Timing is irrelevant. People shouldn't be asking for time frames in macro economic discussions due to the multiple dynamics of corruption and denial of the federal government and their manipulation of monetary policy and interference. The macro economic fundamentals are what's important and those ultimately can not be changed. Somewhere in the world, a Chinese fella is getting stiffed his penny he lent to us, so Art Laffer is kind of a poster child of the great american "DREAM".
i wish it was enough to say I told you so, while these arrogant dumb ass so called "experts" and reporters beg for food on FEMA lines, but the fact is Im scared for my family as well cause al money is tied up in 401k which cant be moved unless my wife quits her job. I tell you now its a HUGE consideration taking that 401k savings and moving it over to Gold and Silver. She can always get another job. I hope!
Schiff is a salesmen and he is damn good. But above all, he is peddling assets on people that are low quality 'for the masses' assets that are going to make you broke eventually.
If you want to be a smug douche who thinks he's right all the time, you should try to read a book from time to time.
Gold will be at least $1375 by years end and Silver will be at least up to $17.80 again. That's inline with the current market scope. I bought silver down at $11. If I sold today in what you call a collapse, I'd still clean up. You are arguing something stupid with thousands of variables. The dollar WILL collapse eventually. By design it was meant to.
People can say his allegiance is to the Rothschilds all they want but Austrian economics are sound. If you disagree with that, you are wrong period! You can't print money based on nothing and not debase the currency. This system was doomed to fail. Average cost to build a home in 1970 was $16,000. It was $3,500 for a new car. Inflation!
Gold and silver are real money. When this bubble pops, it's the only thing that you will be able to use to buy food. Like it or not!
"Hi, my name is Peter Schiff, I'm married into the Rothschild Family, I help them out, just like my daddy did, when he recommended that Congress adopt a Central Banking System, but of course I would do that, my Rothschild Family is into the Central Bank Business, and then another thing I do, is try and convince people to buy Gold, because my Rothschild Family has cornered almost 100% of the Gold Market, so when they buy Gold, we get rich, I love my Family, were gonna have a circle jerk"
He constantly admits short term predictions are impossible. If you knew anything about bullion markets you would know that right now there is major manipulation via brokers like JPMorgan and Goldman Sachs. How is it that gold and silver prices have not risen according to the demand, when in fact there's a huge short of physical matierial?
Gold SHOULD be $2,250/oz based on all the historical data. He may be off on timing, but it will happen soon.
1. this was not a short term prediction---he made these clams over a year ago, but the truth is tht silver is dropping like a stone---down another 25 cents today!!!!!!
2. There is no shortage of silver----I can call monex or goldline and buy as much as I want for a low price---how is that a shortage---if there was a shortage the price would rise!!
How are JPMorgan and Goldman Sachs manipulating silver prices (sounds like a stoner conspiracy theory)
The Silver manipulation is 100% FACT. The drop of commodities is a direct result of market manipulation in longs and shorts. It is in shortage in the manufacturing world. Im not talking about collector coins homeslice.
You are trying to claim that silver is in trouble because it went down a quarter today? Oh no Silver is down 1 percent!! One year from today I will be laughing at you. You are a waste of my time. Get educated, then talk!
Like I said before---I just want to be clear for the record!!!!
A year ago, you and all the other silver and gold bugs told everyone they would be rich in a year if they just listened to you---but you were totally wrong then and now...
silver is going to drop like a stone as people realize the fears of inflation are overhyped!!!
25 cents is a big drop when it is at 15.50 per ounce!!
So you think in a year silver will be at what exactly-----care to take a guess??????
Inflation is not overhyped if you actually know how many paper dollars are printed versus borrowed, compiled against GDP.
Silver will drop to around $13.25 at most, then it will go right back to the $17-18 range. It's not a guess, its statistics.
Here are the facts. You dont know the first thing about investing, the dollar index, comex contracts, or how the market operates. I can't expect a moron to understand something this complex. Get an education!
I just wanted to point out that all of the people who said gold and silver would be worth a lot a year ago were totally wrong......they are droppping like a stone.
So lets make predictions and see who is more right in a year---I predict gold at $500 and silver at about $5 1 year from right now
Your logic is not fact, and you are sadly wrong. Gold is up 16% YTD, and silver is still up 10%. It drops for a few days and you say its dropping like a rock? How ignorant!
People thought the dollar would collapse by now. That didn't happen because China extended lending. The USD is a reserve currency. Which means, it's weakness raises gold/silver prices. The reason for the drop is manipulation and Europeans buying bonds to escape Greece's collapse. That will end soon. You are just cluelss!
@tonybonez Note how he says could be $2000. This video is from 2007. How has gold done since then? It has done well!!! The government and foreigners purchasing debt has helped stop inflation, but trust me, inflation is coming! You can nit pick a shaky prediction all you want, but you are just a fool!
@tonybonez Your deflation argument is silly. We are only in deflation in terms of the housing market. And guess what, it isn't deflation when their being propped up. In fact, the housing prices are currently inflated. It is not deflation when a price goes down but it is currently propped up. The money supply has grown insanely. Inflation is coming. You are insane!!! Get a clue and leave me alone!
@tonybonez You aren't even responding to what I talked about!!!! Schiff has brought up a bunch of important fact. Foreigners are keeping the dollar artificially high!! Gold will go up, because the dollar will decline. The government is trying to band aid the situation, but they can only do so for so long!!! I don't care if the $2000 prediction was wrong. Look at what has happened to gold since he made his prediction. It has gone up a lot, just not as much as he said! Go away!!!!
good call, but didnt you hear what he said about silver. I did--bought a monster box (which you can see me open on my channel) and made a lot of dough listening to this dude.
And I campaigned for him in his senate bid. We lost.
@tonybonez So his short term guesses were incorrect. So what!!! The fact is, his argument is sound. You really need to pay better attention to what he says.
@tonybonez How are the fears of inflation overhyped. The reason we don't have it yet is because our debt has been bought up in large part. But foreigners will buy less and less of it as they realize how bad the investment is. That will lead to a vicious cycle and inflation will kick in bad.
Well he wasn't too far off. It's not 2000 bucks an ounce, but it jumped significantly nonetheless, and the purchasing power of the dollar IS declining.
When the 'Royal Mint' is advertising on TV you know its over.This is 2004-6 in the property bubble. The professionals have bought cheap, and the rest of us poor schmuks are panic buying incase we miss out. And ma man ' The Schiff' is whooping up the hysteria
People need to comprehend our real national debt, compaired to what the Gov tells us,how it`s broken down, and who owns the debt. It`s over 56 TRILLION. .. with a T !!!
2/3 is medicaid, the rest is T bills to china, and then comes social security future payouts. We can never even pay just the intrest on this amount. The dollar will absolutly fail, and wipe out the middle class totally !!! This country is gone...We need to abolish the FED, remove Obama, & clean congress.
I have a bold prediction; those of you who are pro Gold. YOU WILL LIKE THIS.
If the price of Gold can stay above $950 between now and the time this FDIC/FHA/Fannie Mae and the outstanding credit default swap thing BLOWS UP and creates Banking/Loan crisis #2...
THEN GOLD COULD EASILY EXPLODE TO $2,000 PER OUNCE WITHIN I DARE SAY A MONTH!!!!
I would be very optimistic about Gold if I were a Gold bug because this FHA thing is GOING TO BLOW UP IN THE NEXT 2 YEARS!!! IT WILL BE PHASE #2 OF..
Get out of the dollar by Oct 25th. Dow will fall from 9500 to 4750 very quickly. Dollar based on the basket of currencies is currently at 70. It will drop to 40 late Oct into Nov.
Call me and save your wealth while you can. You'll regret it if you don't buy silver NOW!!!!
The title is misleading. He didn't actually say it would be there, he said it could. The title implies he made a real on when it would hit that price.
Predicting future events, in a specific time frame is very, very difficult. At 7 months into 2009, I see gold, maybe getting to $1,200, but not $2,000.
Should watch/Read the Assent of Money by Niall Ferguson and watch "Let's Make Money" by Erwin Wagenhofer. The gold Standard was un-adopted cause america could not afford to pay for the Vietnam war - and america could not pay in Gold or would have gone bankrupt in the 70's. So they went in with OPEC to make the OIL Standard and it set in American Dollars. But am quoting the Movie "Lets Make Money". But the above FOX interview is in 08. Schiff is way off. Soros and Buffet are making money.
Looks like all you armchair austrian "economists" are wrong as usual. Time to go back to your parents' basement and spend your time making pro-ron paul videos nobody will watch again
What sort of moron would buy an ounce of gold for $934.90 ($1,034 at a dealer) today, when they could only lay down $100, and buy a December Contract for $2,000.00 strike price futures option to get to the same thing. If wrong, you only lost $100
If you TRULY believe Peter Schiff, then you believe in six months gold will be at $2,000. Why in the hell wouldn't you be smart about it, and lower your cost basis, and only lay out $100 in todays money?
