PETER SCHIFF

PETER SCHIFF

Monday, February 13, 2012

Peter Schiff : Retirees need to buy Gold & Silver not Dollar denominated debt instruments

Peter Schiff : “I think what retirees need to understand, is that when the dollar is wiped out, all dollar denominated debt instruments are going to go with it,”
“So what they have to do is get out of the dollar completely.” “A lot of them [retirees] are buying longer-term U.S. Treasuries, you know, maybe 30 years to get extra yield. In so doing, they’re taking enormous risk,” Schiff explained. “In fact, many of the funds that are out there are actually levering up longer-term debt. That’s incredible risk. Other people are buying overpriced stocks.” “So retirees need to buy gold and silver,” - in beaconequity
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