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Peter Schiff Agrees with Jim Rogers, Invest in Gold and Commodities

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

Comments

8 Responses to “Peter Schiff Agrees with Jim Rogers, Invest in Gold and Commodities”

  1. Sonny
    October 1st, 2009 @ 11:38 am

    Even if you don’t agree with everything someone says, you can’t deny the facts. Schiff was right on about what was coming in the form of market bubbles. Everyone else was playing it up like rock stars living on dreams. Gold was one of these things. So if he’s saying it’s going to 5k, I wouldn’t be surprised. Let’s just hope we get more people like Schiff in the Senate and Congress. Vote him in Connecticut!

  2. Brant
    October 1st, 2009 @ 12:25 pm

    I think Peter will make a great addition to the U.S. senate!

  3. Lewis
    October 1st, 2009 @ 4:42 pm

    I agree, Peter Schiff belongs in the Senate. Enough with the career politicians who make mistakes and then offer solutions that make them worse. We need people with economic common sense and respect for the Constitution. Good Luck Mr. Schiff!

  4. Martin
    October 2nd, 2009 @ 8:43 am

    Way to go Peter. One of the FEW who are telling like it is and will be AND getting it right. I hope the rest of the country can take this kind of medicine and ask their representatives to do the right thing (not holding breath though). I hope he makes it into the Senate and gets the message out more! God speed!

  5. Dan
    October 5th, 2009 @ 5:21 am

    The generally progressivist media in CT should go Palin-style berserk attacking Peter Schiff for implicitly exposing them for the willing lackeys they’ve been in hiding the stealth tax of inflation from the people, giving him the exposure he would otherwise have to pay a fortune for. On the other hand, they may try to marginalize him in the manner of Ron Paul, and he should be able to capitalize on that, too, as in, Why are the media scared to death of Peter Schiff?

    But, there’s precedent in CT, and therefore great hope, since Lieberman was supported on the left and right to topple the establishment favorite, Lowell Weicker (who tragically ended up as governor, giving us a state income tax). Does anyone remember that insufferable gasbag Weicker these days? This time around Dodd, the most insufferable, Weickeresque gasbag in the Senate today, is ripe for the same treatment. Nobody will remember Dodd in ten years, either—unless Peter Schiff’s victory propels Dodd into the governor’s seat where he’ll destroy what is left of industry in CT.

    Dodd will probably continue his phony posturing as a man of the little people in CT’s inner cities, with photo ops of him shaking hands with the kind of people who only get through his front door to clean his toilets. Schiff’s straightforward honesty should do well, as he addresses the real economic problems facing CT.

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