflating

Peter Schiff comments on the current situation in the US stock market.

This Is A Bear Market

I've been calling for a bear market and I think this is a bear market and if we get a rally that will be the correction because the primary trend is now down. This is early in this bear market, it's very young and unfortunately it's going to be very long-lived.

I think this is going to be similar if not worse than the bear market that went from 1966 to 1982. It took 16 years for the Dow to make a new high and during that time period inflation took about 70 percent away from the Dow's value. This time I think it's going to be worse.