Marc Faber, Peter Schiff, And Ron Paul Believe Gold Price Is Set To Climb!

Gold has been attracting the attention of the masses for a while now, and for good reason. Throughout the first half of the year, the commodity grew in price by around 25%. However, experts like Marc Faber, Peter Schiff, and, even Ron Paul, believe that the value of the commodity is likely to climb, much much higher. Today, we'll start with a quote from each. Then, we'll tie the three together to paint a few picture of what they believe is likely to happen with the price of gold.

Marc Faber, Peter Schiff, And Ron Paul Gold Quotes

“Global growth has contracted, in other words, growth rates have been reduced and many countires are in recession already. That has nothing at all to do with Brexit... Brexit is actually not an end of globalization. On the contrary, it's about people that rebel against the arrogant elite in the financial centers.” - Marc Faber

“This is going to be a huge crisis. Alan Greenspan was on CNBC saying this is the worst thing he has seen in his career. He's not talking about what has already happened. He's talking about what is about to happen. He understands how screwed up the economy is because he helped screw it up.... One of these days, you are going to see gold moving up at $100 clips routinely when people really perceive the dangers in the fiat world and come to grips with how much money these central banks are going to print. None of them have any integrity to honestly default, so they are going to take the coward's way out and print.” - Peter Schiff

“There's been fiat currencies, that is non-precious metal currencies, for many times over the hundreds and hundreds of years, and they always fail. But they thought they were smart enough to do it, but it's never been like this before, where it was so globalized in the dollar that, you know, it became the instrument of our foreign policy too. That if somebody did something we didn't like, we would freeze their assets, and punish people, which would be acts of war in reality, and is of course, has served to build enemies to us and for us to make so many mistakes...” - Ron Paul

What All Of This Means

If you follow any of the three experts above, you're going to hear a lot about fiat currencies and mistakes that central banks around the world are making. You'll also hear about printing more money, and more. These are all signs of a global economic hardship.

They make very good points as well. At the moment, it's hard for people to believe in the central banks of the world. With so many of them devaluing currencies, and working to fix their economies, what they're doing is actually making things worse.

As a result, as many believe, some sort of global financial reset is going to need to happen. Unfortunately, the fiat currency, or currencies not backed by precious metals, system isn't working. This is being proven time and time again.

At some point, currencies will need to be backed by something. Historically, currencies backed by precious metals, or non-fiat currencies, have been the strongest and most stable. As a result, many believe that the world is going to eventually move to gold and silver backed currencies. As a result, of this belief, and the fact that precious metals are safe haven investments, we're seeing increased demand for gold and silver. This demand is only likely to increase as the global economic situation worsens.

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