Colorado Goldfields Inc. “Gold Dynamics in the News” Part 6 — Gold, Currency War, US Dollar, Stock Market — Relevant Information for Company Shareholders
Marketwire “Press Releases “
LAKEWOOD, CO — (MARKET WIRE) — 11/03/10 — Colorado Goldfields Inc. (OTCBB: CGFIA) provides this commentary as Part 6 of its ” Gold Dynamics in the News” series.
To view Peter Schiff’s complete commentary, follow this link: http://www.youtube.com/watch?v=-fKoYsG9txQ
“. . . so we’re going to get higher inflation. Inflation is the act of debasing your currency. The reason that prices go up is because the money has less value. And so you need more money to buy things, and you’re seeing that. People understand that and they’re selling dollars, they’re buying gold, [ . . . ]. They’re getting out of the currency that the fed is creating. These gold stocks should be on fire right now, but they’re not because there’s so much fear in the gold market. Everybody is waiting for the prices to drop, but it hasn’t happened. I still think we have huge moves going forward, particularly in the mining stocks, which are grossly undervalued,” said gold expert Peter Schiff on October 15, 2010 in an appearance on Goldseek Radio.
Peter David Schiff is an American economist, author, commentator and popular video blogger. Schiff, a licensed stock broker, is the president of Euro Pacific Capital , headquartered in Westport, Connecticut .
Additionally, the Company reports that the hearing date for the Pride of the West Mill permit amendment before the Colorado Mined Land Reclamation Board has been extended to December 15, 2010 .