Peter Schiff predicts, “We are headed for a monetary crisis, a dollar
crisis. . . . Money supplies are going to explode, and gold supplies
are going to be constricted.” According to Schiff, that means only
one thing, “The price of gold has one way to go in the long term,
and that is up.” Schiff says the reason why it hasn’t ignited is
because, “People are buying into this myth the economy is recovering.
. . . We’re facing a worse crisis than ever.” Schiff thinks the
real reason why the federal government is suing the S&P rating agency
is because it downgraded U.S. Treasuries last year. Schiff says,
“The reason why they’re being sued is not only because of what they
did but to send a message to the other ratings agencies that you
better not downgrade U.S. Treasuries.” Schiff predicts, “People
who own Treasuries are going to lose a lot of money.” Join Greg
Hunter as he goes One-on-One with Peter Schiff of Euro
Pacific Precious Metals.