There is no shortage of criticism of central bankers and their policies. But there is at least one thing that they are getting right, according to Peter Schiff, CEO of Euro Pacific Precious Metals: central banks around the globe are buying and holding more gold. And when it comes to that trend, Schiff advises investors to do as central bankers do, not as they say. Most people don’t own any gold, he said, and they need to start buying.
With over two decades of experience in finance, Schiff has taken on many roles. He is a financial commentator, a broker, and an adviser. Schiff is also an author. In a recent article, he wrote that he devoted a whole chapter in his latest book, The Real Crash: America’s Coming Bankruptcy – How to Save Yourself and Your Country,to the merits of the gold standard. That caught the attention of Gold Investing News (GIN).
In an interview, Schiff told GIN that publicly, central bankers talk about why they don’t like gold or think it’s a barbaric relic, yet they apparently want more of it. It is a trend that he believes will accelerate as central banks figure out that fiat, or paper money, needs something behind it, something tangible.
“It can’t be just a piece of paper,” he said. “Gold is the most logical choice as a reserve for the paper.”
....read the Entire Interview HERE