Peter Schiff Says The World Needs A True Gold Standard, Will See $10K Gold Prices (SGOL,GLD,IAU)

The World Bank President Robert Zoellick, called the G20 countries to bring back gold prices in the world monetary system as a reference point which will be connected with foreign exchange rates. Peter Schiff, President of Euro Pacific Capital and author of How an Economy Grows And Why It Crashes, argues that Robert Zoellick’s plea for a gold standard doesn’t go far enough and outlines “his” type of gold standard. Peter says that we will experience first hand the dollar’s collapse. He summises that gold will begin to move up much more rapidly than it has been. Where is his target while maintaing current wages and prices, Peter thinks we are looking at $5k or $10K at a minimum. See the full interview below.

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