But yeah the options markets is what is not observed. Buying a bar of gold and waiting for it to go up to 2k is not the answer - when u can make money each day/hr/minute on a mere change of +/-
Victor Neiderhoffer was ranked the #1 fund manager for one or two years, and has at times been one of the most respected traders/fund managers in the world...
THE ONLY PROBLEM IS THAT THE IDIOT HAS GONE BANKRUPT 3 GODDAMN TIMES IN HIS CAREER!!!
He is a completely worthless moron! All he does is lose money in the long run.
The only reason any fund manager is highly regarded is IF THEY HAVE THE MEDIA TO MARKET THEM, NOTHING ELSE!!!
What do I have to do with Neiderhoffer? And how much money did he get to his clients before the bankcruptcy. If he can return me $100,000 one year, and the next year I get nothing because he's bankrupt? Then I'd go with him.
But I don't need Neiderhoffer. I do this professionally. I told people on the Happy Hour Show a couple of weeks to get ready for a gold explosion upwards (possibly up to $1,100). It's a trading mechanism. That's all. If people fall in love with their bias, then ...
I was just trying to point out that a lot of Fund Managers are actually incapable of making returns for investors because they are only "Media Dolls". They are marketed by the Media as good fund managers, but in reality they have no skill.
If you went with Niederhoffer, he would be getting you 10,000 per year with 100,00000, but after 5 years he would lose 75% of your original capital.
He has more or less done this 3 times in his career and overall has...
... (cont) when the momentum begins to fail and shorts start to come in - I WILL take advantage of their not taking their profits, and short them.
Secondly, I've been invited to plenty of other shows and am profitable - year after year.
Trading for a living isn't that hard. You just have to know the base concepts and be patient. Some try to be cowboys like Neiderhoffer and get burned now and then.
Gold is an illusion just as paper money just as electronic numbers on your bank account - it is all a matter of trust in the guarantor behind it - And your gov. has written off the right to influence the value behind it, - that is left to the owners of the privately owned Federal Reserve to do with as they please and thats what they do because you cant see through their manipulating scheemes. Free yourselves make a revolution -again.
One last thing; if you want to understand why we are in the position we are in, it really is sheer stupidity of the goverment, and the idiocy of the New World Order.
And how stupid can you possibly be to lend money to countries like the Congo, and Nicaragua and wonder why the banking system in in trouble???
This is kind of funny, because you literally do not know what to do with your assetts right now because its all changing so rapidly that anything can happen.
your responses are well thought out but wrong zurich.deflation/inflation is what you do to a bike tire . you need to clarify
"monatary" or "price" infl/defla.we have serious "price deflation" caused by the eco slow down,we will have strong "monatary inflation" because of a market flooded with fiat stimulus dollars
There is great confusion over what the exact definition of inflation is, and even deflation for that matter ACROSS THE DIFFERENT SECTORS OF FINANCE;
For example economists, and real estate people, and corporate managers, accountants, bankers, all have slightly different definitions of what it means, and subcategories of Inflation as you've pointed out.
THIS ISN'T EVEN MY AREA OF EXPERTISE!
I'm writing these posts to point out the MANIPULATION going on...
When the banks all go belly up, fiat currency will be worth nothing. You are telling me that gold and silver won't be worth anything? I don't see it. Just look at the last two depressions.
So, what is your solution then? You don't see the economy going further down? The dollar continues to go down. What would you invest in then? Do you think silver is just as bad as gold investment?
Inflation and deflation are the same thing if they are both extreme enouph.
ANYTHING IS POSSIBLE, AND DON'T PRETEND LIKE YOU KNOW WHAT IS GOING TO HAPPEN BECAUSE NOBODY DOES.
IF YOU DON'T KNOW WHAT TO DO WITH YOUR MONEY, DO NOTHING.
DON'T ALLOW PANIC TO CAUSE YOU TO MAKE POOR INVESTMENTS YOU KNOW NOTHING ABOUT...THIS IS WHAT WALL ST. COUNTS ON YOU DOING. THEY USE FEAR TO PEDDLE WORTHLESS ASSETS ON YOU.
Gold is under valued. When gold was $850oz in 1980 the same day the Dow Jones was 850. So 1 oz of gold could by 1 Dow Jones share. In 1999 the ratio was 1oz gold to 44 shares of Dow showing how over priced the Dow was. Currently the DJ is 8500 / $920 oz for gold or about a 9:1 ratio.
A normal ratio is about Dow Jones = 6 to 7 oz of gold. Your right, gold doesn't pay dividends. But you move into under valued assets and out of over valued as needed. With inflation to come, metals are a bargain.
There is no true correlations between asset classes. Its all the same as chart patterns.
What happened in the past, doesn't mean it will happen in the future with enouph certainty to justify investment.
Sorry to disagree with you GOLD guys, but GOLD IS SIMPLY AN ASSET THAT IS BEING PUSHED ONTO THE PUBLIC BY FINANCIAL INSTITUTIONS; Guess what, they make money if they can convince you to buy into ANY asset. That is thier game.
Peter Schiff is great but HE RECOMMENDS YOU BUY FOREIGN STOCKS BECAUSE HE BASICALLY IS DEALING IN FOREIGN STOCKS. What he is doing is bordering on illegal. He makes more money if foreign stocks go up in price right? If he can convince you to buy foreign stocks, (which he is doing because he is on TV ALL THE TIME RECOMMENDING THEM) then the foreign stocks go up in value and he makes money. Again, its bordering on illegal, just not quite illegal.
And so what if Gold doubles in value and goes to $2000 per ounce in the next year. It could just as easily drop to $500 per ounce in the next year.
Even if there is a 75% chance of Gold going up to $2,000 per ounce in the next year, and there is a 25% chance it will drop to $500, you are not making a sound investment.
If you compare Gold in 1913 at $20 per ounce to certain stocks that were over $600 per share in the 1920s, you will see that PRICES ARE SET AT PIVITOL POINTS...
You will see that every time Gold has recently come near the $1,000 per ounce price level it fell back. Its tested that level over and over, even with the worst financial crisis in banking ever and it can't break through.
This is what determines prices. Psychology. In today's market those psychological pivitol points are primarily set by media marketing.
This is what determines prices. Psychology. In today's market those psychological pivitol points are primarily set by media marketing.
I understand the whole idea of fiat money and all that. Frankly the more I learn about it, the more I think we can't operate and prosper without it. Think about how little expansion there could be in the economy if all money loaned out had to be backed by Gold. It would lead to deflation in wages and profits.
IF YOU DON'T KNOW WHAT TO DO WITH YOUR ASSETS, DO NOTHING.
IF THERE IS A FRENZY TO GET INTO AN ASSET, THAT MEANS THAT PRICE WILL SOON GO DOWN IN VALUE.
Gold will only raise in price if more people are buying it then are selling it AT ANY GIVEN POINT IN TIME. If 100% of the people in this board have ALREADY BOUGHT GOLD, then it is mechanically impossible for Gold to go up in price.
So it will then drop down to zero if nobody is buying because everyone has ALREADY BOUGHT!!!
If you try to adjust for inflation, in assets that are traded in public financial markets; YOU WON'T LAST MORE THEN A MONTH AS A TRADER. That if for fucking retarded proffesors with PhD's who have never made more then $60,000 per year after tax cash flow in thier lives!
And if you try to adjust for inflation on an asset from 1913 until now such as correlating Gold prices then to now...
What good is it to buy Gold now when you are going to sell it AFTER THE DOLLAR DEFLATES IN VALUE?
You are going to end up in the same place except one thing; there is an extremely good chance that Gold will drop in value because it is priced so abnormally high.
You could have invested $1,000 in Gold 15 years ago at $500 per ounce. Lets say it were at $1,000 today. You made a 100% return in 15 years. You have to pay taxes on that return. You take into account 4% per year inflation, and 4% per year risk free rate of return; opportunity cost of capital. Essentially you are looking at a return that is looking much less impressive...again, no depreciation, no cash on cash return. And the value could plummet at any point in time.
The US Eagles or Canadian Maple leafs are indeed coins and would be exempt from confiscation because they are indeed money.
Privately minted silver or gold "coins" are not really money. They are called "rounds" or "bars" depending upon shape. They supposedly can be confiscated.
BTW, even though gold was made illegal in 1934(?) no one was prosecuted......but then again, we didn't have Dept of Homeland Sec. calling people who oppose the President "extremeists" & "terrorists" back then either....
"Privately minted silver or gold "coins" are not really money."
No, I think you got the terminology wrong. Gold and silver would be real money in the free market, because they are generally accepted means of payment that retains its value.
But, the difference is that privately minted metals are not LEGAL TENDER, because a government edict tells us that only pieces of paper with some numbers are the "real" money.
