Peter Schiff's Still Staying The Course

As reported by the Peter Schiff Blog:

I think 5,000 dollars is a reasonable expectation of where gold is headed over the course of the next several years, based on monetary and fiscal policy that is in place. Now if the government were to reverse course - if they suddenly brought the budget into surplus, and if the Fed aggressively raised interest rates back up to a reasonable level, say 5%, 6%, or 7%, not just a quarter-point every few months - then gold would probably not get to 5,000 dollars."

In other words, despite the recent rally in the greenback, the underlying fundamanentals haven't changed. The U.S. is still heading down Inflation Lane, and will continue to do so unless there's an unprecedented tightening in fiscal policy and/or unprecedented adroitness in the Fed. I've read at least one professional goldbug who welcomes the current decline, because it gives a chance to buy more at lower prices.