In Euro Pacific Precious Metals latest “Gold Report” monthly newsletter, Peter Schiff is at his poetic best:
[Some] analysts still believe – bless their hearts – that the US is really going to pull through this time into a sustainable recovery. After being duped by dot-coms and then housing, they are all aboard the Treasury Express back to Bubbletown. Unfortunately, as in the previous two cases, the current low interest rate environment is merely masking an underlying economy that is vastly more rotten than it was even a decade ago. The unemployment rate is a key signal that this time, Bernanke’s magic medicine won’t work (emphasis mine).
Yes, while it’s all aboard the U.S.S. Titanic for most, smart investors are putting their money in commodities, like gold and silver, as well as in investments insulated from the US dollar.