I think I did get the terminology wrong. Whatever is minted by the governing bodies, THAT would not be confiscated. Whereas bullion, ie that which is minted privately, could be susceptible of confiscation. Thanks.
Everybody should stop investing in anything that has any potential for development and should stockpile gold. The more gold we stockpile the faster we'll get out of the financial crisis.
Whats so amazing is how this idiot claims to have predicted the housing bubble, but now is telling everyone to buy into the gold bubble. There is no way this is a good investment, eaither way. If the gov does save the economy than you just bought in at the top of a bubble, you lose. If the economy collapses like schiff thinks luxury items like gold are going to lose tons of value cause no one is gonna want to buy them. You might as well go out and but tulips for 1000 bucks each.
Im glad you said that. I know exactly how he likes to promote his "track record." In fact his record is fricking awful. He has never predicted anything, all he did was explain the economic realities of the bursting housing bubble in 2006. Any real economist could have told you the same thing. He just looks good by comparison cause hes arguing with fukcking laffer who has his head up his ass. Compare that to real economists ike krugman who predicted the bubble and crash in 1999. Ther's more...
Gold will never lose its value, its intrinsic. Only way gold can lose its value is if say an organization like IMF sells off majority of their gold reserves and even then gold cannot lose its "value". Only TRUE way gold can lose its value is if a big meteor crashed on this planet and was filled with 200000000000000 tons of gold. When you have an "excess" of something that is the only way you can debunk its value...similar to how we print our fiat money.
Wrong. If the US economy really collapsed the entire world economy would collapse. Of course, this would cause deflation for almost everything, but thing like copper, steel, and plastic would retain their value because they are useful while gold, which no one actually needs, would plummet. But that ISNT GOING TO HAPPEN. The important thing is that gold is bubbling and will drop again. SCHIFF says you should invest in a bubble-it the same as houses. You might as well invest in tulip bulbs
Gold can loose it's value if it's value is artificially inflated through fear of collapse when there isn't going to be a collapse. If gold can never loose value, then why does it's value go up and down?
If Gold becomes a truly great and valuable asset and if we go back to the Gold standard THE GOVERMENT WILL CONFISCATE ALL GOLD AND SELL IT BACK TO YOU AT A DEFLATED VALUE OF WHAT YOU BOUGHT IT FOR.
Peter Schiff is just another clueless "gold bug." $2,000 gold in 2009? What a joke! Gold is going down, not up. When are you "gold bugs" going to understand that the U.S. is in a deflationary environment? The price of gold will be below $700 by the end of 2010. I'm heavily short gold from $979 and I'm absolutely loving the recent sell-off.
Good choice. Because i honestly don't understand how can the loss of purchasing power possibly be from deflation..... Especially after printing easilly twice the amount of money on the market. Money supply goes up ; Inflation. Other economic theories seem like bad-shit voodoo to me.... Especially Maynard's....
CAUSE I CAN'T TAKE GOLD INTO AN AIRPORT THAT METAL DETECTORS WITHOUT THEM KNOWING IT. (you take more then $10,000 in Gold out of the country and you are committing a crime if its not disclosed)
BUT I CAN SHOVE DIAMONDS UP MY ASS, AND THEY CAN'T DETECT THEM WITH A METAL DETECTOR.
Then on top of that; Every trip you take your Gold to switzerland you have to pay transport costs.
Uhm. Isn't deflation due to the lack of money supply.... Which means you'd have to trade , for example, more for a piece of gold in the example of gold deflation? Which really only means that there is much more demand or the market is consuming more than it is supplied.... Meaning that deflation is actually a good thing for those who own the deflated ressource. Extreme deflation of a dollar would suck yes, but it cannot happen as long as we have fractional nation banking.
It really depends on how you define Inflation and deflation.
If you look at them deeply, you will find that economists, and politicians are DEFINING DEFLATION AND INFLATION IN SOME CASES AS THE SAME THING, AND THEY GENERALLY DO NOT AGREE WITH THE MORE COMPLEX DEFINITIONS ON INFLATION AND DEFLATION UNDER SELECT SCENARIOS.
This is a huge trend I'm seeing over and over again.
well that is nonsense. let me know what civilization valued gold/silver at zero
fiat currancy on the other hand almost always ends at zero . this is not a gold "buying spree" it has held very firm for over 2 years now . if the IMF dumps their gold stores on th market the price will drop for about a year till it is absurbed by the market either way, gold in 3 years $2500+
You're right. Never worth zero. People think that if gold/silver drops. Then I loose. Well, yeah short term. But when the SHTF my 1 oz gold coin that I bought for 980 last week won't be zero like the dollar. It might be 10 bucks, but that's 10 bucks the other guy doesn't have. My point....You're right own!
good for you and don't for get that shiney silver either.i look at gold /siver like i look at my $300 shotgun that sits in the closet rarely used; it might be dusty ,and i could have spent that $300 on some thing more fun, but when that back door goes bump in the night,i sure am glad that 12 guage is there(i'd gladly pay double for it then!)
you still have 30% of people with no way to generate income (because they are jobless)
So you are stuck with deflation, no matter how much currency is floating around.
The scenario of increased currency being printed and increased job losses is a scenario of total economic collapse similiar to what happened in Japan in the early 90s. (sort of)
Check out some Martin Weiss stuff. He explains it in a way that make sense.
(He also wrote a book called "crash profits" I believe)
Well yea, i could agree with that. But what about the remaining 70%? They're still working, and earning "inflated money" plus, unemployment does not mean they do not work sidelines (I am currently considered unemployed, but i still work 70 hours a week sidelines, but i am willing to admit that i may be an exception to the rule.) And this newly printed money is already pumped into the big companies, so it IS on the market, causing inflation. Correct me if i'm wrong. I like where this is going.
I just don't see how we can trust the value of gold in a horrible economy. Here is a situation. The whole world is going bankrupt and no one knows where to turn to. A international leader rises up and issues an edict that eliminates all countries debts if they join with the international leader.
I think now the fed is on a cash printing marathon, and the chinese have just about having enough of buying up US bonds, inflations is gonna drive the price of gold up, as people use confidence in paper... Oil.. that will come and go.. Economic slow down is gonna drive oil down a fair bit
That doesn't mean shit because Bernanke is bubbling your economy. But that only means the crash will be deeper and greater than ever, in other words instead of going down probably 10 to 20% as it's supposed to, it will probably drop nearly 30 or even 40%, and that's if they stop PRINTING as we speak.
The only people who don't understand why gold is going down right now is because they haven't got the slightest clue how the federal reserve and other banks are inflating the products on the market . These people who haven't done their homework DO NOT deserve to be saved from the economic crash. They're the ones CAUSING IT to BEGIN WITH. Using their credit cards for EVERYTHING and not questionning our leader's policies, wtf, why should they be saved from this...
he called the housing bubble in 2005 and now he thinks he s a god because prices dropped 40% from 2007 highs (ie. much less from the levels he called). then you have all these videos 'p.schiff is right' where he feels vindicated as from laughed about he had the last laugh.but then he does the same laughing about other people."the dollar CANT go higher,it s IMPOSSIBLE, why dont you ask if pigs grow wings can they fly?".fyg,the $ is up20% since this video,gold is nowhere near 2000.
Still eat everyday? still have clothes? still have a place to live? I would really love to know how your world has collapsed. You likely have to buy the grande instead of the venti latte at starbucks. all thats changed for me is I buy honduran ciagars instead of dominicans. Oh no!! its a recession pal not the end of the human race.
You don't understand, America is bankrupt, the government is bankrupt, what will happen when China and Japan stop pushing capital onto America? (it will happen) If the bankrupt government carry on printing money, no one will want to buy up US debt.
If you were fortunate enough to read G. Edward Griffin's MISLEADING THEORY OF QUANTITY, taken from the book "The Creature from Jekyll Island", what part do you disagree with? Here's an excerpt;
-Supply of gold is not important. Remember that the primary function of money is to measure the value to the items for which it is exchanged. The supply of gold in the world does not affect its ability to serve as money, it only affects the quantity that will be used to measure any given transaction. -
Great video, I like to talk about Silver and Gold on my youtube channel as well.
Fitrade 9 months ago
"Destroy the fiction that gold has value, and
you leave the Jewish International Financiers sitting forlorn on heaps of useless metal." - Henry Ford
wastedwasted3 1 year ago
Ramp gold up through the media.
Huge sell off.
Let the goyim take the hit.
wastedwasted3 1 year ago
Timing is irrelevant. People shouldn't be asking for time frames in macro economic discussions due to the multiple dynamics of corruption and denial of the federal government and their manipulation of monetary policy and interference. The macro economic fundamentals are what's important and those ultimately can not be changed. Somewhere in the world, a Chinese fella is getting stiffed his penny he lent to us, so Art Laffer is kind of a poster child of the great american "DREAM".
