Pro: Forget Currencies, Go for the Gold
Looking for a shiny new investment?
Peter Schiff has just the thing.
Schiff, chief executive of Euro Pacific Capital, says gold is where you want to be - especially when you compare it to currencies.
"You're having record physical demand" for gold, he told CNBC.
On top of that, there are simply few viable investment alternatives, he added. "Think about it. What are you going to do?" he asks rhetorically. "Are you going to hold dollars at zero percent with Ben Bernanke promising to print until infinity? Are you going to hold euros, are you going to hold yen," or the yuan? he asks.
Schiff likes gold in part because it's hard to make more of it. Mining gold is costly, and he expects it to become even more so if inflation increases in the face of low interest rates around the world.
"People are voting with their feet" and moving into gold, he says. "They're holding something with intrinsic value that people like Ben Bernanke can't print."
Tune In: CNBC's "Money in Motion Currency Trading" airs on Fridays at 5:30pm and repeats on Saturdays at 7pm.
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