Alpha oculus News! Peter Schiff-Gold to $10,000, Gold IS money!! Gold and Silver market.

[SuperCulloden]

Well, in a couple more days it will be January, 2012 and all of the gold pushers, pundits and gurus are completely silent while gold is now in the $1500s ...... so much for the predicted $10000 by Schiff and other useless 'prophets' who make money by selling gold to the gullible. Things haven't changed much from the days when a crook would roll into town on a wagon, beat on a large drum and sell the rubes an elixir that would cure every disease known to man, and all for only one thin dime.

[SuperCulloden]

The question is..... How can the U.S. Economy grow, when over the past sixty years the American Industrial Base has been stripped and shipped out of the Country by so-called U.S. manufacturers?

How can the U.S. economy grow while the labels on every item you now buy has a "MADE IN CHINA" tag on it?

How can the U.S. Economy grow while the Japanese ship cars to assembly plants here in KIT FORM while keeping the REAL MANUFACTURING jobs in Japan?

The American public has been suckered.

[Mr77Face]

I remember telling people to buy Gold in '07. They laughed at me. I bought 22.1 Kilograms of Gold bullion, and now some of those people are out of a job. Guess who's laughing now? Payback is a bitch.

[1XMarksSpot]

Ron Paul 2012

He has never voted to raise taxes.

He has never voted for an unbalanced budget.

He has never voted for a federal restriction on gun ownership.

He has never voted to raise congressional pay.

He has never voted to increase the power of the executive branch.

He voted against the Patriot Act.

He voted against the Iraq War.

He returns a portion of his annual congressional office budget to the U.S. Treasury every year.

[Bravesfan4500]

@1XMarksSpot vote for Jesus Christ

[trangenusa]

Peter Schiff is wishful thinking that Gold will go to $10k. Never happen as long as JP Morgan Chase and HSBC manipulating the price. Like the way they shorted Silver during May /June 2011. Even Gold / Silver is manipulated market. COMEX has only 1% of outstanding silver contracts. They are in default like the government. COMEX Shorters should b in jail for manipulations and the losses they caused.

[exitiummagnum]

It must be true if it's on YouTube.

[sidkings]

Arrogant fools, they'll never learn. How dare they mock the SCHIFF

[Blazen1212]

@sidkings

Hes not right about everything my friend. In fact some of his predictions are truely void of fact

[mtoshamtosha]

@Blazen1212 Like what?

[Ifly1979]

@Blazen1212 Please back this up...

[Blazen1212]

@Ifly1979

Sure. Peter Schiff argues that going to a gold standard is the only way to build a foundation for our economy. I have a masters degree in economics and this is just terribly wrong. This is becasue if we had to transact in gold the trade balance with china would create a deflationary vortex where china would suck up all the worlds gold. This would plunge us directly into a deflationary depression and would make the crash of 1929 look trivial.This is fact my friend and isnt disputed

[Blazen1212]

@Ifly1979

Please do your own research and think for yourself. It will give you a more informaed worldview than just following what others say. I like Peter Schiff but he has really jumped on the nutcase train lately and is making some truely absurd statements. His investment record at EuroPac is dismal and he himself isnt an academic economist. He has a bachelors degree and doesnt support his claims with econometric modeling or supporting data. Do your own research..think for yourself.

[kessass83]

@Blazen1212 What kind of modeling you need?. It doesn't matter what kind of modeling you are going to use, but if the whole economy only running on debt, so at some point it will burst. Of course it is scary to listen to this guy, but don't be overoptimistic. There will be hyperinflation of dollar, but the question when. IT will affect the whole world trade and standard of living. Even China will be affected, because there is a big bubble too.

[Blazen1212]

@kessass83 You are certainly right about bubbles in China. I was addressing Peters incorrect assertions about going to the gold standard. I do not however think we will see hyperinflation. That occurs in specific circumstances and almost always is political in nature. (ex. Argentina, Zimbabwe, etc.) To say this is certain is not true at all. We have the largest GDP in the history of the world and the US will remain a haven given the global climate and the horrific troubles in the Euro.

[kessass83]

@Blazen1212 I would agree with you that US has still the largest GDP, and yes Europe i think in no better position than US. The only way US will avoid inflation if they stop spending as crazy, downsize the government apparatus significantly, and again come back to trade surplus. The only thing that saves US is that dollar is reserve currency. I think inflation will be imposed for technical reason, to reduce a deficit. Because interest payments won't be able to keep up with economic growth.

[McFry2376]

This is old.

[sweYoda2]

Americans don't know that they are going to be the new chinese :P