Luvanicebum 1 year ago
i wish it was enough to say I told you so, while these arrogant dumb ass so called "experts" and reporters beg for food on FEMA lines, but the fact is Im scared for my family as well cause al money is tied up in 401k which cant be moved unless my wife quits her job. I tell you now its a HUGE consideration taking that 401k savings and moving it over to Gold and Silver. She can always get another job. I hope!
facethelove 1 year ago
'could be' $2000 an oz. translation: gold's going way up soon.
mt6686 1 year ago
@mt6686
Translation: Schiff is wrong yet again with another exaggerated prediction of doom-and-gloom.
KarnejjWF 1 year ago
@KarnejjWF Well gold just reached an all-time high, so you would have done well to consider the gist of his comments.
mt6686 1 year ago
@KarnejjWF
Gold didn't go anywere near 2,000 in 2009 did it?
Schiff is a salesmen and he is damn good. But above all, he is peddling assets on people that are low quality 'for the masses' assets that are going to make you broke eventually.
zurichdublin 1 year ago
If you want to be a smug douche who thinks he's right all the time, you should try to read a book from time to time.
Gold will be at least $1375 by years end and Silver will be at least up to $17.80 again. That's inline with the current market scope. I bought silver down at $11. If I sold today in what you call a collapse, I'd still clean up. You are arguing something stupid with thousands of variables. The dollar WILL collapse eventually. By design it was meant to.
brown55061 1 year ago
People can say his allegiance is to the Rothschilds all they want but Austrian economics are sound. If you disagree with that, you are wrong period! You can't print money based on nothing and not debase the currency. This system was doomed to fail. Average cost to build a home in 1970 was $16,000. It was $3,500 for a new car. Inflation!
Gold and silver are real money. When this bubble pops, it's the only thing that you will be able to use to buy food. Like it or not!
brown55061 1 year ago
This has been flagged as spam show
Think about this.
Two investors........
One Has 5 Million Dollars in the Bank
One Has 5 Thousand in Precious Metals in His Closet
When the dollar crashes the investor with 5 Million dollars will be dead broke, the Investor with 5 thousand in PM will be rich beyond imagine!
DeathOfTheDollar2010 2 years ago
"Hi, my name is Peter Schiff, I'm married into the Rothschild Family, I help them out, just like my daddy did, when he recommended that Congress adopt a Central Banking System, but of course I would do that, my Rothschild Family is into the Central Bank Business, and then another thing I do, is try and convince people to buy Gold, because my Rothschild Family has cornered almost 100% of the Gold Market, so when they buy Gold, we get rich, I love my Family, were gonna have a circle jerk"
1981z28camaro 2 years ago
So the Rothshield family is selling its gold for worthless paper fiat currency,
--
DO you have a brain?
leonidas512 2 years ago
wtf are you talking about? selling gold for worthless paper fiat currency? did I even say anything even remotely similar to that?
1981z28camaro 2 years ago
So he was totally wrong about that prediction. why do people trust this fool...
Gold is just a useless metal.
tonybonez 2 years ago
Tell all the 3rd world nations that. They use gold and bullion to buy their groceries because their governments collapsed and overspent.
brown55061 1 year ago
the point was that his prediction was totally wrong!!
tonybonez 1 year ago
@tonybonez
He constantly admits short term predictions are impossible. If you knew anything about bullion markets you would know that right now there is major manipulation via brokers like JPMorgan and Goldman Sachs. How is it that gold and silver prices have not risen according to the demand, when in fact there's a huge short of physical matierial?
Gold SHOULD be $2,250/oz based on all the historical data. He may be off on timing, but it will happen soon.
brown55061 1 year ago
1. this was not a short term prediction---he made these clams over a year ago, but the truth is tht silver is dropping like a stone---down another 25 cents today!!!!!!
2. There is no shortage of silver----I can call monex or goldline and buy as much as I want for a low price---how is that a shortage---if there was a shortage the price would rise!!
How are JPMorgan and Goldman Sachs manipulating silver prices (sounds like a stoner conspiracy theory)
here in the real world silver is falling!!
tonybonez 1 year ago
You call 1 year long term? Okay!
The Silver manipulation is 100% FACT. The drop of commodities is a direct result of market manipulation in longs and shorts. It is in shortage in the manufacturing world. Im not talking about collector coins homeslice.
You are trying to claim that silver is in trouble because it went down a quarter today? Oh no Silver is down 1 percent!! One year from today I will be laughing at you. You are a waste of my time. Get educated, then talk!
brown55061 1 year ago
Like I said before---I just want to be clear for the record!!!!
A year ago, you and all the other silver and gold bugs told everyone they would be rich in a year if they just listened to you---but you were totally wrong then and now...
silver is going to drop like a stone as people realize the fears of inflation are overhyped!!!
25 cents is a big drop when it is at 15.50 per ounce!!
So you think in a year silver will be at what exactly-----care to take a guess??????
I think about $5 per oz
tonybonez 1 year ago
25 cents is 1.6% loss, wrong again!
Inflation is not overhyped if you actually know how many paper dollars are printed versus borrowed, compiled against GDP.
Silver will drop to around $13.25 at most, then it will go right back to the $17-18 range. It's not a guess, its statistics.
Here are the facts. You dont know the first thing about investing, the dollar index, comex contracts, or how the market operates. I can't expect a moron to understand something this complex. Get an education!
brown55061 1 year ago
DUDE YOU ARE ARGUING AGAINST FACTS!!!
I just wanted to point out that all of the people who said gold and silver would be worth a lot a year ago were totally wrong......they are droppping like a stone.
So lets make predictions and see who is more right in a year---I predict gold at $500 and silver at about $5 1 year from right now
what is your guess?????
tonybonez 1 year ago
Your logic is not fact, and you are sadly wrong. Gold is up 16% YTD, and silver is still up 10%. It drops for a few days and you say its dropping like a rock? How ignorant!
People thought the dollar would collapse by now. That didn't happen because China extended lending. The USD is a reserve currency. Which means, it's weakness raises gold/silver prices. The reason for the drop is manipulation and Europeans buying bonds to escape Greece's collapse. That will end soon. You are just cluelss!
brown55061 1 year ago
I am not talking about my logic--I am referring to the specific predictions Peter makes and point out that they did not come true!!!
Silver was down more than a dollar 4 days ago.
So lets make predictions and see who is more right in a year---I predict gold at $500 and silver at about $5 1 year from right now
what is your guess?????
" I think gold could be at $2000 an ounce by the end of 2009"---Peter Schiff (dead wrong again---it was never near $2000
tonybonez 1 year ago
@tonybonez Note how he says could be $2000. This video is from 2007. How has gold done since then? It has done well!!! The government and foreigners purchasing debt has helped stop inflation, but trust me, inflation is coming! You can nit pick a shaky prediction all you want, but you are just a fool!
jeremyraybrown 1 year ago
jeremyraybrown,
his argument is good, but infact he is wrong----gold is not even close to $2000!!!!!!!
how am I a fool---he is wrong----hyperinflation will never come to america---in fact we have deflation right now!!!!!!
tonybonez 1 year ago
@tonybonez Your deflation argument is silly. We are only in deflation in terms of the housing market. And guess what, it isn't deflation when their being propped up. In fact, the housing prices are currently inflated. It is not deflation when a price goes down but it is currently propped up. The money supply has grown insanely. Inflation is coming. You are insane!!! Get a clue and leave me alone!
jeremyraybrown 1 year ago
jeremyraybrown
why am I insane to point out that gold closed today at $1102, just about half of Mr. Schiff's wildly exagurated $2000 prediction??
tonybonez 1 year ago
@tonybonez You aren't even responding to what I talked about!!!! Schiff has brought up a bunch of important fact. Foreigners are keeping the dollar artificially high!! Gold will go up, because the dollar will decline. The government is trying to band aid the situation, but they can only do so for so long!!! I don't care if the $2000 prediction was wrong. Look at what has happened to gold since he made his prediction. It has gone up a lot, just not as much as he said! Go away!!!!
jeremyraybrown 1 year ago
@tonybonez deflation is not the problem.
kardentyrell 1 year ago
@tonybonez but it did jump up $400 dollars
His inclination was right, just not perfect.
johnaiton 1 year ago
Gold is at about half of what he said it would be at ---thats not even close....
tonybonez 1 year ago
@tonybonez God I wish I bought gold at $877 lol, its at $1900 now 2011 and I think Peter schiff said $1200 by the end of the year not $2000
LtHarkness187 5 months ago
@LtHarkness187
good call, but didnt you hear what he said about silver. I did--bought a monster box (which you can see me open on my channel) and made a lot of dough listening to this dude.
