While it's tempting to snicker at Schiff's perms-bullish stand on gold (and perms-bearish view on the buck), it's important to remember he was warning about the housing bust when most policymakers and pundits were singing the virtues of the housing boom. And, he makes a fair point about how central bankers around the world — not just the Fed — are trying to invite inflation via extraordinary measures, including negative interest rates.

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