While others are sanguine and think cheap oil is good for the economy, Peter Schiff says there is reason to be concerned, according to CNBC. Schiff thinks the bubbles in real estate and in stocks are going to burst, and oil is just a sign of other bubbles that are going to pop. “We are whistling past the graveyard if we think (cheap oil) is good news, ” said Schiff. He thinks gold is not in a bubble, because it has already fallen. Given heavy currency printing globally, gold is still a good option.
“I know the Fed is bluffing. They have no exit strategy. The Fed is going to keep printing dollars to keep up assets, ” said Schiff. However, the dollar is rising. Perhaps Schiff is taking the long-term bearish view of the dollar. “They are going to come back with QE4” Schiff said of the Fed, who thinks the Federal Reserve is going to continue its policy of propping up the economy.
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