And I campaigned for him in his senate bid. We lost.
tonybonez 5 months ago
@tonybonez So his short term guesses were incorrect. So what!!! The fact is, his argument is sound. You really need to pay better attention to what he says.
jeremyraybrown 1 year ago
@tonybonez Yea your a bit off chum lol $1900 for gold atm about 1year after your comment :)
LtHarkness187 5 months ago
@tonybonez How are the fears of inflation overhyped. The reason we don't have it yet is because our debt has been bought up in large part. But foreigners will buy less and less of it as they realize how bad the investment is. That will lead to a vicious cycle and inflation will kick in bad.
jeremyraybrown 1 year ago
@brown55061 Hey You get to laugh at "Tonybonez" now
LtHarkness187 5 months ago
@LtHarkness187
laugh at tonybonez?
did you hear what peter said about silver?
I did.
Went and bought a silver eagle monster box and more than doubled my money. silver is up way more than gold
watch me open it on my channel!!-----------then see who is laughing and act like you didnt wish it was you opening that sweet green box hahahaha.
go --WATCH IT NOW BABY haha!!
tonybonez 5 months ago
@tonybonez Gold is going up. The premise for his argument is strong.
jeremyraybrown 1 year ago
Well he wasn't too far off. It's not 2000 bucks an ounce, but it jumped significantly nonetheless, and the purchasing power of the dollar IS declining.
Earthman39 2 years ago 3
if a pig sprout wings, can it fly? hahah
Paul/Schiff 2012
lexus232323 2 years ago
I would bitch slap that stupid ass cunt if I were Peter.
justse2006 2 years ago
@justse2006 i think peter would hit that not how your thinkin though lol
Depletethestate 2 years ago
This has been flagged as spam show
DO NOT BUY SILVER / GOLD.
When the 'Royal Mint' is advertising on TV you know its over.This is 2004-6 in the property bubble. The professionals have bought cheap, and the rest of us poor schmuks are panic buying incase we miss out. And ma man ' The Schiff' is whooping up the hysteria
ANTIDALLARD 2 years ago
these idiots are like kids whove just been told santa claus isnt real. they just dont get it.
cray0308 2 years ago 2
These people are arrogant pricks. Peter is right on the fiat money.
vertexclimber 2 years ago 8
If these news people new how serious this was... they wouldn`t be laughing
customstratguy 2 years ago
People need to comprehend our real national debt, compaired to what the Gov tells us,how it`s broken down, and who owns the debt. It`s over 56 TRILLION. .. with a T !!!
2/3 is medicaid, the rest is T bills to china, and then comes social security future payouts. We can never even pay just the intrest on this amount. The dollar will absolutly fail, and wipe out the middle class totally !!! This country is gone...We need to abolish the FED, remove Obama, & clean congress.
customstratguy 2 years ago
The only kind of gold to buy is antique gold, unrecorded gold coins.
louiethegreater 2 years ago
I have a bold prediction; those of you who are pro Gold. YOU WILL LIKE THIS.
If the price of Gold can stay above $950 between now and the time this FDIC/FHA/Fannie Mae and the outstanding credit default swap thing BLOWS UP and creates Banking/Loan crisis #2...
THEN GOLD COULD EASILY EXPLODE TO $2,000 PER OUNCE WITHIN I DARE SAY A MONTH!!!!
I would be very optimistic about Gold if I were a Gold bug because this FHA thing is GOING TO BLOW UP IN THE NEXT 2 YEARS!!! IT WILL BE PHASE #2 OF..
zurichdublin 2 years ago
..THE FINANCIAL CRISIS.
And If it leads to the Fed raising interest rates after this second crisis then it will be hell on earth...OR
IT WILL LEAD TO HYPERINFLATION IN THE NEXT 5 YEARS!!!
(but there will be 1-2 more financial crises after this second crisis wich I see happening in the next 4-8 months.)
I could start in 6 weeks...Most likey I'd say it will start ALL THE SUPER WEALTHY TO TAKE THEIR CAPITAL OUT OF THE COUNTRY OVERNIGHT!!!
This will be even better for Gold!
Goddamn
zurichdublin 2 years ago
I must say that Peter Schiff is really, really good.
I still don't invest in Gold, nor do I plan to, but he knows how to get things right over the long run.
I'd like to get his newsletter if he has one...he could charge a $1,000 per month and people would buy it.
zurichdublin 2 years ago
However my recommendation;
THE MINUTE YOU FIND OUT THIS FHA THING IS GOING TO BLOW UP; YOU BUY IN THE MONEY GOLD CALL OPTIONS.
This way if Gold goes up a LOT in value you WILL MAKE A LOT OF MONEY.
If Gold goes down you lose a relatively small amount of money compared to what you gain if Gold goes up.
This is how you win at trading.
This isn't easy...nobody should pretend that it is.
zurichdublin 2 years ago
But don't you be buyin' no Gold till it be well known them bankers be' messin' up agaaaaaiin.
You got to wait till' them newscasters' say them banker's and FHA's be all' messed up.
Otherwise you gonna get yo ass' smoked buyin' in too soon.
And you need to get yo' ass' some Gold options that be goin' up in price AFTER THE NEW that FDIC/FHA/Fannie Mae
cannot be saved....
Only then you be makin' investments in Gold now yall' hear'?
zurichdublin 2 years ago
FHA is ridiculous
and have you heard about the rural USDA loans
I looked into buying a house and they told me i needed 0% down and I could roll in the closing costs!!! They have not learned anything
nate850r 2 years ago
3 months to go Peter. 3 months for Gold to climb over $900
AirelonTrading 2 years ago 2
I wear a copper bracelet on each wrist. I"m ready!
emerson24 2 years ago
This has been flagged as spam show
Get out of the dollar by Oct 25th. Dow will fall from 9500 to 4750 very quickly. Dollar based on the basket of currencies is currently at 70. It will drop to 40 late Oct into Nov.
Call me and save your wealth while you can. You'll regret it if you don't buy silver NOW!!!!
5 weeks left!!!!!!
hardassets2012 2 years ago
The title is misleading. He didn't actually say it would be there, he said it could. The title implies he made a real on when it would hit that price.
kosai19 2 years ago
Predicting future events, in a specific time frame is very, very difficult. At 7 months into 2009, I see gold, maybe getting to $1,200, but not $2,000.
freedhwy 2 years ago 2
peter is the man.....
danielstwin 2 years ago
Should watch/Read the Assent of Money by Niall Ferguson and watch "Let's Make Money" by Erwin Wagenhofer. The gold Standard was un-adopted cause america could not afford to pay for the Vietnam war - and america could not pay in Gold or would have gone bankrupt in the 70's. So they went in with OPEC to make the OIL Standard and it set in American Dollars. But am quoting the Movie "Lets Make Money". But the above FOX interview is in 08. Schiff is way off. Soros and Buffet are making money.
klindatheau 2 years ago
Peter Schiff is cool.
Watch this:
Gold Rush - The Gold Conspiracy
HolzapfelNelson 2 years ago
Looks like all you armchair austrian "economists" are wrong as usual. Time to go back to your parents' basement and spend your time making pro-ron paul videos nobody will watch again
idigl7220 2 years ago
He said gold could reach $2000 an ounce in 2009, he never said it would. He did say the housing bubble would collapse, and it did.
I take it you are not an Austrian, are you a keynesian or a monetarist by chance?
KommanderWill 2 years ago
The guy has less than 6 months to make $2,000
What sort of moron would buy an ounce of gold for $934.90 ($1,034 at a dealer) today, when they could only lay down $100, and buy a December Contract for $2,000.00 strike price futures option to get to the same thing. If wrong, you only lost $100
If you TRULY believe Peter Schiff, then you believe in six months gold will be at $2,000. Why in the hell wouldn't you be smart about it, and lower your cost basis, and only lay out $100 in todays money?
AirelonTrading 2 years ago 2
But yeah the options markets is what is not observed. Buying a bar of gold and waiting for it to go up to 2k is not the answer - when u can make money each day/hr/minute on a mere change of +/-
klindatheau 2 years ago
93% of hedge fund managers go bankrupt within 6 years!!!
What does that tell you?
Most people are going to go bankrupt in 6 weeks months trying to trade on thier own.
That's how hard it is.
zurichdublin 2 years ago
Victor Neiderhoffer was ranked the #1 fund manager for one or two years, and has at times been one of the most respected traders/fund managers in the world...
THE ONLY PROBLEM IS THAT THE IDIOT HAS GONE BANKRUPT 3 GODDAMN TIMES IN HIS CAREER!!!
He is a completely worthless moron! All he does is lose money in the long run.
The only reason any fund manager is highly regarded is IF THEY HAVE THE MEDIA TO MARKET THEM, NOTHING ELSE!!!
THEY HAVE NO SKILL WHATSOEVER...
zurichdublin 2 years ago
What do I have to do with Neiderhoffer? And how much money did he get to his clients before the bankcruptcy. If he can return me $100,000 one year, and the next year I get nothing because he's bankrupt? Then I'd go with him.
But I don't need Neiderhoffer. I do this professionally. I told people on the Happy Hour Show a couple of weeks to get ready for a gold explosion upwards (possibly up to $1,100). It's a trading mechanism. That's all. If people fall in love with their bias, then ...
