Peter Schiff Buy Gold it could go to $10 000/oz CNBC 05-11-10

Peter Schiff Buy Gold it could go to $10 000/oz CNBC 05-11-10

Category:

News & Politics

Tags:

• Peter
• Schiff
• Buy
• Gold
• it
• could
• go
• to
• $10
• 000/oz
• CNBC
• 05-11-10

[SeppLainer]

Here it is December 17th, and gold is holding over $1,390. Once again, Schiff is right, CNBC guests are wrong.

But hey, at least they didn't cut him off and laugh him off stage this time...

[arnie2103]

Peter is using logic that one can learn from basic macroeconomic principals 101. I learned all of this in undergrad. But I gotta say his accuracy is so dead on, its scary. Yet to this day when he speaks on business networks, they still laugh at him like he is lunatic. Doesn't his track record show that he is right?

[mrrobotica]

It might go to 10,000 USD but how much buying power would that have? I'm curious if any of you guys have some real input.

[mgross7668]

Ignorant and stupid. That describes your last two posts. What he said was Gold:Dow will be a 1:1 ratio just as it was in 1980. (Mid Jan. 1980-Gold $850, Dow Jones 840). Never once does he refer to the year long "AVERAGE". We are in the beginning of this wealth cycle which means even if Gold is 20% of the Dow now, the cycle isnt even close to over. It's ignorant people like you who are running our government and are gunna fuck up the world financials. Have fun wiping ur ass with US dollars soon

[goldenthroat86]

@mgross7668 Peter Schiff didn't say mid 1980 and neither did I. We referred to ALL of 1980. The AVERAGE for the Dow in 1980 was 892..it wasn't the "year-end" price. The ACTUAL year end Dow for 1980 was even higher... 963.99. As you can see, the AVERAGE price of gold in 1980 was significantly lower than both of those figures. These figures are readily available on the internet. I suggest actually reading someone's post and doing RESEARCH instead of pulling things out your ass.

[mgross7668]

@goldenthroat86 You have absolutely no idea what you're talking about. Gold was actually more than the Dow Jones average in mid 1980. What you're looking at is year-end prices in 1980. And since the Dow:Gold ratio went all the way up to 50:1 in 1999, its going to cross way over the mean. Gold will be double the Dow at some point in the decade.

[EJArendee]

Should we buy gold for the long term if the US currency isn't even backed on gold?

[2100v]

Consumer demand for gold is up; India 963.1 tons, China 579.5 tons in 2010.

[wanderdworld]

I'd have to vote all four of those bungholes off the island." What if the economy grows?"If you move your hands back and forth fast enough you might fly. But neither of those things is going to happen.GUARANTEED! Buy silver