Here is Peter Schiff taking on Nouriel Roubini, on the subject of gold. Roubini believes asset prices, including gold, have risen too much, too soon and too fast compared with macroeconomic fundamentals. Fueling this — as Roubini calls it — ‘asset bubble’ is the weakness of the greenback, driven by the mother of all carry trade. Schiff respectfully disagrees, arguing Roubini doesn’t understand the fundamentals behind gold, and reiterates that the price of the yellow metal is going to keep heading higher as a result of the Fed’s liquidity from near-zero interest rates and quantitative easing. Schiff also slams Secretary Geithner for his key role in the financial crisis.
Schiff: Roubini Doesn’t Understand the Fundamentals Behind Gold
By editor|Nov 21, 2009, 9:15 PM|Author's Website
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- Peter .. Carlos Slim is definitely old school. He’s of the tried and true “guerrilla...
- Theresa O'Brien .. First off, I love the way you write, I can comprehend your terminology. I have...
- Dan Allen .. Why is everyone in an uproar about Germany bailing Greece out? Didn’t the US...
- LEN .. NEED 9AM——–NOT 925AM
- Zorro for the Common Good .. Lefty — thanks for the kind words, but I think you’re...
- Thomas .. Germany is the world’s largest Exporter along with China, best infrastructure in...
- Luis de Agustin .. Give credit to Dr. Roubini for getting the depth of the great recession right....
- Lefty .. Aspen.. Calling someone a Rookie, when they obviously are very well versed in something...
Peter has a very common sense approach to economics and investing in general. From my understanding he basically says that over time basic rules of production, investment, savings and spending applies equally to government as it does to business.
It seems that the people on Wall Street and the government have forgotten this when they decided to ship all our production over seas and spent way more money then we saved.