AirelonTrading 2 years ago
I wasn't knocking you Airelon.
I was just trying to point out that a lot of Fund Managers are actually incapable of making returns for investors because they are only "Media Dolls". They are marketed by the Media as good fund managers, but in reality they have no skill.
If you went with Niederhoffer, he would be getting you 10,000 per year with 100,00000, but after 5 years he would lose 75% of your original capital.
He has more or less done this 3 times in his career and overall has...
zurichdublin 2 years ago
Lost about 225% of the value of the investments he has controlled (3 funds have lost this much for a combined total)
And this is a guy who is supposed to be really good (was ranked #1)
Can you imagine how bad the AVERAGE Fund Manager must be?!?!
zurichdublin 2 years ago
... (cont) when the momentum begins to fail and shorts start to come in - I WILL take advantage of their not taking their profits, and short them.
Secondly, I've been invited to plenty of other shows and am profitable - year after year.
Trading for a living isn't that hard. You just have to know the base concepts and be patient. Some try to be cowboys like Neiderhoffer and get burned now and then.
AirelonTrading 2 years ago
Gold is an illusion just as paper money just as electronic numbers on your bank account - it is all a matter of trust in the guarantor behind it - And your gov. has written off the right to influence the value behind it, - that is left to the owners of the privately owned Federal Reserve to do with as they please and thats what they do because you cant see through their manipulating scheemes. Free yourselves make a revolution -again.
prebenso 2 years ago
its not gold n silver that are changing in value, its the purchasing power in the monetary unit that fluctuates. Peter Schiff is the man
ExposingUncleSham 2 years ago
Hey, if Wall St. had a truly valuable asset, do you think they would want to sell it to you?
NO, they would keep it for themselves.
Its the same old shit, the same old garbage packaged a different way.
Hold onto your money and don't try to play thier game, because unless you are a proffessional trader, you are going to get burned...
(I happen to also be a proffessional trader so this is my game)
lol
zurichdublin 2 years ago
One last thing; if you want to understand why we are in the position we are in, it really is sheer stupidity of the goverment, and the idiocy of the New World Order.
And how stupid can you possibly be to lend money to countries like the Congo, and Nicaragua and wonder why the banking system in in trouble???
zurichdublin 2 years ago
Comment removed
zurichdublin 2 years ago
This is kind of funny, because you literally do not know what to do with your assetts right now because its all changing so rapidly that anything can happen.
"Should we go back to the Gold standard?"
We may not have a choice!
zurichdublin 2 years ago
your responses are well thought out but wrong zurich.deflation/inflation is what you do to a bike tire . you need to clarify
"monatary" or "price" infl/defla.we have serious "price deflation" caused by the eco slow down,we will have strong "monatary inflation" because of a market flooded with fiat stimulus dollars
crabtrap 2 years ago
Excellent point crabtree.
There is great confusion over what the exact definition of inflation is, and even deflation for that matter ACROSS THE DIFFERENT SECTORS OF FINANCE;
For example economists, and real estate people, and corporate managers, accountants, bankers, all have slightly different definitions of what it means, and subcategories of Inflation as you've pointed out.
THIS ISN'T EVEN MY AREA OF EXPERTISE!
I'm writing these posts to point out the MANIPULATION going on...
zurichdublin 2 years ago
Its simply an asset being pushed on people by Wall St. just like all the other assets.
If they can get you to buy, they will win!
Schiff is ultimately just another broker/dealer. HE IS SELLING YOU FOREIGN STOCKS, GOLD, ECT. He has enouph influence to move the entire market...
It should be illegal. But that's how it works.
Whatever.
Good luck to anyone who buys Gold. I just think its fascinating how Schiff is pulling off the same old tricks everyone on Wall St. always has done!
zurichdublin 2 years ago
When the banks all go belly up, fiat currency will be worth nothing. You are telling me that gold and silver won't be worth anything? I don't see it. Just look at the last two depressions.
emerson24 2 years ago
The banks haven't gone belly up because the Goverment will not allow that to happen at ANY COST!
Now, if the goverment defaults, (the Federal Goverment of the USA) then the banks will go belly up, possibly.
See, no matter what happens because Gold is near its all time high, it simply doesn't want to push over $1,000 per ounce.
This is just the way markets work.
There's going to be MILLIONS of people who are going to lose money investing in Gold, that is a fact.
zurichdublin 2 years ago 2
So, what is your solution then? You don't see the economy going further down? The dollar continues to go down. What would you invest in then? Do you think silver is just as bad as gold investment?
emerson24 2 years ago
Emerson;
If you were talking to me, I would recommend international real estate if you can get good and true title to the property.
zurichdublin 2 years ago
Comment removed
GucciGucci86 2 years ago
Gucci;
Inflation and deflation are the same thing if they are both extreme enouph.
ANYTHING IS POSSIBLE, AND DON'T PRETEND LIKE YOU KNOW WHAT IS GOING TO HAPPEN BECAUSE NOBODY DOES.
IF YOU DON'T KNOW WHAT TO DO WITH YOUR MONEY, DO NOTHING.
DON'T ALLOW PANIC TO CAUSE YOU TO MAKE POOR INVESTMENTS YOU KNOW NOTHING ABOUT...THIS IS WHAT WALL ST. COUNTS ON YOU DOING. THEY USE FEAR TO PEDDLE WORTHLESS ASSETS ON YOU.
zurichdublin 2 years ago
Everyone is talking about the Fed being abolished because of that stupid book "The Creature From Jekyll Island".
Hell it made me realize that there is no way in hell this world can operate without the current banking system in place.
LOL
zurichdublin 2 years ago
thanks 1kings1918 )))
gus19668 2 years ago
Gold and Silver is money! Not Paper that is in your pockets! Buy now, before the Stock Market drops! Support your family!
acanzoni19 2 years ago
Gold HAS NO CASH FLOW RETURN.
Gold was at $800 per ounce in the early 80's, then it tanked.
DO NOT BET ON MAKING MONEY ON ASSETS THAT ARE HISTORICALLY AT EXTREME LEVELS.
Fundamentals don't drive markets.
IF EVERYONE IN THE WORLD BUYS GOLD, IT WILL ONLY GO UP IN VALUE AS PEOPLE BUY MORE AND MORE OF IT.
After everyone owns Gold it has no value. Its hard to explain, and it makes no sense. And there are a lot of contradictions.
zurichdublin 2 years ago
Gold is under valued. When gold was $850oz in 1980 the same day the Dow Jones was 850. So 1 oz of gold could by 1 Dow Jones share. In 1999 the ratio was 1oz gold to 44 shares of Dow showing how over priced the Dow was. Currently the DJ is 8500 / $920 oz for gold or about a 9:1 ratio.
A normal ratio is about Dow Jones = 6 to 7 oz of gold. Your right, gold doesn't pay dividends. But you move into under valued assets and out of over valued as needed. With inflation to come, metals are a bargain.
1kings1918 2 years ago
Redo 2nd & 3rd line...
" In 1999 the ratio was 1 share Dow Jones to 44 oz gold (bottomed at $235/oz) showing how over priced the Dow was."
1kings1918 2 years ago
There is no true correlations between asset classes. Its all the same as chart patterns.
What happened in the past, doesn't mean it will happen in the future with enouph certainty to justify investment.
Sorry to disagree with you GOLD guys, but GOLD IS SIMPLY AN ASSET THAT IS BEING PUSHED ONTO THE PUBLIC BY FINANCIAL INSTITUTIONS; Guess what, they make money if they can convince you to buy into ANY asset. That is thier game.
zurichdublin 2 years ago
Peter Schiff is great but HE RECOMMENDS YOU BUY FOREIGN STOCKS BECAUSE HE BASICALLY IS DEALING IN FOREIGN STOCKS. What he is doing is bordering on illegal. He makes more money if foreign stocks go up in price right? If he can convince you to buy foreign stocks, (which he is doing because he is on TV ALL THE TIME RECOMMENDING THEM) then the foreign stocks go up in value and he makes money. Again, its bordering on illegal, just not quite illegal.
zurichdublin 2 years ago
And so what if Gold doubles in value and goes to $2000 per ounce in the next year. It could just as easily drop to $500 per ounce in the next year.
Even if there is a 75% chance of Gold going up to $2,000 per ounce in the next year, and there is a 25% chance it will drop to $500, you are not making a sound investment.
If you compare Gold in 1913 at $20 per ounce to certain stocks that were over $600 per share in the 1920s, you will see that PRICES ARE SET AT PIVITOL POINTS...
zurichdublin 2 years ago
You will see that every time Gold has recently come near the $1,000 per ounce price level it fell back. Its tested that level over and over, even with the worst financial crisis in banking ever and it can't break through.
This is what determines prices. Psychology. In today's market those psychological pivitol points are primarily set by media marketing.
zurichdublin 2 years ago
This is what determines prices. Psychology. In today's market those psychological pivitol points are primarily set by media marketing.
