Spot Gold Price Outlook
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From Peter Schiff, president and chief global strategist of Euro Pacific Capital, in the Euro Pacific Global Investor Newsletter, on September 30th:
”Given the US dollar’s status as the world’s reserve currency, America’s oversized status as the world’s biggest consumer, and the influence of overseas export-oriented businesses on their home governments, the falling dollar is a difficult issue for many countries to ignore. And with the imminent arrival of a second round of ‘quantitative easing’ from the Fed, the big guns of dollar destruction are being locked and loaded. The move looks poised to set off a frantic race to the bottom among global currencies, which will have important ramifications for every investor. Unfortunately, this is one race the United States is poised to win.
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