In a recent on-camera interview with BNW Business News Wire, Schiff suggests that the looming prospect of a hyper-inflationary environment in the U.S. will severely debase the greenback over the next few years. And the global investment community will realize that gold represents the ultimate “store of value” as a safe haven replacement for a discredited U.S. dollar.

“One of the reasons that gold isn’t stronger is because of this temporary strength of the dollar. This is keeping the gold market in check. And the dollar is getting some of the safe haven money that should be going into gold,” he says.

“At some point that will stop. The people who are buying dollars will realize that there’s no safety in dollars. Because the central banks are going to try to pay for the economic bailouts and stimuli by looting the world’s savings and by printing money and debasing it.”
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A recent article published to Fat Prophets’ readers reminds us in rather scathing terms that it was P Costello who sold off 2/3 of Australia’s gold reserves in 1997 for a song and cost Australia around $6 billion dollars….

With all the hype surrounding the possible return of P Costello to replace the current leader of the Libs (“All wick no bang” as aptly described by P Keating) it is worthwhile to remember that Costello was NOT very good at his job. The old maxim of not diving into shallow murky waters should be at the foremost of people thoughts … especially those that seek to return the libs to power……