12/7/2009 Part 1/2 Peter Schiff On FOX Business: Has The Bubble Burst On Gold?

[BurnOutXL]

CNBC aka GE-Obama hpnodroid. Is gold a bubble, what about rates, is there real inflation? When China start un-pegs it's currency from USD & starts creating internal consumption to make up for our reduction, the USD could slowly implode. Didn't Obama say he wants to make us a great exporter? Well since he's a bought+paid-for union thug that wants to artificially produce a middle class using private sector $, that must mean the dollar's value has to drop. Salaries up nominally with no buying power

[Rzaforshiza]

anyone watching, see how cnbc tries to exaggerate? gold down 10.30 wow.. how terrible. Get the fuck out of here CNBC

[herbs814]

gold up 9 of the past 13 months!

silver up 9 of the past 13 months.

of the two, I'd be more bullish on gold (for the next few months' time).

[Voy2378]

4:50

LOL

[Synergistik]

These news people are have chronic amnesia. They probably can't remember what they had for break fast two days ago. I mean come on. Gold bubble? Gold going down? Sure perhaps a 20-40 dollars, from it's preview $200 jump! They are so desperate to push a particular economic agenda, it's mind boggling.

[creekesl]

All tyhese suckers give their money away to a stranger with a pipedream that they will make them a profit  wake the hell up do research invest youre own money Damn pathetic!

[SeexyyAmbeer]

looking for a man that would give me some experience.

[guidobambino]

@SeexyyAmbeer ill pound your precious little ass and then take a dump on your face?

[Seano71]

this is the time to buy silver, because in February its gonna shoot up

[FreedomIsSecurity]

damit febuary?, i was hoping to get the good tax rates for this year...

[Seano71]

yeh, think about it. The jobs news will be as good as november or better in december and in january those jobs will be lost. That'll be announced in early february, around the 7th. Then we'll see some more panic buying.

[Vunks2000]

Gold will fall to about 1045, Then after the job reports comes out and we find out we lost a lot of jobs gold will sky rocket.

Wal-mart let off all their temps on Dec. 1st. This is the same with the other companies. The temp jobs are what made us have a "good" jobs report.

The economy is about to crash.

[30percentplusreturns]

Why is this fox reporter, phil flyn, on television????? The guys lisp is so annoying. I wont watch fox business for this reason, along with the whole slew of character who are clueless.

[jag10]

currency bad

commodities good

[naggold]

When gold drops, buy it, just like the Chinese government does.

[lenny380]

interesting - this happened about a year and a half ago. Hmmm -well you figure out what's coming.

[Shaunt1]

Nothing goes straight up, I see this a s a buying opportunity. GOLD IS REAL MONEY!

[NSResponder]

Why in the world would Schiff be afraid of anything that idiot Bernanke says? When has Bernanke EVER been right?

-jcr

[Zeldovich]

Bernanke was quite right in his papers on monetary policy before joining the Fed. Since then, I can't think of one thing he's been right about. He hasn't done nearly enough shore up the economy.

[justgetsome]

He's a dove!! I love Peter.

[MoneyIsSilver]

Fox Business News: Get your financial advice from bubble head blondes - brilliant!

[rubanban5]

hope she bursts

[enemyartistkristofeR]

There is no hope for the Dollar, this is a correction. It is the xmas holidays, they want people to load up their credit cards, buy a bunch of chinese made junk and spend all their little savings they still have - once the dummies do that and the holidays end and the smoke clears and people are in more debt, their is more paper pumped into the system, then reality will set it again. And the dollar will tumble. The next rise in gold and silver will be even higher! Great job Peter.

[TheNRA4ever]

You nailed it ...very well said. I agree 100%...the economy "looks" stronger because people are spending for the holidays. Lets see how the economy looks after the first quarter of 2010.....I look at this correction in gold and silver as a buying opportunity. Just bought more American Eagle Silver Dollars and gold Maple Leafs.

[Straightsix76]

well said

[lloyddaroyd]

nice!

[nvsyru]

It seems that there is an effort to redefine the word, "Economy." One needs only to at Wikipedia for the old definition as follows:

"It is the realized economic system of a country or other area. It includes the PRODUCTION, EXCHANGE, DISTRIBUTION, and CONSUMPTION of goods and services of that area."

The economy is improving? Not in my town! Not according to the above definition! Anyone else seeing the economy in there area getting worse, not better?

