You don't drive an economy by consuming - the consumer is not the engine, the consumer is the caboose.
Peter SchiffGold has intrinsic value. The problem with the dollar is it has no intrinsic value. And if the Federal Reserve is going to spend trillions of them to buy up all these bad mortgages and all other kinds of bad debt, the dollar is going to lose all of its value. Gold will store its value, and you'll always be able to buy more food with your gold.
Peter SchiffGold is not overvalued at $500, and gold will not be overvalued at $1,500 or $2,000. The real money is buying gold and putting it away.
Peter SchiffThere are no checks and balances if the gov is wrong. If a private entrepreneur makes a mistake, he goes bankrupt, the losses are cut; if he bets wrong, he loses; if the gov bets wrong, they just get bigger, they just appropriate more money. It's a bottomless pit, because they either get it from the tax payers or run it off a printing press.
Peter Schiff