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Euro Pacific Capital’s Peter Schiff sounds off on the EU’s efforts to solidify its economy and how it compares to the U.S. economy.
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Well Peter Schiff on the line for -- he's joining us on the phone this morning.
-- I know that you what do you think the Euro is finished I'd probably agree with you on that.
I wanna know what your timeframe is when does this the bottom fall out over Europe.
Well I you know I didn't say it finished yet at the premature right big bed -- is fatally flawed by design I'd bet that would papers formulated -- Up but.
I they're certainly aren't enough resources.
In Europe on the wealthier nations that they want to squander them.
But we keep this going and perpetuate the moral out -- but.
They -- serious problem that they took a -- but I think it was more important brought here in America is we have to recognize this similarity.
Of people say that Germany needs Greece because Greece -- by the German products -- they're buying German product that their own money.
That's what's happening with China in America where China is great.
And if you look it was -- -- right now in Europe you just mentioned -- guilt about 7%.
Let's -- out what American people rise -- 7%.
You think the governor has a billion dollars -- year is that they ain't gonna stop the national debt don't we we we are not too far behind what's happening in Greece and Spain.
And came and went yeah.
Hello hold a second I I take -- point I wanna know why gold.
Isn't going -- dummies actually down five box today and an a in a crisis that why is it going now.
You know I know a lot of -- while a lot of gold stock.
Over the last six and three year they really haven't gone -- the speck -- gold stocks have gone down overall longer time period of course over the last ten years goal has been very very well.
So a lot of these problems have been anticipated in the gold market for years.
Why it hasn't had a bigger move recently I think that has more to do -- -- be relative strength of the dollar vs other Fiat currencies which I think it temporary I also think people are.
Fooled into thinking that treasury US treasuries represented safe haven alternative to gold.
I think that people were piling into treasuries are gonna regret it I think that that's -- -- -- going to burst.
I'm confident that eventually people find their way back to.
The -- that they -- -- Bible potable people who understand the risks not only of the Euro but of the dollar and other PI current.
Well Bible and one -- Stuart you're gonna come into work 1 morning people will be up 400 are announced to water aren't an -- And just goes straight up much better opponent before that happens and it try to chase -- after -- dot.
Peter Schiff who would get a look on your camera -- -- -- actually CU in the Abu Ghraib out of it Erica -- fifth.
Leadership everybody thank you very much indeed we will see you -- -- promise --
