Schiff : Well, it's good for China. For the U.S. it's going to lead to a rude awakening. For now, it's going to be a slow appreciation so it will take a little while before the impact of a stronger RMB affects the U.S. But it will affect us in the short run in a very negative way ... because if the Chinese are going to allow their currency to rise, they don't have to buy as many
Are you going to try and invest in China at this point? Schiff: Well I've been investing there for many, many years and I will continue to do so. In fact, a strengthening RMB is part of my thesis. They're one of the reasons I'm in China. And my whole focus on my Chinese investments is domestic demand. I want to benefit from the increased purchasing power of the Chinese middle class, and that is exactly what a strengthening RMB is going to lead to.
How are you investing? Schiff: Mostly Chinese companies that are growing market share in China. I also play the Chinese market by buying some of the resource companies around the world
You want to avoid
Not only are we losing that production
|More on Gold Gold Price News|
|How to Invest in Gold|