Schiff: Buy Gold Now

" Second annual inside commodities conference kicking up today at the new York stock exchanges together -- industry experts analysts investors. Talk about the future of commodities. Joining us now in a fox. Exclusive on the floor. -- sea levels strategist at Euro Pacific Capital Peter always great to see you Peter gold at a new record. How high do you think you guys."

" I'll hire an opinion number of men. We had this here next to let you know we keep debasing the dollar and it appears that we're going to do that. He has unfortunately. The government thinks the solution to our economic problems is to grade inflation -- trying to artificially stimulate. More consumption and that's the wrong thing to do they're actually. Peter fearing it we're going to have a real recovery in our country is going to be led by savings investment and production but the longer we delay that the -- we -- inflation. The week of the dollar's gonna get behind the bicycles going to dominant you -- old -- yet you should quiet don't think it's expensive that barely over a thousand dollars an -- Don't wait -- it's 2000."

" all right you now but Peter if if your arm and theory of why gold keep going up is based on the how lousy the US isn't we're going into this. Debt related depression we sit as a government on the goal. Won't we and -- that extra supply. Naturally suppressed if we start selling gold because we're -- fiscal problems when that next to suppress the -- of all nodded sadly."

" No there would be plenty of behind you -- and that the other day they were trying to unload some of their gold that was a foolish thing for them to do. But the bank of India stepped up about 200 metric tons there's plenty demanded the United States is stupid enough to sell gold. Other central banks would survive. What we should be doing right now -- even more -- you know the central banks around the world are are under pat don't have enough -- they they need to be behind him. Is there a global asset bubble Peter. I don't think so I think there's a bubble in the US treasuries for sure I think we still haven't fully deflated housing bubble. But I think. You know stock prices have been rising around the world. A lot of that is due to legitimate factors I still think stocks are not necessarily expensive and a lot of them markets. There is a lot of inflation central banks even outside the United States -- much money interest rates are low. So that creates a tendency to prefer assets. Over a depreciating. Currency I don't think commodity prices no bubble. Peter is trying to above. Now I I I don't think so I think is legitimate economic growth going on in China. I think their monetary policy is bad I think they need to be coupled completely from the US dollar I think they need to stop increasing their money supply. About US dollars I think they do that the Chinese a have a sounder. Building in China it's great a lot of legitimate well unfortunately the opposite is happening in the United States."

" Peter -- light gold you know like oil but our commodities a zero sum game ultimately for investors. Only if you're a winner there is a loser or somewhere Donald. --"

" Posted here talking about futures contract somebody shorting in somebody's longer therefore but if you own commodities ultimately commodities are going to be consumed. So there isn't necessary loser there's the investor and as the ultimate end consumer who was going that you know beneath -- you know -- use the oil or eat the week. And so if you think that price they're going to arise due to increasing demand that due to a scarcity of supply. You can certainly profit as an investor by buying in now and selling it later when the prices are higher."

" Peter good to see banks. That's it might see you again the leadership president and chief global strategist at your Pacific capital."