Fort Worth, TX (PRWEB) April 16, 2014
In response to an April 15 CNBC article based on a television interview of economic analysts Peter Schiff and Paul Krake, GoldCoin.net VP James Gordon has said that neither of the two gentlemen are correct in their assessments of the U.S. economy in relation to gold. Schiff is bullish on gold and believes the gold spot price could surpass $5,000 per ounce in the current cycle, while Krake sees gold falling lower and believes the U.S. economy is on a permanent upswing.
“Schiff is definitely closer in terms of what is happening in the economy right now, and he is absolutely correct about the correlation between interest rates and gold,” Gordon said. “To be fair, though, Krake’s belief that the gold spot price could fall to $1,000 per ounce is one shared by many gold coin market analysts, especially now that the Fed is tapering their quantitative easing measures.”
Gordon understands both analysts’ points-of-view, yet he believes they both “missed the mark” in terms of correctly assessing the state of the U.S. economy. “Schiff seems to think the U.S. government is attempting a controlled demolition of the dollar, but the lawmakers in Washington are out of string to pull so this Ponzi scheme could fall apart sooner than he thinks,” said Gordon. “As far as Krake’s denial of the correlation between quantitative easing and gold prices, I believe most people understand there is a direct correlation but investments like gold never move in a straight line, even if outside factors are at their most extreme,” he added.
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