I understand the whole idea of fiat money and all that. Frankly the more I learn about it, the more I think we can't operate and prosper without it. Think about how little expansion there could be in the economy if all money loaned out had to be backed by Gold. It would lead to deflation in wages and profits.
zurichdublin 2 years ago
WE END UP IN THE SAME PLACE NO MATTER WHAT BASICALLY.
The Fed prints more money which leads to...Inflation; products cost more, wages go up.
If the Fed recalls a percentage of currency notes...Deflation; products cost less, wages go down. What diference does it make?
zurichdublin 2 years ago
Comment removed
zurichdublin 2 years ago
IF YOU DON'T KNOW WHAT TO DO WITH YOUR ASSETS, DO NOTHING.
IF THERE IS A FRENZY TO GET INTO AN ASSET, THAT MEANS THAT PRICE WILL SOON GO DOWN IN VALUE.
Gold will only raise in price if more people are buying it then are selling it AT ANY GIVEN POINT IN TIME. If 100% of the people in this board have ALREADY BOUGHT GOLD, then it is mechanically impossible for Gold to go up in price.
So it will then drop down to zero if nobody is buying because everyone has ALREADY BOUGHT!!!
zurichdublin 2 years ago
SCHIFF HAS A GOOD MIND BUT HE IS A SALESMAN; HE USES ANALOGIES AND ABSOLUTES TO JUSTIFY PEDDLING ASSETS ON PEOPLE.
Don't get me wrong he is good, but at the end of the day he is a DEALER.
If you follow his advice at any given point in time you may either win or lose...that's not investing.
POINT BEING THERE IS NO SECURITY IN THIS TYPE OF INVESTING.
I DON'T KNOW OF ANYONE WHO HAS MADE A FORTUNE IN THE STOCK MARKET.
That is saying a lot considering all my investors are accredited
zurichdublin 2 years ago
"Hey, I'm a Fund Manager with more assets by far then Schiff; listen to this."
Judging by your comments, I call bulls**t. These irrational anti-gold rants are truly getting tiresome.
freedomobserver 2 years ago
Freedomobserver;
You probably try to adjust for inflation in Gold prices and conclude that it is undervalued...
zurichdublin 2 years ago
If you try to adjust for inflation, in assets that are traded in public financial markets; YOU WON'T LAST MORE THEN A MONTH AS A TRADER. That if for fucking retarded proffesors with PhD's who have never made more then $60,000 per year after tax cash flow in thier lives!
And if you try to adjust for inflation on an asset from 1913 until now such as correlating Gold prices then to now...
Holy SHIT YOU WOULD BE FUCKED!!!
zurichdublin 2 years ago
What good is it to buy Gold now when you are going to sell it AFTER THE DOLLAR DEFLATES IN VALUE?
You are going to end up in the same place except one thing; there is an extremely good chance that Gold will drop in value because it is priced so abnormally high.
zurichdublin 2 years ago
You could have invested $1,000 in Gold 15 years ago at $500 per ounce. Lets say it were at $1,000 today. You made a 100% return in 15 years. You have to pay taxes on that return. You take into account 4% per year inflation, and 4% per year risk free rate of return; opportunity cost of capital. Essentially you are looking at a return that is looking much less impressive...again, no depreciation, no cash on cash return. And the value could plummet at any point in time.
zurichdublin 2 years ago
I'm in Commercial Real Estate by the way...
zurichdublin 2 years ago
can the goberment confiscated EAGLE coins ??? thanks for answers
gus19668 2 years ago
The US Eagles or Canadian Maple leafs are indeed coins and would be exempt from confiscation because they are indeed money.
Privately minted silver or gold "coins" are not really money. They are called "rounds" or "bars" depending upon shape. They supposedly can be confiscated.
BTW, even though gold was made illegal in 1934(?) no one was prosecuted......but then again, we didn't have Dept of Homeland Sec. calling people who oppose the President "extremeists" & "terrorists" back then either....
1kings1918 2 years ago
"Privately minted silver or gold "coins" are not really money."
No, I think you got the terminology wrong. Gold and silver would be real money in the free market, because they are generally accepted means of payment that retains its value.
But, the difference is that privately minted metals are not LEGAL TENDER, because a government edict tells us that only pieces of paper with some numbers are the "real" money.
freedomobserver 2 years ago
I think I did get the terminology wrong. Whatever is minted by the governing bodies, THAT would not be confiscated. Whereas bullion, ie that which is minted privately, could be susceptible of confiscation. Thanks.
1kings1918 2 years ago
You wont be able to see the sign of a spike until it is upon you, it will not go down. 2k and oz will be here sooner than you think.
ChiccoAndGtv 2 years ago
Well... I don't really see any signs of moving to $2000/oz of gold this year, so far...
GoldSilver588 2 years ago
Solid advice there!
Everybody should stop investing in anything that has any potential for development and should stockpile gold. The more gold we stockpile the faster we'll get out of the financial crisis.
Make all your teeth gold, people.
11thsockpuppet 2 years ago
If the economy collapses, gold will not be a luxury item. It will *be* money. Obviously, people will want it. How could you not want money?
twk373 2 years ago
Whats so amazing is how this idiot claims to have predicted the housing bubble, but now is telling everyone to buy into the gold bubble. There is no way this is a good investment, eaither way. If the gov does save the economy than you just bought in at the top of a bubble, you lose. If the economy collapses like schiff thinks luxury items like gold are going to lose tons of value cause no one is gonna want to buy them. You might as well go out and but tulips for 1000 bucks each.
hiredgoons10 2 years ago
wow... you really have no idea what you're talking about do you?
Do you have any idea of Peter Schiff's track record? Type in "Peter Schiff was right".
You shouldn't talk about something you know nothing about.
rontimus 2 years ago
Im glad you said that. I know exactly how he likes to promote his "track record." In fact his record is fricking awful. He has never predicted anything, all he did was explain the economic realities of the bursting housing bubble in 2006. Any real economist could have told you the same thing. He just looks good by comparison cause hes arguing with fukcking laffer who has his head up his ass. Compare that to real economists ike krugman who predicted the bubble and crash in 1999. Ther's more...
hiredgoons10 2 years ago
Gold will never lose its value, its intrinsic. Only way gold can lose its value is if say an organization like IMF sells off majority of their gold reserves and even then gold cannot lose its "value". Only TRUE way gold can lose its value is if a big meteor crashed on this planet and was filled with 200000000000000 tons of gold. When you have an "excess" of something that is the only way you can debunk its value...similar to how we print our fiat money.
Supply is more of a factor than demand
thekid22585 2 years ago
Wrong. If the US economy really collapsed the entire world economy would collapse. Of course, this would cause deflation for almost everything, but thing like copper, steel, and plastic would retain their value because they are useful while gold, which no one actually needs, would plummet. But that ISNT GOING TO HAPPEN. The important thing is that gold is bubbling and will drop again. SCHIFF says you should invest in a bubble-it the same as houses. You might as well invest in tulip bulbs
hiredgoons10 2 years ago
Gold can loose it's value if it's value is artificially inflated through fear of collapse when there isn't going to be a collapse. If gold can never loose value, then why does it's value go up and down?
IAmHilarious 2 years ago
If Gold becomes a truly great and valuable asset and if we go back to the Gold standard THE GOVERMENT WILL CONFISCATE ALL GOLD AND SELL IT BACK TO YOU AT A DEFLATED VALUE OF WHAT YOU BOUGHT IT FOR.
You can't win with Gold, I'm telling you.
zurichdublin 2 years ago
My understanding is that they can only do that with bullion gold.
emerson24 2 years ago
Peter Schiff is just another clueless "gold bug." $2,000 gold in 2009? What a joke! Gold is going down, not up. When are you "gold bugs" going to understand that the U.S. is in a deflationary environment? The price of gold will be below $700 by the end of 2010. I'm heavily short gold from $979 and I'm absolutely loving the recent sell-off.
CB9YT 2 years ago
Hahahahahahaha!!!!!
You're so clueless. Goodluck man, you're gonna need it! :)
treysparker 2 years ago 4
FUCK yeah CB9YT.
We are totally in deflation.
Job losses up the ass. Nobody has money to spend...that's deflation
zurichdublin 2 years ago
No, it's not. Read a book about austrian economics.
ExquisiteDoom 2 years ago
Well, we can read books on 10 different economic theories and we're do we end up?
None of them are right or wrong, they are just ways to try to understand everything aren't they?
(Austrian Economic school of thought makes sense to me though, I will study it in depth and see what conclusions I come to)
zurichdublin 2 years ago
Good choice. Because i honestly don't understand how can the loss of purchasing power possibly be from deflation..... Especially after printing easilly twice the amount of money on the market. Money supply goes up ; Inflation. Other economic theories seem like bad-shit voodoo to me.... Especially Maynard's....
