Tuesday, November 19, 2013

Bitcoins Are No Alternative To Gold

You can play the game if you want but I don`t see bitcoins as an alternative to gold. It is not a modern day gold standard. If anything, they are modern day alchimists. But you cannot make gold digitally. It`s no better than a fiat currency.

Related trading instruments: SPDR Gold Trust ETF (GLD)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.