Peter Schiff Interview: Avoid the Dollar in Obama’s Second Term
In a recent interview with Olly Ludwig on Seeking Alpha, Peter emphasized that the US dollar would go down and gold would go up no matter who won the presidency:
Ludwig: As you take in this Obama victory, is there any asset allocation shift you think might be more sensible now than, say, before it was clear the president would win re-election?
Schiff: I think it’s the same asset allocation as before: You want to avoid the dollar; you want to avoid bonds; you want to be in precious metals; you want to be in resources; you want to invest abroad.
But the problem with the Obama victory is that he’s obviously the worse of the two candidates—the reason Obama was elected is because he’s promising free stuff. The fact that we would re-elect Obama, despite the fact that the economy is bad and getting worse, just shows how hopeless the situation is as far as America ever doing the right thing.”
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