Peter Schiff - Gold to $5K? (CNBC - 11-02-09)

[D33Lux]

There is NO top because they just keep printing money. When the U.S. dollar collapses that's when everything will drop, timing is key. Another issue is there are other big players now, China, Russia, India, South & Central America...etc who are all buying gold & silver including banks.

Just look at where gold's at right now there's no stopping it.

[GusBariga]

i think Erin Brunnett really dislikes Schiff. At the end shes laughing or smurking at Schiff when then other host says " looks like Lou got the last word"

[cranic4444]

Mark haines really is abigmouth total dickhead

[wuddychunk1]

There are various ways to store your wealth. You could store it in dollars, buy a house, gold, paintings. Out of all these things I believe dollars will lose the purchasing power the most. Of course you could consume instead of save.

[Ventorez]

oh man lol he tricked him into admitting its a possible bubble this guys good.

[zeitgeisthero]

strictly gold will never be a currency. its a luxury commodity. people dont need gold to live or even to live comfortably. food, lumber, raw basic building materials are real currency because they are essential to the economy and life. gold is not. gold is no more "money" then any other raw material, except for the fact that it is hard enough to mine it, find it, and portable enough, with enough in circulation.

[dave777blaster]

yes that's true but should gold reach 3000

the US dollar will have been long gone

I suspect in 2010 sometime the US dollar will be over.

watch in 2010 the dollar will be dead

prepare for it i is coming

you have been warned

[iwog1]

Gold has been used by humans as money from around 4000 B.C. to 1971. 'Silly currency' has been used as money for what......38 years?

Yeah.....gold will never be a currency. I think someone probably said that in Rome too.

[dave777blaster]

oh and when the dollar goes if you do not have a million in gold it won't matter.

[mdunn604]

Mark Haines is a rude degenerate

[lastnoblegmail]

correct me if im wrong.

it is not only gold value is going up

but its US dollar Value going down!!!

[PseudoBull]

thats exactly why gold is rising because the US dollar is the global reserve currency. everything is denominated in US dollars. if there is a market crash again, all prices will fall including gold.

[Motoicon]

Why do they even bother? What a bunch of ignorant fools. Gold probably wont stop at 5K is the point. The idiot saying 1500 gold as a top? What a dipshit. When it exceeds his prediction of 1500 top, he will still have a job lying to the public as they smugly laugh at Peter Schiff for another round of lies to the public.

[dave777blaster]

Gold at 2500 and the US dollar will no longer exist

so how do you manage to think gold can be priced in US dollars at 5k?

your statement is foolish and ridiculous  it shows you are a repeater of fools without thinking for yourself

[Motoicon]

@dave777blaster You are woefully ignorant and filled with so much foolish pride. Maybe someday when you go back and finish school, you will be able to understand markets and currencies. (Providing you are even able to pass)In a few years you will be sucking your thumb and wetting the bed over how horribly foolish you have been. Maybe then you will understand....but I doubt it!!

[dave777blaster]

I do not think you are smart enough to tie your shoes you do not know me ,you do not even know how much gold I own But I know you are stupid because you believe gold will reach 5k$ or more the US dollar will disappear after the price reaches 2500.you can not put a US dollar price on gold beyond that price.

Once the dollar fails gold will be sold off due to bankruptcies.

causing the price to deflate .you can not understand this of course because your a repeater not a thinker

[zeitgeisthero]

gold price is not directly tied to the dollar. if it was then that would mean u.s. inflation would be up 400% in the last 10 yrs because gold is 4x what it was in 1999.

where do you get 2500 = disappearance of dollar ?

[Zaxxon2008]

agreed

dave777 makes little to no sense

[SilverRose09]

Maybe common ignorant people in america do not have the funds to buy it; however the common people of europe and asia do have it(even a communist country as China)

[traynickel]

The Time to sell your Gold is when you can barter one coin for a house or land. Use your silver for food, ammo, water, cars, tractors or a one way plane ticket to another country.

[bearcat648]

Grasso doesn't get it. In fairness, Peter could have used a better example, like the plan to use a basket of currencies including gold to sell oil to countries like China. I think we will see gold have a much larger role in international trading. Not to buy cuckoo clocks, but to buy oil and other major commodities. Gold is the best replacement for the dollar as the world reserve currency.

[captvanhalen]

Perhaps Grasso is just another paid shill, and now "they" can no longer deny that gold is going up, but instead they have to convince people that it's only going up a few more hundred -- hence, newcomers will be dissuaded to buy in. Just a thought ... i don't know anything about Grasso.

[K46620]

Peter Schiff is right. Most people forget about the effects of all this fiat money creation.

[frontier1701]

The GOLD top will be upon us when Mark Haines buys in!!! Mark Haines will be the last person into GOLD!!!

[rooper666hell]

hahaha....I agree man. when Haines buys, I'll sell.

[V3isM3]

That Grasso fella is annoying towards the end...

[tesskansas]

Grasso seems to think Schiff is talking about using gold for milk and bread purchases.

[captvanhalen]

I would have pointed out that that is what silver is for. :)

[tesskansas]

good point. thanks for responding.

[odin422]

SILVER BABY!

THAT is what people transact!!!!

[Eraser7622]

PS is, well, right again!