Markets, gold bubble, Summers, Bernanke, Obama, Tepper

Schiff Report Video Blog Sept 24th 2010

LInk to 2006 Commentary of Gold Bubble
http://www.europac.net/commentaries/top_ten_signs_precious_metals_bubble

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[Alexisme1001]

TWSceptic- You're probably right, but there's no way to know for sure, and the rate of technological progress has been accelerating.

[TWSceptic]

@Alexisme1001 Not gonna happen anytime soon, so keep buying gold.

[dssupra]

Nice, im glad someone can realize that gold is not a bubble. Anyone who thinks it is obviously has not thought of how the supposed gold bubble could pop? Default on debt? No, that will cause a further weakening in the dollar. A replacement world reserve currency? No, gold will probably be involved in that as the USD was. It is simple, gold reflects the confidence and strength in the dollar. The dollar is weak, because it is being printed with no production or service to back it.

[Alexisme1001]

Did some research on the very long term chart of gold. Turns out that gold has a terrible record over the last thousand years, due to new discoveries and advances in mining/refining technology. Buying power of gold way back then (and before) was $3,000-$5,000/oz.. Also,there are about 70 ounces of gold in every cubic mile of seawater & it exists varying levels throughout the Earth. If we figure out cheaper ways to extract it, expect a gold toy every box of Cracker Jacks.

[scillowillow]

Register to win 1oz gold liberty or 1oz silver buffalo! No obligation and no catch! Click on my user name to watch videos or visit buysilvernow dot info. Good luck!

[Busybeebookkeeping]

Commodity money has value. Fiat money is an "assigned value". Imaginary value is not as useful as imaginary numbers.



[Forsakren]

Hey Peter, I came across an article in 2006 where your top 10 signs of a bubble are just a list of jokes, a couple are really funny and your parrot joke is great but it would be nice to have a serious opinion.

This is the article I found.

w w w . europac . n e t / commentaries / top _ ten _ signs _ precious _ metals _ bubble

[TheRocketman12345]

price goes up then quantity of demand decreases

[pippismo]

you are awesome Peter, seriously, kudos for your guts to get out there and "tell it like it is". I am buying silver :)

[funkervogt47]

In this blog, Schiff predicts the U.S. dollar index will drop down to "around 75" before the end of October 2010. For the last week of October 2010, the U.S. Dollar Index varied from 77 - 78. It closed at the lower value. On 9/24/10, the Index was about 79.5. Schiff was therefore right about the dollar index declining, but overestimated the magnitude of its change.