Peter Schiff was on CNBC yesterday afternoon after the market closed taking on the usual panel of stock analysts/fund managers. I caught a little bit of it, and from what I saw, I was surprised to see him there, since I believe stations like CNBC prefer up-beat stuff and frown on anything smacking of gloom and doom. Which Mr. Schiff sure can dish out.

Schiff stated his case with such vigor that the panelists sort of gave up after their usual series of "yes, buts........" He articulated very well where he sees the US economy going and why. And that's down, down and then down some more.

He also says, with much conviction, that gold is going to 1000 before year-end, then 2000, then higher. Works for me.