Wednesday, May 18, 2011

Peter Schiff - Mexican Central Bank Buys 100 Tons of Gold

When asked about the Mexican central bank purchase of 100 tons of gold Schiff replied, 

“What surprises me is that more central banks aren’t buying even more gold.  Central banks are loaded up with depreciating dollars, they need to buy gold instead.   The crazy thing is that I’m even hearing talk about the US selling its gold to help fund its debts.  That would be the worst thing we could do.  The last thing we would want to sell is our gold, I mean if we sold that then that would be it, we would have nothing.  The dollar would just become complete confetti.”

- Peter Schiff via King World News Interview

Read the full interview here:$50,_New_Shorts_are_Suckers.html