Posted on | October 1, 2009 | 8 Comments
Peter Schiff and Jim Rogers agree that inflation is coming and the place to invest is in gold and commodities. Schiff feels that the dollar is going to continue to get weaker which will only strengthen the value of commodities. In a recent interview with CNBC Schiff said, “I don’t know when [the dollar] is going to strengthen. The dollar isn’t the new yen, it’s unfortunately the new peso.” Rogers agrees as he told CNBC, “The true inflation rate in America? It’s certainly at least 6 or 7 percent, the US government lies about it, as you know, everybody who shops knows that prices are up, everybody except the US government, and I wish we knew where they shopped so we can shop there too and get good prices.”
Schiff and Rogers agree that we are still very early in this bull market for gold. The price of gold bottomed in 2001 at around $225 an ounce. Gold currently trades at over $1000 an ounce and many gold bull investors feel there is much upside potential. Schiff actually said that he sees gold reaching $5000 an ounce in the future.
Last week Schiff made his United States Senate bid for next years election official. In a statement from Schiff, “I plan to bring my dedication and experience to the taxpayers of Connecticut. I may make mistakes in this campaign-but I will not make mistakes in representing you in the Senate. I look forward to an exciting race where I can share my vision with the people of Connecticut.” Stay tuned to Subprime Blogger on much more information on both Peter Schiff and Jim Rogers.
Related Article: Ron Paul – Would He Be An Investor of Gold and Commodities?
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Author: Jesse Wojdylo