Saturday, November 24, 2012

Peter Schiff is embracing the fiscal cliff

The fiscal cliff has long been the chief problem of the U.S. economy and the uncertainty has created a volatile marketplace. Each and every political party has its own ideas how to act when the fiscal cliff comes. Peter Schiff not an exception as he has spoken his mind is concerning the U.S economy.

In a time of such worry for the next year’s potential threat to the United States, Schiff is embracing the fiscal cliff.

“The truth is that, regardless of what you call it, going over the fiscal cliff is not the problem, it is part of the solution. Our leaders should construct a cliff that is actually large enough to restore fiscal balance before a real disaster occurs,” he commented.

Moreover, he is of the opinion that the fiscal cliff will inevitably lead to cuts in government spending which would put the country on the right track. Furthermore, Peter Schiff navigates the cliff. Even though markets may get slaughtered and the dollar might endure a crisis, the real assets do offer compelling investment. Schiff, of course, has mentioned many times that he had chosen gold to help his portfolio because he believes that the dollar will bear a major debasement, which would make silver and gold especially attractive to investors.

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