Peter Schiff vs. Gata: $56,000 Dollar Gold?

[123THERollyboy]

Sit at home and make more money in 15 minutes than most make in a week. Come visit my website, just google Gold Trading Academy to learn more.

[4redfin4]

@123THERollyboy You ever hear this saying: "If it sounds too good to be true, thats because it is."

[dynomike1964]

ETF's. NO THANKS . When you really really need the metal you will be fucked.

[Foreshadow44]

56,000 oz really, and it started at 20 dollars an oz back when the US gov made everyone sell it as it was illegal to own in the US. That = big fat goldsmith scam. Winner = gold mines and people who horded gold over the last century especially in the early part of the 20th century. Don't buy gold. It is a waste

[Foreshadow44]

Silver is suppressed because it is much more plentiful especially in the US. So if less silver is available on investment markets it is artificial. I took some silver into pawn and they told me 'we don't want it'. Really? I think these pawn and brokers say 'we buy gold' since they collect it and undercurrent market value and are getting gold that is off this normal investment market.

[kcrone1]

PUMP, PUMP, PUMP AWAY!!!!

[Lengarces]

I wonder why they Royal Metals Group cut Adrian Douglas response?

[MrBigEnchilada]

remember when back in the day, 1964 when we had SILVER 25 cent quarters? back when we had 1963 Ben Franklin SILVER dollars? why were they made in SILVER before and we can't afford to make them in silver TODAY? because silver costs $50/oz today! you can't POSSIBLY make a SILVER quarter unless if it contains 0.00001 oz silver!!! You will go BROKE!

what do you think banks keep as $? do they keep diamonds? NO!! it's gold bullion, why do you think they keep gold bullion? it's pretty?

[mrbankalot]

$OLD ... gold has made me rich

[DocWog]

Demand and supply is an economic model of price determination in a market.

Silver and gold is a good long-term investment for those who can afford it, BUT it seems to me that continuous growth of the gold price is clearly due to artificial market manipulation intentionally created by rich and powerful. By escalating people's interest and their further desires, it is obvious why price is continue sky rocketing.

[USBankruptcy]

Should have let Adrian Douglas respond at the end. I remember the interview clearly and Adrian Douglas came back at Peter after you cut the tape. And explained that the Dollar is defined by Gold and Peter is wrong because he thinks that the Gold price is defined by Dollars. Peter is smart but not as smart as Adrian Douglas.

[dennie6666]

M.Malony has said ,Silver go to $1500 next Decade !Is to small ?

[nikkhouee]

why not, Dow 50k = gold 50 k what's wrong with that?

[carlhopkinson]

Supressed PMs do not really help the investor for 2 reasons:

1) the investor might die before realizing rightful gains

2) investor is discouraged out of position since future is not 100% knowable

I don't think Peter Schiff was thinking very well here....

[Quranite]

Why can't we hear Adrian's response?

[felixdov]

The very idea of pricing Silver in US $'s is starting to look simply wrong.

I like the idea of pricing it in houses...

[valhala56]

@felixdov are you talking in terms of Monopoly houses or real Houses? LOL

[royalmetalsgroup]

@felixdov Greak fricking idea!

[jdjbarnat]

@felixdov Soon we will be pricing silver in....silver. Silver will become the new standard of currency along with gold.

[kylhul81]

@MrStephenRBrown I can tell it and I haven't been buying ETF's long. Physical delivery is the way to go I guess.

[PatriotsUnite2010]

@royalmetalsgroup

It appears that Peter Schiff still believes the FIAT Currency has a valid place in our Society. Real Assets like Physical Gold & Silver are not respected by Peter. He is immersed in the Bankers Game of Fraud and Monetarism.

While the Bankers continue their Fraud we will continue to be Slaves to The System - Open Your Eyes Peter

[GirlFromIpanema1966]

You're wasting our time with this video G4T.

[ANTIDALLARD]

@GirlFromIpanema1966 I know,. Makes you laugh, the lengths these inflation / NIA scammers will go to.

[Tomta20012]

I LOVE PETER

[nhralph]

If we ever get hyper-inflation (and we just might) then that figure is possible. For now, I will buy small quantities each month...better to be prepared.

[raymondk2005]

I think gold will go to one hundred billion trillion dollars, $56k will be in a hyperinflation scenario, but then a cup of coffee will be $1000. For the people that have a lot of good debt, i believe they can pay off their debts quite easily if they have PM's.

[notpcone]

@raymondk2005 Yep!!

[ANTIDALLARD]

@raymondk2005 A cup of coffe is getting near that price already in some of the swankier establishments inn NY

[bruno188home]

well i thought Adrian Douglas $56k/oz Au if M3 was to be backed by gold maths seed straight froward enough. i suppose if faith in the dollar is almost completely lost it could happen. does M3 take into account hundred odd trillion dollars in unfunded liabilities the government is committed to. have you got the link to the whole interview please.

[drewzillasaurusrex]

I've got the pedal to the metal literally. I can't afford big stacks like I used to. My wages have stayed the same and well you probably know. You guys are on a budge too right?  Right....:} $56000 dollars an oz. I can see the stampede now.

[drewzillasaurusrex]

I've got the pedal to the metal literally. I can't afford big stacks like I used to. My wages have stayed the same and well you probably know. You guys are on a budge too right? Right....:}

[treysparker]

Of course gold's not going to go that high. You might as well say its going to a million. Why not you know?

lol

Who's going to buy gold at that price? LOL

Peter's right, thats only possible if we encountered Zimbabwe style hyper inflation.

I mean yeah we're going to see a collapse of the dollar but gold at that price is something else entirely. It may happen 20 years from now, after QE 56 lol but not anytime soon.

[charlesfuchs]

Silver market looks great, over to $100 in 2 years.

[cpgone]

How does Schiff know the ultimate price for gold?

56K sounds high ,yes

But he doesn't know the future.

[acts131]

@cpgone Evelyn Rothschild told him how high gold was going.

[treysparker]

@cpgone so then whats wrong with him saying he doesnt think so? do you know the future? of course not, thats the point.

[TeMpTeK1]

While I would agree with Schiffs points.. he does come across a bit condescending unnecessarily..Either way theyre both on the same team and Pete could have been a bit more tactful in taking the opposite view without making the guest look like a clown.

[thugsugly]

Gold and silver suppression hurts alot more then just mining companies.

Food is directly tied to the price of silver, so by suppressing the price of silver, you suppress the price of food. so, if you are a farmer that doesn't get federal money to grow (poor quality) food, then you can't make a living and you go bankrupt, and a corporation gets your nations farmland.

Wake up, they stole your farms and resources by suppressing silver.

Peter sounds very selfish in this interview, I'm suprised.

[AtlasHBS]

I already think that gold is worth over 50,000 dollars an ounce. Is it being traded for 50 grand, No.

Worth and Price are not the same thing. When I was a kid I remember seeing a number 1 issue of the comic "punisher" it was 50 dollars on the shelf. It's WORTH was real and it was only WORTH a dollar or some tiny number (stamped right on it) but PRICE on the protector was 50 bucks. When reality hit people the price plunged and came close to it's real WORTH. Your money is an illusion.

[riverdellpark]

I actually lost respect for Schiff in that interview... if you listen to the full thing you have Peter talking over the top of Adrian the whole way through. Peter is supposed to be playing radio host in this interview - unfortunately his usual debating style emerges... he can't get from from it.

[TheAppleInvestor]

The fellow from GATA lost all credibility with his irrational views. he is a gold heretic. And Peter was 100% correct, that cheap silver and gold is a benefit to the investor, unless you're strictly a speculator and not someone looking to preserve their wealth.