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-- today's money counts segment of Fox Business alert the Dow rising to its highest level since back in July but our next guest says.
-- -- that for you says America is heading for a crisis.
That could make the current European -- Amir opening -- he believes -- to put your money in gold Peter Grant which is the author of confessions of a Wall Street.
His head and he believes gold will hit 2000 this -- he's willing to bet on it and we're not talking chump change here Peter two million box.
Yeah it was a wager when -- was about a hundred dollars lower there are some permit bears out there that was saying I was gonna go a thousand below one.
I was more on the wager up to two million dollars it would go to 2000 before gonna founder.
Let's again let's just put that in clear focus your bet it has it'll go to 2000 before it hits 1000 what analysts now like it's gonna do that I mean it's it's -- close to seventy now it.
In my book it's we're in -- mother of all global markets.
And does so I really think I was actually risk -- -- because I really think 2000 will be a low number in the next few years did anybody take up and has spent.
Oh now but there are some real bears out there and gold I guess they're not that confident that in that bearish call right they're still pretty bloodied over the last -- and I think they've been running low on money.
By the way gonna payoff in gold if you if you lose a bet.
Call it -- lose to them actually gonna pay off in dollars which are probably gonna be cheaper when I have to pay off so won't be too bad are now when you want to look at why gold is setting a certain direction I'd I think you you don't have slowed much farther than what the Federal Reserve is doing if they're printing a lot of money.
That makes a dollar worth less and that makes gold worth more -- my on to some.
Absolutely the number one reason gold is rising because people fearful that major world currencies -- being -- -- the more you printed.
The less the word the -- the purchasing power.
The two things at.
And -- let me just let me just follow that a little further.
I CS obviously we're in an election year and I see defender reserve particularly now that a lot of Obama appointees are on our voting members -- fed reserve.
Wanting to kind of -- the way for the president's reelection the way that the Fed has done that in the past they say they will never do that but they.
Have done in the past is by -- more money to give us the illusion that things are are better walking around money.
And if they do that the price of gold will head higher.
Yes they're doing and how Europe's doing it too so the combination of both this which really scaring the people who have money in -- world which is mostly -- that's where we've seen the strongest of buying of gold.
Not in the US but in Asia so you think treasuries by the way it will crash right.
I think treasuries and at worse that going forward for the next decade I think they'll really be the biggest losing investment over the next ten years US government debt you think is just gonna crash if so what -- just wanna -- you short them when she short treasuries.
I'm very close to it might my readers know that I've talked about for quite some time I still think because we're gonna see another -- -- easing this spring.
We'll get one more rally in treasuries and -- -- -- potential.
Not in dollars but in Canadian -- he's right that's correct some people may Sammy B -- -- for doing that.
But I can tell you I think -- -- the one place in the -- the world that has fiscal responsibility in their currency should maintain its purchasing power.
And will increased nicely over the US dollars an ironic I mean for guys are rage to look at can't -- we always is saw them as the more closer to socialism we are.
It's totally reversed now isn't there home on the two places in the western world there in Germany where I would feel safe holding my about Australia.
Not too bad but I really like -- -- strike right in the name your book again confessions of -- Wall Street whiz kid.
Here it is we got it up on the screen wonderful to see if Peter it has a terrific book a very -- you've got an amazing like stores for those who wanted to hear his life story brought by the book good to see it thanks for coming negative about.
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