ExquisiteDoom 2 years ago
I'm saying if you look at Deflation in its extreme forms, and Inflation in its extreme form, they are pretty much the same thing.
How do you want to define them? Hell, you can sit around and argue this shit for years, but the bottom line is what is your dollar buying RIGHT NOW?
zurichdublin 2 years ago
That's were the whole system is in turmoil right now.
If Gold goes to $5,000 in value, and all the currencies of the world have 5% of the buying power they have now, then you are in the same place.
Trade in your $5,000 Gold for Euro's that have 5% of the buying power they have now, and you are in the same place.
I'd rather shove diamonds up my ass then gold bricks you know?
zurichdublin 2 years ago
CAUSE I CAN'T TAKE GOLD INTO AN AIRPORT THAT METAL DETECTORS WITHOUT THEM KNOWING IT. (you take more then $10,000 in Gold out of the country and you are committing a crime if its not disclosed)
BUT I CAN SHOVE DIAMONDS UP MY ASS, AND THEY CAN'T DETECT THEM WITH A METAL DETECTOR.
Then on top of that; Every trip you take your Gold to switzerland you have to pay transport costs.
zurichdublin 2 years ago
Comment removed
zurichdublin 2 years ago
Uhm. Isn't deflation due to the lack of money supply.... Which means you'd have to trade , for example, more for a piece of gold in the example of gold deflation? Which really only means that there is much more demand or the market is consuming more than it is supplied.... Meaning that deflation is actually a good thing for those who own the deflated ressource. Extreme deflation of a dollar would suck yes, but it cannot happen as long as we have fractional nation banking.
ExquisiteDoom 2 years ago
It really depends on how you define Inflation and deflation.
If you look at them deeply, you will find that economists, and politicians are DEFINING DEFLATION AND INFLATION IN SOME CASES AS THE SAME THING, AND THEY GENERALLY DO NOT AGREE WITH THE MORE COMPLEX DEFINITIONS ON INFLATION AND DEFLATION UNDER SELECT SCENARIOS.
This is a huge trend I'm seeing over and over again.
zurichdublin 2 years ago
And its a tactic to create huge confusion and to DENY CREDIBILITY by asset managers, bankers, politicians, economists, and anyone involved in banking
zurichdublin 2 years ago
as to your negitive look on gold/silver
well that is nonsense. let me know what civilization valued gold/silver at zero
fiat currancy on the other hand almost always ends at zero . this is not a gold "buying spree" it has held very firm for over 2 years now . if the IMF dumps their gold stores on th market the price will drop for about a year till it is absurbed by the market either way, gold in 3 years $2500+
crabtrap 2 years ago
You're right. Never worth zero. People think that if gold/silver drops. Then I loose. Well, yeah short term. But when the SHTF my 1 oz gold coin that I bought for 980 last week won't be zero like the dollar. It might be 10 bucks, but that's 10 bucks the other guy doesn't have. My point....You're right own!
thatguyashe 2 years ago
good for you and don't for get that shiney silver either.i look at gold /siver like i look at my $300 shotgun that sits in the closet rarely used; it might be dusty ,and i could have spent that $300 on some thing more fun, but when that back door goes bump in the night,i sure am glad that 12 guage is there(i'd gladly pay double for it then!)
crabtrap 2 years ago
That's mainly what i have. I try to keep it at 1oz of gold for every 100 oz of silver. What's you're thoughts on that ratio?
thatguyashe 2 years ago
sounds like a great plan to me.
if consumer production ever starts moving agian silver will sky rocket (being an industrial metal) probably will out preform gold big time .
crabtrap 2 years ago
ExquisiteDoom;
See we are already arguing over definitions of terms.
Lets not waste our time on that. Look at it this way;
If unemployment hits 30% for example, and nobody has any jobs, then the cost of goods goes down because not as many people will spend money.
This is a form of deflation.
With all the new money being printed, (which most people agree causes Inflation) you have a strange scenario which isn't really supposed to exist.
But (read my next comment)
zurichdublin 2 years ago
you still have 30% of people with no way to generate income (because they are jobless)
So you are stuck with deflation, no matter how much currency is floating around.
The scenario of increased currency being printed and increased job losses is a scenario of total economic collapse similiar to what happened in Japan in the early 90s. (sort of)
Check out some Martin Weiss stuff. He explains it in a way that make sense.
(He also wrote a book called "crash profits" I believe)
zurichdublin 2 years ago
Read my comments above this one for my explanation.
zurichdublin 2 years ago
Well yea, i could agree with that. But what about the remaining 70%? They're still working, and earning "inflated money" plus, unemployment does not mean they do not work sidelines (I am currently considered unemployed, but i still work 70 hours a week sidelines, but i am willing to admit that i may be an exception to the rule.) And this newly printed money is already pumped into the big companies, so it IS on the market, causing inflation. Correct me if i'm wrong. I like where this is going.
ExquisiteDoom 2 years ago
I just don't see how we can trust the value of gold in a horrible economy. Here is a situation. The whole world is going bankrupt and no one knows where to turn to. A international leader rises up and issues an edict that eliminates all countries debts if they join with the international leader.
sizeablealarm 2 years ago
zaitgeist has explaned it all-nothing to add
sulevss 2 years ago
I think now the fed is on a cash printing marathon, and the chinese have just about having enough of buying up US bonds, inflations is gonna drive the price of gold up, as people use confidence in paper... Oil.. that will come and go.. Economic slow down is gonna drive oil down a fair bit
TheWillOfG 2 years ago
it is april and gold price is as in summer!
sulevss 2 years ago
That doesn't mean shit because Bernanke is bubbling your economy. But that only means the crash will be deeper and greater than ever, in other words instead of going down probably 10 to 20% as it's supposed to, it will probably drop nearly 30 or even 40%, and that's if they stop PRINTING as we speak.
ExquisiteDoom 2 years ago 2
Peter Schiff is peter schitt! listen to his bullshit! look the prices of gold and oil now! what a liar!
sulevss 2 years ago
Yeah... Looking at the gold price....? And?
TheWillOfG 2 years ago
And it's still April... we still got 8 months
unodepoalli 2 years ago
he was hustling gold, not oil. gold has gone up...not to 2000, but up.
HouseNigro 2 years ago
why not 2000 if he is so brilliant?minus 50%?shit.
sulevss 2 years ago
Gold and Oil were the last to perk in the 1970s inflationary period... Don't worry... gold will be back once inflation truly kicks in....
Halvy14 2 years ago 2
hope,hope,hope.all bullshit
sulevss 2 years ago
We can't just print money and expect the dollar's value to remain constant... Gold HAS to go up from here
Halvy14 2 years ago 2
The only people who don't understand why gold is going down right now is because they haven't got the slightest clue how the federal reserve and other banks are inflating the products on the market . These people who haven't done their homework DO NOT deserve to be saved from the economic crash. They're the ones CAUSING IT to BEGIN WITH. Using their credit cards for EVERYTHING and not questionning our leader's policies, wtf, why should they be saved from this...
ExquisiteDoom 2 years ago 2
Agree!!!
Deutsche22 2 years ago
Best time to do it is in winter. With the lights off it gets really cold.
No food, but guns and ammo up to the neck leads to some nasty infighting.
Cannibalism anyone.
DosentHave2beThisWay 2 years ago
what joker.
he called the housing bubble in 2005 and now he thinks he s a god because prices dropped 40% from 2007 highs (ie. much less from the levels he called). then you have all these videos 'p.schiff is right' where he feels vindicated as from laughed about he had the last laugh.but then he does the same laughing about other people."the dollar CANT go higher,it s IMPOSSIBLE, why dont you ask if pigs grow wings can they fly?".fyg,the $ is up20% since this video,gold is nowhere near 2000.
johnny88walker 2 years ago
bullshit $2000? unless the entire western world falls apart I highly doubt it.
Thespartan18 2 years ago
it is currently collapsing
McLarensupporter 2 years ago
Still eat everyday? still have clothes? still have a place to live? I would really love to know how your world has collapsed. You likely have to buy the grande instead of the venti latte at starbucks. all thats changed for me is I buy honduran ciagars instead of dominicans. Oh no!! its a recession pal not the end of the human race.
Thespartan18 2 years ago
You don't understand, America is bankrupt, the government is bankrupt, what will happen when China and Japan stop pushing capital onto America? (it will happen) If the bankrupt government carry on printing money, no one will want to buy up US debt.
McLarensupporter 2 years ago
If you were fortunate enough to read G. Edward Griffin's MISLEADING THEORY OF QUANTITY, taken from the book "The Creature from Jekyll Island", what part do you disagree with? Here's an excerpt;
-Supply of gold is not important. Remember that the primary function of money is to measure the value to the items for which it is exchanged. The supply of gold in the world does not affect its ability to serve as money, it only affects the quantity that will be used to measure any given transaction. -
ilovethiscountry1 2 years ago