Gold at $5,000?

One of Wall Street’s true all-stars, who correctly forecast the subprime mortgage debacle back in 2007-2008 is now forecasting sharply higher gold prices over the next two years.

Peter Schiff, head of Euro Pacific Capital, thinks that the combination of runaway government spending and loose monetary policies will cause the price of an ounce of gold to climb to $5,000 per ounce over the next two years.

Note that Schiff sees this eventuality regardless of who wins the presidential election next week…

http://www.cnbc.com/id/49550053

Here is a video of Schiff’s statement on CNBCTV last week:

http://video.cnbc.com/gallery/?video=3000125017

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