[JessicaBelle81]

Proof that there's no free-market in America.

[crabtrap]

the redhead has a crush on peter,they need to hook-up .then agian maybe Peter knows what a volatile commodity redheads are .

[nobodysfool67]

she slipped Peter a mickey. He had no idea.

[ziggenzify]

Why is the establishment still taking scumbag chairman Bernake seriously? WHY? ASK YOURSELF WHY!!!

[Choros22]

If you believe the recovery story (which many people mistakenly do) then you will believe that Bernanke should be commended for what he has done. I was appalled when watching PBS commentators talking about how good a job Bernanke has done. They make out as if he was 'brave' even though ofcourse his actions were cowardly at best.

[farhadcoyote]

Are people (investors) still taking Bernanke seriously?

[Tasadaru]

I would not be surprised if gold falls below 1000 in 2011. The peak for mortgage resets according to the IMF is 2011-2012. So, just like 2008 with credit destruction hopefully gold will have a major pullback one more time within the next few years before it goes to the moon. Come on silver, go to 10 dollars again!

[CBound]

I for one have seen too many pull-backs in silver already. I'm ready for it to head much higher now.

[Hopefl1]

I knew we would hear this. These gold doomers are a joke. Hang on to it and watch and don't be a sucker.

[libertyeconomics]

It isn't that they are holding interest rates low because the economy is fragile. The longer they hold interest rates down, the more fragile the economy becomes. The issue is that the economy is FALSE, and if interest rates climb, the FALSE economy collapses.

[marcosxag]

that first guest was a fart mongrel

[becauseicare2]

I love Peter but I think it's time to eliminate the media. Everytime the markets go up it's the new bull market, every time metals go down the bubble has burst. I learned my lesson long ago. Can't even listen to these any longer. It is purely for entertainment since these people have not a clue and need a job...

[lisajason111]

the economy will be fragile forever

[winner502]

gold up 1165

the dollar went up because other countries printing money pushed up the dollar

rebound gold going up and away

schiff rules

buy on dips this is world inflation game you can tell your grandkids about

fed said they wont raise for a year

by then gold 2500

2000 bottom

schiff god bless wish you the best brave and true

[BlueSkies360]

Peter starts at 2:09

[rosewood223]

Bernanke is a criminal!!!

[Zeldovich]

Schiff acts like there's no industrial or consumer demand for gold, the latter not counting investment. He makes no sense.  Gold goes up when the dollar goes down? How about it ging up because world industrial damand and jewelers' demand rise with aggregate demand?

He's silly.

[karhu1913]

He has addressed this question before.

You have to compare how much as a % gold demand is in investing, industry and jewelry demand. I dont have exact stats but im pretty sure that gold bullion held in banks is overwhelmingly larger than the annual industry and jewelry demand. So how much of the annual demand goes in to sit in the vaults? Jewelry is quasi investment gold. You can allways sell your gold jewels and get atleast the market price -overhead.

[Zeldovich]

Right. You have no numbers, but you think you're a budding little economist.

You didn't mention one thing about supply changes in your statement.

[karhu1913]

Huh? What friggin numbers? Your the one who has made assertions of Schiffs knowledge about gold DEMAND structure not supply or its effects. Read what you posted above. lol. Now Im pretty sure Schiff has been asked before how the "Indian jewelry gold demand" or "wedding season" drives the gold prices. But you have to look it up.

Gold is a speculative investment. And hell yeah it can be a hedge against dollar and there changes in the dollar can drive gold.... Or do you disagree?

[Zeldovich]

I merely mentioned that Schiff didn't mention it here and he usualy doesn't. I've seen dozens of Schiff videos and talks, such as those at Google, the Mises Institute, and the american mortgage brokers meeting.

[FreedomAtRisk]

phil flynn, when he was a guest on cnbc i knew he was a dope, now fox hires him, guess the money management biz aint so hot eh phil

[GovWillKillU]

interest rates will be an extreme lagging indicator to real inflation imo. so gold will still outpace any benefit to the dollar from interest rates... and the stock market will be far more negatively impacted.

'course, you wont hear that from bubbleheads.

[GovWillKillU]

shakin in my boots, pal. shakin in my books. so we get our balls squuezed a bit; wtf else is new for gold longs.

[LeifEiriksson]

Thanks phil!

[solojam]

red-head bitch blocks the dumb @ss blonde, awesome stuff

[galikazoid]

thanks for sharing this