Peter Schiff of Euro Pacific Capital has a message for those who have placed new shorts on silver recently: SUCKERS!
Schiff believes the terminal crisis/collapse in the US dollar may begin as soon as fall 2011, at which point he expects silver to be making new highs.
At this point, The Doc will stick with his $80 silver call for the end of November.
Whether $80 is reached in 2011 or not, we agree with Schiff that new silver shorts are likely to find themselves in a world of hurt once the market realizes that BernankSpeak aside, QE3 will not only be necessary, but will in fact be LARGER THAN QE2!
Click here to read entire interview with Eric King: